Veros Real Estate Solutions, which already serves as the vendor for the Federal Housing Administration’s electronic portal for appraisal reports and data submissions, announced Monday that it is implementing a direct connection to the portal, which will allow for electronic appraisal submissions through Veros’ proprietary product, Pathway.
Veros currently provides the portal service for Fannie Mae and Freddie Mac loans, and has done so since 2011.
In March 2014, HousingWire reported that Veros was to serve as the appraisal portal provider for FHA loans as well.
Now, Veros is offering lenders and technology vendors the ability to directly connect the FHA portal.
“Pathway is an ideal solution for entities in need of a connection to EAD without the necessity of a complete platform solution or the resources to manage their own direct integration,” said David Rasmussen, senior vice president of operations for Veros.
“Since its inception, Pathway has proven to be a reliable tool that lenders across the country can depend upon when submitting required appraisal data to the secondary market,” Rasmussen continued. “Up to this point, that has only included portal delivery to Fannie Mae and Freddie Mac, but now Pathway will provide one seamless connectivity point for the lender or its agents to also deliver electronic appraisals to FHA’s portal.”
Pathway provides an automated, system-to-system solution, further simplifying the appraisal delivery process and enabling appraisals to be submitted simultaneously to either GSE or FHA, Veros said in a release.