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LendingQB Partners With Global DMS’ Valuation Management Platform

NationalMortgageProfessional.com
Jan 23, 2013

Global DMS has announced that it has integrated its valuation management software with LendingQB’s end-to-end, browser-based loan origination system (LOS). This integration is part of a major initiative to advance valuation compliance by tightly integrating the company’s eTrac platform with LOS vendors. As a result, the entire appraisal ordering and management process becomes seamless, efficient, cost effective and fully compliant with state and federal regulations. Without having to leave LendingQB’s LOS, lenders are now able to access Global DMS’ eTrac platform to handle all of their valuation needs, including automated valuations, ordering full appraisals, automated appraisal reviews, and delivery to the Uniform Collateral Data Portal (UCDP) and institutional investors. This new seamless interface establishes system-to-system transaction processing that dramatically speeds up the ordering and appraisal management process for lenders by eliminating duplicate data entry, providing real-time appraisal process status updates and robust communication functionality between lenders and their valuation vendors. “Our interface to Global DMS’ eTrac system utilizes a three-point integration to allow our clients to easily order and manage appraisals; check real-time order status; and receive completed appraisal files back into the LendingQB LOS E-Docs Platform,” said Binh Dang, president of LendingQB. “Most LOS platforms and valuation software systems don’t integrate seamlessly with one another, which makes it difficult for lenders and their appraisal management companies (AMCs) to share crucial data and communicate effectively.” Company officials say that this initiative is more than technology that connects lenders to valuation products, AMCs and appraisers; it’s an entire movement focused on loan quality that ensures stability of the mortgage system through sound collateral valuations. “Due to numerous new and changing government regulations, appraisal independence has obviously become a major concern for lenders to keep apace and avoid penalties,” said Vladimir Bien-Aime, chief executive officer at Global DMS. “Our solutions are proven to keep lenders in compliance, reduce costs, increase revenue, operate more efficiently and mitigate risk. Having trusted integration partners like LendingQB only provides more value for our mutual clients.”
Published
Jan 23, 2013
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