Appraisers and lenders are better able to identify fraud, errors and missing appraisal data through a new component of a cloud-based management tool that first became available via a Salesforce.com platform in March 2012.
Launched in March by Coester Appraisal Group, Salesforce.com-based Cloud Control now offers an automated appraisal review technology, “C-Data.”
“C-Data is like a virtual quality control inspector, except that it takes only a few minutes, it’s tireless, consistent and expansive,” said Brian Coester, CEO of Coester Appraisal Group. “C-Data’s findings integrate MLS sales, AVM data and mapped out comparables, all on one screen.”
The service will be provided free of charge to Cloud Control users, Coester said.
“People don’t expect the best technology to be free, but we’re breaking the mold,” he said.
Cloud Control allows the AMC to verify appraiser licensing and certification, and store and upload appraisal data in the format accepted by the Federal Housing Administration. The goal, Coester told RMD, is for the cloud-based software to help lenders grow their business in addition to helping improve appraisal management.
Written by Elizabeth Ecker