Global DMS has launched AppraisalTransfer.com, an online portal that the company says enables lenders to securely transfer and receive Home Valuation Code of Conduct (HVCC)-compliant appraisals cost-free and completely electronically.
All appraisals transferred through AppraisalTransfer.com are run through an automated review and automated valuation model evaluations, and lenders also receive a score that ranks the overall quality of the appraisal. Transfer fees are paid by the broker initiating the transfer, and cost $25 or less per file.
"We're very pleased to finally have a way to transfer appraisals, while still adhering to HVCC guidelines," says beta-tester Adam Hahn, vice president of Stearns Lending Inc. "In this market, everyone is looking to reduce unnecessary costs. AppraisalTransfer.com allows us to avoid having borrowers pay for second appraisals unnecessarily and maintain strong relationships with the lenders we work with."Â
SOURCE: Global DMS