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LRES and Bay Docs LLC, a service provider dedicated solely to the reverse mortgage industry, have jointly announced an integrated strategic partnership via the LRES DirectConnect integration hub and Bay Docs Loan Origination System, Reverse Express. Through this integration, LRES DirectConnect offers full valuation lifecycle management for Bay Docs’ reverse mortgage customers by delivering its users collateral valuation reports as well as the supporting data in the MISMO industry-standard format. The integration offers end-to-end automated connectivity while delivering reports and data for compliance and quality control (QC) or auditing purposes via a single system valuation life-cycle management platform.
“Our integration with LRES DirectConnect offers our reverse mortgage customers an all-inclusive automated appraisal management solution to greatly simplify the complex valuation process,” said Megen Lawler, CEO of Bay Docs.
LRES DirectConnect’s integration framework connects financial institutions and third-party systems to the LRES LINK order management platform to enhance appraisal order processing and delivering. Data can more easily be shared across all systems, which speeds the valuation process and ensures full compliance.
“LRES’ integration with Bay Doc’s LOS greatly benefits reverse mortgage lenders by handling all the heavy lifting as it relates to appraisal management and keeping them fully informed of the appraisal’s status throughout the process,” said Roger Beane, CEO of LRES.