PITTSBURGH, Feb. 8, 2016 /PRNewswire/ -- ValuAmerica, a national title agency, appraisal management company (AMC) and technology provider, today announced that ValuAmerica is now integrated with the Federal Housing Administration's (FHA's) Electronic Appraisal Delivery (EAD) portal.
FHA's EAD portal is a web-based technology system that enables electronic transmission of appraisal data and reports to FHA by FHA-approved lenders and their designated third-party service providers prior to loan endorsement. 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.
ValuAmerica is one of the first AMCs to provide its lender clients access to the EAD portal with a direct system-to-system integration.
"We're committed to providing our clients with the services and technology they need to successfully run their mortgage businesses," said Shawn Murphy, executive vice president of ValuAmerica. "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, Inc. is wholly owned by Clayton Holdings LLC, a subsidiary of Radian Group Inc. (NYSE: RDN), and is a provider of real estate information and technology services to the mortgage and real estate industries. Through its two main operating divisions—Intelligent Property Solutions and Innovative Technology Services—the company provides a comprehensive suite of appraisal, title, closing, and settlement services, as well as develops technology to help automate workflow and compliance processes. For more information about ValuAmerica, please visit www.valuamerica.com.
SOURCE ValuAmerica, Inc.