ROSWELL, Ga.--(BUSINESS WIRE)--Triserv Appraisal Management Solutions (Triserv AMC) announces the immediate availability of enhanced appraisal quality control service with its Veros integration. The improved features are a major upgrade in quality control capability for mortgage lenders seeking to address reliability and risk associated with submission to the Uniform Collateral Data Portal (UCDP) as well as FHA’s Electronic Appraisal Delivery (EAD) portal, well in advance of FHA’s June 27, 2016 deadline for EAD compliance.
The industry leading technology toolset from Veros’ PATHWAY system-to-system connection allows Triserv AMC to deliver one of the most robust and error free appraisal review processes in the industry. The “Hard Edit Preview” feature from PATHWAY allows Triserv to run a “soft submission” of known UAD, UCDP and EAD compliance issues on any appraisal file, instantly previewing any potential fatal errors and warnings. Triserv’s appraisal review team can then make appropriate corrections or revision requests to the appraiser prior to officially submitting the file in UCDP/EAD. This process is a tremendous step forward in helping to guarantee the return of a clean, compliant UCDP/EAD SSR report on the first submission. Triserv AMC has also enhanced its review process by enabling appraisers to take additional steps to help lenders identify if the appraisal is likely to be considered “high risk”. In these cases, Triserv AMC performs a secondary review of the appraisal in order to fully vet that appropriate commentary, support, and USPAP compliant methodology were used to justify the comparable sales on the report before delivering to the lender. In this way, a lender’s underwriting department has much more surety about the integrity of the appraisal and knows in advance which appraisals carry a higher risk in the eyes of their investor, further streamlining their operations and reducing risk.
“Our longstanding partnership with Veros has always given Triserv the advantage of fast and reliable UCDP delivery, and the recent enhancements to the PATHWAY platform now provide a single-point of entry for EAD delivery and superior preview advantages for automated QC,” said Jim Jendzurski, Triserv’s Chief Appraiser. “Triserv has always been proud that our QC process for full appraisals leads the industry with a manual review performed by licensed staff appraisers on 100% of our appraisal files. By adding the ability to preview the UCDP warnings and hard stops, and monitoring for key risk factors, we have been able to provide a significant advantage in QC to our lender partners and reduce many of the inherent risks associated with erroneous submissions and sub-par reviews.”
“The integration of Veros and Triserv is a class-leading example of the type of automation, risk management and value an AMC should be capable of delivering to its partners,” stated David Rasmussen, senior vice president of operations for Veros. “Triserv AMC is a leading and valued partner for Veros and their approach to their PATHWAY integration combined with their proprietary lender offering demonstrates the power of what AMCs can achieve on behalf of a lender.”
Mark Walser, Senior Vice President at Triserv added, “For the first time, lenders are not alone in their process with secondary market risk and review. Triserv is among the first AMCs in the country that can actually provide tangible review advantages on this front, making our services that much more integral to a lender’s underwriting process. Veros was the only serious choice for us to accomplish this level of capability for appraisal review, and we are excited to grow our already strong partnership with them.”
About Triserv Appraisal Management Solutions
Founded in 2007, Triserv Appraisal Management Solutions is a leading nationwide provider of customized residential appraisal services to mortgage lenders, credit unions and banks. Triserv provides unparalleled transparency into the appraisal process, a manual appraisal review process performed by licensed appraisers, and pays appraisers with an industry-leading twice per month pay schedule.
About Veros Real Estate Solutions
Veros Real Estate Solutions, a proven leader in enterprise risk management and collateral valuation services, uniquely combines the power of predictive technology, data analytics and industry expertise to deliver advanced automated decisioning solutions. Veros products and services are optimizing millions of profitable decisions throughout the mortgage industry, from loan origination through servicing and securitization. Veros provides solutions to control risk and increase profits including: automated valuations, fraud and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms.