January 2016 - Out of the Woods

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 29 FEATURE to host solutions in a secure, lo- cal environment. And although cloud-based technology may not seem like an obvious choice, secure data partitioning keeps your data separate and safe from others and can be less expensive to maintain than traditional software. Regardless of where your technology lives, data encryption, fault-tolerant backup systems, security policies, and disaster recovery procedures are imperative for reliable systems. Don't be afraid to ask your provider about their security protocols and processes that should already be in place. • Satisfaction: Does your provid- er's platform adapt to changes in your business processes or new regulatory guidance as it is published? Technology should not dictate how you do business, but instead adapt and customize to meet your needs. Current technology is capable of meeting these challenges– without the weeks or months of delay we experience with old-school systems, even for a simple form update. As Kevin Lombardo, President of Centric Technology Solutions, LLC, says, "Bringing new products to market on a platform should be a simple process that can be im - plemented within a short period of time. As lenders and others define new needs, we must be able to develop solutions quickly." Technology that can respond to regulatory changes overnight sounds like a dream, but it is tangible and real. • Savings: Managing multiple software programs, manually shepherding orders, and coordi- nating vendors creates unneces- sary overhead. Automation is not a luxury in technology; it's the norm and should streamline the relationship with your valu - ation providers and customers. Auto-placement of orders, auto- matic data validation and comp scoring, customizable product configuration, and notifications are part and parcel of any truly automated solution. • Sustainability: If your provider's platform is three years old or more, it's out of date, which can jeopardize the quality and accuracy of your valuations. Technology moves fast, and so do changes in regulations, rules, and customer requirements. Technology should be able to adapt to changes in the indus - try, technology, and business needs. Ask your provider how their solutions manage change in all these areas. They need to be agile, adapt to constant in - novation, and develop systems that improve processes. • Strategic: Does your solution offer the tools and resources to expand your business? Your provider should be a strategic partner who understands your vision and can implement configurable processes, custom offerings, automated functional - ity, and integration services that react to your business processes as you grow. Look for providers who offer support for multiple MCS Valuations is committed to providing the best possible service and most reliable value to our clients. Backed by industry-leading data and experts with decades of experience, MCS Valuations is your trusted resource for all of your valuation needs. 8 0 0 . 7 9 1 . 7 1 4 5 | M C S V A L U A T I O N S . C O M | I N F O @ M C S V A L U A T I O N S . C O M

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