SPOKANE, Wash.--(EON: Enhanced Online News)--Mortgage technology provider SharperLending LLC announced today that its Appraisal Firewall technology has been selected by 1st Portfolio Lending to order, process and deliver real estate appraisals. 1st Portfolio will be driving internal appraisal process efficiency by taking advantage of the enterprise-level real estate appraisal technology that Appraisal Firewall delivers to mortgage lenders.
“Appraisal Firewall helps us drive down costs and comply with all appraisal regulations. Equally as important, the system is integrated with our Loan Origination System which means that the process is as efficient as possible.”
Appraisal Firewall is a secure, web-based technology solution for lenders to manage their own appraisal process and work with their trusted local appraisers and any AMCs they want to work with. Appraisal Firewall helps lenders comply with all appraisal independence regulations, including the Consumer Financial Protection Bureau (CFPB) requirements, Dodd-Frank Wall Street Reform and Consumer Protection Act, Interagency Appraisal and Evaluation Guidelines, internal and investor requirements, plus GSE requirements for lenders to submit UAD-compliant appraisals electronically to the UCDP.
1st Portfolio Lending is an independent, privately-owned direct mortgage lender focused on providing exceptional service to its residential mortgage customers in Virginia, Maryland, the District of Columbia, Delaware, North Carolina and Florida.
"We wanted tighter control over our workflow for quality and compliance purposes, and our existing process was cost-prohibitive," said Patrick Gardner, Executive Vice President. "Appraisal Firewall helps us drive down costs and comply with all appraisal regulations. Equally as important, the system is integrated with our Loan Origination System which means that the process is as efficient as possible."
"We are excited that 1st Portfolio Lending has selected the Appraisal Firewall technology as their primary real estate appraisal workflow solution," says Dave Black, President and CEO of SharperLending LLC, the company behind the Appraisal Firewall technology. "This partnership continues to reflect the trend that mortgage lenders are turning inward to manage their own appraisal process. Lenders like 1st Portfolio Lending need to be able to demonstrate more control over workflow and regulatory compliance in a single, transparent, secure place that offers all of the data connections they need to drive down residential appraisal processing and compliance costs."
About 1st Portfolio Lending
1st Portfolio Lending is an independent, privately-owned direct mortgage lender focused on providing exceptional service to its residential mortgage customers in Virginia, Maryland, the District of Columbia, Delaware, North Carolina and Florida. Founded in 2009, 1st Portfolio has nearly doubled in size each year. Their aggressive growth plan is a result of a focus on customer service, streamlined file flow, and efficiencies through technology.
About SharperLending, LLC
Headquartered in Spokane, Wash., SharperLending LLC, was founded in 1989 and was the first to offer a complete Web browser-based mortgage credit reporting system on the Internet. The company’s proven technology has processed more than 500 million secure mortgage transactions. SharperLending has been processing appraisals since the late 1990s, with Appraisal Firewall breaking out of the company’s settlement services technology into its own unique offering. SharperLending, LLC, has three divisions under its corporate umbrella: SharperLending Mortgage Services Division, the mortgage services and Appraisal Firewall platforms; SharperLending Credit Division, technology for the credit reporting industry; and SharperLending Solutions, the loan origination product packaging division. For more information, watch the Appraisal Firewall YouTube video, follow us on Facebook, Twitter or Linkedin, call (800)452-1174, or visit www.SharperLending.com.