Mortgage technology provider SharperLending® announced today that El Paso Area Teacher’s Federal Credit Union (TFCU) has selected its Appraisal Firewall® Verisite mobile property inspection solutions as the primary platform for gathering collateral valuation data for its construction, Texas equity lending, and home improvement loan programs. Lending departments at TFCU will use the secure, web and mobile-based Verisite system to order, receive, and run QC in a more efficient manner with the AVM and valuation products necessary for qualifying loan programs, providing faster closings. Verisite will also help to maintain member and appraiser health and safety through social distancing, providing better member service.
TFCU’s lending departments will be able to showcase its loan processing speed by sending property data collection requirements to homeowners, who can securely collect data, then transfer data for validation. TFCU will receive validated property data in a report, including interior and exterior photos and descriptions, then combine it with AVM data, run QC, and achieve substantial loan origination time- and cost-savings.
“Verisite will help us realize tangible gains in processing efficiency on our qualifying loan programs,” said Rick Pustejovsky, VP of Real Estate and Business Lending at TFCU. “The innovation that we get actively helps us get through one of the highest loan volume periods we have ever experienced, and is eliminating speed bumps in the valuation process so we can deliver faster, safer assistance to our members.”
“We are thrilled to assist TFCU with solutions to help fill gaps in loan origination and processing,” said David Chiappe, President of SharperLending, the company behind the Verisite and Appraisal Firewall platforms. “Many valued clients like TFCU are using the Verisite mobile property inspection and AVM tools to get interior and exterior property data while keeping members, borrowers, and appraisers safe through social distancing.”
Verisite is a sub-product of Appraisal Firewall, the secure, web-based real estate appraisal platform for residential and commercial mortgage lenders to manage their own appraisal process.
Established in 1936 by a group of teachers in El Paso, TX, El Paso Area Teachers Federal Credit Union (TFCU) was founded on the belief that educators are agents of change who should have an opportunity to shape the financial products and services they consume. Since those days, TFCU has expanded its charter to include all El Paso County businesses, organizations, and residents, making the TFCU family and its unique brand of community banking even more demonstrative of its region and values. With ten local branches, over $740 million in assets, and 65,000-plus members, TFCU, today, is as dynamic an organization as the membership it supports, offering great, low loan rates, high-interest dividends, and free financial education. The mission of TFCU is to be El Paso’s premier financial institution through trust, education, and excellent member service, stimulating personal enrichment and community economic development. For more information, contact Ale Loeza, Marketing, and Public Relations Manager for TFCU at (915)497-1218 or email firstname.lastname@example.org.
Headquartered in Spokane, Wash., SharperLending was founded in 1989 and serves strategic partners and lenders in the financial and mortgage technology industry with five flagship products. SharperLending LLC has been innovating real estate appraisal technology since the late 1990s, with Appraisal Firewall breaking out of the company’s single-source settlement services technology into its own unique offering in 2005. Appraisal Firewall is secure, web-based residential and commercial appraisal software that enables financial institutions to manage their own appraisal process. Lenders work directly with their trusted local appraisers – and any AMCs they want to work with – to achieve faster originations and superior processing efficiency and while complying with all appraisal regulations. Appraisal Firewall is not an AMC. For more information visit www.AppraisalFirewall.com or call (800) 452-1174.
© 2020 SharperLending LLC. SharperLending®, Appraisal Firewall®, the SharperLending and Appraisal Firewall logos and other trademarks or service marks of SharperLending LLC. appearing herein are the property of SharperLending LLC. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.