A la mode announced the launch of its appraisal quality management system at the 99th Annual Mortgage Bankers Association Annual Convention & Expo on Monday,
The AQM platform, available as part of a la mode's Mercury Network, guides underwriters to issues in each appraisal with actionable recommendations, and produces investor-ready loan files with the goal of reducing repurchase risk for lenders. It also automates first-level quality analysis on appraisal reports.
The result of collaboration between MasterServ Financial and AXIS Appraisal Management Solutions, a la mode said the AQM platform leverages the expertise of human underwriters and compliance officers as well, along with appraisers themselves — the platform offers a communications and revisions process that links vendors and staff.
"We’re thrilled to have AQM at the core of our Mercury Network service," said Jennifer Miller, president of a la mode’s mortgage solutions division.
"The industry has lacked this sort of efficient skill-multiplying service for underwriters and compliance departments for too long."