Announcing the 2024 Tech Trendsetters winners.

Read Now
Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
721,576-14142
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.95%0.01
MortgageSponsored

2015 Trailblazers: Global DMS

Centralizing all aspects of the appraisal process

Dec 01, 2015 12:00 am  By
AppraisalsDigitalGlobal DMS
Trailblazers

Sponsored3

Global name1

While 2015 saw many companies scramble to comply with TRID and other regulatory measures, the biggest challenge for the industry in 2016 is likely to involve origination volume.

Rising interest rates and decreasing refinance activity will constrict lending opportunities in the next year, driving lenders to form strategic partnerships with vendors that can deliver automated, all-in-one solutions.

This will be especially important in the valuation space, as appraisals continue to attract significant regulatory attention. Any innovations that companies develop can’t come at the expense of compliance.

“We believe that mortgage servicing is highly underserved in the valuation technology area,” said Vladimir Bien-Aime, president and CEO of Global DMS.

“Global DMS provides tools that empower our clients to be self-reliant and more efficient.”

Global DMS has developed an appraisal work-flow engine — eTrac Enterprise — that gives users a single-source valuation management platform to centralize all aspects of the appraisal process. This work-flow engine eliminates the need for manual intervention within specified processes because all of the steps and notifications are automated.

That automation is comprehensive, covering vendor management, orders, assignments, tracking, accounting, delivery, reviews and sells. At each step, lenders, AMCs and appraisers save time and money while remaining compliant. And the web-based platform means users can easily and securely access the system at any time.

Global DMS facts“The most important thing we do for our customers is help them manage the complexities of appraisal management compliance — regardless of whether they use AMCs or their own panel,” Bien-Aime said. “This is primarily addressed through our eTrac workflow engine that addresses customer-specific needs and requirements, coupled with our real-time report builder that allows them to develop their own reports and schedule them for delivery.”

eTrac Web Forms enable appraisers to produce appraisal reports online from anywhere, and includes access to the most recent 20 appraisal reports, template/clone support, photo page support, scanned document support, additional map pages and digital signature management.

With eTrac, appraisers can import appraisal forms from all major forms vendors and deliver completed appraisals through email.

“Lenders want to optimize their review process and having web-based forms productions software can really bring consistency to both their internal and external review process,” Bien-Aime said.

The eTrac appraisal management platform is only one part of the company’s state-of-the-art software offering.

Global DMS also offers a MISMO Appraisal Review System (MARS), a seamless integration with the UCDP through Global Kinex, AVMs and data analytics, and a BPO Production Platform that supports broker price opinions and inspection reports.

“Our goal is to gain a competitive foothold in this market by offering our unique platform for developing web-based forms for brokers to create BPOs,” Bien-Aime said.

“Customers that opt to utilize our offering can greatly improve efficiency and save costs.”

The projected changes in origination volume next year will require companies throughout the mortgage industry to develop new processes and strategies to adapt. Global DMS is more than ready.

“2016 is going to be a year of new beginnings for us in many ways!” Bien-Aime said. “We believe that the rising interest rates will acutely decrease origination volume for the new market, resulting in decreased transaction revenue for many companies.

“To ensure consistent revenue volumes at Global DMS, our company will meet these challenges by diversifying our clientele and specific markets in which we sell technology — basically targeting market segments we have traditionally not specialized in,” Bien-Aime said.

Global DMS quote

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please