Platinum Data Solutions, a provider of valuation data and analytics solutions, has launched RealView QB (Quality Bridge), an appraisal quality technology that allows users to authorize access and share information with third parties, including lenders, AMCs, appraisers and investors.
RealView QB is a workflow feature in RealView, an appraisal quality technology. It enables a single, centralized system of record for appraisal quality control. With RealView QB, users can invite virtually any relevant party to access their appraisal quality and underwriting process on a limited, user-defined basis. These third parties simply log in to RealView, review appraisal QC results and immediate take action. Examples of these actions include resolving issues, providing explanations or revisions, asking questions, such as clarification on comp selection, and much more.
By sharing a single system of record, RealView QB can eliminate some of the most time consuming, error-prone activities in the mortgage process, such as rekeying appraisal information, communicating findings and requesting additional information.
“The back-and-forth nature of the appraisal QC process slows the mortgage process and costs companies thousands of dollars each year. Plus, when lenders, AMCs, appraisers and investors operate in silos, it’s difficult to achieve transparency,” said Phil Huff, president and CEO of Platinum Data. “RealView QB’s real-time information sharing reduces mistakes and repetitive tasks while bringing transparency to appraisal QC. All parties benefit from lower costs and protected margins, and the industry as a whole gains the transparency it needs.”
About The Author
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 email@example.com.