Appraisal Firewall 1.0. Appraisal Revolution. powered by Appraisal Firewall DATA FACTS WHITE PAPER SERIES

Transcription

1 Appraisal Firewall 1.0 Appraisal Revoltion powered by Appraisal Firewall DATA FACTS WHITE PAPER SERIES

2 The Technology Standard Appraisal Revoltion, powered by Appraisal Firewall technology maximizes yor relationships with yor appraisers and streamlines the entire appraisal process. The technology atomates appraiser selection, service areas, qalifications, and THE TECHNOLOGY STANDARD payment, then rotes orders and messages to yor trsted local appraisers. Best Appraisal of all, yo Revoltion spend less is time a secre, placing web-based orders and residential get completed and commercial appraisals appraisal faster. ordering Varios indstry soltion that reglations enables establish lenders to enforceable self-manage appraisal their appraisal independence process. Lenders work directly with their known and trsted appraisers (and/or AMC) needed standards for all banks. Appraisal Revoltion is a complete reglatory for wholesale/investor reqirements. With Appraisal Revoltion, yo can achieve compliance soltion, providing docmentation and adit tracking so that yo can management level control and mlti-department efficiency, enabling yo to increase prove to aditors that every appraisal was developed free from inflence. the speed of Loan Prodction and Underwriting. Appraisal Revoltion is a complete reglatory Increase the compliance speed of soltion, yor loan inclding prodction CFPB and Dodd-Frank nderwriting appraisal with rles. *Appraisal Firewall Revoltion! is not an AMC. HOW DOES IT WORK? HOW DOES IT WORK? Appraisal Revoltion pts lenders in complete control of their real estate appraisal Appraisal process. Lenders Revoltion load pts their lenders list of in mortgage complete control department of their sers real and estate their appraisal list of process. Lenders load their list of mortgage department sers and their list of appraisers into the system and they are able to commnicate freely as orders appraisers into the system and they are able to commnicate freely as orders progress. The system also offers over 50 AMC connections so lenders can manage progress. The system also offers over 50 AMC connections so lenders can manage appraisers and AMCs in one place. Appraisal Revoltion was developed to meet appraisers and AMCs in one place. Appraisal Revoltion was developed to meet HVCC/ HVCC/Dodd-Frank and CFPB Gidelines, so the identity of each party in the system is Dodd-Frank and CFPB Gidelines, so the identity of each party in the system is withheld in withheld what we in refer what to as we blind refer commnication. to as blind commnication. After the appraisal After has the been appraisal delivered, has yor been team delivered, can print yor the team Appraisal can print Independence the Appraisal Report Independence (AIR) that comes Report with (AIR) every that order comes to with prove every there order was to no prove inappropriate there was commnication no inappropriate of appraiser commnication inflence. of With appraiser Appraisal inflence. Revoltion, With Appraisal there Revoltion, is no software there to install is no software or hardware to install to maintain, or hardware and yor to appraisals maintain, are and stored yor appraisals secrely online are stored so yo secrely can access online them so anytime. yo can And access there them is a lot more to it review these featres! anytime. And there is a lot more to it review these featres! Page 2 of 6

3 HIGH LEVEL: KEY FEATURES Set p yor own appraiser panels & AMC connections for better control of yor appraisal process Cstomize yor appraiser panels for service areas & qalifications to ensre every appraisal is done right HIGH LEVEL: KEY FEATURES Setp yor prodction staff to order appraisals that are developed free from inflence «Set p yor own appraiser panels & AMC connections for better control Doble-blind of yor appraisal ordering process & messaging enables prodction staff to inpt and manage orders withot delay. «Cstomize yor appraiser panels for service areas & qalifications to Manage the lifecycle of each appraisal efficiently with the interactive dashboard ensre every management appraisal tools. is done right All «Setp activity yor is tracked prodction by the staff AIR for to order protection appraisals against that appraisal are developed free independence from inflence penalties UAD-validated appraisals sbmitted directly to UCDP-with hard-stop «Doble-blind ordering & messaging enables prodction staff to inpt override controls and manage orders withot delay «Manage the lifecycle of each appraisal efficiently with the interactive A CLOSER LOOK AT APPRAISAL FIREWALL S FEATURES dashboard management tools Dashboard «All activity Controls is tracked help visalize by the grops AIR for of protection orders so against yo always appraisal know the stats of all yor appraisals independence penalties «UAD-validated appraisals sbmitted directly to UCDP-with hard-stop override controls A Closer Look At Appraisal Revoltion s Featres Dashboard Controls help visalize grops of orders so yo always know the stats of all yor appraisals Pipeline: Active orders yo shold pay attention to Pinned Items: Cstom bilt lists to watch specific orders Post Deliver: Delivered orders that are being reviewed Coverage Map: Interactive heat map of service areas Page 3 of 6

4 User list management enables yo to assign different rights and role to different sers Mlti-division spport offers optimal admin. Oversight allowing yo to manage 1,2, or mltiple locations User list management enables yo to assign different rights and roles to different Come to sers terms with appraisers on price, then set yor costs. Mlti-division NO gesswork! spport offers optimal admin. Oversight allowing yo to manage 1,2, or mltiple locations Complete appraisal prodct lists available, or limit the prodcts yo Come want to terms available with appraisers to yor Mtg. on staff price, then set yor costs. No gesswork! Notifications-decide when yo want to be notified abot stats Complete appraisal prodct lists available, or limit the prodcts yo want available pdates to yor (declines, mortgage messaging, staff disptes, price change reqests, Notifications-decide and more) when yo want to be notified abot stats pdates (declines, messaging, Message disptes, monitoring price ensres change reqests, yor processes and more) are compliant by showing Message all messages monitoring between ensres yor processes staff and are appraisers compliant by showing all messages between yor staff and appraisers Atomatic notifications are sent at every stage of the appraisal Atomatic notifications are sent at every stage of the appraisal process. process. ADVANCED ADVANCED FEATURES FEATURES TO TO MAXIMIZE MAXIMIZE CONTROL CONTROL Atomated & Manal Appraisal Reviews Atomated & Manal Appraisal Reviews QA and QC at every level QA and QC at every level Many LOS interfaces available-staff can order Many LOS interfaces available-staff can order from from their their familiar familiar LOS LOS and and conform conform to to yor yor compliant appraisal process. Centralized loan processing featres-prodction departments across market areas/regions can departments across market areas/regions can order appraisals and inclde yor loan processing order center appraisals every step and of the inclde way. yor loan processing center every step of the way. MULTI-BRANCH ADMINISTRATION & & CORPORATE CORPORATE CONTROLS CONTROLS Appraisal Revoltion Revoltion delivers delivers administrative administrative controls controls for for yor yor corporate corporate office office or or appraisal administrator to to have have a a scope scope into into each each branch s branch s appraisal appraisal activities.the The administrator is a level is a above level above each Rotation each Rotation Manager Manager (RM) that (RM) they that are they linked are to, and linked can to, do and everything can do the everything RM can do the - pls RM can administrators do - pls administrators have the ability have to browse the across ability mltiple to browse RMs. across Administrators mltiple RMs. can share Administrators info with other can share Administrators info with in other their organization to tightly control workflow. Administrators in their organization to tightly control workflow. Page 4 of 6

5 ADMINISTRATOR FEATURES Review pipeline reports at each branch ADMINISTRATOR FEATURES ADMINISTRATOR Review post-delivery FEATURES reports at each branch Review Review pipeline Billing reports Information each branch Review pipeline reports at each branch Review Review Review post-delivery post-delivery appraiser reports reports panels, at at coverage each branch each branch areas, appraiser qality, trn-times Review and Billing moreinformation Review Billing Information Review appraiser panels, coverage areas, appraiser qality, trn-times and more Review Review appraiser appraisal panels, independence coverage areas, information, appraiser inclding qality, trn-times all mortgage and more Review appraisal independence information, inclding all mortgage Review department-to-appraiser appraisal independence messaging information, inclding all mortgage department-to-appraiser messaging department-to-appraiser Share information with messaging other admins, inclding the ability to review Share information with other admins, inclding the ability to review other admins Share other information admins with work other with admins, other branches inclding the ability to review other admins work with other branches work with other branches Review Review loan loan officers, officers, loan processors, loan processors, nderwriters, nderwriters, appraisal appraisal reviewers, and any Review loan officers, loan processors, nderwriters, appraisal reviewers, and any other reviewers, sers that and are any interacting other sers with appraisal that are interacting orders at each with branch appraisal other orders sers that each are branch interacting with appraisal orders at each branch Available within mltiple LOS interfaces, inclding Calyx Point Available within mltiple LOS interfaces, inclding Calyx Point Available within mltiple LOS interfaces, inclding Calyx Point Within the branch, Corporate Offices can review activity for each Within the branch, Corporate Offices can review activity for each Rotation Manager in each market area yo serve, as well as the Rotation Manager in each market area yo serve, as well as the mortgage departments sers (LO S, LP s, Underwriters, Reviewers, mortgage departments sers (LO S, LP s, Underwriters, Reviewers, etc.) & that branch s appraiser panel. Appraisal Revoltion delivers etc.) & that branch s appraiser panel. Appraisal Revoltion delivers nparalleled control over efficient workflow and compliance no nparalleled control over efficient workflow and compliance no matter how large or small yor organization is. matter how large or small yor organization is. Appraisal Admin Appraisal Admin Appraisal Admin Appraisal Admin Appraisal Admin Appraisal Admin Appraisal Admin Appraisal Admin 4 Branches 4 Under Branches 2 Branches 2 Under Branches 3 Branches 3 Under Branches 2 Branches 2 Under Branches Page 5 of 6 Page 5 of 6

6 ADMINISTRATOR FEATURES 1. Lender pays Appraiser the fll fee for the Report - Lender Pays Service Fee Bill Me Payment - Lender Pay Lender pays appraiser fee ($400 or $360). DFI invoices Lender for the service fee ($40) Credit card Payment- Lender Pay DFI pays the appraiser his fee ($400) DFI invoices the credit card for the Appraiser fee ($400). DFI then invoices the lender for the service fee ($40) 2. Lender pays Appraiser the fll fee for the Report - Appraiser Pays Service Fee Bill Me Payment - Appraiser Pay Lender pays appraiser fee ($400). DFI invoices Appraiser for the service fee ($40) Credit card Payment - Appraiser Pay DFI Pays appraiser his fee mins the service fee ($360) - bills the the credit card for fll amont ($360 +$40 = $400 to CC) 3. DFI accepts payment and pays Appraiser Lender pays DFI the fll fee for the Report + Lender Pays Service Fee Bill Me Payment - Lender Pay DFI pays appraiser his fee ($400). - DFI invoices the lender for the lender for fll fee ($400 + $40) Credit card Payment Lender Pay Lender Pay - DFI pays the Appraiser his fee ($400) - Bills the credit card for ($400) then invoices the lender for the service fee ($40) 4. DFI accepts payment and pays Appraiser Lender pays DFI the fll fee for the Report - Appraiser Pays Service Fee Bill Me Payment - Appraiser Pay DFI pays appraiser his Fee mins the service fee ($360). DFI invoices the Lender fll fee ($360 + $40) Credit card Payment- DFI pays the Appraiser his fee mins the service fee ($360) - bills the credit card for the fll fee ($360 + $40) Check ot the complete Managers User Gide Appraisal Revoltion, powered by Appraisal Firewall