eMortgage Logic LLC (EML) integrated nationwide multiple listing service (MLS) data into its valuation management platform, providing a higher level of quality control, faster service and newer, more accurate solutions. While the vast majority of property valuations — such as appraisals and broker price opinions (BPOs) — are based on MLS data, the new integration allows brokers and appraisers to access MLS data directly through EML’s online platform, which will automatically populate the data input fields with all available information on the subject property and comparable properties chosen by the broker or appraiser.

“This automated data entry process dramatically reduces or eliminates errors incurred when brokers and appraisers enter information manually,” said Ralph Sells, chief executive officer of EML, a national provider of residential real property valuations, data and analytics for mortgage lenders, servicers and investors. “It also acts as a data validation source – further ensuring that the values we provide our customers are based on the most current and accurate information available.”

In addition, EML has developed a proprietary comparable property scoring methodology that analyzes hundreds of fields of data for each subject property and chosen comps and provides a statistical scoring of the relative fit for each comp. This scoring process helps EML’s quality assurance team verify that the broker or appraiser has chosen the most appropriate comps for the subject property and, if necessary, question why certain comps were chosen. If a particular valuation seems questionable, EML is often able to address the client’s concerns ahead of time.

Finally, EML is currently using nationwide MLS and public records data to develop a suite of analytical reporting products. According to Sells, EML clients that are interested in analyzing a specific neighborhood, a region, a portfolio or even the entire nation, will have the ability to get customized analytical solutions to meet their needs.

“The benefits of seamlessly incorporating nationwide MLS data into our platform are enormous,” Sells said. “Combined with our valuation expertise, the advantages we are able to provide customers are simply unparalleled in the mortgage industry.”