Mortgage tech provider SharperLending has integrated its Appraisal Firewall real estate appraisal software with SimpleNexus to speed up loan processing.
With the integration, SharperLending updates financial institutions on the status of all valuation orders placed on Appraisal Firewall through their mobile devices. SimpleNexus mobile app users will also receive a push notification in real-time.
“The pipeline for communication is greatly expanded and greatly expedited with this exciting integration,” said Dave Black, founder and chief executive officer of SharperLending. “For example, if an appraisal comes back undervalue and the borrower needs to come up with cash to cover LTV discrepancies, lenders and their realtors and borrowers can know right off the bat instead of finding out later and having to scramble at the last minute.”
The company said that the goal of the integration is to continue to digitalize the lending process and keep loan officers, borrowers, realtors, and mortgage partners updated on their current loan progress.
“The days of sifting through a sea of emails to see if the inspection has been scheduled, if access to the property is limited, or the appraisal has been delivered are gone,” said SimpleNexus Chief Executive Officer Matt Hansen. “Lender updates will be instantaneous, which brings their lending office increased efficiency right to the palm of their hands.”