Accelerated Mortgage Connection has developed AMCTrak technology to streamline the appraisal process for mortgage brokers while maintaining appraiser independence. AMCTrak provides a quick and easy online system to initiate an appraisal order, pay for and track the progress of the order, and finally deliver a copy to the mortgage broker and lender in full compliance with all state and federal regulations.
Under appraiser independence regulations, mortgage brokers have lost a certain amount of control over the appraisal process. The AMCTrak solution is a complete originator solution that allows the mortgage broker to not only place orders 24 hours-per-day via the AMCTrak web site, but also track their orders easily to determine the status of each file. Morgage lenders are assured they are using a safe, secure system which conforms to all new appraiser independence regulations.
Finally, originators can track the process in the appraisal pipeline via the AMCTrak web site to determine the status of each order in the account. The viewable tracking process includes receipt, acceptance, scheduling, appointment set, inspection, quality control and possible addendums. Notations of any complications which may have arisen within the process are also visible.