Benefits of Using SettlementOne......


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SettlementOne Valuations - Appraisal Management Company

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Benefits of Using SettlementOne......

  1. 1. Our Values & Principles We will be the recognized market leader and innovator of choice; the provider of comprehensive services and technology to our respective industries. Our Principles Excellence Operational Culture of Value of Partnership Corporate in Service Efficiency Improvement Value every customer Responsibility Value each customer Lean initiatives enable Continually look for ways and every role internal Commitment to operate as if they are our only us to establish to enhance our service and external to the in a lawful and ethical customer. business strategies technology, effectivenes organization, continually manner, improving the and processes that s and improving our culture of economic development provide outstanding profitability, delivering respect and of each business unit value for our extraordinary value to appreciation. and their respective customers. our customers. customers.
  2. 2. Corporate Brands Parent Corporation VOE Consumer Data Appraisal Mortgage Data Title Insurance Products Products Pre-Employment Quality Assurance Escrow Services Screening Web Marketing Tools
  3. 3. Partial Client List• American Pacific Mortgage • Ohio Valley Banc Corp • North Valley Bank• Pentagon Federal Credit Union • Credit Union West • Opes Advisors• First National Bank of Omaha • TD Bank N.A. • Mortgage Financial Group• American Financial Network • Denali Alaskan FCU • Southern Bancorp• First Mortgage Corporation • South Valley Bank and Trust • Bank of The Cascades• PHH Home Loans • Eastland Financial Corporation • SPC Cooperative Credit Union• Renasant • Burke & Herbert Bank & Trust • Hughes Federal Credit Union• Bank of Internet USA • Integrity First Financial • Generations Federal Credit U• Elevations Credit Union • Sun Federal Credit Union • First Bank & Trust of Murphy• Redstone Federal Credit Union • Homewise, Inc. • Copiah Bank, N. A. – Crystal• Deere Employees Credit Union • Security National Mortgage • Eastern Utah Community Credit Union• Hoosier Hills Credit Union • Metro Bank • Devon Bank• Safe Credit Union • Northwest Bank & Trust Co. • Central State Bank Mortgage• Fidelity Homestead Savings Bank • E-Central Credit Union • Xcel Federal Credit Union• Virginia Housing Development • Tidelands Bank • Troy Bank & Trust• Credit Union of Colorado • Spirit of Alaska Federal Credit Union • Republic Bank• Polish & Slavic Federal Credit Union • First Choice Loan Services • ISU Federal Credit Union• TIB Bank of the Keys • Spire Federal Credit Union • FNB Mortgage Services, LLC• Twinstar Credit Union • Pelican State Credit Union • First Metro Bank• OSU Federal Credit Union • Florida Capital Bank Mortgage • San Diego Private Bank• Blackhawk Community Credit Union • OA Mortgage dba Terra Mortgage • Peoples Independent Bank• Citadel Federal Credit Union • Heritage Credit Union • Mutual 1st Federal Credit Union• Millenium Home Mortgage • Fibre Credit Union • MidSouth Mortgage Company• First Savings Mortgage • Campus Federal Credit Union • Green Bank• Mountain West Bank • Santa Cruz Home Finance • FNB Hamilton Bank• Savings Bank of Mendocino • Greater Iowa Credit Union • First Exchange Bank• Community Mortgage Funding • Great Lakes Credit Union • Falcon International Bank• Westerra Credit Union • PIMA Federal Credit Union • Texell Federal Credit Union• Arizona Central Credit Union • 1st Financial Federal Credit • Landmark Community Bank• Pacific Union Financial • On Q Financial • First Southern State Bank• Gibsland Bank & Trust • Five Star Credit Union • Farmers Insurance Federal• Commercial Bank of Ozark • Colorado Credit Union • CB&S Bank
  4. 4. Vice President of OperationsVicky Hamilton, Vice President of Operations• Responsibilities: All aspects of operations within the Valuation division• Experience: • Over 30 years in mortgage lending and banking • Held executive level positions with large banks including Wells Fargo, JP Morgan Chase, and Wachovia • Served as Vice President of West Coast Operations for First American Eappraiseit• Expertise: • Management of operations, sales, and servicing functions in retail, wholesale, and correspondent channels • Underwriting and compliance expertise• Leadership: Managed in excess of 150 employees
  5. 5. Director of Quality AssuranceJo Hartman, Director of Quality Assurance• Responsibilities: • All quality control functions including compliance to Appraisal Independence regulations, FNMA, FHLMC, FHA, and USPAP guidelines • Oversees SettlementOne‟s Quarterly Review services being performed as the 10% random selection audit per Fannie Mae Selling Guide regulations• Experience: • Worked in the appraisal industry for the past 24 years and is a Certified Appraiser • Over 20 years working for financial institutions and appraisal management companies (18 years in management)• Leadership: Prior to joining SettlementOne, was responsible for the management of over 100 staff appraisers and fee panel of over 10,000 appraisers
  6. 6. SettlementOne Operating Departments Panel Management – Credentialing ofHeaded by executives with Client approved appraisers, ability toover 100 years combined supplement with SettlementOne National Panel, and appraiser maintenanceexperience in appraisaloperations & management Operations – Ordering, processing,• Experience delivering and communicating during the appraisal process• One-stop Fulfillment• Responsive Service Quality Assurance – Manual review of every appraisal prior to delivery to lender, quarterly 10% Quality Control audit of lender appraisals per Appraisal Guidelines Technology – Develops, implements, and maintains all technical servicing needs, assuring a security level of SAS 70 Type II for all transactions
  7. 7. SettlementOne Compliance SummaryCompliance, Service, & ExcellenceSettlementOne helps lenders maintain compliance with the latestappraisal regulations by providing you with the resources you need tostreamline operations in accordance with: • Fannie Mae Appraiser Independence Rules • Freddie Mac • Interagency Guidelines • Dodd-Frank • Individual State Requirements
  8. 8. Uniform Mortgage Data ProgramFannie Mae, Freddie Mac, & FHFA Uniform Mortgage Data Program (UMDP)Components of UMDP: UAD (Uniform Appraisal Dataset) – SettlementOne reviews each appraisal to ensure compliance with UAD standards UCDP (Uniform Collateral Data Portal) - Automated delivery to one or both of the GSE‟s, at no charge
  9. 9. About SettlementOne Valuation Company Benefits of Partnering with SettlementOne: • National appraiser panel • Dedicated coordinating teams • Certified & licensed appraisal review teams • Advanced technology solutions • Fully compliant valuation solutions program
  10. 10. SettlementOne Panel Options SettlementOne Provides the Ability to Create a Custom Panel Retain trusted appraiser relationships– simply provide SettlementOne with your current panel, and we‟ll establish appraiser geographic territories, and monitor the accuracy and rotation of appraisers for you.SettlementOne‟s National Panel• Access to 20,000 appraisers nationwide• Over 85% of our appraisers are Certified• Ability to supplement geographic deficiencies• Create subsets based on loan programs or property type• Industry leading pay
  11. 11. Appraiser Independence: Appraisal Guidelines Fully Managed Appraiser Credentialing • Service Level Requirements • Update/Verify Licensing • Document E&O/Certifications • Maintain Disciplinary Procedures • Monitor Exclusionary Lists • Maintain Ongoing Eligibility
  12. 12. Ordering ProcessOrdering Process:• Non-compliant: Order placed by a processor or anyone reporting to a member of the mortgage division• Not efficient: Order placed via fax, email, or phone. Too time- consuming, error-prone, and difficult to ensure non-preferred rotation• Increased risk & liability: Order placed via email or phone, which can direct to an appraiser (potential for non-compliance) With SettlementOne, benefit from: • Compliant ordering • Streamlined ordering process • Compliant communications • Effective pipeline management • Ordering efficiency Partner with SettlementOne and Create efficiencies and reduce risk!
  13. 13. Appraisal Order LogicProximity Logic• Property is mapped, 3 closest appraisers are shown in rotation based on proximity to subject property• Mileage radius for mapping is customized based off of panel. Standard is 10 miles moving out to 20 milesAssignment Logic• Certifications• Proximity• Availability – Analyzed past quality ratings• Capacity – Reviews current pipeline & ability to deliver timely
  14. 14. SettlementOne Solution: Appraisal GuidelinesThe average number of communications with the appraiser per transaction is 4.5.With SettlementOne, you save almost a full work week(37.5 hours of valuable employee time) each month SettlementOne‟s Dedicated Team Approach is a Unique Advantage • Responsive coordinators • Industry leading turntimes • Assignment with personnel oversight • Knowledgeable on your orders • Quick resolution to issues • No impersonal call centers • Operational efficiency • Ensures compliance by eliminating direct communication with processors & appraisers
  15. 15. Operations Overview – Quality ControlDid you know…• 35% of all appraisals contain errorsWith SettlementOne Valuation, our thorough QC process and staff of qualifiedreviewers ensures we significantly reduce errors & close loans on time. Customized Review Process • Technical & manual QC on every order • Incorporate lender underwriting checklist • Managed appraisal dispute process • 24 hour post-completion corrections • Non-influence Certificate with each order
  16. 16. Operations Overview – Quality ControlManual QCSettlementOne Valuation also performs a custom,100% manual review on every appraisal prior todelivery to assure the utmost in quality control.We manage all the quality assurance process forclients at the fraction of the time and cost of internalreporting.SettlementOne Valuations Customized ReviewProcess includes: Customized QC checklist Review and maintenance of appraisal issues Disciplinary and strike process for appraisers Two touch process for each appraisal
  17. 17. Overview of Order Fulfillment Process Order Verified, Appraiser Secure Delivery of Selected, Order Placed, Client Information Inspection Scheduled Client Appraisal Appraiser Request for Received by Completes Appraisal SettlementOne Order Coordinator Notification to Client Notification to Client Notification to Client • Timely notifications • Enhanced security • Responsive service • Efficient process Notifications Sent to Client management via throughout platform Process, Secure Delivery • Convenient pipeline status notifications Order Delivered S1 Quality with Compliance Review Certificate Notification to Client
  18. 18. Automated Appraisal Delivery to Borrower Advantages of SettlementOne Appraisal Delivery • Centralized delivery • Compliant delivery & tracking • Soft cost savings At 100 loans per month, to deliver appraisals via mail, the average employee expense is $200 per month. By using SettlementOne‟s automated appraisal delivery, you save $2,400 a year in mailing costs.
  19. 19. QC Testing Audit: Appraiser Guidelines Quarterly Quality Control Testing & Findings Report • 2nd valuation run on a randomly selected 10% of appraisals, secondary product free of charge • Licensed appraiser completes all comparative reviews • Quarterly report provided includes required findings for Fannie Mae & Freddie Mac • Quarterly report also meets new regulatory requirements for Appraisal & Evaluation Guidelines
  20. 20. Operations Overview – Branch Setup & Reporting Ability to View Activity by „Parent/Child” Accounts• View all branch/broker activity• View order status by branch “Parent” Account• Run real-time status reports • View admin reports by branch ̶ Date Range • Run real-time status reports ̶ Product Type • Control distributed organizations ̶ Export Data • Activate/deactivate branches• Branches have no lateral access Individual Branch Users „Manager Level‟ Users Branch 1 „Branch Only‟ Access Branch 2
  21. 21. Client ImplementationPre Launch Timeline: Per Deployment Plan  Setup includes• Indentify official launch date, set timelines & customization milestones leading up to date  Customized panel• Agreement sign with non-binding trial period programmed & fee schedule  Post-launch report• Implementation meeting with Director of card Operations & Account Management Team  SettlementOne• Consultation between Client‟s Chief bears all costs Underwriter & S1‟s Dedicated QC Team• Set “test launch date” prior to official “full launch date”• Program client user list and branch lists into S1 platform• Set up Webinar training for all users with training materials prior to test launch