LRES, a national provider of commercial and residential real estate asset valuations and management, has updated its DirectConnect platform designed to accelerate the valuation ordering process.
The revamped LRES DirectConnect enables users to reduce system integration time from four to six months down to two to four weeks, according to a company press release.
DirectConnect is joined to the LRES LINK proprietary order management platform to ensure the system is flexible enough to connect any financial institution to any third-party provider of appraisal and property valuation services, the company says. It also sends users collateral valuation reports and supporting data formatted to comply with Mortgage Industry Standards Maintenance Organization requirements.
The new version of DirectConnect offers mortgage lenders, bankers, credit unions and other financial institutions a fast and practical way to order and deliver property valuations, said Roger Beane, the CEO of LRES, based in Orange, Calif.