Appraisal management software company Reggora will offer a no-cost benchmark evaluation to help lenders improve their appraisal operations and performance, the company announced.
Reggora’s mortgage solutions team is focused on helping lenders reduce appraisal turn times and operational costs. This complimentary evaluation provides insight for lenders to create an “actionable path” to reduce cycle times, decrease their cost per loan and improve borrower satisfaction, the company said in a press release. Participating lenders will also be able to see how their operation compares to their peers nationwide.
STRATMOR data shows that 12.3% of closings are delayed because of the appraisal, and part of the delay is actually within a lender’s control. The data also showed that one in four loans has an appraisal revision request, Reggora said.