Platinum Data Solutions and InHouse Inc. have partnered to integrate Platinum Data Solutions’ RealView appraisal quality verification technology with InHouse’s Connexions appraisal management platform. RealView is known to be the industry’s most nimble, configurable technology for verifying appraisal quality. Connexions is acknowledged as the industry’s most advanced platform enabling users to self-manage appraisal operations and designating any combination of individual appraisers, appraisal companies or AMCs (appraisal management companies). By integrating the two technologies, the companies are providing users with a fully customizable solution, allowing them to manage the appraisal process and verify appraisal quality and compliance in a way that precisely fits their unique business objectives.
“Our Connexions customers are used to having a huge amount of flexibility in the way they handle their appraisal processes,” said Jennifer Creech, CEO of InHouse, Inc. “Fortunately, like InHouse, Platinum Data Solutions is a frontrunner in terms of flexibility. This integration gives our mutual customers a seamless connection from the most flexible appraisal management platform to the most configurable appraisal quality technology.”
Connexions is a web-based appraisal management technology designed to work with an unlimited number of AMCs, regional appraisal companies and individual appraisers, all on one platform. It automates workflow throughout the entire appraisal process, including order processing, appraisal assignments, payments, quality review, and UCDP submission. Unlike other appraisal management technologies, adding new vendors can be done virtually instantaneously with Connexions. The system also automates appraisal selection according to each vendor’s service, quality and cost, provides real-time performance metrics and offers a payment feature that can compliantly manage all payments from customers as well as to appraisers.
RealView is a Web-based appraisal quality verification technology that cross checks every field on an appraisal report against the industry’s most comprehensive database, which is derived from Platinum’s network of public and private data sources. It covers thousands of business rules and appraisal review guidelines, and unlike other technologies that review only for form completeness, RealView analyzes each appraisal for completeness, compliance and consistency. Reports are generated in minutes, and provide at-a-glance qualitative ratings that allow appraisals to be allocated to the appropriate underwriter in seconds. The most nimble technology of its kind, RealView can be configured to accommodate virtually any set of guidelines set in a matter of hours, enabling users to evaluate appraisals according to a new lender’s or new investor’s set of guidelines literally the same day.
“Appraisals have been a major focus of the industry’s reform in the past few years, and I don’t see that slowing down in the future,” said Phil Huff, CEO of Platinum Data Solutions. “Inflexible technologies waste money. If mortgage companies want to survive, they need nimble technologies for managing their appraisal processes and ensuring quality and compliance in every single appraisal. We’re happy to provide Connexions users with seamless access to the industry’s most flexible appraisal quality and compliance technology.”
“Lenders are under a lot of pressure from regulators and investors to stay compliant, but they also have the added pressure of needing to stay profitable, which isn’t easy in this environment,” added Creech. “Having freedom of choice allows lenders to protect their budgets while still achieving their compliance goals. Providing a direct link to RealView is another step that InHouse is taking to ensure Connexions users have access to the tools to do more and better business, in the way that works best for them.”