An appraisal management company (AMC) is required to act as a neutral third party between the appraiser and the lender. This reduces the potential for collusion or corruption, ensuring that the lender, borrower, and seller benefit from a fair appraisal. AMC software solutions streamline the relationship of the AMC with the appraiser and the lender, significantly reducing the time it takes to process appraisals.
Essentially, these software solutions are a “point of sale” for AMCs to perform their role as go-between, eliminating friction while maintaining accountability. Additionally, some loans may qualify for a waiver of the appraisal if they meet certain conditions. These loans may be eligible for approval based on an automated valuation by specialized software.
For Mortgage Professionals
AMC software solutions reduce the friction between ordering and delivering the appraisal from appraiser to lender while remaining compliant.
Some loans may be eligible for automated valuation and waiver of appraisal, saving the borrower time and money in appraisal expenses and scheduling.
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Reggora is a modern appraisal technology company that streamlines the appraisal process for mortgage lenders and their appraisal vendors.
The Appraisal Management Process Made Easy
EVO, from Global DMS, streamlines the appraisal management for lenders and AMCs with the most intelligent and easy-to-use appraisal technology that is 100% configurable to your business and automates routine tasks to reduce turn-times up to 30%.
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What to look for as technology and stakeholders align for a new approach to valuation
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