Reggora has introduced a warranty for appraisal reviews that covers financial losses from defects, aiming to enhance efficiency in mortgage lending. Approximately 70% of the appraisals can utilize this warranty, allowing lenders to forego manual underwriting on most cases.
Brian Zitin stated, "Eliminating the need to manually underwrite the vast majority of appraisals goes well beyond a technology improvement and truly allows lenders to close loans faster at a lower cost," highlighting the operational efficiencies created by their innovative solution.
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