Triserv manages appraisals for banks, credit unions, and residential mortgage lenders in all 50 states. We have the strength, reach, and appraiser panels of a national company combined with an intensely lender focused service model that provides a level of personalized, boutique services with customized elements.
While there are dozens of AMCs a lender can choose Triserv has taken great care to position itself for both the current compliance environment and the future of appraisal management. Read below to get acquainted with how Triserv provides differentiated value to mortgage lenders.
Triserv provides appraisers an environment of respect, appreciation and fair pay that goes above and beyond what most AMCs offer to appraisers. For lenders, this is an important element as it creates an environment of success for lenders when appraisers like working with an AMC. This positive relationship results in better turn-around time and quality on reports.
Triserv boasts some of the longest employee longevity in the industry with an average tenure of over 5 years. Coupled with low turnover and an intentional focus on carefully selecting and hiring full-time employees that know our industry and make a commitment to the long term, we provide a stable environment for our lender clients and enable them to develop strong relationships with the teams that serve them.
All mortgage companies need to have vendors that pass and adhere to the SSAE-16 or later audit requirements. On May 1, 2018, the SSAE-16 standard will be deprecated and replaced with the SSAE-18 standard from the AICPA. These attestations are a requirement for vendors in the financial services space and vendors that do not possess these attestations will not be compliant for the performance of appraisals or other settlement services for the majority of lenders.
Triserv has long held the SSAE-16 attestation and as of November 2017, actively holds the upcoming SSAE-18 attestation, becoming one of the first AMCs in the industry to adopt the audit standard ahead of schedule. This attestation performed by an independent third-party CPA firm assures the mortgage lender that we manage security and data risk at the highest standards and provides you key insight into our overall risk management process and financial security. It represents Triserv's commitment to compliance and the best-of-breed industry practices we strive to adhere to.
Triserv is at the forefront of legal and regulatory issues due to our investments in compliance, best practices and legal resources to monitor and adapt to AMC regulations. In addition to state level rules, there are compliance and best practices standards for CFPB, AIR, and Dodd-Frank that need to be constantly monitored and adhered to. In addition to our internal resources, Triserv has retained a top-tier legal firm that has core expertise in these matters and monitors these changes on a monthly basis. This outside legal resource helps ensure that we are compliant at all times with all necessary changes.
Triserv features a manual and automated review process staffed by experts in the appraisal field. In addition to performing a manual review of each appraisal’s quality, we also provide a Collateral Underwriter Risk Score preview, full UCDP/EAD submission and review, and have available 3rd party tools to score appraisal quality control metrics.
Our clients can also opt to have the VEROSCORE™ appraisal QC tool added to their services for additional insight into Compliance, Credibility and Risk factors on the appraisal.
Unlike many AMCs, Triserv built and maintains its own proprietary technology platform and portal complete with custom integrations with leading LOS systems. In addition to seamless integrations with Ellie Mae’s Encompass, LendingQB, Calyx Point and RealEC based LOS systems, Triserv also features full integrations with leading appraisal middleware providers such as Mercury, UPF Services, FNC, AppraisalScope, and Lender X.
Triserv can integrate your appraisal process and make a seamless workflow and notification process for your team, minimizing or eliminating the need to interact with our website and automating the process of ordering, status updates, and delivered appraisal documents inside your loan file. Our technology platform, TAMS™, also provides us the ability to quickly create solutions for clients without reliance on 3rd party companies.