Nationwide Appraisal Network (NAN) has announced that it has formed NAN Software in order to launch its flagship product AppraisalQPM, a cloud-based application designed to reduce cycle times, operating costs and risk associated with the appraisal order and review processes. In addition, the application will provide the data and analytics to manage performance and communication amongst all parties. The product has attracted Jim Cutillo, founder and managing partner of Next Level LLC, a private equity and strategic advisory firm as an investor.
“It’s not often that you see disruptive technology in its early stages, before it can potentially transform an industry, but when you do, it is impossible to not get involved,” said Cutillo, founder and former CEO of Stonegate Mortgage. “Cari Burris and Joni Pilgrim have built a great business, and I am looking forward to working with them to build an industry leading software application and expand NAN’s appraisal management business.”
NAN started developing AppraisalQPM when company founders Burris and Pilgrim identified a gap that currently exists in the industry for an integrated platform that connects all the players in the appraisal process, provides transparency, control and increased certainty while reducing operating cost and risk.
“Nothing is more exciting than driving cutting-edge technology initiatives,” said Pilgrim. “We have combined data, analytics and process with industry knowledge and technology to deliver a solution that enables our clients make better data driven decisions. We are excited to start our partnership with Jim, his wealth of industry knowledge is unparalleled and combines effectively with NAN’s commitment to move the appraisal process light years ahead.”
Burris said, “We have created a platform that is so intuitive and predictive, that any user can log in to the cloud and start using it right away with little to no training at all. Not only will we provide the platform to place and manage appraisal orders, review appraisals and track performance from end to end, but we developed a way to leverage the data and advanced analytics to allow appraisers, originators, lenders and investors the ability to drive operational and financial performance improvements in a compliant manner.”