The portal is expected to enable lenders and brokers to order appraisals from approved, third party sources without complicated technical integrations or high transaction fees. It is designed to provide compliance with the anticipated changes in appraisal regulation.
According to the company, the Managed Appraisal Platform is part of its suite of collateral valuation services. The valuation services range from automated valuation models to full appraisals conducted by licensed or certified appraisers. Using MDA’s patented product decisioning technology, properties and loans are evaluated and appraised based on risk level and key loan characteristics.
The new Home Value Code of Conduct (HVCC) regulations are designed to take conflicts of interest out of the home valuation process. MDA’s Managed Appraisal Platform enables appraiser independence and incorporates wholesale lenders’ quality standards to deliver objective and accurate values in support of real estate loans.
Mike Dealy, president of MDA Lending Solutions, said: HVCC is meant to improve the objectivity and accuracy of appraisals by ensuring the fulfillment process is free from pressure on the appraiser. Our HVCC-compliant Managed Appraisal Platform offers wholesale lenders and brokers a way to quickly access compliant appraisals while addressing regulatory issues concerning conflicts of interest.
