Embracing Appraisal Accuracy

Bradford Technologies, a provider of in computer-aided appraising technology, has integrated its ClickFORMS appraisal technology with Platinum Data Solutions’ FreeAppraisalReview.com, a zero-cost appraisal review technology created specifically for residential real estate appraisers. Starting in mid-February, every appraisal prepared with ClickFORMS will be automatically reviewed by FreeAppraisalReview.com.

Based on Platinum Data’s RealView appraisal quality technology for lenders and AMCs, FreeAppraisalReview.com is a comprehensive and cost-free appraiser-facing appraisal review technology. It takes only seconds to screen appraisals for the most common causes of returned appraisals, including Collateral Underwriter’s “hard stops” and warnings, and to report its findings in simple, actionable language.

“This integration makes ClickFORMS the only technology of its kind to provide this caliber of screening, automatically, on every single appraisal,” said Jeff Bradford, CEO of Bradford Technologies. “We’re in a market where mistakes and oversights can bring about some very unwanted consequences. By screening every appraisal with FreeAppraisalReview.com we’re helping our ClickFORMS users protect their reputations, work better and faster with their lender and AMC customers, and prevent losing valuable time dealing with reviewer requests.”

On January 26, 2015, Fannie Mae began using Collateral Underwriter to evaluate appraisals. Many appraisers have expressed concern about how its use will impact them not only on an individual level, but also for the appraiser community as a whole.

“Bradford Technologies’ entire focus is on addressing appraiser needs,” said Bradford. “Appraisers are concerned about CU and other review systems. Automatic screening through FreeAppraisalReview.com is just one more way we’re setting ourselves apart as appraisers’ best, safest choice in appraisal report processing technology.”

“We’re very happy to be partnering with companies like Bradford Technologies that understand the future of the appraisal segment is all about leveraging data and analytics,” said Platinum Data’s CEO Phil Huff. “Platinum Data provides user-specific analytical tools that help appraisers, AMCs and lenders to protect themselves and ultimately, to self-regulate when it comes to appraisal quality. Bradford is furthering that cause by assuring that 100% of their appraiser customers are protected by the objective, thorough analysis of FreeAppraisalReview.com.”

Bradford Technologies is known for pioneering computer aided appraising, the process of utilizing analytical technology to help appraisers determine the value of a property. Its ClickFORMS technology, known for its powerful, yet intuitive simplicity and ease of use, has distinguished itself among the appraiser community with its faster ramp up times and significantly lower support requirements.

About The Author

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Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.