ORANGE, Calif. July 26, 2011 December 1, 2011 March 19, 2012
For lenders looking to access the UCDP portal electronically versus via the UCDP web interface, InHouse is providing lenders electronic access at no charge. In addition, lenders using the InHouse Connexions appraiser-management platform get the freedom and bandwidth to work with a limitless number of appraisers and appraisal management companies (AMCs), while also maintaining a single system of record for all appraisals. Connexions provides a highly effective system for comparing the performance of lenders’ valuation providers, enabling the comparison of appraisers to AMCs, AMCs to other AMCs, and appraisers to other appraisers. "Using Connexions, it’s easy for lenders to see who is performing optimally, and who is not," adds Creech.
Connexions empowers lenders to easily access and compare data on every appraisal report—a task that would be nearly impossible when uploading appraisal data through the multiple disparate delivery platforms used by a lender’s various appraisal services providers. Thanks to Connexions’ centralized database, lenders can easily generate reports on every appraisal submitted to the GSEs through the UCDP, even if the lender is using numerous disparate AMCs and appraisal companies.
As part of the new GSE appraisal submission requirements, appraisals must be supplied in MISMO XML format or as a first-generation PDF. Connexions can also easily convert first-generation PDFs into the MISMO format for faster submissions. Connexions also validates compliance and tracks the status of all appraisals.
"We make it easy for lenders to comply with the new appraisal submission guidelines," says Creech. "Connexions not only empowers lenders to stay compliant, it also helps them run their appraisal operations in whatever manner they find ideal."
SOURCE InHouse Inc.