Industry News

Appraisers see the electronic light

New lender technology interfaces with appraisal ordering

Appraisal software provider a la mode Inc. today debuted its new technology, Mortgage Xsites, which enables mortgage brokers, loan officers and other lender representatives to set up and maintain Web sites geared toward getting business from home buyers and borrowers looking to refinance their home loans. Mortgage XSites allows users to seamlessly interface with eligible appraisers. Appraisers can import appraisal order details, complete assignments and deliver complete electronic appraisal reports. A la mode conducted an online survey of more than 1,250 appraisers and found that appraisers have overwhelmingly embraced electronic ordering, status updating and delivery of reports. However, the company found that relatively few of appraisers' clients were able to join them in electronic ordering. Ninety-eight percent of a la mode customers responding to the survey reported being able to receive electronic orders and transmit electronic reports. But half of the appraiser respondents ...