Real estate alliance debuts appraisal service
May 19, 2005
First Lenders Data teams with Realink Corp.
First Lenders Data and Realink Corp. have formed a strategic alliance to provide lenders with Realink's appraisal services within First Lenders' vendor management platform, the companies said today.
Lenders will be able to access Realink's appraisal and valuation services, including RealValue, a desktop appraisal used primarily for home lending. First Lenders is incorporating the RealValue desktop appraisal into the progressive automated valuations model, or AVM, section of FirstClose, the companies said.
The integrated capability provides FLDI clients the option to upgrade to a desktop appraisal when an AVM fails to return a value, or the returned value is outside lender tolerance guidelines.
Toensure the accuracy of the RealValue desktop report, local market appraisers who follow Uniform Standards of Professional Appraisal Practice guidelines perform it.
This has been a busy year for First Lenders. In late March, the Austin, Texas-based technology, data and bundled service provider announced an integration alliance with U.S. Recordings and American Title.
U.S. Recordings' traditional document recording services, along with access to InteleDoc Plus, a multi-level e-recording platform, and American Title's title and closing services, are now available to lending institutions through First Lender's FirstClose bundled mortgage services platform.
First Lenders works directly with mortgage service data providers and vendors on behalf of banks, mortgage lenders and credit unions to provide a variety of mortgage solutions through a single point - the FirstClose platform.
FirstClose and its licensed versions offer First Lenders' customers a wide selection of bundled financial services such as credit reports, AVMs, insured AVMs, appraisals, flood certifications, title reports, lien reports, income verification, closing services, and recording services.
Copyright 2005 Inman News