SPOKANE, Wash.--(BUSINESS WIRE)--Mortgage technology provider SharperLending LLC is excited to release a new product to its Appraisal Firewall platform: the Verisite Photo Report. The Verisite Photo Report is a new concept in collateral inspections that provides lenders with current, comprehensive property data on loans and sub-loan products that don’t require full appraisals. When lenders use the Verisite Photo Report, inspections are completed faster, loans are processed faster, and the result is a wholesale improvement in the borrower experience.
Ideal for equity lending condition reports, disaster relief inspections, construction loan progress payments, portfolio risk management and more, lenders use the Verisite Photo Report to meet processing and underwriting needs. Watch this video to learn more.
Verisite utilizes mobile device technology to enable lenders to gather property data, such as interior and exterior photos with descriptions, maps, comparable sales data and more, from borrowers, appraisers, inspectors, loan assistants, realtors, or anyone the lender deems fit. Mobile devices deliver the requested property data back into Appraisal Firewall where property data is combined to produce the Verisite Photo Report, which empowers lenders with speed unlike any product of its kind for faster decisioning on loans that do not require full appraisals.
“Verisite transforms loan pipelines into borrower attraction and retention tools by achieving a speed and efficiency level never before seen by the industry,” says Dave Black, CEO and Founder of SharperLending LLC, the company behind the Appraisal Firewall and Verisite technology. “It also helps alleviate the pressure of not knowing how lender investments are performing, or disaster relief situations like we are experiencing today with aftereffects of Hurricane Michael, by providing to-the day evaluations of collateral properties. Lenders can pick and choose which property details and pictures they want, such as specific detail on new kitchen countertops or the shape of a roof after a natural disaster, then place their order to the Photo Agent of their choosing. Upon delivery, lenders can request additional details or picture retakes, then generate the final report that meets their needs.”
Verisite is available from within the Appraisal Firewall residential and commercial appraisal platform that enables lenders to manage their own appraisal process and increase efficiency at the loan production level.
In addition to lenders, the company offers opportunities for technology and data providers to private label the Verisite product as their brand.
About SharperLending LLC
Headquartered in Spokane, Wash., SharperLending LLC, was founded in 1989 and was the first to offer a complete Web browser-based mortgage credit reporting system on the Internet. The company’s proven technology has processed more than two billion secure mortgage transactions. SharperLending has been processing appraisals since the late 1990s, with Appraisal Firewall breaking out of the company’s settlement services technology into its own unique offering. SharperLending, LLC has three divisions under its corporate umbrella: SharperLending Mortgage Services Division, the mortgage services and Appraisal Firewall platforms; SharperLending Credit Division, technology for the credit reporting industry; and SharperLending Solutions, the loan origination product packaging division. For more information, visit www.AppraisalFirewall.com, or call (800)452-1174.
