PCV Murcor, a California-based appraisal management company (AMC) and provider of valuation products and consulting services, announced July 1 that it will begin offering its appraisals through Calyx Software’s Point loan origination system.
Integrating the two systems enables Calyx Point users to quickly and securely order and track appraisals from PCV Murcor through the existing Calyx Point interface. The availability of this service will increase efficiency by simplifying the ordering and delivery process while helping lenders of all sizes remain compliant. In addition, lenders will no longer need to re-enter appraisal request information and can review order status any time of the day.
Calyx Point is used by more than 70 percent of mortgage brokers and by an estimated 36 percent of community banks, credit unions and mortgage bankers.
PCV Murcor has built one of the largest national networks of real estate appraisers. The company’s appraisal management process is driven by a proprietary technology platform that selects appraisers by both market and product competency. Once submitted to PCV Murcor by the appraiser, all valuations are subject to an automated validation process, including business rule verification checks and additional manual reviews. Upon delivery, lenders receive a compliant, defensible and verified appraisal.
“With the [Mortgage Bankers Association’s] loan origination volume projections lowered again, and the operational challenges lenders face in quickly originating quality loans, every process that can be simplified is valuable. This integration will further enable PCV Murcor to assist lenders by streamlining the ordering process and helping assure that the loans being originated have compliant value-certainty and defensibility,” said Tim Scherf, chief operating officer of PCV Murcor. “Calyx is a recognized and respected leader in loan origination software. Their commitment to maintaining a regulatory-compliant system makes this integration an ideal fit for us both given PCV Murcor’s commitment to providing compliant, high-quality appraisals.”