Global DMS, Lansdale, Pa., has unveiled a new technology tool that allows lenders to transfer and receive Home Valuation Code of Conduct compliant appraisals. Announced at the Mortgage Bankers Association convention in San Diego, the tool, AppraisalTransfer.com, is an online portal that hopes to solve the "portability issue" of appraisals, said Global DMS chief operations officer Matt McHale. While it is permissible to transfer appraisals, lenders are reluctant to do so, he said. Even if there is portability it is usually just a transfer between users of the same appraisal management company. With AppraisalTransfer.com the goal, said Mr. McHale, is to allow any lender to have access to the appraisal. (There is no charge to the lender.)
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