DartAppraisal.com Reduces Appraisal Turn-Time, Increases Borrower Satisfaction, with Auto-Email Updates

TROY, Mich., Jan. 20, 2011 /PRNewswire/ -- For mortgage brokers and lenders managing hundreds of appraisal orders, red flags during the appraisal process can lead to costly delays and even the loss of a motivated borrower.

Tracking multiple appraisal orders has become easier with the addition of online appraisal tracking technology in recent years.  However, problems still exist that go unnoticed for days before the lender is able to take action to resolve them. From appointment scheduling delays to quality control issues, the quicker the lender is notified, the shorter the overall turn-time on the home appraisal– and in turn, the loan closing.

In a continuing commitment to fast, efficient and accurate appraisal service, DartAppraisal.com has released an update to its DartTracker Plus™  appraisal tracking system  at http://www.dartappraisal.com/products-services/tracking.html that will automatically notify clients as various stages of the appraisal process are completed.  Clients may select all appraisal stages or just key stages for notification.  Instant alerts notify clients of the action required to move forward with the order.

"We recognize that turnaround time for appraisal orders is a key factor in successful loan processing and borrower satisfaction," said Marko Berishaj, vice president of DartAppraisal.com and a certified mortgage banker.  "For our clients, receiving an instant notification when there is a problem allows them to resolve issues in a timely manner and not be caught off-guard by a stalled order."

Studies show that the average time to close a loan is increasing.  As a result, customer satisfaction with mortgage lending is steadily declining.  For lenders seeking to optimize the borrower experience and retain their borrowers, expediting the loan processing time and meeting closing deadlines are becoming increasingly important. (J.D. Power and Associates 2009 Primary Mortgage Origination Satisfaction Study, http://businesscenter.jdpower.com/News.aspx)

According to David Lo, director of financial services at J.D. Power and Associates, "Good underwriting and delivering a satisfying customer experience are not mutually exclusive, and some of the negative effects of a tightened lending environment can be mitigated by simply improving communication between lenders and customers."

Located within the Client Center of the DartAppraisal.com Web site, DartTracker Plus™ is easy to navigate, displaying a pipeline view of all active appraisal orders and their status at a glance. Users simply click any stage to view the details of each individual order, or register to receive customized automatic status updates.  

"DartTracker Plus™ is just the latest example of our commitment to innovative technology," Berishaj added.  "As part of the company's overall strategic plan, we are developing tools that will help streamline loan processing."

DartAppraisal.com also offers DartTracker™, an online tool used to track the status of a single appraisal order.  DartTracker™ can be used without any user log-in or password, and is easily found on the home page of the DartAppraisal.com Web site. Using the client loan or case number, or the street address of the appraisal order, clients can instantly track one order.

DartTracker™ and DartTracker Plus™ are exclusive appraisal tracking systems from DartAppraisal.com, a leading independent provider of nationwide residential real estate valuations.

DartAppraisal.com is a leading independent provider of nationwide residential real estate valuations.   The Troy, Michigan-based company provides appraisal management services, automated valuation models (AVM's), and other custom valuation solutions for hundreds of clients.  DartAppraisal.com uses leading edge proprietary technology to manage a panel of 8,000 state licensed appraisers and is committed to providing the highest quality and efficiency. www.DartAppraisal.com.

SOURCE DartAppraisal.com