Ellie Mae has released HVCC-Compliant Appraisal Services, a new program designed to help banker, lender and broker clients to fully comply with the Home Valuation Code of Conduct (HVCC) that goes into effect May 1, 2009.
The company's new offering will leverage technology enhancements, partnerships with appraisal management companies, and direct connection via the ePASS Network to facilitate HVCC-compliant ordering and delivery of appraisals for Ellie Mae's banker, broker and lender clients.
With the HVCC-related enhancements to the Encompass Mortgage Management Solution, companies gain the ability to control which staff members can electronically order appraisals, create rules based on property location and loan type, and create and manage their own appraisal panels. Ellie Mae says. The company is working with correspondent and wholesale lenders to incorporate solutions that enhance appraisal portability and simplify lender re-certifications.
Ellie Mae's HVCC-Compliant Appraisal Services will include a ‘black box’ appraisal center that will enable ‘blind’ HVCC-compliant appraisal ordering for wholesale lenders and their mortgage brokers. The service will also include new automated valuation models and additional valuation services.
SOURCE: Ellie Mae