Appraisal Firewall is a secure, web-based residential and commercial appraisal ordering solution that enables lenders to self-manage their appraisal process. Lenders can work directly with their trusted local appraisers - and any AMCs they work with - to achieve management level control and multi-department efficiency. Appraisal Firewall increases the speed of Loan Production and Underwriting while helping lenders comply with all appraisal regulations – including the CFPB and Dodd-Frank appraisal rules. Appraisal Firewall is not an AMC.
As the diagram at left shows, appraisal orders are placed in a double-blind manner by production staff to appraisers on the panel Lenders setup. Production staff members do not know which appraiser receives the order. The Lender's Corporate Office has access to all Loan Production and Appraiser activity every step of the way to guarantee the delivery of independent appraisals, and all activity is logged to help protect from audits and related penalties and fines.Lender Newsletter Signup
“Because Appraisal Firewall gives banks like us control over our appraisal processes, we get quality appraisals faster, and we can offer more competitive service and better fees. Plus, we know that our appraiser panel is made up of our known and trusted appraiser relationships, and we comply with all appraisal rules and regulations.”
- Kirsty, Bank of Ann Arbor