National title agency, appraisal management company (AMC) and technology provider ValuAmerica announced that it is now integrated with the Federal Housing Administration (FHA)’s Electronic Appraisal Delivery (EAD), a Web-based technology system that enables FHA-approved lenders and their third-party service providers to transmit appraisal data and reports to FHA prior to loan endorsement.
The EAD portal reviews submissions against FHA appraisal data and report requirements in real time, and notifies lenders of any discrepancies that need to be addressed.
“We’re committed to providing our clients with the services and technology they need to successfully run their mortgage businesses,” said Shawn Murphy, executive vice president of ValuAmerica. “Integrating with FHA’s EAD portal will help our clients enormously by streamlining data entry processes, allowing them to seamlessly upload reports to FHA, and reducing error rates before endorsement by identifying any appraisal data or compliance issues upfront.”
ValuAmerica, headquartered in Pittsburgh, is one of the first AMCs to provide access to the EAD portal with direct system-to-system integration for its lender clients. All FHA-approved lenders are required to use the EAD portal effective June 27, 2016.