SPOKANE, Wash. -- (BUSINESS WIRE) -- Mortgage technology provider SharperLending LLC has enhanced its Appraisal Firewall product to accommodate an unlimited number of users that can be included on a real estate appraisal order. The new feature, as shown in this video, helps keep individuals in mortgage departments and across branches informed about appraisal and loan status by enabling all of the parties involved in the process to follow its progress as it is worked up and moves toward completion.
Appraisal Firewall is a secure, web-based real estate appraisal technology solution for lenders to achieve management-level control and multi-department efficiency over their appraisal process. The system enables lenders to manage their own appraisal process and work with their trusted local appraisers and AMCs in one system. Appraisal Firewall helps lenders comply with all appraisal independence regulations, including Dodd-Frank, Interagency Appraisal and Evaluation Guidelines, internal and investor requirements, plus GSE requirements for lenders to submit UAD-compliant appraisals electronically to the UCDP.
"Since so much hinges on the appraised value these days, many loan officers, underwriters, appraisal administrators - even reviewers - want to be informed of the status," says Dave Black, President and CEO of SharperLending LLC, the company behind the Appraisal Firewall technology. "Lender employees can be added or removed at any point during the appraisal process - so if an appraisal is nearly completed and the user wants to include their reviewer or QC personnel, they can let them know a day in advance that the file is almost ready for them. Providing this powerful new communications feature to our users keeps the lines open so that appropriate parties know when the file is nearly complete, when it's ready for review, when it's ready to submit to UCDP - and the results of each action."
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 500 million 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, watch the Appraisal Firewall YouTube video, follow us on Facebook, Twitter or Linkedin, call (800)452-1174, or visit www.SharperLending.com.