Urban Lending Solutions Selects FNC for Appraisal Technology – NMP Skip to main content

Urban Lending Solutions Selects FNC for Appraisal Technology

NationalMortgageProfessional.com
Apr 26, 2011

Urban Lending Solutions Appraisals LLC (ULSA), a subsidiary of Urban Lending Solutions, has licensed FNC Inc. technology to streamline appraisal compliance and provide a top-notch workflow solution to its clients. ULSA inked a deal for FNC’s Collateral Management System (CMS), an extensive workflow and vendor management platform. FNC’s CMS includes the Generally Accepted Appraisal Rules (GAAR) Compliance Series, a component of the system that provides a consistent and automated review of each transaction, flagging violations that may indicate undue risk. “This deal was an opportunity for us to demonstrate our commitment to our clients and appraisers by providing them with leading-edge technology,” said Scot Rose, president and chief valuation officer for ULSA. “Our aim was to help them become more productive at a time when generating revenue is difficult and every dollar counts. Improvements to our back office benefit our clients every day. They gain because their valuations are more accurate and that keeps them in compliance with their investors. In addition, the standardized API makes integration with other FNC platforms a streamlined process and is a great value when working with other FNC clients.” The system documents the entire process, helps ensure appraiser independence and compliance with USPAP standards, and highlights potential appraisal or appraiser-related red flags. In addition, FNC technology automates vendor management, ordering and delivery of appraisals, and provides easy, secure communication with ULSA’s appraisers through AppraisalPort.com. “We saw ULSA’s potential for continued growth in the next few years, their commitment to customer service, and their commitment to building a long-term business--not to mention that their parent company is one of the fastest growing companies in the mortgage business --as compelling reasons to work closely together,” said Mike Mitchell, chief strategy officer at FNC. “ULSA has a deep understanding of the mortgage process from origination through the secondary markets. Throughout the life of the loan, they are committed to providing innovative, cost effective solutions.”
Published
Apr 26, 2011
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