Among the many factors that underwriters have to consider during the processing of a mortgage, the formal appraisal report is one of the most important. Financial institutions order millions of appraisals every year, expending vast amounts of time and effort into obtaining these critical reports. Auctor Business Solution can simplify the process for brokers and lenders by taking on the responsibility of ordering and reviewing appraisals, including follow-up work. We save our customers massive amounts of time and expenditure and let them focus on growing their core business.
Dealing with an appraisal company can sometime cause delays, especially when your processing team has a large number of loans in the pipeline. They need to follow-up to make sure that the appraisal order has been received and that the appraiser’s visit to the premises has been scheduled. Moreover, following up with the appraiser to ensure that all the necessary details have been included, and that the report is being sent on time, is a time consuming, iterative process.
Auctor Business Solution has an experienced team and a robust follow-up process that helps mortgage companies order and receive appraisals on time, every time. We order appraisals with the respective appraisers within a few minutes of the request being received. Our follow-up team works with appraisers to ensure the every appraisal order gets fulfilled with the least possible turnaround time. Outsourcing appraisal ordering to Auctor will help you focus on your core business processes while we improve the turnaround time for appraisals.
One of the critical aspects of mortgage processing is ensuring that the subject property is well worth the loan amount. Lending on a property that has declining market value could result in an unsellable loan for a broker and a high-risk loan for a lender. The appraisal review process helps mortgage companies identify any critical issues with the property, and is an indispensable part of the mortgaging process.
Auctor has extensive experience in appraisal reviews for a variety of loan types. Our team consists of experienced underwriters and processors with years of appraisal reviews under their belts, relieving our customers from the burden of handling this time-consuming, yet important process. We examine each appraisal with utmost care and accuracy and request revisions by appraisal companies as and when required. Outsourcing your appraisal review process to us will help you overcome one of the biggest operational inefficiencies and significantly improve your turnaround on loan processing.