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New UAD Compliance Tool for AMCs Launched

NationalMortgageProfessional.com
Sep 12, 2011

Bradford Technologies, a provider of valuation tools and solutions for residential appraisers and parent of the AppraisalWorld online community for appraisers, has announced the launch of DirectCLICKS, its appraisal delivery solution. DirectCLICKS allows lenders and appraisal management companies (AMCs) to accept ClickFORMS appraisals directly from appraisers, while also meeting XML and UAD requirements and virtually eliminating the multiple review cycles caused by repeated tracking and correcting errors on appraisal reports. Unlike with other appraisal delivery portal technologies, lenders and AMCs, not the technology provider, have complete control over changes to review rules. DirectCLICKS is completely free of charge and can be implemented in just a few days. “The new UAD requirements are putting a lot of stress on lenders and AMCs, and have led to costly delays,” said Sylvia Kainz, chief operating officer for Bradford Technologies. “The truth is that it’s very easy and completely cost-free for lenders and AMCs to manage UAD compliant ClickFORMS appraisals while continuing to use any of the thousands of appraisers that rely on ClickFORMS appraisal software to prepare their appraisal reports.” In addition to providing a virtual “doorway” through which lenders and AMCs may receive ClickFORMS appraisals, DirectCLICKS also automatically reviews each appraisal report for UAD and XML compliance as well as for errors and incompletion before an AMC or lender even reviews the appraisal. If the system locates any discrepancies, it automatically reroutes the appraisal report, along with information on the items in question, back to the appraiser for correction—all virtually instantaneously, saving countless hours and phone calls that would otherwise be spent tracking and correcting the issues. “We’ve gotten overwhelmingly positive feedback on DirectCLICKS,” said Kainz. “The entire industry is already understandably concerned with the changes in the appraisal segment. We’re happy to provide appraisers, AMCs and lenders with an easy, zero-cost option for achieving quality and compliance.”
Published
Sep 12, 2011
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