Lenders One, StreetLinks enter new partnershipMortgagePress.comLenders One, StreetLinks, appraisals, compliance, Home Valuation Code of Conduct, HVCC, Uniform Standards of Professional Appraisal Practice
Lenders One Mortgage Cooperative, a national alliance of
mortgage bankers, has enlisted StreetLinks National Appraisal
Services to provide its members with appraisal services and
compliance expertise. As Lenders One's newest preferred vendor
partner, StreetLinks is a national appraisal management company
that offers comprehensive valuation solutions to mortgage lenders
and other origination firms.
"As the mortgage industry and the demand for different loan
products have evolved over the last year, so has the appraisal
process," said Luke Pille, director of national programs at Lenders
One. "Our members have expressed an interest in keeping up with
changing regulatory guidelines, particularly with the Home
Valuation Code of Conduct (HVCC) that will now take effect on May
1, 2009. It was our responsibility to find an experienced
compliance partner to provide our members with complete assurance
throughout the collateral valuation process."
StreetLinks is unlike traditional appraisal management companies
(AMCs) in that it hand reviews each appraisal to ensure accuracy
and validity. Additionally, Lenders One members will benefit from
faster loan approvals and superior loan performance as every
appraisal is underwritten to specific lender and investor
guidelines as well as meets Uniform Standards of Professional
Appraisal Practice (USPAP) requirements. And all appraisals are
backed by a 100 percent loss warranty, meaning that if a lender
suffers a loss related to a proven defect in a valuation,
StreetLinks will cover that loss entirely.
"Our diverse leadership is comprised of veteran lending and
appraisal professionals, so StreetLinks understands the customer
aspect of the appraisal process and has developed its platform
around the very needs of mortgage bankers and brokers," explained
Steve Haslam, StreetLinks CEO. "Partnering with Lenders One allows
us to supply lenders across the country with the most
comprehensive, reliable valuation solutions that empower
origination personnel to better communicate with customers and help
restore confidence in the appraisal process."
Lenders One members will receive confirmation that each
appraisal assignment is fulfilled with true appraiser independence
and impartiality. In coordination with new HVCC guidelines
StreetLinks supports its appraisals with a Certificate of
Non-Influence & HVCC Compliance. Members also have access to
StreetLinks' own fraud prevention tool, ValueVault, which allows
lenders and investors to instantly access the original appraisal to
verify authenticity and integrity via a secured online repository
where a PDF of the original appraisal is permanently archived.
Pille continued, "StreetLinks enables our members to have
up-to-date, 24/7 live tracking of appraisals, and can provide a
trusted subject matter expert to assist them with any
valuation-related questions. This partnership extends the cost
savings and tangible benefits offered to Lenders One members."
For more information, visit www.lendersone.com or www.streetlinks.com.