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Comergence and OREP join forces to streamline appraiser approval and verification process
Comergence and the Organization of Real Estate Professionals form a strategic working relationship to save appraisers time and money
MISSION VIEJO, CA (March 17, 2015) — Comergence, a provider of third-party risk-management platforms for the mortgage industry, announces that it has formed a relationship with the Organization of Real Estate Professionals (OREP), which specializes in placing errors and omissions insurance for real estate appraisers, as well as other real estate professionals. OREP also provides other valuable benefits to its members, which include real estate appraisers, home inspectors, real estate agents and brokers, mortgage field service professionals, and other real estate professionals.
Comergence is offering OREP’s residential appraisers a discount on its services. The company’s proprietary REALM for Appraisers is a service where appraisers pay a low annual fee to set up a single online profile that can be shared electronically with any AMCs and lenders they choose. “Rather than having to submit to a background check or verification every time an appraiser wants to work with a new or existing partner, REALM for Appraisers enables appraisers to set up a single profile,” said Greg Schroeder, president of Comergence. “REALM saves appraisers valuable time and money, and can be used with both lenders and AMCs.”
Status changes are immediately provided to AMCs and lenders, delivering ongoing insight and the ability to effectively manage their relationships and help ensure compliance. REALM for Appraisers also provides lenders and AMCs with online tools to efficiently and cost-effectively meet regulatory requirements.
“We’re very happy to be working with OREP,” Schroeder said. “The organization provides great value to the valuation industry by working to offer appraisers and AMCs the best rates on E&O insurance, as well as other valuable services like Working RE magazine.”
“We’re delighted to be working with Comergence,” said David Brauner, senior insurance broker from OREP. “Being required to submit to multiple background checks is burdensome and expensive for appraisers. OREP believes the service offered by Comergence will help relieve that burden, so we’re more than happy to make REALM available to our appraisers.”
About Comergence
Comergence is a risk management firm specializing in mortgage originator and appraiser due diligence and profile surveillance. Comergence offers a full suite of hands-on and automated services for screening and compliance monitoring. The company has compiled a comprehensive database of 400,000+ records on every licensed mortgage originator plus 100,000+ licensed and active appraisers in the U.S., along with aggregated and appended industry-specific data that provides clients with crucial information for proper third party risk management. For more information about Comergence Compliance Monitoring, visit www.ComergenceCompliance.com or call 714-489-8860. The company can also be followed on Twitter at @comergence.
About OREP
OREP specializes in placing errors and omissions and general liability insurance and providing valuable benefits to real estate appraisers, home inspectors, real estate agents and brokers, mortgage field service professionals, and other real estate professionals. OREP also publishes Working RE Magazine, the #1 source of real estate appraiser information and appraisal news. Receive fast, personal service from the OREP staff. The insurance experts at OREP have done business the same way for over 12 years. OREP helps you find the best combination of price and coverage available to meet your needs, depending on the size, scope and location of your business. OREP offers the lowest rates on appraiser’s insurance with same day coverage & confirmation (most cases). For instant E&O quotes for appraisers, visit www.OREP.org. OREP members can request their discount code by emailing Isaac@orep.org