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Mobile Property Inspection Technology Emerges

Accurate Group, a provider of technology-driven real estate appraisal, title data, analytics and e-closing solutions, today announced the next-gen release of its market-leading mobile app for property inspections. The GroundWorks app is the first of its kind in the industry, combining a crowdsourcing model, localized expertise and mobile technology to accelerate the delivery of more accurate interior and exterior property condition reports.

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The application connects Accurate Group’s nationwide network of pre-screened real estate property inspectors with lenders and servicers requesting property inspections. The app empowers inspectors with the ability to review, accept and respond to requests for property condition reports from any iOS or Android mobile device. Property inspectors in the GroundWorks network benefit from more business and a robust set of mobile tools for creating and delivering accurate property condition reports.

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Banks, mortgage lenders, loan servicers and credit unions benefit from faster turnaround on property inspection requests, plus the increased accuracy and insight that only a local, on-the-ground property inspector can deliver.

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The app enables local property inspectors to respond to incoming requests for property condition reports, use built-in GPS technology to pinpoint property location and leverage integrated camera support and sketch tools to capture property details. The app also allows inspectors to instantly capture relevant property specifications – essentially building the property condition report in real-time, all with the GroundWorks app. This ensures timely, accurate details are captured and delivered.

“Real estate lenders and servicers are always looking for ways to lower the cost per loan without sacrificing quality, accuracy and compliance. Accurate Group is leading the industry by applying the latest technologies – mobile, crowdsourcing, automation – to accelerate and improve appraisal management and valuation processes,” stated Scott Waxman, chief appraiser and president of Accurate Group’s ValueNet and GroundWorks divisions. “GroundWorks is changing the game in the real estate industry – we’re raising the bar on both interior and exterior property inspection turnaround times and delivering the level of accuracy that only local, on-the-ground expertise can deliver.”

Integration Designed To Streamline The Process

LendingQB and Accurate Group have launched a strategic partnership that will provide users of the LendingQB loan origination system (LOS) with streamlined access to Accurate Group’s appraisal, title and compliance products and services. As a result of the partnership, Accurate Group’s market-leading technology platform is now integrated with the LendingQB LOS platform to facilitate fast, seamless exchange of information — enabling better transparency and helping to shorten loan cycle times for lenders.

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As a result of the new integration, LendingQB users can now access Accurate Group’s appraisal and compliance solutions without leaving the LOS, including:

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>>Appraisal and Valuation Products & Services – Lenders can order from a complete range of traditional and alternative valuation products, including Accurate Group’s ValueNet product

>>Compliance Solutions – Lenders can lower risk and gain peace of mind with complete data transparency and compliance support from order-to-audit

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In addition, lenders will have the option to add Accurate Group’s traditional and streamlined title services and state-of-the art closing solutions, including eSign, giving them a single point of contact for all of their nationwide appraisal and title needs.

LendingQB’s LOS is completely web-based and designed with flexibility in mind. Its open-architecture application protocol interface (API) combined with Accurate Group’s open, standards-based architecture enabled the two platforms to be integrated simply and securely.

“As a provider of LOS technology, our goal is to enable lenders to access the services they need as efficiently as possible,” said Tim Nguyen, president of LendingQB. “Our collaboration with Accurate Group makes a range of valuable settlement solutions available at their fingertips, providing a major boost to productivity and simplifying the overall origination process.”

“The technology integration between Accurate Group and LendingQB is a powerful combination that we expect will deliver a great deal of value to lenders,” said Mike Cullen, CIO of Accurate Group. “We look forward to working with LendingQB to help lenders streamline the loan process, reduce cycle times and gain greater transparency into appraisal and title data.”

Integration Makes Appraisals More Data Centric

Accurate Group, a provider of real estate appraisal, title and compliance services, has completed a new interface for ValueNet, its desktop appraisal technology platform, with CoreLogic FNC. CoreLogic is a property information, analytics and data-enabled solutions provider.  Joint clients – including banks, credit unions and other home equity and mortgage lenders – will benefit from greater efficiency as a result of the direct interface between the FNC technology and ValueNet products.

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When used together, ValueNet appraisal data will be available as secure AI Ready XML for import to a lender’s loan origination system and the FNC GAAR review service. AI Ready is an industry standard that allows the secure delivery of valuation products as data. This seamless integration will provide valuable insight to lenders, stronger data governance and greater efficiency in the appraisal process.

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“We are excited to offer this integration to our clients,” said Emily Scheuer Lowe, FNC Product Manager at CoreLogic. “Our ultimate goal is to always provide the best support for our mutual clients. Giving them the access to this form as data will allow clients greater flexibility and configurability.” She continued, “We have enjoyed working with Accurate Group and look forward to our expanded business relationship.”

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FNC clients consuming ValueNet data will gain the ability to streamline the loan collateral valuation process, increase efficiencies for appraisal archiving and leverage FNC’s GAAR 360 automated appraisal review tools from CoreLogic. ValueNet is built around a USPAP-compliant desktop valuation process and is the leading desktop valuation solution on the market today due to its speed, accuracy and quality. The ValueNet technology platform is complemented by Accurate Group’s vetted, nationwide network of property inspection professionals and certified appraisers.

“The integration between FNC and ValueNet is a powerful combination of market-leading technology from two mortgage industry innovators that we expect will deliver a great deal of value to our joint clients,” said Paul Doman, president and CEO of Accurate Group. “We look forward to working with FNC to help lenders achieve greater efficiency and better insight into appraisal data.”

Updated Property Evaluation App Debuts

Accurate Group, a provider of real estate appraisal, title and compliance technology and services, has updated its mobile app for property inspections. The Groundwork app combines a crowdsourcing model, localized expertise and automated process workflows to accelerate the delivery of more accurate property condition reports. The application connects Accurate Group’s nationwide network of pre-screened real estate property inspectors and empowers them with an Uber-like model for securing and responding to requests for property condition reports. Banks, mortgage lenders, loan servicers and credit unions benefit from faster turnaround on property inspection requests, plus the increased accuracy and insight that only a local, on-the-ground property inspector can deliver.

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The application’s new interface and underlying architecture are designed specifically for use on mobile devices, making it ideal for on-the-go property inspectors. The app enables local property inspectors to respond to incoming requests for property condition reports, use built-in GPS technology to pinpoint property location and leverage integrated camera support to capture property details. The app also allows inspectors to instantly capture relevant property specifications – essentially building the property condition report in real-time, all with the Groundwork app.  This ensures timely, accurate details are captured and delivered.

Featured Sponsors:

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“Real estate lenders and servicers are always looking for ways to lower the cost per loan without sacrificing quality, accuracy and compliance. Accurate Group is leading the industry by applying the latest technologies – mobile, crowdsourcing, automation – to accelerate and improve appraisal management and title processes,” stated Scott Waxman, chief appraiser and president of Accurate Group’s ValueNet and Groundwork division. “Groundwork will change the game in the real estate industry – we’re raising the bar on property inspection turnaround times and delivering the level of accuracy that only local, on-the-ground expertise can deliver.”

Accurate Group Launches Next-Generation Appraisal And Title Management Interface

Accurate Group, a provider of real estate appraisal, title and compliance technology and services, has released a new responsive interface for its appraisal management and title services platform. The Accurate Archer platform gives banks, mortgage lenders and credit unions on-demand access to analytics and insight into revision rates, turnaround time, quality control and compliance. Smart process flow technology and built-in compliance rules accelerate turnaround times while also ensuring regulatory compliance. The interface also facilitates delivery of title and appraisal information using the most current MISMO-based datasets.

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In addition, lenders will benefit from the platform’s new responsive interface design, which will enable them to quickly and easily submit, monitor and track property appraisal and title requests nationwide from any mobile device or web browser. A version of the new interface designed specifically for appraisers will also be rolled out to Accurate Group’s extensive network of real estate appraisers.

Key highlights of the new Accurate Archer managed services interface include:

>>User configurable Dashcards that provide real-time information on key metrics, including open orders, upcoming orders due, orders past due, turnaround time, revision rates, lender action required, property owner action required, and more

>>Mapping technology that enables users to quickly identify details on each property location and do heat map analysis on regional appraisal demand

>>Real-time reporting and analytics capabilities that enable lenders and servicers to generate tables, charts and graphs based on user-defined variables, view aggregate trending data and gain greater insight into their overall appraisal management function

>>Unprecedented transparency into service level agreement (SLA) status and estimated delivery dates, giving lenders the ability to actively monitor Accurate Group’s performance as an outsourced service provider

“Real estate lending and servicing is a complex business that requires accurate, timely property valuations and title information as well as advanced knowledge of related regulatory compliance guidelines. Our latest release of the Accurate Archer managed services platform is designed to help our clients gain on-demand insight into critical information across all aspects of the appraisal management and title services function – from order generation to delivery cycles to trends over time,” stated Mike Cullen, chief information officer for Accurate Group.

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“Accurate Group is leading the market in delivering next-generation technology that enables lenders, servicers and appraisers to transform how they manage real estate appraisals and title information, resulting in improved cycle times, better compliance, lower costs per loan and a more profitable business.”

About The Author

[author_bio]

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.

Two Transaction Services Firms Link Up

*Two Transaction Services Firms Link Up*
**Investment Made**

link-up***Two privately-held real estate transaction services companies based in Cleveland have formed a strategic partnership. Accurate Group Holdings, Inc. (“Accurate”) has made an undisclosed investment to solidify its partnership with national title and settlement company OPTIMA Lender Services, LLC (“OPTIMA”). The investment and partnership signifies the interest of these privately-held companies to work together more closely to help grow each business.

****“We’re excited to be associated with an industry leader experiencing explosive growth nationally,” says OPTIMA CEO Monique Winston. A newer player in the real estate transaction space, the certified Minority Business Enterprise (MBE) launched in 2011, has already earned recognition and secured major clients. “Although Accurate is larger than we are and has been around longer, they share our high standards of excellence and an interest in utilizing cutting-edge, customer-friendly technology solutions.”

****The two companies also share a commitment to inclusion. “It was great to find a respected MBE partner demonstrating its desire to impact minority- and women-owned enterprises positively,” says Paul Doman, CEO of Accurate. “OPTIMA’s presence in the first mortgage space will further enhance our offerings and broaden our market opportunities. We are proud to partner with OPTIMA to expand our business and our commitment to diversity.”

****OPTIMA is on pace to double its revenue in 2013 and expects to expand its market share by leveraging its newest partner’s cost-effective valuation appraisal capabilities. Accurate continues to experience rapid growth in 2013 and is actively adding capabilities and investing in new opportunities to execute on its aggressive growth plans.

****The Accurate Group provides national real estate transaction services to the financial services industry with a focus on title information, valuation services and loan due diligence services. OPTIMA Lender Services, LLC is one of the few minority-owned and controlled vendor management/national title and settlement companies in the country. It provides clients with third-party services related to residential and commercial loan portfolios, including full title and settlement services on residential and commercial properties for purchase and refinance transactions, as well as certain title and settlement services to support the default and REO process. Additionally, OPTIMA offers title services for post-closing and audit functions to assist in the “clean up/correction” of deficient loan portfolios. OPTIMA clients include government organizations and private financial institutions.