YouConnect in house appraisal vendor management software. Providing low cost, risk management solution for in-house appraisal and vendor management.
YouConnect is a software system that manages the complete appraisal process from a regulatory and appraiser independence perspective. The software facilitates appropriate communication between loan operations, management and lending. YouConnect provides a low cost, risk management solution for in-house appraisal and vendor management – automating bidding and awarding, document management, vendor management and compliance and reporting.
Regulators are focusing and placing more scrutiny on their examination of banks’ appraisal programs and it’s vital for banks to have ways to ensure compliance in the ever increasing regulatory climate. In point, the Office of the Comptroller of the Currency (OCC) issued a new Bulletin (Oct. 2013) to all banks, that provides guidance on how to manage risk inherent in third-party relationships; i.e. Appraisal Management Companies (AMCs). The Bulletin seeks to address that a series of AMCs, facing either cash flow problems or bankruptcy, have not performed as expected and so many banks find that managing the appraisal process in-house is most prudent.
YouConnect works the same whether your bank is large enough to have in-house appraisal department and chief appraiser, or is smaller where the responsibility for appraisal management is within the credit department. If you’ve experienced frustration with the quality and lack of transparency of an outsourced solution, or you know you can save time, money and have assurance of compliance by automating, YouConnect as a bank branded, customized, and self-managed appraisal and vendor workflow system is the right solution.