Coester VMS has announced the successful integration of its Cloud Control appraisal management technology into the Ellie Mae Encompass360 mortgage management system, giving Encompass360 users the ability to order Coester appraisals with a single click. The integration also allows users to automatically schedule appraisal appointments and process check payments through an integrated e-check tool.
“Integrating Cloud Control into Encompass360 helps ensure a hassle-free appraisal process for everyone—the lender, the appraiser and most importantly, the borrower,” said Bill Reichel, production manager for Weststar Mortgage. “At Weststar, investors appreciate our 100 percent compliance, which includes appraisals, and borrowers appreciate our focus on making transactions as fast, smooth and straightforward as possible. We couldn't be happier about this integration, which enhances our performance in both areas.”
With Coester’s Cloud Control now integrated with Encompass360, the user simply clicks “order appraisal,” enters the borrower’s credit card information and the borrower’s availability, and clicks “confirm.” The Cloud Control system auto-populates the appropriate fields in the appraisal report using information from Encompass360, then automatically finds and schedules a qualified, experienced, licensed appraiser who is available to complete the appraisal.
After the appraisal appointment is set, Cloud Control provides automatic updates to the lender and the borrower, and can deliver the completed appraisal report directly to Encompass360. When the appraisal is completed, it is quality checked with Coester’s cData, Coester's automated appraisal review technology. Should cData uncover any discrepancies, errors, omissions or other issues, Cloud Control automatically sends the appraisal back to the appraiser to be corrected, along with detailed information on the areas in question. The appraisal does not get returned to the lender until all issues are addressed.
“Much of the appraisal process is antiquated and redundant. That can really slow down the mortgage cycle and add costs for both lenders and borrowers,” said Coester VMS CEO Brian Coester. “There’s no reason lenders should have to add days or even a week to the mortgage cycle just to schedule an appraisal or make sure it’s compliant and up to standard—and with Cloud Control, they don’t have to. We’re really excited about working with Ellie Mae and offering Encompass360 users a way to access faster, more compliant appraisals.”