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Featured news — posted November 30, 2004
Pruning our industry-leading support to make it better, more efficient

If you've called our technical support lines in the last few weeks you may have encountered longer wait times on the phone and it may have taken longer to diagnose and solve your problem. As frustrating as this is to you, it was equally frustrating to us. That's why we've taken bold steps to improve our level of support service, and our callers are already seeing the benefits.

Of course, keep in mind what your colleagues who don't use WinTOTAL have to go through to get "customer support." When they call for help, they get a machine and are asked to leave a callback number. Sometimes, they get a callback when they're available to work on the problem (no appraiser, especially as busy as it's been, sits around waiting for the call). Sometimes, they don't. In the meantime, their productivity suffers. Or worse, they're out of business altogether — at least temporarily.

A couple years ago we installed a new phone system that made it possible to take tech calls more quickly and resolve issues faster. It's "low to the ground" issues like that — not spiffy features, slick interfaces, Net.X backends, or the like — that directly differentiates us from other (dwindling) options for formfilling and order management software and technology.

When wait times and time from call to resolution became so unacceptable to us that we were no longer proud of our tech support, we did something about it. We made significant leadership and staff changes, number one. This, unfortunately, made the problem worse in the short run as we reassigned our best techs and trained new ones. But that's mostly out of the way, and the result is more qualified support personnel trained to deal with your specific problem right now.

We've also, for the first time, trained our techs to specialize in certain product lines. Previously, our techs were trained in everything we developed and sold. As we branch out into new products and markets, we needed to specialize so that techs could deliver better, more expert service.

This shift in focus has accomplished a couple important things. Training time for new techs will be shorter, since they won't have to "learn everything" right away but rather their particular area of expertise. We're hiring more techs, not just shuffling around our best ones, and we're seeing this already. You will too, next time you call.

Techs will know what to expect from the next call. They won't have to spend time helping an appraiser with an EDI problem, and then take the next call from an agent needing help setting up their XSite. Techs will be trained as experts in one product line, and then that training and expertise will be naturally reinforced and built upon as he or she works in that area.

Finally, if for some reason one of our product lines is taking a disproportionate number of calls, it won't bog everyone down. That is, if Mortgage XSites is originating a high volume of tech calls, you as an appraiser are less likely to be affected when you're trying to get your comps database back online after a computer crash.

Forget the fact that even with our recent issues we still have the industry's best tech support. We don't measure ourselves by that, we measure how well we serve our customers. In fact, even though the company was closed Friday for the Thanksgiving holiday, some of our tech department came in to catch up on some outstanding issues to help our customers.

We hadn't been serving the customers who have called us for help as well as we could and should, so we took a number of steps to improve. You'll see the results immediately and see even more improvement in the coming weeks.


Property Presentation Wizard a hit with FSBOs — and maybe lender clients, too

Appraisers are going to want and need to market their services beyond standard lender clients, to customers like FSBOs — especially as interest rates continue to rise. A new integration between WinTOTAL and your Enterprise level XSite is one way to expand your market.

Our thrust recently has been to seamlessly integrate your XSite with WinTOTAL, both the Athena version you're using now and the new Aurora generation, due out this winter. Among the most popular and interesting integrations we've been able to program and put out is our Property Presentation Wizard. Enterprise level XSite owners can take advantage of this feature to market their services to owners selling their homes themselves — FSBOs.

We've been saying that your XSite is the "hub" of your business, and this is a prime example. It's more than just storing data and contacts — with this feature, the XSite is processing information and creating custom content on the site for you, based on something that you've done in WinTOTAL. It's a value added that sets you apart from your competition — appraiser, AVM or otherwise. This is how it works:

You sell your services to a FSBO client — so that the FSBO can show his potential homebuyers that his asking price is valid ("Don't believe me? here's what it appraised for").

You conduct a standard appraisal and create a standard URAR report in WinTOTAL. From there, you run the "Property Presentation Wizard" that asks the questions needed to create an online property presentation such as you might find on the best real estate agent websites (like our Agent XSites).

Once the wizard is complete, the FSBO client receives an e-mail from you, stating that an online summary of the appraisal report is ready for his approval, and provides a link to view the online report summary. The FSBO checks the online summary, and clicks an approval link to publish. By doing so, he clicks through an End User License Agreement (EULA) that states that he/she grants permission for the information to be made public (which is required by USPAP).

Finally, the summary is "published" to your XSite. The FSBO can give the URL to anybody he/she desires, so they can see the summary. This summary looks just what you might see on one of our Agent XSites, except it's just a summary of the property as compiled from your appraisal report in WinTOTAL, instead of from an MLS listing. The URL isn't available via the home page of the site; it's a private address that only the homeowner can distribute.

Want to see a sample? (Sure you do!) Click here.

What's even cooler is that we've heard from some appraisers that this feature is not just beneficial to FSBOs. Lender clients have also stated that they would use the feature. Possibly for REOs, but just as likely FSBOs who come to a mortgage broker first for help with buying the new home or a bridge loan.

It's really a new case of integration of XSites and WinTOTAL, where both products are needed in order for the feature to work and get the full benefit. And we'll be doing a lot more of things like this in the future.


Digital signature capability spurs interest at technology conference

Our new digital signature capability was well received November 8-9 at the E-Records and E-Signatures: Emerging Technology and Business Applications in Financial Services conference held in Washington D.C. The conference, sponsored by the Electronic Financial Services Council and Glasser LegalWorks, focused on the latest developments in electronic signatures and records.

Our counsel, Jennifer Sides, discussed our digital signature technology in a panel session entitled, "Which Signature Technology is Right for Your Company?" along with representatives from Wells Fargo and Principal Financial Group.

Launched at the Mortgage Bankers Association annual conference in October, Sides explained that our legally-binding and standards-compliant digital-signing capability uses Wave System’s eSign Transaction Management Suite (eTMS), allowing XSites users to manage business processes and transactions entirely online — without the need for ink signatures.

"Our digital signature system creates, authenticates, signs, stores, and provides ongoing access and lifecycle management of digitally signed documents such as Mortgage 1003s and purchase contracts," Sides told the audience.

Further, unlike many of our competitors, our e-signature platform uses a Public Key Infrastructure (PKI) system, which seals the transaction in the most secure way available today. The PKI system integrates digital certificates, public-key cryptography, and certificate authorities into a total, network security architecture. A typical PKI includes the issuance of digital certificates to individual users and servers; end-user enrollment software; integration with corporate certificate directories; tools for managing, renewing, and revoking certificates; and related services and support.

We were the only company at the conference providing such technology, normally reserved for the largest IT departments at the largest banks, to mass markets. But we think of it as just another service that will help our customers run their businesses more efficiently. We've led the market in EDI, Web-based order/management/report production, and marketing tools, among other things. We're doing the same thing by getting digital signing capability in the hands of small businesses and sole proprietorships.

As Sides puts it: "In keeping with a la mode’s business objective of providing our customers (mortgage brokers, appraisers, agents and home inspectors) value-added services consisting of best of breed technologies, E-signatures was at the top of the list to maintain our commitment to lead, not follow, as it relates to emerging technologies."

  
News briefs
Fannie form comment period closing fast
Fannie Mae is requesting appraisers' comments to their proposed new appraisal forms by December 15 by writing to
test_appraisal_forms
@fanniemae.com
. See the links to PDFs of each new form (Adobe Acrobat Reader version 6.0 may be necessary for viewing some) in our story in our last edition.

XSite holiday themes coming
So many of you have requested holiday themes for your Appraiser XSites, and we aim to please, so check your XSite admin area later this week. We're going to stick a holiday theme or two under your tree, if you want to use one.

Seattle company plans nationwide appraisal management in 2005
American Reporting Company (ARC) said it added Appraisal Services to its existing 18 year-old Credit Reporting company on November 15. The effort is headed up by recently appointed Sue Potteiger, formerly Senior Vice President and Chief Appraiser of Washington Mutual. "The addition of this new service will add convenience," Potteiger said.

Joining Potteiger is Duane Peterson, a 20-year veteran in the business, most recently National Production Manager at Washington Mutual. Appraisal management services will roll out first in the Seattle area with planned exponential growth nationwide in 2005, the company said.

Congress wants to know how technology helps mortgage, homebuying
House Financial Services Committee Chairman Michael Oxley, R-Oh., initiated a Government Accountability Office (GAO) study into the effect of new forms of technology and electronic commerce on the homebuying process.

"I am seeking a better understanding of how information technology is being used and applied in various components of residential real estate transactions," Oxley wrote November 4. He instructed the GAO to concentrate its research on how the residential real estate transaction is evolving as a result of electronic commerce, any barriers to greater use electronic commerce in residential real estate transactions, how removal of those barriers could benefit both consumers and real estate professionals, and how those changes may affect homeownership.

Oxley's letter indicated a particular interest in the nature and regulation of MLSs, and REALTOR.com's® role in the Internet display of MLS information.

Existing home sales continue to defy expectations
Sales of existing single family homes were a seasonally adjusted annual rate of 6.75 million in October, nearly even with September’s pace, and the fourth highest monthly pace on record. Low mortgage rates are boosting housing sales in the short term. Population and income gains will drive sales in the long term, economists predicted.

Among regions, only the South posted a sales gain in October, however, as the national number likely reflects a catch-up after hurricane-depressed September activity, Wachovia Securities reported. Sales rose 3.7 percent in the region to a level 7.7 percent higher than sales in October of last year. The South includes the area from Maryland and Delaware, down around the Atlantic Coast and across the Southern states to Texas. The nation’s housing markets are increasingly tied to the region, with more than forty percent of existing home sales nationwide closing in the South.

Sales in the Northeast fell 1.3 percent last month, while sales fell 2.8 percent in the Midwest and 3.6 percent in the West.

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e-Newsletter archives


e-Newsletter 11/10/04
Round of 11 new Fannie test forms introduced

e-Newsletter 10/27/04
Mercury Desktop replaced by XSite Order Manager plus Standard XSite

e-Newsletter 10/12/04
We've done the marketing heavy lifting

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