Automated Appraisal Review Solution Takes Time, Touch and Cost out of the Collateral Underwriting Workflow
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced that Sierra Pacific Mortgage, a nationwide lender, has implemented CoreLogic’s collateral valuation platform to increase their underwriting capacity and improve turn times.
“We are excited to work with innovative lenders like Sierra Pacific Mortgage to find ways to take time, touch and cost out of their collateral underwriting workflows,” said Sage Nichols, Executive of Client and Business Development at CoreLogic. “Unfortunately, for many lenders, it actually takes longer and costs more to originate a loan today than it did ten years ago – and this is preventing them from benefiting from the current originations boom. At CoreLogic, we are dedicated to helping lenders transform their complex, manual and unstructured valuation reviews into simple, efficient and intuitive step-by-step workflows.”
CoreLogic’s digital solution provided Sierra Pacific Mortgage a comprehensive and efficient toolset that has helped them expedite the review process and enable consistent and precise analysis of appraisal data.
“We are seeing a quicker turnaround in our appraisal reviews and sign-offs. This allows us to issue the closing documents sooner and complete loan closings faster,” said Susan Roy, Executive Vice President of National Operations at Sierra Pacific Mortgage. “By having a centralized appraisal review process in place, we have been able to reduce the underwriting time on each loan. Before using CoreLogic’s appraisal review solution, each underwriter devoted significant time to the review of the appraisal. After we implemented it, productivity improved by allowing the underwriter to focus on the credit aspects of the loan.”
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.
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