Nations Valuation Services (NVS), the appraisal services division of the Nations Companies, announced the integration of appraisal management software from appraisal software developer Anow with NVS’ proprietary management system, AppraisalTRAX, the companies announced in a release.
According to NVS Executive Vice President of Operations Matthew Scott, all appraisals submitted by the AMC’s more than 16,000 appraisers nationwide will run through Anow, allowing the entire NVS appraisal network to tap into the platform’s time-saving and collaboration features.
“NVS built its business as a leading national AMC by leveraging best-of-breed appraisal technology — an approach that has served us and our partners well,” Scott said in the release. “We spent a long time searching for a way to achieve a stronger level of communication with our appraisers across the country. Anow’s consolidated platform really impressed us, because it allows appraisers to work with multiple clients through a single portal. That’s incredibly valuable.”
Appraisers face increasing pressure from lenders and AMCs to upgrade from a patchwork of legacy desktop applications to systems capable of delivering real-time communication, mass collaboration and a modern borrower experience. Mortgage lenders have already begun adopting digital processes from origination to closing in pursuit of efficiencies and loan quality improvements, according to the company’s release.
Anow enterprise software features the industry’s first unified appraisal tracking platform from which appraisal businesses can efficiently manage orders, clients and fees, the company said. Anow allows fully customized workflows, automated status updates, end-to-end activity tracking, unlimited scalability and rapid setup.
“Anow has been thoughtfully architected to enable firms like NVS to better communicate with appraisers and, in turn, offer vastly superior service to lenders,” Anow founder and President Marty Haldane said. “Appraisers that build their businesses around the mortgage industry’s demands and cycles must work hand in glove with lenders’ priorities, which typically are speed of job completion, quality of work and borrower satisfaction.”
Scott emphasized that mortgage lenders are moving quickly to drive down turn times so they can lock and fund loans, and the appraiser is a key piece of that.
“Appraisers who adopt technology to make themselves more organized and efficient are going to be able to take on and manage more business, and they'll do so in a much less stressed environment,” he said.