This process unnecessarily retards the flow of information. An appraisal should
be the first step in the loan origination
process. That way – mortgage professionals can deliver complete and accurate property information
potential lenders – allowing lenders to make faster and better informed decisions.
Ordering the appraisal as the
first step saves most transactions 4 weeks, and can save as much as 3 months, if
the first lender declines the loan after the appraisal is complete.
BrokerFast lender partners are committed to making the loan origination process
as professional and easy as possible. BrokerFast lender partners allow registered
mortgage professionals to order an appraisal from a list of approved appraisers
and begin the loan process immediately.
The CREFX Concept
CREFX is the lender portal for mortgage professionals. Participating direct lenders
display programs and preferences to assist in selecting the best match.
Mortgage bankers and brokers access collateral screening tools and investment summary
report wizards to quickly size and package a loan request. Borrower and property
information is quickly and easily shared between lenders, brokers and appraisers
reducing the time it takes to receive a commitment.