We are living in an age of technology, and that’s not going to change. It’s a plain and simple fact that technologies on virtually any level are able to fulfill tasks with greater speed, accuracy and consistency than manual processes. Technology isn’t just a convenience.
“The companies that embrace technological advancements are going to be able to do more, with higher quality and compliance and fewer resources than their resistant counterparts,” Huff said. “Whether you’re a lender or an AMC, your competitors are using technology, and if you don’t follow suit, they will easily surpass your level of doing business if you continue to resist technology.”
Interestingly enough, technology is also affording more flexibility. Both Bien-Aime and Jennifer Creech, president and chief executive officer of InHouse Inc., based in Ponte Vedra Beach, Fla., recognized that many lenders are tacking appraisal management on their own.