Continuing The Integration Conversation

*Continuing The Integration Conversation*
**By Tony Garritano**

***Yesterday I talked a bit about the power of integrations in making your LOS really beneficial. Well, beyond simple integrations, you also need to look for tighter integrations and integrations that enable you as a lender to be innovative. For example, Platinum Data, a provider of collateral valuation technologies, has announced that its technology has been integrated within SharperLending’s systems. This integration will provide community lenders, credit unions and mortgage companies using SharperLending with seamless access to Platinum Data’s suite of products, including RealView, the industry’s first and only automated appraisal quality verification technology. Here’s the scoop:

****RealView will be integrated into SharperLending’s Appraisal Firewall and Bundled Services platforms, while Platinum Data’s independent automated valuation models (AVMs), flood solutions and RealCondition property reports will be available through SharperLending’s Bundled Services platform. SharperLending’s Appraisal Firewall is a secure, web-based technology solution that enables lenders to manage their own appraisal process. With Appraisal Firewall, lenders can work with their trusted local appraisers and appraisal management companies (AMCs), all in one system, to achieve management-level control, multi-department efficiency, and compliance with all appraisal independence regulations. The company’s bundled services platform is an online point-of-sale service that enables lenders to easily order and pay for all of the products and services needed to close a loan.

****“In mortgage lending, the consequences of inadequately verifying appraisal quality and compliance can literally ruin smaller businesses,” said Phil Huff, CEO of Platinum Data. “As a company that’s committed to helping these organizations compete on a national level, SharperLending understands not merely the value, but also the necessity, of offering technologies like Platinum’s RealView and RealCondition report, which provide unfaltering protection against these costly risks. This integration provides their customers with the highest level of safety in the value decisions that can literally make or break a company.”

****RealView analyzes for compliance, completeness and consistency by evaluating every field on an appraisal report. It cross-checks each field against data from public and private sources and analyzes over 2,000 data points to help ensure each appraisal meets with every regional, local and state regulation. Built on a rules-based platform, RealView can be configured to accommodate each user’s specific guidelines in a matter of hours, while the industry standard currently spans months.

****The RealView Plus feature offers an accurate appraisal valuation score (AVS)—a numerical “confidence factor” that indicates the probability of the property’s actual value aligning with the value provided on the appraisal. Lenders are able to adjust that score based on their own risk tolerances.

****When combined with an AVM, Platinum Data’s RealCondition report produces a compliant, underwriter-ready evaluation. Photo and condition reports, like those provided by RealView, are now required by law when used with an AVM for home equity loans and home equity lines of credit valued at $250,000 or less.