Mortgage Appraisal Support Services

Home appraisals are vital for the mortgage lending industry, so much so that the entire US Real Estate Appraisal industry is valued at $8 billion. Home appraisals are important because they paint an unbiased picture of the actual worth of a house in the fair market and require a lot of training and deduction skills through licensed individuals. Professional mortgage support services are, therefore, needed to ensure the home seller, the homebuyer, and the mortgage lender knows the true value of the real estate property.

Flatworld Solutions is among the leading outsourcing firm that has years of experience in liaising with professional appraisers and providing the right kind of support required for a pre-defined loan amount and the loan-to-value ratio. We save mortgage lenders and brokers time and effort by directly dealing with your mortgage appraiser while ensuring strict quality control over the appraisal for accuracy. Our offshore services go beyond the usual form filling and help you ask tough questions. If a property value is increasing gradually, we help you find out if this increase is sustainable. For each project, we begin afresh by re-examining your market to refrain from defensive appraising and give you all the support you need by providing value-added assistance.

Mortgage Outsourcing Benefits

Our Mortgage Appraisal Support Services

New real estate regulations place a broader emphasis on home appraisal compliance, and violations can easily lead to stiff penalties. Our back-office services can help mortgage bankers take a proactive approach and develop a compliant and extremely successful appraisal process from scratch. Our services include -

1. Broker Price Opinion Support Services

   In cases where lenders or brokers require a quick and professional valuation of the property and do not have time for an appraisal report, we can help provide them with insightful Broker Price Opinions (BPO) which in turn can help them determine the property value. The following services are included as part of our pricing opinion services -

   • Exterior inspection report
   • Property condition description report
   • Repair estimation
   • Property and street pictures
   • Property value estimate (30,90,120-day marketing times)
   • Neighborhood listings report
   • Satellite and location map

2. Mortgage Appraisal for Companies

   We provide a comprehensive range of services for companies, including broker price opinions, appraisal selection, and task allocation, appraiser enrolment, appraisal panel review, appraiser supervision, and comparative market analysis.

3. Mortgage Appraisal Review

   Under our mortgage appraisal review support services, when we receive the report from the appraisers, we review it while checking for accuracy, compliance (both UAD and USPAD), consistency, and overall thoroughness. This is where our experience in the mortgage field shines through, as having been the partner of choice for several mortgage brokers and lenders in providing affordable services, we know exactly what to look for in an appraisal report. We ensure every potential issue is potted and brought to your attention before things move forward, while also providing you with a clear analysis of the factors which we believe are influencing the appraisal value.

4. Real Estate Appraisal Data Entry

   Our services are in huge demand among real estate appraisers, mortgage lenders, and borrowers. Our data entry experts assist in appraising mortgage lending records, property tax assessment, buyer and seller negotiations, property M&As, lease documents, etc. within the promised time.

5. Mortgage Appraisal Ordering

   Every mortgage underwriting department must deal with a huge roster of title appraisal companies and independent appraisers as a part of their mortgage process. Appointments also need to be set by the homeowner so that the appraisers can examine and photograph the property within a short time. It takes a well-coordinated support system to ensure that the appraisals are being ordered and reports are being sent back on time by the appraisers.

   With a team of back-office experts well-versed in the process, we can order appraisals from the appraisers who can do your work within a few minutes of receiving your request or from your lenders. Our team regularly follows up with the appraisers to ensure everything goes according to plan and the scheduling, inspection, and reporting on the property's appraisal gets completed within a short turnaround time.

6. Comparative Market Analysis

   When you outsource mortgage appraisal support to FWS, we also provide extremely professional comparative market analysis (CMA) services to determine the listing price quickly and accurately for the property. Our services include -

   • Interior and exterior property description
   • Property pictures and interior photographs
   • Itemized list of repairs and estimated cost of repair
   • Homeowner association details
   • Listing of all properties sold in the vicinity
   • Active listings for properties on sale in the vicinity

7. Fannie Mae Appraisal Reports

   All our appraisal reports are in strict adherence to government laws and regulations, as well as in conformance with HUD/Fannie Mae guidelines. Some of the many reports we can help you generate include -

What Sets Our Mortgage Appraisal Support Apart?

Flatworld, a pioneer mortgage appraisal support company, offers end-to-end appraisal support services for mortgage lenders that cover a wide range of functions including processing related services and appraisal title checks amongst others. Our team of highly skilled individuals helps you make informed decisions and provide complete validation, evaluation, and review for the appraisal process. Our skills ensure the final appraisal report of value covers the following aspects correctly -

• Size and overall condition of the property in question
• We leave behind comments about serious structural problems such as problems with foundations, basements, improper roofing, broken doors, and windows, etc. for you to go through
• Permanent fixtures such as lights, fans, and plumbing are checked as per the report and verified
• Home renovations such as kitchens, bathrooms, or new flooring are mentioned separately so that they can be easily referred to during the appraisal process
• We also leave comments about the vicinity of the property and include both positive and negative local features
• A detailed current market analysis is provided which includes recent sales in the same area, and other comparable homes

Our Mortgage Appraisal Support Process

We understand the amount of workload that our clients have, and therefore when outsourcing to us, we ensure simplicity and compliance are always maintained so that you have very less to do while leaving the process to our experienced professionals. Our process includes -

01

ORDER

You raise an appraisal request through our portal, which is readily available 24/7

02

BID

We open a bidding session for all the appraisers who have been earmarked by you

03

SELECT

The winning appraiser is selected based on your pre-mentioned criteria

04

ENGAGE

The appraiser is contacted on your behalf and explained each and every requirement carefully

05

MONITOR

Throughout the process, we monitor the appraiser and ensure all their requirements are met so that they can provide the report as soon as possible

06

REVIEW

Our team of experienced mortgage professionals ensures that the appraisal report is 100 percent compliant and includes all the details requested by you

Benefits of Outsourcing Mortgage Appraisal Support Services to FWS

Now more than ever, mortgage lenders need to focus on their key deliverables to compete in the cutthroat mortgage world, while sticking to regulations and byelaws which change year upon year. When you outsource to us, we help you benefit from the following -

• Save Time and Money - Finding an appraiser is not an easy task, and the time spent on finding, hiring, and making sure the appraiser is compliant with your requirements could easily be spent elsewhere. Partnering with Flatworld can help you access a pool of trained and trusted experts, we have worked with previously, ensuring you save time as well as the financial resources which would have been spent otherwise.
• Clear Your Firm's Work Pipeline - Our streamlined delivery system ensures you are always on top of the process. Ensuring that you and your team are always informed about the matters helps clear the mental fog that comes with trying to manage time-consuming backend processes such as this. Outsourcing to us allows you to focus on the core functions of your business as well.
• Always Remain in Compliance - More than three-fourths of US-based mortgage lenders cite compliance as their top concern when it comes to providing quick and efficient customer service. New rules are often issued by the OCC (Office of the Comptroller of the Currency) and the FDIC (Federal Reserve and Federal Deposit Insurance Corporation) which have a significant impact on how lenders ply their business. By partnering with us, compliance becomes a headache of the past, as we always ensure that we remain up-to-date with the latest policy changes and how they affect our appraisal services.
• Extravagant Security Measures - If you have ever wondered about the confidentiality and privacy of your customer's data, then worry not. Our state-of-the-art infrastructure ensures all the security measures are taken care of and the confidentiality of your customers is always retained.

FWS Helped a Mortgage Valuation Company to Touch Targeted Appraisal Service Deadline

A mortgage valuation company contacted FWS to outsource appraisal support due to inferior results delivered by the previous provider. Our solution surpassed the client's expectations and the results were better within the deadline.

Read more

Choose Flatworld Solutions for Mortgage Appraisal Support Services

When you outsource appraisal quality control support to us, you are assured of the best appraisals delivered in the quickest time possible. Moreover, you can free up your internal resources to focus on your core business activities and grow your business. Our mortgage support services are custom-tuned as per your requirements and budget, and we promise 100% compliance with all US and UK mortgage lending laws.

Contact us and see how Flatworld can offer you support for appraisal ordering and quality control processes.