Lender Processing Services Inc. (LPS) announced that it has integrated its Loan Quality Gateway, Powered by RealEC with the Global DMS eTrac Enterprise platform. LPS and Global DMS clients that utilize the Loan Quality Gateway's Exchange network are now able to seamlessly access the eTrac Enterprise platform for efficient, compliant appraisal transaction processing. RealEC Technologies is the leading provider of collaborative network solutions for the mortgage industry and is a wholly owned subsidiary of LPS.
A part of LPS' comprehensive origination technology offering, Loan Quality Gateway's Exchange is an electronic partner network that enables thousands of service providers to connect securely and electronically to their lending clients through a standards-based data exchange. eTrac Enterprise is Global DMS' Web-based, all-in-one collateral process management solution that streamlines workflows, eliminates errors and speeds up the valuation process.
Global DMS' valuation management solution allows lenders to effortlessly manage the entire appraisal management process from vendor management to appraisal ordering, assignment, tracking, appraisal reviews, delivery and reporting. The eTrac Enterprise system also has options designed to handle all aspects of managing appraisal management companies (AMCs) and independent real estate appraisers.
"This integration offers lenders another efficient solution to managing the appraisal process," said Dan Sogorka, president, RealEC Technologies. "Expanding the Exchange's provider network is one more way we can help lenders and service providers work together toward a more transparent, data-centric loan origination process."
"The extensive network of partners that RealEC has connected to the Exchange has attracted some of the largest lenders in the country that want to complete various settlement services transactions from a centralized location, which the Exchange has proven to efficiently handle," said Vladimir Bien-Aime, president and CEO of Global DMS. "Now any mutual customer that utilizes the Exchange can easily access our services to complete fully compliant appraisals in the same way they could directly using our platform. It's simply another effective option to utilize our valuation management solution."
RealEC's integration with Global DMS expands the LPS Loan Quality Gateway provider network and product offerings, which include appraisals; automated valuation models (AVMs); title insurance; closing services; flood insurance; fee services; verifications of income, employment and identity; fraud prevention tools; loan quality analytics; and Valuation Insight, an appraisal evaluation tool that quickly identifies the overall quality of an appraisal.