SharperLending® enhances lending technology to increase access to social distancing real estate appraisal solutions
Appraisers, AMCs can now access Verisite Mobile Appraisal Solutions
SPOKANE, WA (May 6, 2020) — Mortgage technology provider SharperLending® announced today enhancements to its Appraisal Firewall® and Verisite real estate appraisal solutions to extend the value of health and safety to a broader audience. Appraisers and appraisal management companies can now access the Verisite mobile appraisal and inspection tools to order mobile-based appraisal products directly from the homeowner to help reduce face-to-face contact between appraisers and homeowners to safely provide interior property data to lenders. Appraisers and AMCs can access Verisite to place orders to homeowners here.
Verisite is a mobile appraisal solution for smartphones and iPads that provides a more efficient way for financial institutions to get interior and exterior property inspection reports and collateral valuation data. Utilizing cutting edge mobile technology for real-time property detail and an extensive suite of fraud prevention features, homeowners and other data collectors can easily gather interior photos and descriptions, then provide this data to lenders, appraisers and AMCs for assistance in developing appraisal reports.
Verisite is primarily a lender-driven tool, and now it is accessible as a direct resource for appraisers and appraisal management companies to request interior property information from the homeowner directly via mobile device. Appraisers and AMCs can quickly access the information provided by the homeowner on the Verisite deliverable to help develop reports pursuant to flexibilities offered by Lender Letter LL-2020-04, published April 1st 2020 by the GSEs. The Verisite Photo Report can also be used as an addendum or exhibit to continue to provide lenders with interior inspection details to maximize quality.
“Verisite is not just for lenders,” said David Chiappe, President of SharperLending, the company behind the Verisite and Appraisal Firewall technologies. “For over two years, Verisite has been a viable mobile appraisal solution for credit unions, banks, and mortgage companies for their purchase, refinance and HELOC transactions. During this pandemic, we are seeing additional opportunities to extend health and safety to other audiences, and we are pleased to provide more value to appraisers and AMCs.”
Appraisers, AMCs and lenders get higher quality photos and peace of mind with the Verisite mobile app because it separates the photos taken within the app from the mobile device’s camera roll. This allows the app to apply fraud prevention features to each photo instantly, a feature that many competing offerings overlook. Technology features such as automatic geo-location of the subject property photos down to a two-foot radius with pinpoint placement on a property map, and a movement toward validation of room depth, protection against “picture-of-a-picture” fraud, and 3D room mapping for logging of square footage provide additional layers of safety and soundness to appraisals developed with this data.
About SharperLending LLC
Headquartered in Spokane, Wash., SharperLending was founded in 1989, released the Appraisal Firewall real estate appraisal software in 2006, and the Verisite mobile appraisal solutions in 2018. SharperLending provides financial technology solutions that increase efficiency, mitigate risk, and offer affordability. The company’s proven technology has processed more than two billion secure mortgage transactions. The company has three divisions under its corporate umbrella: SharperLending Mortgage Services & Appraisal Firewall Division, the mortgage services, Appraisal Firewall platform and Verisite mobile property inspection tools; SharperLending Credit Division, technology for the credit reporting industry; and SharperLending Solutions, the loan origination product packaging division. Learn more about Appraisal Firewall at www.AppraisalFirewall.com. Learn more about Verisite here, or call (800)452-1174.