Platinum Data Solutions, a provider of valuation data and analytics solutions, has released a new version of its RealView solution that allows users to authorize access and share information with third parties, including lenders, appraisal management companies (AMCs), appraisers and investors.
The new version, called RealView QB (Quality Bridge), lets users invite virtually any relevant party to access their appraisal quality and underwriting processes on a limited, user-defined basis. As such, it enables a single, centralized system of record for appraisal quality control (QC).
Third parties can simply log in to RealView to review appraisal QC results. Because these third parties will be able to see the results as soon as they are available, they can more immediately take action to resolve issues.
By sharing a single system of record, RealView QB can eliminate some of the most time-consuming, error-prone activities in the mortgage process, such as re-keying appraisal information, communicating findings and requesting additional information, the company claims in a press release.
“The back-and-forth nature of the appraisal QC process slows the mortgage process and costs companies thousands of dollars each year. Plus, when lenders, AMCs, appraisers and investors operate in silos, it’s difficult to achieve transparency,” says Phil Huff, president and CEO of Platinum Data. “RealView QB’s real-time information sharing reduces mistakes and repetitive tasks while bringing transparency to appraisal QC. All parties benefit from lower costs and protected margins, and the industry as a whole gains the transparency it needs.”