Dramatic reductions in valuation turn times are now possible for lenders using the ICE Mortgage Technology® Platform, thanks to a new ServiceLink integration.
For the first time, instant digital appraisal scheduling is available to Encompass® users, as ServiceLink makes leading-edge valuation solutions available through Encompass Partner Connect™ (EPC) on the ICE Mortgage Technology® Platform. This new integration enables lenders to choose from a variety of valuation products and schedule appraisals in real time by connecting directly to the calendars of ServiceLink’s nationwide network of appraisers.
“When a loan officer or processor has the ability to schedule an appraisal while engaged on the phone with a borrower, or to empower that borrower to schedule independently, they differentiate themselves by providing a superior customer experience,” says Matthew Woodhouse, managing director, Valuations, ServiceLink. “They also improve their efficiency by cutting days out of the mortgage process.”
Mortgage lenders that have upgraded to, or are planning to upgrade to, the latest Encompass experience are gaining a substantial competitive advantage, Woodhouse adds. “ICE has long provided smaller lenders with ‘big bank’ technology to help them manage and process mortgages more efficiently. The most recent upgrade is super sleek and fast, and enables users to tap into the power of ServiceLink technology. Today that technology includes valuation, including modernization, as well as flood solutions, with title and close solutions to be introduced in the coming months.”
The benefits of ServiceLink valuation solutions now available through Encompass
Real-time, automated scheduling sets ServiceLink’s valuation solutions apart, but the benefits don’t end there. Every aspect of appraisal ordering and fulfillment is fast, easy and transparent through ServiceLink’s new integration, available to both Encompass LO Connect (Encompass Web) and Encompass SmartClient users.
Instant digital appraisal scheduling
Ying Wang, director, Product Design and Development, ServiceLink, explains how ServiceLink’s digital valuation scheduling solution benefits lenders and consumers alike: “Instant digital appraisal scheduling enables lenders to not only increase efficiency, but also provide their borrowers with the convenience, ease and flexibility they desire from their mortgage experience.”
The new technology eliminates the back-and-forth calls historically associated with booking appraisal inspections. The Encompass user simply selects “Schedule Now” to see all available appointments based on local appraisers’ real-time availabilities, then chooses the time slot that’s most convenient for the customer, who automatically receives an email confirmation with appointment details, and then a reminder on the day of the inspection.
Alternately, the user can opt to allow the borrower or their agent to schedule the appointment. Wang explains, “The property contact receives an invitation to schedule via email or text. After authenticating their identity, they can select the exact date and time for their appraisal appointment, and immediately receive information about their appraiser — name, contact information, photo, and even the make and model of their vehicle. They receive instant confirmation, and reminders and updates to provide transparency throughout the process.”
Whether scheduled by the lender or the borrower, appraisal scheduling becomes a seamless experience that accelerates the pace toward closing. Flexibility, engagement and ease extend into the payment process as well. The Encompass user can pay during the ordering process or have an automation payment link directly to the property contact, who can use a variety of payment methods. Additional optimizations include guided order placement when needed and easy access to payment options.
The benefits of ServiceLink flood solutions available via updated integrations
ServiceLink’s valuation solutions join the flood solutions the company makes available via Encompass. An optimized Flood integration was released in 2022, and many of its existing clients have transferred to using that integration with very positive feedback. Through Smart Client or Encompass Web, users can access a range of features designed to improve workflow, accelerate ordering, and enable lenders to upload additional documentation and perform recertifications directly with ServiceLink. The solution allows users to order under multiple account numbers and provides:
- Automated ordering of flood zone determinations based on lender-set milestones
- Default ordering of Life of Loan Flood Zone Determinations, HMDA and other products
- Upload capabilities for submitting legal documents
- Dispute submission for manual reviews
- Automated corrections at no additional cost
- Servicing transfers
- Commercial flood product ordering
Modernized title and close capabilities: Coming soon
Currently under development, the ServiceLink title and close integration will deliver a variety of innovative features to significantly improve efficiency and reduce turn time. For example, Encompass users will receive instant title decisions and timelines immediately after placing an order. This feature will not only speed up the title process but also help lenders accurately project the closing date. Loan processors and closers will also have access to the same real-time scheduling technology now being introduced with ServiceLink’s valuation solutions, reducing back-and-forth communication and improving closing efficiency.
Gaining access to ServiceLink’s valuation solution through Encompass is simple and takes only a few minutes for existing clients. Once the new service has been added by the Encompass administrator, lenders will have access via Encompass SmartClient or Encompass Web. ServiceLink has dedicated teams to address questions, offer technical support, and bring lenders on board.
To learn more about the ServiceLink valuation and flood services available via Encompass Partner Connect, visit https://go.svclnk.com/ServiceLink-Encompass.html.
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