ALISO VIEJO, Calif., Aug 08, 2016 (SEND2PRESS NEWSWIRE) — Platinum Data Solutions, a provider of valuation data and analytics solutions for the mortgage industry, has announced that Nations Valuation Services, a nationwide appraisal management company, has quantifiably improved its workflow processes by implementing Platinum Data’s Collateral Expert(R) property information report. By using Collateral Expert, Nations Valuation Services is now saving labor hours equal to two to three full time employees and preventing the most common causes of the days-long delays that are typical among appraisal management companies.
“We start using Collateral Expert the moment we receive an appraisal order and keep using it through the entire appraisal process,” said Stephen French, executive vice president of operations for Nations Valuation Services. “It is saving us about 60 front-end labor hours per week and has reduced back-end revisions. That is a major advance for us, because quality and cycle times are the two most important issues to our clients.”
Collateral Expert is an address-driven, interactive property information report. It provides AMCs and lenders with finger-tip information on the subject property and nearby sales, in addition to scores and ratings that include a complexity score and value range. It can be used to enhance a wide range of collateral-related workflow activities, from verifying information and disclosing appraisal fees, to underwriting and reviewing appraisals and post-closing quality control.
Nations Valuation Services uses Collateral Expert as soon as it receives an appraisal order. “We have a technology that analyzes the complexity score, nearby property data and other data points, then automatically assigns the appraisal to the appropriate appraiser,” said French. “We also automatically cross reference the parcel number and verify appropriate property usage for the assignment. Those three points allow us to avoid issues on about 92 percent of our appraisals-issues that would normally cause hours- or even days-long delays.”
“Smart companies like Nations Valuation Services know that a lot of costly collateral-related mistakes are 100 percent avoidable,” said Phil Huff, president and CEO of Platinum Data. “They use products like Collateral Expert because they know there’s no downside to faster, higher quality transactions. We’re proud to support Nations Valuation Services in their quest for continued longevity, profitability and growth.”
Platinum Data’s online platform and analytical tools are used to protect the country’s top 10 mortgage lenders, and are integrated into several leading mortgage and appraisal software systems.
ABOUT PLATINUM DATA SOLUTIONS:
Platinum Data Solutions provides valuation data and analytics technologies that help mortgage lenders, servicers, investors, AMCs and their vendors value collateral, identify potential collateral weaknesses and manage collateral risk. The company’s online platform and analytical tools protect the country’s top 10 mortgage lenders and help hundreds of companies to perform due diligence and prevent collateral-based loss. Each year, Platinum Data protects billions of dollars in assets across the U.S. against collateral-based non-compliance, buybacks and other risks.
The company’s RealView system pioneered computer-assisted appraisal underwriting. Its valuation analytics channel provides the industry’s only turnkey services that assure the responsible use of AVMs. Platinum Data Solutions is based in Aliso Viejo, California and was founded in 2002. For more information, visit http://PlatinumData.com/, follow @Platinum_Data or email info@PlatinumData.com.
News Source: Platinum Data Solutions
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