Integration Seeks To Enhance The Appraisal Process

LRES, a national provider of commercial and residential valuations and asset management for the mortgage, banking, credit union and real estate industries, announced that its LRES DirectConnect integration hub now seamlessly connects with Exchange, offered by RealEC Technologies, a division of Black Knight Financial Services.

The Exchange platform connects more than 17,000 mortgage lenders and service providers, allowing lenders to efficiently order products and services 24/7 through a secure, standards-based platform.

Through this integration, LRES DirectConnect offers full valuation lifecycle management to lenders by delivering collateral valuation reports and supporting data in the MISMO industry-standard format and in proprietary format on the Exchange platform. Exchange’s portal enables LRES to more effectively and efficiently manage the valuation process by aligning with lenders’ specific workflow requirements.

LRES configured its backend system to integrate all events and individual stages within the valuation lifecycle to align with any lender’s specified workflow preferences, which keeps the lender and the appraisal management company fully aware of an appraisal’s status through regular updates.

LRES DirectConnect offers an integration framework that connects financial institutions and third-party systems to the LRES LINK order management platform to optimize and accelerate appraisal order processing.

“LRES DirectConnect’s platform seamlessly configures to Exchange, offering lenders a highly efficient and transparent appraisal experience,” said Bob Jennings, managing director of sales for RealEC Technologies. “As the industry requires better connectivity and collaboration to support new regulations, delivering an integrated solution to help improve efficiencies and meet compliance requirements is critical. We have a team dedicated solely to enhancing our technologies’ ability to connect and collaborate with partners like LRES.”

“LRES’ integration with RealEC’s advanced portal greatly benefits lenders by more efficiently enabling them to address specific workflow needs and keeping them fully abreast of the appraisal’s status throughout the process,” said Roger Beane, CEO of LRES.