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SharperLending LLC's Appraisal Firewall Receives Confirmation of Operational Readiness by Veros for UCDP Connectivity

Jan 10, 2012

Appraisal Firewall Delivers Smooth Transition to UAD Validation, UCDP Usage for Lenders through Veros-provided Solution.

January 10, 2011, Spokane, Wash. – Mortgage technology provider SharperLending LLC is pleased to announce that its Appraisal Firewall product has been confirmed by Veros Real Estate Solutions (Veros) as operationally ready for successful submission to the Uniform Collateral Data Portal® (UCDP®). The Appraisal Firewall interface to the UCDP was released to production on November 10, 2011, well in advance of the December 1st deadline for lenders. The confirmation of the successful connection, through Veros’ integrated solution, reinforces the reliability of the UCDP connection for lenders and value-added Resellers.

Veros Real Estate Solutions is the technology provider for UCDP and is responsible for building, maintaining and supporting the system. In addition, Veros provides interface and data delivery access to UCDP through a variety of its own solutions which offer seamless and direct access to the portal.

Appraisal Firewall is a secure, cost-effective, non-AMC technology solution for lenders to manage their own appraisal process and work with their trusted local appraisers to increase the speed of loan production and underwriting. Additionally, Appraisal Firewall helps lenders comply with all appraisal independence regulations, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, Interagency Appraisal and Evaluation Guidelines, and GSE requirements for lenders to submit UAD-compliant appraisals electronically to the UCDP.

"Appraisal Firewall has processed many UCDP transactions over the past month, and we are proud that our technology is now ready for full scale production by Veros, the technology provider for the UCDP," says Dave Black, President and CEO of SharperLending LLC, the company behind the Appraisal Firewall technology. "In automating the PDF conversion, UAD error check, and UCDP submission process for lenders, Appraisal Firewall provides the efficiency that lenders need to maintain consistency in their appraisal processes without ever leaving their familiar appraisal technology. The differentiating factor between us and other options is that, in addition to our suite of UCDP solutions, lenders can self-manage their appraisal process, work directly with their appraisals, and comply with all appraisal independence regulations."

"We congratulate SharperLending on the complete integration to the UCDP portal for their Appraisal Firewall clients,” said David Rasmussen, SVP of operations at Veros Real Estate Solutions. “SharperLending is on the right path to increasing transparency and industry standardization by giving their clients the ability to move effortlessly through their current solution all the way through to UCDP submission. Through its early adoption of UCDP and by using Veros’ solutions to access tools like PDF conversion and UAD compliance checks, Appraisal Firewall will help move the industry forward.”

"All of our lenders and value-added Appraisal Firewall resellers would expect nothing less than this from SharperLending and Appraisal Firewall," continues Black. "Over twenty years of service speaks to the success of our company and products. Valued partnerships like we have with Veros Real Estate Solutions help us constantly improve on our successes."

About SharperLending, LLC

Headquartered in Spokane, Wash., SharperLending LLC, was founded in 1989 and was the first to offer a complete Web browser-based mortgage credit reporting system on the Internet. The company’s proven technology has processed more than 100 million secure mortgage transactions. SharperLending has been processing appraisals since the late 1990s, with Appraisal Firewall breaking out of the company’s settlement services technology into its own unique offering. SharperLending, LLC, has three divisions under its corporate umbrella: SharperLending Mortgage Services Division, the mortgage services and Appraisal Firewall platforms; SharperLending Credit Division, technology for the credit reporting industry; and SharperLending Solutions, the loan origination product packaging division. For more information, call (800)452-1174 or visit www.SharperLending.com.

About Veros Real Estate Solutions

Veros Real Estate Solutions, a proven leader in enterprise risk management and collateral valuation services, uniquely combines the power of predictive technology, data analytics and industry expertise to deliver advanced automated decisioning solutions. Veros products, systems and services, integrated into industry leading companies, are now optimizing millions of profitable decisions throughout the mortgage industry from loan origination through servicing and the secondary markets. Veros provides solutions to control risk and increase profits including automated valuations, fraud and risk detection, portfolio analysis, forecasting, and next-generation property valuation workflow and risk management platforms. Veros is headquartered in Santa Ana, Calif.


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