“In the appraisal space, technology definitely is the key to ensuring better quality control—but we need to remember that technology's effectiveness is determined by how it's used,” added Jeff Bradford, CEO of Bradford Technologies (creator of AppraisalWorld). “Currently, review and analytic technology is being applied to ensure the quality of appraisals.
"However, the problem with this practice is that the technology is applied after the appraisal is produced."
“The way we can ensure better quality control would be to add analytical technology upfront, before the appraisal has been completed. That way, the appraiser can produce statistically supported appraisals with an inherent higher quality than traditional appraisals. Plus, because the data is transmitted via XML, the statistics and conclusion can be validated on the back end. It’s a win for the entire appraisal industry.”
Read the complete article via www.mortgage-technology.com