Grade, a real estate appraisal technology provider, has enhanced its flagship appraisal management technology platform. The AppraisalWorks platform is designed to streamline the real estate appraisal process, helping lenders and service providers reduce costs, shorten processing times and increase transparency.
Recent enhancements to AppraisalWorks further automate key elements of the valuation management process, including quote management tools for residential and commercial real estate transactions. It provides lenders with great automation, real-time monitoring, status-based alerts, and detailed audit history.
With the Automated Appraiser Payments module, lenders can easily initiate and track ACH payments, manual and credit card payments across all appraisal orders, and agreed vendor commissions. Bulk payment support provides end-to-end processing for increased efficiency. Faster payments to appraisers provide a strategic advantage in attracting the best talent for each appraisal order. In addition, credit card processing is tracked at the order and individual transaction level.
Seamless integration between AppraisalWorks and Encompass allows lenders to order, assign, track and verify real estate valuations from the AMC market and appraisers directly through the Encompass digital lending platform.
“As lenders and service companies seek the benefits of faster assessment times, efficiency and cost savings are critical, as is the need to maintain rigorous security and compliance practices,” said Mike Cullen, CTO at AppraisalWorks. “The AppraisalWorks technology platform helps simplify appraisal processes, improve compliance and reduce costs, and improve the quality of service to borrowers. Our customer-centric approach to continuous technological innovation makes AppraisalWorks the best choice for lenders and service centers looking for greater efficiency and strategic advantage. ”