Abstract
The appraisal of real estate, which includes the order, delivery, and review of the appraisal report, is an integral part of mortgage lending, and unquestionably the most time-consuming component of the lending process. Electronic transmission of the appraisal request and the appraisal report itself greatly expedites this portion of the mortgage lending process while eliminating redundant data entry and errors, and improving efficiency and customer service. Although electronic data transfer has existed for more than 20 years, the mortgage lending and appraisal industries have been late to join the movement.
