InHouse Inc. announced its new underwriter queues in its InHouse Connexions appraisal process management platform, intended to improve the quality of appraisal submissions while also enhancing lender compliance with GSE and regulatory requirements.
The cloud-based platform will allow lenders to automatically manage appraisals using their own preferred appraisers, appraisal management companies or any combination of providers they choose.
The new underwriting queues offer essential information and timesaving workflow automation for no additional fee.
By allowing underwriters to underwrite the appraisal directly via the Connexions platform, which would in turn significantly reduce the typical process time.
"These represent major timesaving gains for origination departments," said InHouse President and CEO Jennifer Creech.
She added, "Underwriters can do much more without switching back and forth between applications, and the additional automation brings greater quality to both the process and the appraisals themselves."
Creech noted that underwriters can manage their UCDP appraisal conditions and 'hard stops' at any point in the process, which will help resolve appraisal issues prior to formal submission to Freddie Mac and Fannie Mae.