LEXINGTON, Ky. – University of Kentucky FCU has deployed Platinum Data Solutions’ AOS appraisal ordering system and RealView appraisal quality verification technology.
Platinum Data’s AOS platform is a central hub for sending and receiving appraisals and communicating with appraisers. It allows lenders to select and manage their own appraisal panels, prevents unauthorized lender personnel from violating Dodd-Frank communication guidelines regarding appraisers, and provides audit-quality tracking and reporting.
RealView is the mortgage industry’s appraisal data verification technology which cross-checks each field on an appraisal report against public and private data sources.
U of Kentucky FCU had been using manual processes to assign and review appraisals. This process exposed the credit union to unnecessary risks associated with inconsistency and human error.