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Mortgage Companies · Workflow
Appraisal ordering and tracking
Automates the ordering, tracking, and completion of property appraisals for mortgage loans, reducing manual coordination and ensuring timely delivery for underwriting decisions.
Workflow Trigger
Loan application reaches appraisal stage in underwriting workflow
Visual Flow
Each node represents an automated step. Connections show how data and decisions move through the workflow.
Step-by-Step Breakdown
Detailed explanation of each automated stage in the workflow.
- 1Trigger
Appraisal Stage Reached
Loan file automatically triggers appraisal ordering when underwriting determines property valuation is required. System extracts property details and loan information from the loan origination system.
- 2Action
Generate Appraisal Order
System automatically creates appraisal order with property address, loan amount, and borrower contact information. Order is formatted according to AMC requirements and compliance standards.
- 3Action
Submit to AMC Network
Appraisal order is automatically transmitted to preferred Appraisal Management Company through integrated API. System selects AMC based on geographic coverage and turn-time requirements.
- 4Decision
Check Appraisal Status
System monitors appraisal progress and checks if report has been completed within expected timeframe. Automated status polling occurs every 24 hours.
- 5Action
Send Follow-up Communications
If appraisal is delayed beyond target date, system automatically sends reminder notifications to AMC and updates borrower on status. Escalation alerts are sent to loan officers for high-priority files.
- 6Action
Process Completed Appraisal
When appraisal report is received, system automatically uploads document to loan file and extracts key data points including appraised value. Compliance checks are performed for USPAP requirements.
- 7Output
Update Loan File Status
Loan file status is automatically updated to reflect appraisal completion and the file is queued for continued underwriting review. Automated notifications are sent to underwriter and loan officer.
Outputs
- Completed appraisal report in loan file
- Updated loan status in LOS
- Automated borrower and staff notifications
Key Metrics
- Average appraisal turnaround time
- Appraisal order accuracy rate
- On-time appraisal delivery percentage
Tools & Integrations
OA
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