Bradford Technologies Wins Innovations Award from Progress in Lending
Bradford’s Redstone recognized as original and pioneering
April 4, 2016 – San Jose, CA – Bradford Technologies, a provider of appraisal technology solutions, announces that it has received an Innovations Award from Progress in Lending Association for Redstone™, which the company introduced in 2015. The honor was presented at an April 3rd award ceremony that marked the opening of the Mortgage Bankers Association’s National Technology conference in Los Angeles, California.
Redstone was developed by Bradford Technologies to help real estate appraisers support their appraisal reports to lenders and the government-sponsored enterprises (GSEs).
The Progress in Lending Association Innovations Awards recognize solutions that were introduced into the mortgage industry during 2015 that changed the industry for the better. Nominations were scored on a weighted scale based on the innovation’s overall industry significance, originality, positive change, hard cost, time savings and intangible efficiencies.
“We are delighted to receive this award from the Progress in Lending Association, which plays a significant role in promoting mortgage industry innovation,” said Jeff Bradford, president of Bradford Technologies. “This recognition is an acknowledgment of the importance Redstone plays in helping appraisers provide more detail and analytical support in their appraisal reports.”
Lenders today are demanding greater transparency and repeatable results from appraisers, Bradford explained. “Redstone has been particularly useful in helping appraisers add statistical support to their appraisals and better defend their value conclusions,” he said. That’s become increasingly importance since Fannie released its automated risk assessment tool, Collateral Underwriter™ in January 2015. Redstone is designed to analyze market data in much the same way that Fannie Mae’s Collateral Underwriter analyzes data, giving appraisers the needed tools to select appropriate comparables and provide the statistical support needed to defend their appraisals if challenged or flagged by Fannie Mae.
About Bradford Technologies, Inc.
For over 29 years, Bradford Technologies has been dedicated to producing innovative solutions for Valuation Professionals. From the most intuitive appraisal applications available to cutting-edge Computer-Aided Appraisal Software, Bradford continues to develop trailblazing products that set the benchmark for the industry. For more information on Bradford Technologies, call 800-622-8727 or visit www.BradfordSoftware.com or www.AppraisalWorld.com.