3 Ways for Lenders to Boost Efficiency in Appraisal Operations
As the mortgage industry shifts more of its traditional workflows to digital operations – such as with eSigning, eNotes, eVaults, and more – the appraisal process cannot be an afterthought. There are numerous inefficiencies associated with the “old world” of appraisals that are slowing mortgage lenders’ turn times, keeping production costs high, and negatively impacting the borrower’s experience – all of which ultimately affect the bottom line.
This guide highlights three key areas where efficiency gains have been proven to generate measurable ROI: appraisal ordering and vendor allocation, appraisal payments, and communication and visibility. These lender-appraiser touchpoints are riddled with manual, error-prone tasks that are better executed by technology. Automation will not only expand employee bandwidth, but it will also do the work faster, more effectively and with greater accuracy.
By focusing on modernizing operations in the three aforementioned areas, lenders have reported increasing efficiency by 213% and reducing their appraisal desk staff by 75%, among other quantifiable benefits.
Want to achieve similar results? Download this free guide to better understand where inefficiencies exist in your appraisal operations and the steps your organization can take to improve its appraisal-related processes and maximize impact.
If you would like to learn more about how Reggora can help, reach out to schedule a conversation with our team.