TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/57493
ON THE WEB Clarity AMC better serve its existing clients and grow its business by simplifying process management with a design that is easy to use for the AMC, their customers, and appraisers." Graystone and Appraisal Logistics Opt to Continue Partnership THE TWO COMPANIES RECENTLY ANNOUNCED THAT THEY WOULD CONTINUE TO COLLABORATE ON COMPLIANCE AND RISK MANAGEMENT INITIATIVES. G platform provider. With the addition of ValuLink's system, Clarity AMC will benefit from a customized, cloud-based appraisal management program designed to facilitate enhanced business processes. Clarity AMC will utilize ValuLink's platform to expand its appraisal ordering client base and automate many internal tasks that previously required manual support. With the new technology in place, Clarity AMC will protect its bottom line by avoiding the expenses and personnel decisions that can ac- company a less efficient appraisal management system. Jason Bennett, co-owner of Clarity AMC, said of the com- pany's partnership with ValuLink, "We chose ValuLink for its ability to change the way we do busi- ness through its automation. The software platform has already made us much more productive, letting us do more business with the same amount of employees. Now if we grow by 5,000 ad- ditional orders, we will not have to add another person. We expect that kind of growth at our com- pany this year." Continuing his positive commentary, Bennett added, "ValuLink is a true business partner. They came in to our offices and we explained what features we needed and they put it together for us. The system through automation does all the things we used to do manually. ValuLink's customer service is second to none, too. They fol- lowed up quickly and thorough- ly to every inquiry we made." ValuLink's technology provisions for Clarity AMC include intuitive features for vendor enrollment, appraisal order placement and storage, and full accounting support. Additionally, Clarity AMC will gain a preview engine for the Uniform Appraisal Dataset, as well as a mobile smartphone application that allows appraisers to accept or decline an order while in the field. Scott Schneider, executive vice president of ValuLink, noted, "Clarity AMC relies on accurate, compliant, and timely reports to keep their crucial high-growth clients happy. As AMCs expand into more states and state registration fees take a larger bite out of profits, they need next-generation technology that increases efficiency and accuracy while simultaneously helping them maintain profitability. The ValuLink platform is helping THE M REPORT | 11 raystone Mortgage and Appraisal Logistic Solutions Inc. have announced the continuation of their standing partnership. Currently, Appraisal Logistics facilitates compliance and risk management for Graystone, ensuring the quality of its lending transactions. Appraisal Logistics special- izes in compliance management for appraisal independence, and the company handles an esti- mated $250 million in loans for Graystone each year. The part- nership between the two entities was initiated when Graystone, like all lenders, became subject to the appraiser independence standards contained within the Dodd-Frank Act. Commenting on the next phase of the relationship between Graystone and Appraisal Logistics, Graystone's president, Bob Rader, said, "The rules have changed. Today's lending environment demands the next level of service and expertise from any industry partner. We need an appraisal management company that can ensure 100 percent compliance while delivering quality apprais- als." Rader went on to add, "We evaluated numerous firms providing appraisal management services and ultimately partnered with Appraisal Logistics because they deliver the level of commu- nication and industry expertise that we need to run an efficient, productive, and successful mort- gage lending operation. We lever- age Appraisal Logistics' guidance daily, processing more than 100 orders a month on average." Echoing Rader's statements, Appraisal Logistics' CEO, Frank Danna, noted, "Using a third- party appraisal management company allows a mortgage lender to outsource the risk of the entire process to better use [its] own internal resources. Lenders do not need to build an internal risk management department, affording cost savings that are not just on a per-loan basis. We are proud to provide Graystone Mortgage with this essential industry service."