Appraisal Firewall Release Information for
Thursday, April 5th, 2018
Release Information for Appraisers
 
Starting Thursday morning, April 5th, an enhanced version of Appraisal Firewall will be available to you.  With this release, we will be creating enhancements to the commercial order process, and will enable  your lenders to order a new FHA product. Read below for complete detail.


Increased Demand for Commercial Appraisals Prompts System Expansion
As commercial lending increases in 2018, our newly expanded system gives you more control over your commercial appraisal business.  Appraisal Firewall allows you to customize your commercial workflow to best suit the needs of your company.  We’ve enhanced the commercial order process, from order bidding to easier communication with your lenders.
  • New Commercial Appraisal Ordering Options for Your Clients
    We’ve provided your lender clients with some new order options including a new product called Appraisal Report, which is a standard product name that’s accepted by USPAP.  We have also added an additional data entry field for Property Interest which helps transmit more information to you up front.   Both the Appraisal Report product and the Property Interest field are available to your lenders by default which you will be able to view on the property information tab and Print screen of the order.
  • Allow Conditional Acceptance
    Your clients can allow you to conditionally accept commercial orders due to a change of price or turn time that may have occurred since the time the bid was originally submitted.  When enabled by your lender, you will see this option available on the acceptance screen of a commercial order.
  • New Commercial Coverage for Appraisers
    We have enhanced appraiser accounts to be able to designate their commercial coverage in addition to the already available residential coverage.  Now, if you perform commercial appraisals, a new Commercial Coverage section will appear within your account settings.  Commercial appraisers can enter the areas they perform commercial appraisals in and keep it separate from their Residential Coverage.  With this release, if you have marked that you perform commercial appraisals, your Residential coverage will automatically be copied over to the new Commercial Coverage section which you can modify at any time. 

Other Enhancements with this Release…

  • New HUD Compliance Inspection Report Product Type
    The new 92051 HUD Compliance Inspection Report will be available with this release. The form is required for FHA construction reinspections and is different from a normal FHA 1004D. Now your lender clients across the board will be able to order the new product.

    How to use this feature:
    The new 92051 HUD Compliance Inspection Report will be automatically available to your lenders placing orders in Appraisal Firewall and you will be able to easily spot on the order information tab and Print screen whenever they order it.  If you perform FHA appraisals, you can enter your general pricing for the new product within your account settings.