Integration of Reggora’s appraisal data points into AI Underwriter reduces errors, speeds up the mortgage process and reduces costs
June 27, 2023 – SALT LAKE CITY, Utah – Lender Toolkit™, a leading provider of automated mortgage technology solutions powered by artificial intelligence (AI), announced it is now integrated with Reggora, an appraisal management software company that is modernizing residential real estate valuations for mortgage lenders.
The integration enables Reggora’s appraisal management workflow and resulting datapoints to be digitally transferred to Lender Toolkit’s AI Underwriter™, the mortgage industry’s only automated underwriting system capable of underwriting loans in 90 seconds or less. The datapoints are automatically applied to real-time underwriting conditions, resulting in a reduction of underwriting errors and a faster underwriting process—thus reducing a lender’s costs while providing their customers with a more efficient borrowing experience.
“We’re elated to partner with Reggora’s modern appraisal management platform, which has a well-documented open API that makes integrations easy to maintain,” said Brent Emler, director of sales at Lender Toolkit. “While appraisals can often complicate the origination and underwriting processes for mortgage lenders, the combination of Reggora’s platform with AI Underwriter will help our clients shorten appraisal and underwriting cycle times and ultimately reduce costs. That savings can be passed on to borrowers.”
“We are excited about the integration of our platform with Lender Toolkit’s AI Underwriter,” said Brian Zitin, CEO of Reggora. “The integration eliminates the traditionally manual, mundane tasks associated with identifying and resolving loan conditions, which gives underwriters time to focus on more complex issues.”
Lender Toolkit is adept at helping lenders adopt the organizational changes necessary to achieve maximum results while implementing its MaaS™ (Mortgage Automation as a Service) solutions, which include AI Underwriter, Disclosure Automation, Prism™ Income Automation, Post Close Automation, Investor Delivery and more. All Lender Toolkit products are designed exclusively for the industry’s leading loan origination systems (LOS) to give its users an intuitive and efficient experience.
The Reggora platform improves the borrower’s experience for lenders by resolving some of the most common issues that arise during the appraisal, including paying for the appraisal, scheduling the inspection and seeing the status. Reggora also addresses inefficiencies associated with traditional appraisal workflows that slow mortgage lenders’ cycle times, keep production costs high, and negatively impact the borrower’s experience.
About Lender Toolkit
Lender Toolkit leading platform Mortgage Automation as a Service™ (MAAS™) is powered by artificial intelligence (AI) and offers innovative and comprehensive solutions that streamline the mortgage origination process for mortgage lenders. The company’s software plug-ins, add-ons and programs can be integrated and run in tandem with the mortgage industry’s leading loan originations systems (LOS) where tasks that have traditionally been performed manually can be automated and customized. With Lender Toolkit’s Responsible Mortgage AI™, the company is quickly bringing mortgage lending into the future. For more information, visit www.lendertoolkit.com.
Reggora is driving appraisal innovation with a modern, two-sided platform for mortgage lenders and appraisal vendors. Through advanced and configurable workflows, Reggora streamlines the entire appraisal process for everyone involved, while improving the overall borrower experience. Lenders and appraisers benefit from payment processing, automatic appraisal ordering, rule-based reviews, appraisal delivery, status updates, and more, creating unprecedented operational efficiency.