Appraisal Firewall Release Information
For Friday, January 26th, 2018
Release Information for Managers
 
Starting Friday, January 26th, we will release an enhanced version of Appraisal Firewall.  With this release, we will be enhancing the Appraisal Report Comparison tool with lender specific pricing as well as making the Appraisal Scorecard available to everyone! Read below for complete detail.


  • Appraisal Scorecard Enhanced Automated Review Offering
    With the costs of compliance increasing your lenders’ origination costs, automating processes while maintaining accuracy is more important than ever. The Appraisal Scorecard is perfectly suited to the task, with the fully automated capacity to review appraisals, provide actionable data, recommend next steps to complete the review process, and demonstrate proper due diligence.

    While clients have had access to this new review product for some time, we are now ready to make the full switch. With this release, you will no longer have access to the old RealView automated review product. Any existing clients using the automated review tool will automatically be switched to the new Appraisal Scorecard that has more features and easy-to-understand data.

    How to use this feature:
    The new Appraisal Scorecard operates just like the existing automated review product. In your manager account settings, there is a new option for Enable Appraisal Scorecard for which you can set a default price. Once enabled, you can turn on the feature on a per lender/division basis.

    For details on using the new Appraisal Scorecard and reviewing the data it contains, access the     Appraisal Scorecard manual here.  

  • Lender Specific Appraisal Report Comparison Billing
    You asked and we listened – The Appraisal Report Comparison tool has been enhanced to allow you to charge on a per submission basis. Now you can set an amount that will be charged to your client every time an appraisal report comparison is run.

    How to use this feature:
    Within your manager settings, select the ‘Enable Appraisal Report Comparison’ box and optionally enter a default price.  Next, you will need to enable the feature on a per lender basis.  Within Relationships, maximize the info for a lender and click ‘Edit Lender Settings’.  Maximize the ‘Automated Appraisal Reviews’ section and click the ‘Enable Appraisal Report Comparison’ box.  You can optionally choose to override the default price and enter a lender-specific cost.  Make sure to save the changes you make.  On orders moving forward, whenever an appraiser uploads a subsequent report, the Appraisal Report Comparison will compare the new delivery to the previous delivery and display the differences in an easy-to-read PDF. 


For questions about this release, or to start offering the Appraisal Scorecard or the Appraisal Report Comparison tool to your lenders, please review and sign our agreement.