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Industry research indicates a better appraisal process saves lenders over $250 per loan and takes at least two days off the loan origination process.

Traditional manual appraisal management costs lenders $87 per loan file by slowing appraisal turn times and lengthening the loan cycle. By automating parts of the appraisal ordering and management process, Reggora makes appraisal operations significantly more efficient and cost-effective.

It’s well established that the appraisal process can be a painful cost center for lenders, but that doesn't have to be the case. By solving several common appraisal-related pain points with technology, lenders are cutting costs and eliminating headaches in the process.

Manual, outdated appraisal processes cost mortgage lenders unnecessary time and money, but this doesn’t have to be the case. The first step to eliminating these costly pains is for lenders to understand the root cause of their issues and how to solve them.

Labor from traditional appraisal billing and invoicing costs lenders $69 per loan file on average. Reggora automates payments for lenders — the most time-consuming and financially risky parts of the appraisal billing and invoicing processes — to help lenders save money and avoid significant revenue leakage.

Traditional appraisal reviews can run upwards of 2 hours and cost lenders $99 per loan file on average. Reggora’s integration with Clear Capital reduces overall review times by 82% through manual workflow automation and intelligent appraisal review.

It’s more than just desktop appraisals and an online platform to accept appraisal orders — appraisal automation reduces a lender’s cost per loan by $258 and Brian Zitin outlines six areas of the process where lenders can adjust their operation to see these gains.

Lenders lose more than $50 per loan file from unpaid appraisal bills and fee escalations that are never passed to the borrower. Reggora’s appraisal management platform has reliable, proven tools to curb revenue leakage without negatively impacting the borrower’s experience.

STRATMOR Group data points to the appraisal process as a huge opportunity for lenders. Increased speed, efficiency, and an improved borrower experience in appraisals equate to a value of $286 per loan file for lenders. Read to learn how.

Reggora’s integration with Clear Capital automates appraisal review to reduce manual efforts while improving appraisal quality control. Learn how this workflow can reduce time and costs per loan file for mortgage lenders.

Why should lenders focus on improving their appraisal process? Improving margins, enhancing the borrower experience, and bringing repeat business. Read on to see how appraisals hold the key to reducing a lender's cost per loan while also growing top-line revenue.

To stay ahead of the competitive landscape of mortgage, lenders must focus on satisfying borrowers and delivering a speedy loan cycle. Here's how the appraisal process is key to satisfying borrowers while also reducing a lender's cost per loan.