Appraisal Firewall,  SIR's Appraisal Order technology, helps lenders comply with Appraiser Independence Requirements and yet allows them tocontinue working with their existing appraiser relationships. Appraisal Firewall is a compliance option for lenders who do not want to give up their long-standing appraiser relationships.
Maureen Devine, Senior Vice President of Strategic Information Resources says "Lenders need to ensure their own Independence compliance by instituting a number of additional  processes into their already-complex lending practices.”   Appraisal Firewall offers the compliance features that a lender needs to fit precisely into their processes. These features are designed specifically to save lenders time and minimize the impact of Appraiser Independence on lender business.
 
Financial institutions that use the Appraisal Firewall platform can keep their established appraiser relationships intact. This lets them maintain the quality of their appraisals, comply with the host of new compliance requirements and can save them time and money.  These are all rare benefits that can be passed on to their customers.
 
A New England banker writes, “Our bank, as well as our appraisers have found the system very user friendly.   The appraisers, who also use other types of AMC systems, find this system one of the easier ones to use.  Our bank is able to choose the turnaround time so our turn time has actually improved.  When a borrower brings up an issue with a report, this AMC is very helpful in resolving the issue in a timely manner.  I find that resolutions on issues is much easier for it has the bank removed from much of the conflict".
 
Wholesale lenders also benefit from Appraisal Firewall. They can approve and setup a panel of appraisers, then allow their broker channel to initiate the appraisal process on a lenderˋs behalf from the lender-approved portal. The lender then manages the transaction from beginning to end.
 
One area Wholesale Lender writes, “We have benefited from the use of this appraisal management system because everyone wins.  The appraisers are pooled to location in which they are familiar, which ultimately benefits the borrower, the lender and the broker.    We have also found that the technology and system is competitive in price, which again benefits everyone.”
 
"When lenders continue to work with their existing appraisers and can get the security of knowing they are completely compliant with new independence requirements, both the lender and the appraiser see positive results," continues Devine. 
 
Strategic Information Resources is a New England based company with over 80 years of experience in helping clients make better decisions.   Clients have come to rely on us for knowledgeable customer support and our comprehensive products and services. Contact us today for a live demonstration of our firewall appraisal technology, appraisal order done right, 1-800-332-9479, ext 362.