December 2015 - Fortune Tellers

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TH E M R EP O RT | 11 MTECH other means by providing clear, marketable title. It's the best of both worlds." Chronos can provide other niche services, including title, valuations and inspections to further assist in the process. "Sellers are attuned to bundled services today more than ever, particularly given the concerns posed by additional vendor management scrutiny by regula - tors" Martin said. "The faster and more comprehensive you can be in the disposition process, the better the results for everyone. Trustee Sale Plus promises to make that happen and raise the bar for trustee sales as a compre - hensive and cost-effective solution." Appraisal Foundation's Uniform Standards To Be Available in Appraisal Software THREE TECHNOLOGY PROVIDERS WILL INCORPORATE THE UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE INTO THEIR APPRAISAL SOFTWARE. T he Appraisal Foundation, an organization that sets Congressionally-authorized standards and qualifications for real estate appraisers and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals, announced that the Uniform Standards of Professional Ap- praisal Practice (USPAP) guidance will be accessible in appraisal software programs soon. Three technology providers, ACI, Bradford Technologies, and Centric Technology Solutions, will release new programs that offer USPAP and guidance as a resource for real property appraisers. The Appraisal Foundation chose these three companies for the initial launch due to their commitment in providing appraisers with the tools to perform quality appraisals through their respective software programs. These programs will help appraisers save time and equip them with resources to help ensure compliance with USPAP. David S. Bunton, president of the foundation, said of the new initiative, "This announcement ushers in a new day for the Foundation and appraisal technology. Appraisal profession - als will now have USPAP and the Foundation's related guidance at their fingertips for reference during every step of the process. Digitizing USPAP and including it in the appraiser's toolset is the best way to ensure compliance and ultimately build public trust in the work of appraisers." Headquartered in Palm Coast, Florida, ACI's client base is comprised of thousands of real estate appraisers. The company will incorporate USPAP and related guidance into ACI Sky™, a new Web-based appraisal platform. ACI Sky™ empowers the valuation professional to create full reports on the Web with tools for sketching, data collection, review, MISMO® XML delivery, location, and flood mapping. Bradford Technologies has provided services and products to assist appraisers in producing appraisal reports quickly and efficiently for the last 28 years. Its partnership with the foundation offers an opportunity to further the company's focus on helping move the appraisal profession, and in particular residential appraisers, away from tedious form-filling and toward computer-aided appraising Redstone technology. As a provider of collateral valuation solutions, Centric Technology Solutions plans to fully integrate USPAP and related guidance into its dialogue-based solution for report creation and quality review by the end of 2015. Pavaso Completes First End-to-End Digital Real Estate Process FOR THE FIRST TIME, THE HOMEBUYING PROCESS CAN BE A COMPLETELY DIGITAL ONE. P avaso Inc., recently announced the completion of its pioneering end-to- end digital process for the mortgage and real estate industry with the addition of its sales contract negotiation tool for real estate agents. According to the company, the tool allows the deal to be made digitally and creates a streamlined start-to-end process for lenders and settlement agents. "Real estate agent feedback has been critical to the development process for the Pavaso sales negotiation contract tool and has allowed us to refine its function - ality," said Mark McElroy, CEO of Pavaso. "Now that we are confident the tool will help agents to competitively differenti - ate themselves in the real estate finance transaction, we're making it available to every market across the U.S." Pavaso works with lenders, settlement agents, real estate agents, consumers, attorneys, service provides and investors in all stages of real estate. Pavaso notes that such collaboration is particularly important now that the TILA- RESPA Integrated Disclosure (TRID) law has gone into effect. "A digitally collaborative platform like Pavaso solves challenges the industry is facing with the recent go-live of TRID," said Nancy Pratt, VP of opera - tions and eStrategy at Pavaso. "By utilizing the digital delivery and tracking capability, businesses can comply with the three-day rule for the Loan Estimate and Closing Disclosure form, and even the entire closing package." McElroy also stated that "by offering a means for collaboration, improved consumer experience, closing process control and enabling businesses to align with the CFPB's mission and values, Pavaso's solutions evolve the home buying process from end to end." "There are several options for businesses to join Pavaso. Small businesses or branches have the ability to start using the platform in just weeks, and Pavaso also provides a comprehensive strategy for anyone looking to overhaul the way they do business so they can meet consumer demands in a tech-driven market," he said. "This isn't just about TRID's go-live. It's about providing the industry with a clear path to evolving and catching up with consumer technology." "Digitizing USPAP and including it in the appraiser's toolset is the best way to ensure compliance and ultimately build public trust in the work of appraisers." —David S. Bunton, president of the Appraisal Foundation

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