The housing industry is abuzz with the upcoming deadline for the implementation of the TILA-RESPA rule. The rule goes into effect on August 1, 2015 and has sent creditors scrambling to update their processes and systems to comply with the regulations.
Appraisal Management Software has simplified the once complex and time-consuming exercise of managing the appraisal process. Lenders, AMCs and Appraisers can all access a single platform from which they can manage the entire appraisal process from the placement of the order to the review and delivery of the appraisal report.
Whether you are a lender or an appraisal management company, finding the right appraisal management software is the key to effectively managing the appraisal process and get consistent, reliable results.
The three methods most commonly used to estimate the fair market value of a property are:
· Appraisal
· Assessment
· Broker Price Opinion
