TheMReport — News and strategies for the evolving mortgage marketplace.
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20 | Th e M Rep o RT Feature times, staff can be focused on other corporate goals such as additional training or education while management remains con- fident that business operations have not been degraded and standards have been maintained. The lift provided by automa- tion also lies in providing ready access to the relevant information needed to make the best deci- sion for each particular situation throughout the organization as a whole. This eliminates the time-drag of searching for infor- mation or the resource to find information. It also eliminates issues associated with potential discrepancies in information from multiple or varying sources over time. This, in turn, eliminates possible compliance problems from inconsistencies that do not meet business, regulatory, or investor requirements. In the arena of appraisal analysis, automation provides the relevant data and metrics needed for the manual review and analy- sis. This means it also helps turn down the noise from additional information that is not useful or helpful to the overall assessment of the collateral report, which in itself lifts efficiency in the process. Data and metrics from a single source that also helps eliminate potential discrepancies or inequities caused by access- ing data from varying sources. To further maximize efficiency, automated appraisal analysis incorporates the relevant data and metrics with the appraisal infor- mation to return directions and decisions that focus staff attention on the areas where it is needed while ensuring confidence that no point of risk has been ignored. Finally, the speed of automation means the request for service or product can be answered almost instantly. This means on-demand service fulfillment with little or no time wasted waiting for either a response to continue the manual appraisal analysis or the results of the fully automated analysis to take the appropriate next step. Consistency C onsistent application of business rules that lead to decisions on lending and man- aging loans is mandatory. Sub- jective application of processes and parameters is no longer acceptable business practice, and regulatory requirements allow significant penalties for disparate or inconsistent treatment. Automation eliminates inconsistency in its processes. It performs the same operations each time, whether that includes a simple request and response or a complex and sophisticated analysis applying multiple layers of rules and reasoning to arrive at a compliant conclusion. Automated reasoning can include the organization's particular business rules and processes along with industry-standard guidelines to ensure the appropriate review for any and all characteristics is performed. It can also be directed by geographic or risk criteria to ensure each analysis fully addresses the current situation, such as more stringent property condition requirements in disaster areas or greater attention to ownership and transaction history in high-fraud markets. Automation ensures the analysis will not overlook or ignore a detail or miss a requirement—if it is in the rules, it will be in the analysis and in the results. In contrast, manual analysis is subjective and relies entirely on the analyst's training, experience, and perception—not to mention the amount of sleep they got the night before, quality of their most recent meal, distractions, and other types of interruptions that plague us all. While manual processes and their results are determined by our human condition, automation is entirely separate and consistent. Deeper Insight and Effective Risk Management G reater scrutiny and focus have demanded intimate knowledge and insight into the quality, value, and resulting marketability of loan collateral. It all then translates to more ef- fective risk management for the organization. Deeper insight into the fair market value of the collateral offered through automated solutions contributes to the overall lending decision. It contributes to the ongoing management decisions for optimizing performance, best secondary execution, potential cross-selling, and even loss mitigation. Standalone manual analysis of an appraisal report does not provide that deep insight. Black-box review from an investor or GSE does not provide that insight, though it may provide some pricing relief or warranty against loss. Whether from automated products and services for data and metrics to enhance the manual analysis or from a fully automated analysis that is transparent and delivers directive results, effective risk management must have that deeper insight to be successful. Automation in Appraisal Analysis T oday's business environment and market size require all of us in the mortgage industry to think innovatively about how we will survive and thrive. Some may survive through traditional strategies of reduced staff manually processing and managing the business. Others may take a step beyond and continue or expand their use of automated products and services to enhance their manual pro- cesses and management. Those who take the additional steps with automation and automated analysis to provide operational lift will be the ones who thrive and are best prepared for the next chapter in our industry. Automated appraisal analysis is one of those additional steps that can make the difference between surviving and thriving—which path will you take? Automation performs the same operations each time, whether that includes a simple request and response or a complex and sophisticated analysis applying multiple layers of rules and reasoning to arrive at a compliant conclusion. Accurate Title Group Steve Black Serving all 50 states 888.456.4383 x1604 sblack@accurategroup.com Affinia Title Josh Magnuson Serving Georgia, Florida, Alabama 678-281-6506 josh.magnuson@affiniacorp.com Albertelli Law Jonathan Sawyer Serving Florida, Georgia 813-221-4743 jsawyer@albertellilaw.com Alliance Title & Escrow Corp Jenny Martin Serving Idaho, Montana, Washington, Wyoming 208.947.4204 jenny_martin@alliancetitle.com Bay National Title Company Evan Grimm Serving Florida, Wisconsin, Colorado, Michigan, New York, Ohio, Missouri, New Jersey, Iowa, Minnesota, Pennsylvania, New Hampshire 727.331.8500 egrimm@bntc.com Black McLaren Jones Ryland & Griffee, P.C. Drew Johnston Serving Tennessee, Mississippi 901.762.0535 djohnston@blackmclaw.com Brady and Kosofsky Jaime Kosofsky Serving North Carolina, South Carolina 704.849.8008 jkosofsky@bandklaw.com California Title Company David Skarman Serving 38 states, please call for information 949.582.8709 davids@caltitle.com Clear Title America Stephen Dorsett Serving Florida, Alabama, Colorado, Indiana, Kansas, Michigan, Minnesota, North Carolina, Virginia 813-288-1660 sdorsett@cleartitleamerica.com Continental REO Services, Inc Katie Van Hook Serving Missouri, Kansas, Wisconsin, Nebraska, Arkansas, Colorado, New Mexico, North Dakota, South Dakota, Minnesota, Ohio, Iowa 314.862.2447 kvanhook@creoco.com Delta Title Corporation Howard Leach Serving Louisiana, Mississippi 504.885.9222 hleach@deltatitlecorp.com Elizabeth Wellborn, PA Elizabeth Wellborn Serving Florida, New York 954.354.3544 ewellborn@erwlaw.com Federman & Associates Thomas Federman Serving Pennsylvania 215.572.5095 tfederman@federmanlegal.com First Financial Title of MN Larry Zielke Serving Minnesota 952.831.5010 lzielke@logs.com First International Title Jim Moran Serving Florida 954.905.3881 jim.moran@firstintitle.com First Title and Escrow Stephen Papermaster Serving 38 states, please call for information 301.279.0303 spape@firsttitleservices.com Freedman, Anselmo, Lindberg Jennifer Hester Bross Serving Illinois, Ohio, Indiana, Kentucky, Michigan 513.515.9917 jbross@fallaw.com Independence Title Brian Pitman Serving Texas 512.454.4500 bpitman@independencetitle.com Kahane & Associates/Florida Premier Title & Escrow Company Robert Kahane Serving Florida 954.356.1280 robert@reofl.com Kozeny & McCubbin, LC Garry McCubbin Serving Missouri, Kansas, Nebraska, Oklahoma, Illinois, Indiana, Texas, New York 314.991.6755 gmccubbin@km-law.com Landcastle Title Kenny Daniel Serving Serving Alabama, Arkansas, Deleware, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, North Carolina, South Carolina, Ohio, Tennessee, Virginia, West Virginia 440.735.6473 kddaniel@closingsource.net Liberty Bell Agency, Inc Jim O'Rourke Serving Pennsylvania 215.625.3660 jim@libertybellagency.com LSR/InTitle Richard Rothfuss Serving Ohio and Kentucky 513-412-6600 rmr@lsrlaw.com Manley Deas Kochalski Paul Blevins Serving Ohio, Kentucky, Indiana, Illinois 614.947.5744 peb2@manleydeas.com McCurdy & Candler Deborah Cheek Serving Florida, Georgia 404-373-1612 dcheek@mccurdycandler.com McDonnell and Associates, PA Dawn Player Serving South Carolina, North Carolina, Georgia 866.931.8793 dawn.player@mcdonnelllawfirm.com Merit Title Andrea Laster Serving Wisconsin, Illinois 414.257.0068 andrea.laster@merittitle.com Nova Title Agency John Dyer Serving Ohio 330.425.4201 jdyer@novatitleagency.com Ohio Title Corp Annamarie Tucky Serving Ohio 440.886.6141 atucky@ohiotitlecorp.com Oklahoma REO Closing & Title Services Vicky Blackmon Serving Oklahoma 918.491.3123 vblackmon@oreotitle.com Omega Title Agency Shannon Moore Serving Ohio, Kentucky 330.436.6700 smoore@omegatitlellc.com Paramount Land Jeffrey Zipser Serving New York 631-224-1345 jzipser@paramountland.com Parks Title/Potestivo & Assoc, PC Julie Mckee Serving Michigan, Illinois 248.591.2751 jmckee@parkstitle.com Pierce & Associates, P.C. Jill Rein Serving Illinois 312-476-5156 jrein@atty-pierce.com Riley Pope & Laney Lowndes Pope Serving South Carolina 803-799-9993 lpope@rplfirm.com Rosenberg & Associates Diane Rosenberg Serving Maryland, Virginia, District of Columbia 301.907.8000 diane@rosenberg-assoc.com Rubin Lublin Jason Thurber Serving Georgia, Tennessee, Mississippi 770.246.3300 jthurber@rubinlublin.com Security Title Services Mike Nichols Serving Indiana 317.590.4848 cmichaelnichols@aol.com Serrano McKinney Umpierre Frances McKinney Serving Georgia 770.951.2223 fmckinney@smulawfirm.com Sojourner Title Brad Reisenfeld Serving Indiana, Ohio, Kentucky, West Virginia 317.844.4039 brad.reisenfeld@rslegal.com Terra Abstract Stern and Eisenberg Steve Eisenberg Serving Pennsylvania 215.572.8111 seisenberg@sterneisenberg.com The Hunoval Law Firm, PLLC John Langston Serving North Carolina, South Carolina, Virginia 704.626.4364 john.langston@hunovallaw.com Title365 Michelle Hymer Serving 42 states, please call for information 763-295-3513 Michelle.Hymer@Title365.com TitleOne Joel Scrivner Serving Idaho 208.866.2702 jscrivner@titleone.com T H E F I V E S T A R D E F A U L T T I T L E C O A L I T I O N THE FIVE STAR DEFAULT TITLE COALITION Join the Coalition today. For more information, contact: Brent Lockhart | 214.525.6709 | Brent.Lockhart@TheFiveStar.com TitleCoalition.com Our Proud National Sponsors: Associate Member: The Five Star Default Title Coalition is the first industry group dedicated to default title and closing professionals who specialize in lender-driven transactions and post-acquisition legal and title work. Through education, best practices, communication, and networking, the Coalition is committed to advancing the default title space and providing its members a collective voice of influence within the mortgage industry. Best in Title