Now you can take additional steps to prevent appraisal bias – with Appraisal ScorecardX from Xactus. Appraisal ScorecardX utilizes advanced technology to conduct automated appraisal reviews that catch any issues with appraisal completeness and assure compliance which, in turn, reduce your risk. It features an Indicative Words tool that allows review teams to:
- Customize their own list of words which may infer there was racial or another type of bias during the appraiser’s analysis that may have altered the perceived property value
- Identify key terms your organization, underwriters and/or investors require be present in the appraisal report
The goal is to help all borrowers receive a fair and impartial appraisal, and Appraisal ScorecardX can help you achieve it!
Please note: The Indicative Words tool only partners with the enabled Appraisal ScorecardX feature.
Xactus also offers these property solutions to help you determine how much a property is worth:
- VerisiteX: Mobile property inspection reports including interior and exterior photos and property descriptions and collateral valuation data.
- Xactus Appraisal FirewallX: Powerful residential and commercial appraisal valuation management software that allows lenders to manage and customize their own appraisal processes with trusted, local appraisers and/or AMCs. It’s integrated with numerous LOS systems such as Encompass® by ICE Mortgage Technology®. Plus, Xactus Appraisal FirewallX is the only solution in the industry that can be integrated directly with your LOS to deliver the most complete, enterprise-level VA appraisals.