One of the important aspects of mortgage loan processing is determining the fair market value and appreciation rate of the collateral property involved in the mortgage. Improper assessment can lead to undervaluation or overvaluation of the subject property. When your company is dealing with multiple, often time-sensitive mortgage applications, it becomes necessary to streamline this step of the mortgage process.
Working with Outsource2india can help your organization by freeing up valuable time and resources. We help your underwriting team save a significant amount of time and trouble, since we directly work with appraisers to ensure that the appropriate type of appraisal is requested, and by following up on every little detail in the appraisal to get the most accurate assessment of the property's value.
Our mortgage appraisal services include:
Reviewing appraisals is perhaps the most tedious and resource-intensive task in mortgage processing. Our team of underwriters and loan experts directly work with the appraisal company to ensure an accurate assessment of the property. We verify the property's sales history, maps of the location, the appraiser's signature, license number, and other key details.
We also identify any discrepancies and roadblocks that may delay loan processing. We request reviews with the appraiser to revise the appraisal in case the valuation seems incorrect. By ensuring that the appraisal report is error-free and correctly values the collateral property, we help clear loans faster and with greater accuracy.
The underwriting department is probably the most overworked in a financial institution. It has to constantly work with a long list of appraisal companies and individual appraisers, and regularly schedule appointments with homeowners to let appraisers examine the property and take photographs.
Later, the appraiser starts the process of valuing the property based on various factors. This process is time consuming and is susceptible to delays. Not following up can result in increasing processing time and adding costs. These costs and delays add up over time and can slowly creep into your firm's bottom-line. Flatworld Solutions understands the nuances of this process and has great experience with the appraisal process.
By expertly dealing with the minutia of the appraisal process, we help expedite it and lower appraisal-related expenditures to give our clients a competitive edge. We use a combination of manual and automated processes for appraisal review, and can bulk-process appraisal applications as well.
Outsource mortgage appraisal review and ordering to Outsource2india and enhance your company's bottom line.