San Jose, CA – April 4th, 2016 – Bradford Technologies, a provider of appraisal technology solutions, announces that it has received an Innovations Award from Progress in Lending Association for Redstone®, which the company introduced in 2015. The honor was presented at an April 3rd award ceremony that marked the opening of the Mortgage Bankers Association's National Technology conference in Los Angeles, California.
Redstone was developed by Bradford Technologies to help real estate appraisers support their appraisal reports to lenders and the government-sponsored enterprises (GSEs).
The Progress in Lending Association Innovations Awards recognize solutions that were introduced into the mortgage industry during 2015 that changed the industry for the better. Nominations were scored on a weighted scale based on the innovation's overall industry significance, originality, positive change, hard cost, time savings and intangible efficiencies.
"We are delighted to receive this award from the Progress in Lending Association, which plays a significant role in promoting mortgage industry innovation," said Jeff Bradford, president of Bradford Technologies. "This recognition is an acknowledgment of the importance Redstone plays in helping appraisers provide more detail and analytical support in their appraisal reports."
Lenders today are demanding greater transparency and repeatable results from appraisers, Bradford explained. "Redstone has been particularly useful in helping appraisers add statistical support to their appraisals and better defend their value conclusions," he said. That's become increasingly importance since Fannie released its automated risk assessment tool, Collateral Underwriter™ in January 2015. Redstone is designed to analyze market data in much the same way that Fannie Mae's Collateral Underwriter analyzes data, giving appraisers the needed tools to select appropriate comparables and provide the statistical support needed to defend their appraisals if challenged or flagged by Fannie Mae.
About the Progress in Lending Association™
Progress is defined as "a forward or onward movement" and "gradual betterment." No industry, lending or otherwise, can exist and/or thrive without continued progress. The PROGRESS in Lending Association was formed to provide thought leadership to lending professionals about how to create process efficiencies through a combination of sound business strategies and technology. The ideas that come out of this association will help lenders provide a more trusted and transparent process for both consumers and investors leading to a better overall experience for all parties involved. Learn more at progressinlending.com.
San Jose, CA – March 22, 2016 – Bradford Technologies, the leader in Computer-Aided Appraisal Technology has been named to the top 100 most innovative technology companies for 2016 by HousingWire Magazine. This annual list of the HW Tech100™ named the most innovative companies across the entire housing economy.
"It's incredible to see the universe of tech options now available to our industry," said HousingWire Magazine Editor Sarah Wheeler. "Some of the best and brightest minds are clearly working in our space to address the extraordinary challenges our industry is facing."
All of us at Bradford Technologies are thrilled to be recognized by HousingWire for the third consecutive year for the advancements that we're making in the area of Computer-Aided Appraisal technology and specifically with our new Redstone® software. "Mortgage is progressing to an all-digital process and the data analysis performed by appraisers is critical to the system. By enabling them to gather, process and present vast amounts of market data in a rapid and efficient manner, they are not only producing the valuations desired by lenders, but doing so profitably." said Bradford Technologies CEO Jeff Bradford.
About the HW TECH100™
HousingWire is the nation's most influential industry news source covering the U.S. housing economy, spanning residential mortgage lending, servicing, investments and real estate operations. The company's news, commentary, magazine content, industry directories, and events give more than one million industry professionals each year the insight they need to make better, more informed business decisions. Winner of numerous awards, including a 2012 Eddie Award for national editorial excellence in the B2B Banking/Business/Finance category, HousingWire has been recognized for excellence in journalism by the Society of Business Editors and Writers, the American Society of Business Press Editors, the National Association of Real Estate Editors, and Trade Association Business Publications International. Learn more at www.housingwire.com.
San Jose, CA – January 27, 2016 – Bradford Technologies, a provider of appraisal technology solutions, has completed an integration with FHA's Electronic Appraisal Delivery (EAD) portal and the implementation of new appraisal-sharing enhancements for UCDP. Bradford Technologies' clients using PortalDirect can now submit appraisals from a single platform to either EAD or UCDP in addition to allowing correspondent lenders to easily share appraisal information with their aggregators within UCDP.
"By consolidating the EAD and UCDP portal access into one unified platform, our clients will realize a significant reduction in integration and on-going maintenance costs plus higher reliability and stronger performance when submitting appraisals" said Jeff Bradford, CEO of Bradford Technologies.
Bradford Technologies is one of the first companies to complete the EAD integration and the first to implement the new appraisal-sharing feature in UCDP. FHA has stated it will require appraisals to be submitted through EAD portal starting June 27, 2016. The appraisal-sharing feature in UCDP takes effect February 7, 2016.
PortalDirect allows its users to take advantage of the new appraisal-sharing functionality. To make use of this feature, aggregators must set up their "Aggregator profile" within the UCDP web portal. For a DI solution, lender administrators at aggregator companies should ensure their UCDP web login credentials are active in advance of the February 7th release to perform the required set up.
PortalDirect has been completely redesigned from the ground up with the latest technology and this new platform offers unequaled simplicity of integration. As a result, Bradford Technologies has waived all traditional integration and support fees.
Bradford Technology customers, appraisal management companies and appraisal management system providers who wish to find out more about PortalDirect, Bradford Technologies' new unified portal platform, may contact Keith Mullen, Operations Manager at (800) 622-8727 ext. 102 or PortalDirect@BradfordSoftware.com.