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reasonable prices, and of course, compliance is always covered. We’re happy to be providing these opportunities to our customers.” For more information, visit

ment marketplace with its industry-first Certificate of Compliance and TILATrigger technology, StreetLinks manually pre-underwrites every appraisal for compliance with lender guidelines. For more information, visit

StreetLinks expands its guarantee to include appraiser competency

Ellie Mae announces the addition of PHH Mortgage to Encompass 360 program

Fannie Mae’s announcement SEL-2010-09, June 30, 2010 specifies lender responsibility and liability regarding appraiser selection criteria, regardless if the selection is performed by a third-party appraisal management company (AMC). StreetLinks National Appraisal Services (StreetLinks) has always provided, on every appraisal at no additional cost, an exclusive “Warranty of Appraisal Quality,” which provides indemnification to lenders in the event of a verified appraisal related repurchase demand. StreetLinks’ revised “Warranty of Appraisal Quality & Appraiser Competency” provides comprehensive indemnification to lenders inclusive of Fannie Mae’s appraiser selection criteria mandates. “Now that Fannie has clarified that the liability for appraiser selection and competency rests solely on the lender’s shoulders, all lenders should give careful consideration to AMC models that prioritize transactional profit over geographic proximity and report quality,” explained Tony Ebeyer, StreetLinks chief operating officer. “Appraiser proximity, geo-competency and historical quality have always been the keystones to StreetLinks’ proprietary assignment methodology, IQ-Select—regardless of the impact on our margin.” StreetLinks has long been the industry leader in appraiser proximity, geocompetency and appraisal quality as evidenced by its approach to appraisers. StreetLinks has never mandated fees to its appraiser partners—appraisers set their own market fees. In addition, all assignments are processed through IQ-Select, which ranks appraisers on proximity, historical quality, historical service metrics and capacity. “Everything in the new Fannie Mae regulations has always been at the core of our business model which provides the highest quality appraisal reports in the industry. Lenders can be assured that our appraiser selection and assignment methodology, backed by our warranty, is compliant with Fannie’s requirements,” said Steve Haslam, StreetLinks chief executive officer. “Fannie has officially placed the burden on the lender for compliance with best-practice appraisal assignment. As such, lenders should carefully scrutinize the appraiser selection and assignment methodology used by their AMC or inhouse appraisal management solution.” StreetLinks provides appraisals nationwide that are fully compliant with Federal Housing Administration (FHA), the Home Valuation Code of Conduct (HVCC), Fannie Mae, Freddie Mac and all other current regulations. An innovator in the appraisal manage-

PHH Mortgage Corporation, a subsidiary of PHH Corporation, and Ellie Mae, the enterprise mortgage origination technology provider, have jointly announced that PHH Mortgage has been added as a lender to Ellie Mae’s Encompass360 Select program, which is exclusively accessed by preferred customers of Encompass360.



The Encompass360 Select program enables a unique and proactive two-way flow of communication between preferred Encompass customers and PHH Mortgage. After these customers submit loan information into Encompass360, that information is matched instantaneously against pre-determined PHH Mortgage loan criteria and the pricing for the loan is automatically presented on the customer’s Encompass360 screen. Customers that are pre-approved by PHH Mortgage can also upload loan applications into the PHH Mortgage Speedy Online Application and Response (S.O.A.R.) loan origination system, lock loans and check loan status in real-time. The program provides approved customers with seamless synchronization between all loan submissions to PHH


Mortgage and the loan conditions and data that are comprehensively stored in the customer’s Encompass360 system. “Our business partnership and integration with Ellie Mae’s Encompass360 loan origination system is one of the first its kind. It will help clients improve their service delivery to their customers, as well as allow them to help simplify the process of selling their loans in the secondary market,” said Mike Dirrane, executive vice president of sales for PHH Mortgage. “This relationship is only being offered to a group of preferred Encompass360 customers that have demonstrated their ability to write the quality of business that aligns with PHH Mortgage’s standards.” continued on page 42



are talking product. Naturally, REMN has FHA, VA and Conventional solutions to fit the needs valuable product is our people. The REMN Sales and Operations teams give you – and your loans – the time and attention you deserve. Even better, at REMN, same-day approvals are guaranteed.* You can rely on us to get the little, yet vital, things taken care of on time. It’s time to get to know our people.

* Same-day decisions guaranteed if file is received by 11 a.m. EST. Real Estate Mortgage Network, Inc. is located at 499 Thornall Street, Second Floor, Edison, NJ 08837. NMLS #6521. This information is for use by mortgage professionals only and should not be distributed to or used by consumers or third parties. Information is accurate as of date of printing and is subject to change without notice.


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Our product is our people.

of your customers. But, at REMN, our most 

These days, not many mortgage companies