Secure Delivery of Appraisals to Borrowers with new compliance feature through AppraisalComply.
Sarma’s AppraisalComply is designed for the objectives of HVCC compliance and allows companies to continue with their established appraiser relationships. AppraisalComply sends an email to the borrower’s email address. If the borrower can receive the appraisal electronically via PDF, they can type the Authorization Code into the corresponding field then click the Confirm button. The following message is posted to the Communications Log: “Borrower authorized and confirmed the ability to receive the PDF copy of the appraisal electronically. Borrower copy of the appraisal has been viewed.” The borrower’s acknowledgment of the ability to receive a PDF copy of the appraisal is posted into the Communications Log, assisting with clients compliance needs.
If the borrower cannot view the PDF or declines to accept the appraisal electronically, beneath the Authorization Code field will be a section that asks: “Unable to read the contents within the PDF?” Under this section there is a checkbox labeled “I am either unable to view the PDF or I do not agree to receiving the appraisal electronically.” Once this checkbox is checked, the Decline button is enabled.
When the borrower clicks the Decline button, an overlay screen displays, saying “Your lender has just been notified that your copy of the appraisal will need to be printed and delivered to you directly. If you have any questions, please contact your loan officer at (lender company and phone number).” Additionally, an email will be automatically sent to all lender users on the order with a subject line of “Electronic delivery of appraisal not accepted: (property address, borrower name). The body of the email will contain the following verbiage: “(Borrower Name) has indicated that the appraisal cannot be viewed electronically from their computer. The appraisal will need to be printed out and delivered to the borrower directly.” The Communications Log will be updated with the following: “Borrower has indicated that the appraisal cannot be received electronically.” These steps ensure the secure delivery of documents between borrower and lender through AppraisalComply.
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