"Atlas LoanShield is structured to guarantee the accuracy and reliability of appraisal reports issued by Atlas VMS. If a defect in an Atlas appraisal triggers a buyback demand, the warranty is intended to shield lenders from related financial loss."
"The warranty is positioned as a tool to reduce repurchase exposure, increase lender confidence in collateral valuations and support additional compliance assurances, which can contribute to faster underwriting and loan closings."
"By standing behind the work we deliver with a true appraisal warranty, we're giving lenders added protection, greater confidence in valuation quality, and one less obstacle standing between them and a smooth, compliant closing."
Atlas VMS introduced Atlas LoanShield, an insurance-backed appraisal warranty aimed at protecting mortgage lenders from financial losses associated with appraisal defects. Loan repurchase risk is a significant concern for lenders, with appraisal-related issues accounting for over half of repurchase cases. The warranty guarantees the accuracy of appraisal reports and is available at no cost to participating lenders. It enhances lender confidence in collateral valuations and supports compliance, facilitating quicker underwriting and loan closings. The program addresses rising buyback concerns in the industry, particularly from government-sponsored enterprises and secondary market investors.
Read at www.housingwire.com
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