Gaining industry approval, ""SharperLending LLC"":www.sharperlending.com/ has announced that ""Veros Real Estate Solutions"":www.veros.com/ confirmed its appraisal firewall platform for integration with the Uniform Collateral Data Portal (UCDP). SharperLending released its appraisal firewall interface to the UCDP on December 10, and Veros has now declared the web-based program operationally ready for submissions.
[IMAGE]Veros will make SharperLending's technology available via its integrated solution that targets reinforcement of the reliability of the UCDP connection used by lenders and value-added resellers. Currently, Veros is the lead technology provider for UCDP, and the company is responsible for building, maintaing, and supporting the system.
In addition to the company's provisional role for UCDP, Veros also delivers interface and data document access to UCDP through diverse in house solutions. Veros' offerings give users seamless, direct access to UCDP's portal.
SharperLending's appraisal firewall creates a secure and cost-effective method for lenders to manage their own appraisal
[COLUMN_BREAK]processes, enhancing the speed of loan production and underwriting, and the company's platform is considered a non-AMC solution. Lenders utilizing the firewall will gain compliance with appraisal independence regulations such as those contained in the Dodd-Frank Act, Interagency Appraisal and Evaluation Guidelines, and the GSE requirements mandating UAD-ready appraisals.
Speaking out on the company's approval by Veros, SharperLending's president and CEO, Dave Black, said, ""Appraisal firewall has processed many UCDP transactions over the past month, and we are proud that our technology is now ready for full scale production by Veros, the technology provider for the UCDP. In automating the PDF conversion, UAD error check, and UCDP submission process for lenders, the appraisal firewall provides the efficiency that lenders need to maintain consistency in their appraisal processes without ever leaving their familiar appraisal technology.""
Continuing his statements, Black added, ""The differentiating factor between us and other options is that, in addition to our suite of UCDP solutions, lenders can self-manage their appraisal process, work directly with their appraisals, and comply with all appraisal independence regulations.""
Dave Rasmussen, Veros' senior vice president of operations, noted of SharperLending's offering, ""We congratulate SharperLending on the complete integration to the UCDP portal for their appraisal firewall clients. SharperLending is on the right path to increasing transparency and industry standardization by giving their clients the ability to move effortlessly through their current solution all the way through to UCDP submission. Through its early adoption of UCDP and by using Veros' solutions to access tools like PDF conversion and UAD compliance checks, the appraisal firewall will help move the industry forward.""