Appraisal management company CoesterVMS, which serves numerous reverse mortgage clients, has announced a new integration partnership with a la mode’s Mercury Vendor Management Portal.
The integration will allow CoesterVMS clients to order appraisals through a single platform, with firewalls for information protection and compliance managed throughout the system.
“This is an intuitive step in the evolution of automating valuations,” says Brian Coester, CEO of CoesterVMS. “Mercury is a great platform and we believe our relationship will be very productive as it creates additional efficiencies in the industry.”
Integrations like this one are becoming more and more commonplace to streamline the appraisal process, Coester tells RMD.
“We need to automate the process,” he said. “We can’t have four people emailing the appraisal to the borrower and can’t have three people entering data. That’s where integrations come in; it gives us the first pivot point to starting the automation process.”
Coester has recently integrated with ReverseVision software as well as four to five other loan origination platforms this year and says clients should expect more integrations on the horizon. This, he says, will make the process more efficient for originators and processors and anyone else involved in the origination process.
“If you have to constantly go to third party resources, it becomes very expensive,” Coester says. “Long term, this will be just like a single app on your smartphone.”
Written by Elizabeth Ecker