"For many borrowers, the appraisal is the most stressful step in a refinance: part mystery, part high-stakes hurdle. Will the home appraise high enough? Will it delay closing? What actually determines the final value? Lenders can help ease these concerns by adopting the right combination of technology, strategy, and partnerships to modernize the process. A more transparent and streamlined approach not only keeps borrowers better informed, but it also contributes to regulatory compliance, improved employee engagement, and significant cost improvements for lenders as well."
"At the core of this transformation is better control over appraiser assignment, coordination, and communication. Rather than relying on fragmented vendor models or trying to manage panels in-house, many lenders turn to appraisal management companies (AMCs) that curate, govern, and oversee panels of licensed professionals vetted for quality, coverage, and compliance. But the key to transformation is one step beyond: it's selecting not just any AMC,"
Modernizing the appraisal process requires technology, strategy, and partnerships to reduce borrower anxiety and shorten refinance timelines. Strong oversight of appraiser assignment, coordination, and communication improves control and consistency. Many lenders use appraisal management companies (AMCs) to curate and govern vetted panels of licensed professionals for quality, coverage, and compliance. Prioritizing AMC partners with transformational, real-time digital scheduling that syncs with appraisers' calendars and integrates into point-of-sale and origination systems enables borrower self-scheduling, immediate confirmations, milestone communications, and appraiser arrival notifications. These steps increase transparency, instill borrower confidence, reinforce brand, and reduce manual work and costs.
Read at www.housingwire.com
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