SPOKANE, Wash.--(BUSINESS WIRE)--Mortgage technology provider SharperLending LLC has enhanced its Appraisal Firewall platform with a new technical integration to an appraisal management company: American Reporting Company (ARC). Under terms of the agreement, ARC will provide appraisal management services to lenders that utilize the Appraisal Firewall system to order real estate appraisals and manage their own appraisal processes.
Lenders using Appraisal Firewall now have extended options for out of area coverage: in case appraisers on their current panel do not cover a certain area, the order can be placed to ARC, who has regional coverage as an AMC.
“Lenders get more than just the increased efficiencies that come with supplementing their approved appraiser panels with new out of area coverage options,” says Dave Black, President and CEO of SharperLending LLC, the company behind the Appraisal Firewall technology. “Through this exciting partnership with one of the best AMCs available, Appraisal Firewall lenders can comply with additional wholesale and investor requirements for appraisal ordering, which helps broaden the scope and increase the value of their loan portfolio.”
The integration between Appraisal Firewall and ARC provides users with the option to place their appraisal orders to the ARC appraisal management company right from within their familiar Appraisal Firewall system. Instead of using the lender's internally created and managed appraiser panel, the order will route to ARC who then utilizes their AMC-approved list of appraisers to complete the order. Lenders receive live status updates so that they are kept in the loop during the appraisal process, just like they are when they use their known and trusted appraiser panel in Appraisal Firewall.
“We welcome the opportunity to work with industry technology providers when it increases efficiencies for our clients,” says Francois Madath, President and CEO of American Reporting Company, LLC. “Lenders are facing new and challenging requirements. At ARC we try to stay on top of these ever-changing guidelines. We are one of the few AMCs that get an annual audit for compliance with appraisal standards and guidelines by RSM McGladrey. By providing our clients an easy ordering platform along with exceptional customer communication we are enthusiastic about integrating with SharperLending.”
About ARC
American Reporting Company specializes in providing settlement services to the mortgage lending communities. Founded in 1986, ARC was traditionally known as a premier credit reporting agency but expanded their product offering to include appraisal services, IRS transcripts and mortgage lending education.
INC 5000 Fastest Growing Private Companies Honoree in 2007, 2008, 2010, and 2011. Ranked #68 In Puget Sound Business Journals top 100 Fastest Growing Private Companies in the state of Washington for 2011. Ranked #48 in Puget Sound Business Journals top 100 Fastest Growing Private Companies in the state of Washington for 2010. For more information about all of ARC’s products go to www.arcreports.com.
About SharperLending LLC
Headquartered in Spokane, Wash., SharperLending LLC was founded in 1989 and was the first to offer a complete Web browser-based mortgage credit reporting system on the Internet. The company’s proven technology has processed more than 500 million secure mortgage transactions. SharperLending has been processing appraisals since the late 1990s, with Appraisal Firewall breaking out of the company’s settlement services technology into its own unique offering. SharperLending LLC has three divisions under its corporate umbrella: SharperLending Mortgage Services Division, the mortgage services and Appraisal Firewall platforms; SharperLending Credit Division, technology for the credit reporting industry; and SharperLending Solutions, the loan origination product packaging division. For more information, watch the Appraisal Firewall YouTube video, call (800)452-1174, or visit www.SharperLending.com.