ValuTrac announced the integration with FHA’s Electronic Appraisal (EAD) portal. The web-based technology system enables electronic transmission of appraisal data and reports to FHA by FHA-approved mortgagees and/or their designated third party service providers prior to loan endorsement.
The use of the EAD portal will be required for all FHA-approved mortgagees, effective for FHA case numbers assigned on or after June 27, 2016. The portal integrates directly with the FHA EAD, facilitating the appraisal management and loan process, the company said in a news release.
This system-to-system integration will allow for the automated delivery of appraisals to the EAD portal and increase operational efficiency for all ValuTrac customers.
“We are excited about continuing to offer our customers seamless integrated solutions to enhance their business operations,” ValuTrac CEO Clint Cornett said. “By integrating with the EAD portal, our customers have more seamless electronic interface options and ValuTrac takes another step in its holistic approach to further streamline the appraisal management process.