Given access to this level of transparency, mortgage professionals will rarely opt to make individual decisions on where jobs go. Rather, they will have confidence in the platform that will allow them to automate that process. This will also give them a verifiable audit trail that protects from allegations of appraiser pressure. It also offers complete information about the professionals who provide their valuations. The result should be a quality product at an affordable price.

The real value of an appraisal-management company rests in:

• The ability to build a panel of expert appraisers that can consistently deliver high levels of quality; and
• The ability to provide a fully transparent platform that allows mortgage professionals to manage their collateral risk effectively.

In the next few months, we’ll all hear a lot about how mortgage professionals are moving back into the safety and security of a back-to-basics approach to home loans. Collateral once again will be regarded highly, and mortgage professionals will look for collateral-valuation solutions that provide a high level of quality and transparency.

Mortgage brokers should know who their appraisers are -- or should at least ensure that their lenders know. Quality loans aren’t only about solid credit but also solid collateral.

Jason Smith is president and CEO of Solidifi Inc. Smith was an early Internet visionary who combined technology and financial-marketing strategies to co-found Online Mortgage Explorer Inc. in 1995. Later, he was a co-founder, director and executive of Basis100, where he focused on business strategy, acquisitions and international markets. Today, he leads a firm that is changing the way lenders treat collateral valuation. Reach Smith at (866) 583-3983 or online at www.solidifi.com.

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