Enabling a Mortgage Valuation Company To Meet Appraisal Service Deadlines
Customer Overview
Our client is a fast-growing valuation company headquartered in Spring, Texas. They offer nationwide valuation services across both commercial and residential sectors and operate in five major counties: Brazoria, Harris, Galveston, Fort Bend, and Montgomery.
The Challenges
The client faced numerous challenges in their appraisal services, as outlined below:
- Inaccurate reports from their previous service provider.
- A rapidly approaching turnaround deadline.
- There was a need to meet strict lender/broker-specific guidelines.
- Handling three times the average volume of work within a limited time frame.
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The Solutions
We analyzed the client’s processes and found that their previous service provider had adopted a careless appraisal approach. We implemented the following solutions:
- Team Expansion: We built a team of certified appraisers, ensuring compliance with federal regulations. The team was trained to meet a 4-6 hour turnaround time with 98% accuracy.
- QC Checklist Implementation: We introduced a standardized quality control checklist to ensure a consistent and transparent review process. The checklist included tasks such as appraiser revisions, highlighting ambiguous issues, and manual checks at different stages.
Results Achieved
With our assistance, the client noted substantial enhancements in the following areas:
- 79% reduction in turnaround time, from 24 hours to less than 2 hours.
- A drastic fall in lender revision requests.
- 40% reduction in operational costs.
- 25% increase in additional business from existing clients.
- The ability to scale operations and onboard new customers.
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Ready To Meet Your Appraisal Deadlines and Streamline Your Operations? Reach out to Our Experts Today And Learn How We Can Help!
