Appraisal department bottlenecks

The best bankers are focused on delivering an industry-leading customer experience. Shouldn’t that include the appraisal department? 

I think the C-Suite would be surprised to learn their appraisal department is overworked. Heavy workload, long hours and understaffed. Chronic workload can cause long-term fatigue, diminished productivity and chronic stress. Consider a new goal for 2022: reduce operational bottlenecks and minimize loan cycle times. 

Shave weeks off the loan process 

Consider an appraisal and environmental workflow platform like YouConnect designed to scale with your institution. Provide your bank significant cost savings through workflow and improved appraisal process. 

Streamline and automate your repetitive processes. The platform enhances transparency and visibility with a centralized awareness of collateral. This serves to create consistency for your institution’s approval process and level of accountability with employees. 

Enhance the customer experience 

Appraisal departments are often viewed as “have to have” departments rather than an essential department within your bank. Achieve a new level of collaboration and teamwork across the enterprise. Effectively manage your loan portfolios and monitor collateral compliance over time. Provide management the tools to pull real time trend and volume reports. 

Stop re-keying of data 

Realwired helps our bank clients on their journey to improve internal processes and transform its operations. Reduce operational bottlenecks and minimize loan cycle times. This results in more accurate and quicker loan decisions with the ability to support a much higher volume of appraisals. 

YouConnect’s integration with LOS systems like nCino significantly reduces manual re-keying of data, saving time, reducing errors and allowing for a better customer experience.  

Confidently meet increased loan demand with productivity reducing your reliance on duplicative work allowing the appraisal department to facilitate the valuation process more quickly and efficiently than before. 

Satisfy regulatory compliance and promote better exams 

Have a platform that improves your regulatory compliance. A system that logs everything to allow compliance people to find easily. With reporting and data analysis capabilities, YouConnect provides our bank clients the ability to provide examiners all the information they need, quickly and efficiently. 

6 bottleneck busters 

  1. Meet your appraisal department’s unique requirements. 
  1. Eliminate duplicative data entry. 
  1. Reduce time with improved data and document storage. 
  1. Increase workflow efficiency. 
  1. Scale to meet all current and future needs of the bank. 
  1. Enable the capture and use of data in an effective manner. 

Legacy platforms = you working unnecessarily harder 

Move away from legacy systems and companies that aren’t focused on your department’s success. RealWired focuses on aligning our tech road map with our client’s needs. And this has been a game changer. Having an agile platform has allowed our bank clients to implement changes faster and think differently. 

Legacy platforms struggle to keep up with customized change requests, new feature enhancements and 3rd-party integrations. These items are important since many appraisal departments struggle to keep up with the significant increase in appraisal volume. 

Some legacy platforms are effectively data entry platforms. Your department should expect a scalable and flexible platform to meet your needs, as you increase your asset size in the future. 

Most of the appraisal management platforms on the market today can’t be configured to meet the needs of individual bank clients. The solution needs to meet a bank’s reporting needs and process requirements. 

Has your bank leadership team began researching for a new solution?