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LRES has launched an upgrade to its client-vendor portals to improve the user experience and serve a broader base of loan officers. The upgraded portal is designed to seamlessly connect correspondent lenders to multiple, qualified affiliated lending institutions in a simplified process to enhance loan originations and accelerate the appraisal process. The re-tooling of the portal-ordering platform caters to client specifications and service types (origination vs. default) when an affiliated lender places an appraisal order on behalf of a correspondent lender within the system.
LRES now also includes a “revision needed” status to flag any rejected appraisals for additional screening that may not otherwise meet industry standards or Fannie Mae’s Collateral Underwriter. Another aspect of the upgrade to promote better quality appraisals is a new automated auto-population of appraisal summary data feature in the vendor portal that parses data from XML appraisal documents upon submission, effectively avoiding manual errors that arise when re-entering the information.
Additional upgrades to the client-vendor portals include newly accepted payment options, such as e-checks for more convenience when ordering an appraisal.
“Through these enhancements to our technology, we are placing a greater focus on further improving the way correspondent lenders and their affiliated lending institutions interact during the origination of mortgage loans,” said Roger Beane, LRES founder and chief executive officer.