Comergence Partners With OREP on Appraiser Approvals and Verifications

Comergence, a provider of third-party risk-management platforms for the mortgage industry, has announced that it has formed a relationship with the Organization of Real Estate Professionals (OREP), which specializes in placing errors and omissions insurance for real estate appraisers, as well as other real estate professionals. OREP also provides other valuable benefits to its members, which include real estate appraisers, home inspectors, real estate agents and brokers, mortgage field service professionals, and other real estate professionals.

Comergence is offering OREP’s residential appraisers a discount on its services. The company’s proprietary REALM for Appraisers is a service where appraisers pay a low annual fee to set up a single online profile that can be shared electronically with any AMCs and lenders they choose. “Rather than having to submit to a background check or verification every time an appraiser wants to work with a new or existing partner, REALM for Appraisers enables appraisers to set up a single profile,” said Greg Schroeder, president of Comergence. “REALM saves appraisers valuable time and money, and can be used with both lenders and AMCs.”

Status changes are immediately provided to AMCs and lenders, delivering ongoing insight and the ability to effectively manage their relationships and help ensure compliance. REALM for Appraisers also provides lenders and AMCs with online tools to efficiently and cost-effectively meet regulatory requirements.

“We’re delighted to be working with Comergence,” said David Brauner, senior insurance broker from OREP. “Being required to submit to multiple background checks is burdensome and expensive for appraisers. OREP believes the service offered by Comergence will help relieve that burden, so we’re more than happy to make REALM available to our appraisers.”