LRES and Bay Docs LLC announced an integrated strategic partnership via the LRES DirectConnect integration hub and Bay Docs Loan Origination System, Reverse Express.
LRES is a national provider of commercial and residential valuations and asset management for the mortgage, banking, credit union and real estate industries. Bay Docs LLC is a service provider dedicated solely to the reverse mortgage industry.
Through this integration, LRES’ DirectConnect offers full valuation lifecycle management for Bay Docs’ reverse mortgage customers by delivering its users collateral valuation reports, as well as the supporting data in the MISMO industry-standard format. The integration offers end-to-end automated connectivity while delivering reports and data for compliance and QC or auditing purposes via a single system valuation life-cycle management platform.
LRES’ DirectConnect integration framework connects financial institutions and third-party systems to the LRES LINK order management platform to enhance appraisal order processing and delivery. Data can be shared more easily across all systems, which speeds up the valuation process and ensures full compliance.
“Our integration with LRES DirectConnect offers our reverse mortgage customers an all-inclusive automated appraisal management solution to greatly simplify the complex valuation process,” Bay Docs CEO Megen Lawler said.
“LRES’ integration with Bay Doc’s LOS greatly benefits reverse mortgage lenders by handling all the heavy lifting as it relates to appraisal management and keeping them fully informed of the appraisal’s status throughout the process,” LRES CEO Roger Beane said.