Full Service Appraisal Management

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APPRAISAL MANAGEMENT SERVICES

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Overview

Data Facts Appraisal Management Company delivers value-added solutions that can help lenders balance the need for compliance with appraisal quality. With Data Facts AMC Services, you have built-in peace of mind knowing your appraisers are operating with full independence. Plus, our suite of products enables you to customize the appraisal plan that’s right for your lending team.

 

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Full Service Appraisal Management

Speed up your appraisal process with Data Facts’ full-service appraisal management solutions. Let our experienced team eliminate the burden of managing your appraisal needs. In addition to traditional AMC services, our team can deliver QC Reviews, USPAP reviews and dispute management services. Take advantage of excellent documentation with our custom Appraisal Concern Investigation Report (ACIR) and Collateral Underwriter Response Evaluation (CURE) products.


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Panel Management

With Data Facts Panel Management, you select the appraisers you trust, and manage them through the Appraisal Firewall technology platform, which maintains appraiser independence through blind work distribution. We’ll handle assigning orders, monitoring communications, paying the appraisers, processing dispute requests and submitting to the UCDP/EAD.


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Technology Only

With Data Facts’ Technology Only option, you stay in control of the management process, while gaining access to our industry leading appraisal technology. This helps to ensure an unbiased rotation of orders and demonstrates separation between parties.


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Equity Lending Valuations

Let Data Facts help you design a customized solution with highly reliable and cost-efficient appraisal products. Our cascade of alternative valuation solutions is perfect for your equity lending requirements. 


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Customize Your Appraisal Experience

Experience a level of appraisal flexibility that only Data Facts can offer. Create your own appraiser panel that includes your very own trusted appraisers, or allow us to staff appraisers on your behalf.


Access our complimentary infographic "Appraisal Alternative: The New Normal" to discover more on this topic. Take a look at newly published guidelines that specify your options when it comes to appraisals.

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Partners and Affiliates

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The Mortgage Bankers Association is composed of mortgage lenders, brokers, and affiliated industry associates. The main goal of the MBA is to promote ethical, efficient, and professional business practices in mortgage financing, benefiting individuals and businesses seeking mortgage loans. Data Facts is a member of the following MBA chapters: The Massachusetts Mortgage Bankers Association, The Tennessee Mortgage Bankers Association, The Mississippi Mortgage Bankers Association, The New York Mortgage Bankers Association, The Mortgage Bankers Association of Arkansas and The Oklahoma Mortgage Bankers Association.


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Appraisal Firewall is a software company dedicated to providing relationship-based services to the mortgage industry for more than 30 years. From their inception in 1989, their focus has been to promote relationships between service providers and financial institutions. Today, millions of appraisals go through Appraisal Firewall in a safe, compliant environment that encourages local relationships.


Ellie Mae

Ellie Mae is a provider of enterprise solutions, including an online network, software and services for the residential mortgage industry. The Ellie Mae Network is one of the largest electronic mortgage origination networks in the United States and enables mortgage originators to securely conduct electronic business transactions with lenders and settlement service providers.

Frequently Asked Questions

Q: Why should lenders outsource appraisal management to Data Facts?

Our lender clients choose Data Facts as an AMC partner to create greater efficiencies for their loan processing and underwriting staff. We deploy our administrative and compliance expertise to offload “placing, chasing, review and delivery” of appraisal orders from the client’s staff to our team. This allows the lender’s staff to focus their time on pushing loan files through the pipeline to closing. We work in parallel to the client’s team to create optimized processes and more proficient loan management. The AMC fees are paid by the borrower, so you won’t have to absorb the administration expense associated with appraisals.

Q: Does Data Facts offer trials or demos of their AMC products?

Yes. Data Facts welcomes the opportunity to demonstrate the flexibility, depth and detail of our technology to customize an appraisal management solution that fits your lending process.

Q: How will I place orders?

You can place your order directly from your LOS system to our AMC platform via well-established integrations for many of the leading LOS systems such as Encompass, Calyx Point, Byte, FICS, Integra, Lending QB and PowerLender. Otherwise, Data Facts provides intuitive and user-friendly web access for all your staff, with unlimited access for order placement, communication, tracking, review and delivery in standard data, MISMO and PDF formats.

Q: How quickly are appraisals completed?

Turn times are heavily dependent on marketplace volumes, the number of appraisers approved for your panel, the complexity of the property, and the report type being provided. Limited format and drive-by reports can be turned in less than 3-5 days in most markets, while traditional GSE reports average approximately 10 days for most markets.

Q: How can I check the status of an order?

Our technology can deliver automated updates and direct communications from field appraisers as well as offer specific inquiries and logged messaging for statuses through our secure web services.

Q: Will I lose control of my current appraisal panel?

Not at all. Your existing panel of appraisers is a valuable resource you’ve come to trust. We’ll preserve that connection by onboarding any of the appraisers you’ve selected. We’ll organize their qualifications, automate their payments with ACH, and track their license and E&O insurance renewals. You’ll also have the option to enhance order management protocols with custom engagement letters delivered on each order. Data Facts will set up their coverage and fees based on their jurisdictional competence and history of good service.  

Q: I've heard that AMCs use appraisers that aren't from my local area. Is this true at Data Facts?

No. We’ll always use the most qualified, experienced and jurisdictionally competent appraisers available. For example, as part of the auto-assignment process, our technology can dynamically set appraiser selection limits by measuring the mileage from their office or home to the subject property. This enables us to choose only those appraisers that live and work in the surrounding communities.    

Q: Am I allowed to talk to the appraisers?

Yes, our clients’ processing/underwriting staff routinely communicate with appraisers to address complex assignments or to resolve questions about any particular order. We communicate through our platform, where we can monitor the requests and assist in clarifying any issues. This is always accomplished in accordance with appraiser independence requirements.

Q: How can we prove we're in compliance?

Our team is hyper focused on compliance at every stage of the process- from top to bottom, and from order entry to delivery. We monitor communications for compliant messaging between all parties, and advise on the best reporting formats We address complex properties for best practices, and we routinely communicate industry changes to USPAP, GSE guidelines, state AMC regulations and licensing standards. Data Facts can handle submissions to UCDP and EAD for risk scoring, and can provide curative responses to any findings.  

Q: What sort of quality control or review can be completed?

Data Facts offers both Administrative and USPAP Quality Control Reviews. Regardless of which option you select, reviews are completed by licensed and certified appraisers who review the field appraiser’s work for compliance with the client’s engagement letter, GSE requirements, overall completeness, and work quality. Our checklists can be customized to specific client needs, if appropriate.  

Q: Is startup training required?

Our setup and training is quick and easy. Typically, no more than an hour is needed to get started. Data Facts supplements training with ongoing coaching and staff education.

Q: Is there a setup fee?

There is never a setup fee or technology charge, other than the standard per-transaction fees for our tech-only product, or when costs are rolled into the service fee.

Our Partnerships & LOS Integrations:
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Data Facts is head and shoulders above the rest!

"Wow! I can't say enough good things about my experience with Data Facts. I have worked with a number of credit report providers but Data Facts is head and shoulders above the rest.  They are dedicated to getting us what we need and helping every step of the way. They make my job so much easier."

Mortgage Lending Manager

National Bank

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Appraisal Alternatives: The New Normal

With social distancing guidelines at top of mind, it's important to keep your borrowers safe, while obtaining the appraisal data you need.

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Need help to find the perfect solution for you?

For more information, to discuss your unique needs with a product specialist, or to request an estimate, connect with us.

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