Ellie Mae Inc., a provider of software and automation solutions for mortgage bankers, community banks, credit unions and other mortgage lenders, and PLATINUMdata Solutions, a provider of comprehensive appraisal review and collateral valuation technologies, has announced the integration of PLATINUMdata’s REALview collateral valuation review technology with Ellie Mae’s Encompass360 Mortgage Management Solution.
This integration provides direct, seamless connectivity between Encompass360 and REALview, enabling Encompass360 users to access REALview directly from their Encompass360 systems. REALview is an automated, transparent appraisal review tool that processes and analyzes appraisals. In addition to cross-checking and analyzing each appraisal against thousands of USPAP (uniform standards of professional appraisal practice) guidelines and appraisal data factors, REALview verifies the appraiser’s license status while also integrating public record and other local market data to help validate the appraisal information.
“The Interagency Guidelines have presented many new regulations and originators are rightfully concerned about compliance,” said Arturo Garcia, chief operations officer for PLATINUMdata Solutions. “By integrating into Encompass360, we’re extending REALview’s reach and providing even more originators with a cost-effective, automated solution for complying with the new Interagency Guidelines.”
Encompass360 users can now not only order REALview reports with just a few mouse clicks, but also receive the completed reports almost instantaneously. The way it works is, the Encompass360 user uploads an appraisal PDF file into the newly created interface. There, the relevant data is extracted from the PDF appraisal report, evaluated and reviewed, all within minutes and in a fully automated fashion. When the analysis is complete, an easy-to-read report is generated and automatically filed in the user’s corresponding Encompass360 eFolder.
“Appraisal quality is a major factor in producing high quality loans,” said Jonathan Corr, chief strategy officer for Ellie Mae Inc. “Our clients have come to rely on us to provide the solutions that enable total loan quality—and that includes valuations. We’re pleased to add REALview to the comprehensive range of quality-enhancing tools we offer our clients.”