Sapphire has the structured flexibility to meet specific organizational business needs through the addition of available tools and features allowing clients to select a package of capabilities to fit specific operational needs.
Appraiser Panel Management (APM)
APM gives lenders or AMCs the flexibility to include their own roster of appraisers while remaining compliant with Dodd-Frank, FHA, and other appraiser independence regulations. The APM functionality allows clients to electronically invite appraisers to join their network, keep response times high and reduce costs over the long term.
Lenders maintain total control of the order flow to their appraiser panel with the ability to add, remove, or change panel members and modify order rules on-demand. Users can set and track negotiated service fees on an appraiser-by-appraiser basis. Additionally, lenders can:
- Track appraiser licenses for proper credentials, license status and expirations, as well as certification levels.
- Manage communications between lender and appraiser in one central location to create a complete audit trail.
- Adjust schedules and track appraiser availability (i.e. vacation schedules).
- Search for appraisers already using Sapphire and invite appraisers to participate in their panel.
- Set capacity per appraiser to ensure individuals are not overloaded.
Vendor Management & Optimization (VMO)
VMO is a powerful way to utilize data and decisions already tracked within Sapphire to engineer smarter valuation choices with every system interaction. As reviewers complete assignments and enter ratings for each appraisal or other valuation product, Sapphire aggregates multiple data points which are available to managers for review and modification of rule weightings.
Sapphire allows clients to transform data related to turn-times, QC-rejected valuations, manual review scores and more into actionable decision points, optimizing future returns from the respective vendors connected through Sapphire.
Sapphire offers streamlined options to help clients convert, check and submit electronic appraisal data directly to Fannie Mae and Freddie Mac’s Uniform Collateral Data Portal® (UCDP®) including:
UAD & UCDP Preview
Provides an initial run-through for Uniform Appraisal Dataset (UAD) compliance and UCDP’s known requirements to confirm an expected passing status.
UCDP Hard Stop Override
Provides the ability to submit error correction codes for known UCDP submission hard stops.
Sapphire will submit to UCDP on behalf of the user. Submission is automatically triggered after completion of the appraisal review within the Review Module.
PDF Extraction Services
Users can automatically convert PDFs to XML format allowing for submission to UCDP or for other digital transmissions.