Naples, FL — In preparation for the January 14th, 2014 CFPB effective date, a la mode announced today the release of a multidisciplinary white paper entitled “Appraisal Quality Control: Best Practices for accuracy, efficiency, and compliance."
The recommendations and checklists are a collaborative result from three companies with direct experience in the processing of high volumes of appraisal transactions. a la mode’s Mercury Network team provided insight from experience as the software providers for over 500 of the nation’s lenders and AMCs and the technology backbone behind over 30,000 appraisal deliveries a day. AXIS Appraisal Management Solutions, a leading national AMC with a reputation for excellent quality and vendor relations, and MasterServ Financial, a leading solutions provider for loan portfolio management in the public and private sector, both contributed insight from the mass-volume efficiency and quality perspectives.
“Effective appraisal quality control is high on everyone’s priority list as the industry balances appraisal quality, operations efficiency, and increasing compliance concerns,” stated Jennifer Miller, president of a la mode’s Mortgage Solutions Division. “The industry is working hard to comply all of these new appraisal regulations and frankly, no one has time to start from scratch and hope to build a compliant and effective QC process all by themselves. Sharing knowledge is a win-win for everyone.”
The white paper can be downloaded at www.MercuryVMP.com/QC.