SEATTLE, Wash., Dec 13, 2016 (SEND2PRESS NEWSWIRE) -- Appraiser Dashboard, a provider appraisal technology, has announced the launch of its namesake appraisal workflow and networking technology. Appraiser Dashboard is the industry's first appraiser-facing technology that automatically informs AMCs (appraisal management companies) and lenders each time the appraiser user takes action in the appraisal process.
Keeping all necessary parties informed is one of the primary challenges in the appraisal process, and a leading cause of delays. This is because there are numerous steps and no standardized process. AMCs and mortgage lenders each have their own unique processes to which appraisers must conform.
As a result, AMCs spend an estimated 60 percent to 70 percent of appraisal processing time following up and soliciting updates on appraisals, according to Appraiser Dashboard CEO Michael Wojcik. "You can ask any AMC or lender. They will tell you that communication delays are the most common problem in the appraisal process," he said.
"If an AMC hasn't heard back from an appraiser 24 to 36 hours after assigning an appraisal --and that's not only common, but completely understandable from an appraiser's standpoint -- it's likely that the AMC will start the process of reassigning that file to another appraiser," said Wojcik. "The issue is, a lot of appraisers may have started working on those assignments, but just haven't had time to update the lender or AMC. Reassignments cost everyone-the appraiser, the AMC, the lender and ultimately, the borrower."
Appraiser Dashboard prevents these miscommunications by automatically informing the AMC and/or lender each time an appraiser takes action in the appraisal process, so they don't have to spend time researching status or reassigning transactions that are already in progress. It also provides appraisers with a secure means for transmitting and storing data, which helps lenders meet requirements for third party oversight.
"Most appraisers are independent contractors who use free email service providers," said Wojcik. "Appraiser Dashboard offers a secure alternative that a lot of appraisers, AMCs and lenders feel better about using."
Appraiser Dashboard easily integrates with most appraisal management software (AMS) and loan origination software (LOS) systems. In lieu of a software-to-software integration, Appraiser Dashboard provides push email updates to any user-designated AMC or lender partner.
AMCs and lenders can integrate their software with Appraiser Dashboard in less than one week.
About Appraiser Dashboard
Appraiser Dashboard's namesake technology eliminates the most common delay faced by lenders and AMCs in the appraisal process. Built specifically for appraisers based on extensive research, Appraiser Dashboard is the first and only appraiser-facing workflow and networking technology that automatically updates lenders and AMCs on each step of the appraiser's efforts to complete the appraisal. Appraiser Dashboard was founded in 2016 and is based in Seattle, Washington.
For more information, visit https://appraiserdash.com/ or call (302) 219-0085.
News Source: Appraiser Dashboard
This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire. To view the original story, visit: https://www.send2press.com/wire/newly-launched-appraiser-dashboard-shortens-appraisal-turnaround-times-for-lenders-amcs-and-appraisers/