USRES, a management solutions provider for real estate assets, announced a new security enhancement to its proprietary Valuation Portal.
As a result of the upgrade, borrowers can now securely pay for appraisals through the portal instead of sharing their credit card information over the phone, giving loan officers an added option for the payment portion of the appraisal ordering process, the company announced.
Once the payment is made, the borrower receives an email confirmation, while the loan officer gets a notification that the transaction is complete, making for a more seamless and transparent process.
"Consumers are increasingly cautious and often want to avoid sharing sensitive financial information over the phone," said Keith Guenther, CEO of the California-based USRES and RES.NET. "This new feature of the Valuation Portal ensures the timeliness of the transaction while also allowing borrowers to feel comfortable and at ease when ordering an appraisal as well as throughout the lending process. This payment option also gives our clients added operational controls and oversight."
"The addition of this payment option as an alternative process gives mortgage professionals another tool to further protect borrowers' personal information while maintaining pertinent oversight of the transaction life cycle," added Rida Sharaf, SVP of real estate operations for USRES.