ValuAmerica, a national title agency, appraisal management company and technology provider, has announced its integration with the Federal Housing Agency’s Electronic Appraisal Delivery portal. This portal is a web-based technology system enabling the electronic transmission of appraisal data and reports to FHA by FHA-approved lenders and their designated third-party service providers prior to loan endorsements.
The EAD portal also reviews the submissions against FHA appraisal data and report requirements in real time and provides warning notifications if there are any discrepancies that lenders need to address. The use of the EAD portal will be required for all FHA-approved lenders, effective June 27, 2016.
“We’re committed to providing our clients with the services and technology they need to successfully run their mortgage business,” ValuAmerica Executive Vice President Shawn Murphy said in a press release announcing the move. “Integrating with FHA’s EAD portal will help our clients enormously by streamlining data entry processes, allowing them to seamlessly upload reports to FHA, and reducing error rates before endorsement by identifying any appraisal data or compliance issues upfront.”
ValuAmerica said in the release it is one of the first AMCs to provide its lender clients access to the EAD portal with a direct system-to-system integration.