Global DMS announced that it launched AMCmatch.com, a search engine that allows lenders, servicers and other users of valuation products to efficiently locate and qualify the best fit appraisal management company (AMC) for their needs.
“All too often, organizations select AMCs that fail to produce quality appraisals, operate out of compliance, are financially unstable, aren’t licensed in the states they do business in, and may have payment issues with appraisers, among other concerns,” stated Vladimir Bien-Aime, president and CEO of Global DMS. “AMCmatch.com remedies these problems by providing a Web portal that utilizes our enterprise-class appraisal management technology to list well-profiled, qualified AMCs that aid lending organizations in their due diligence and selection process for new AMCs.”
Approved AMCs that are listed on the site are able to facilitate online ordering, automated collateral reviews, high volume production, superior customer service and direct integration to the GSEs’ Uniform Collateral Data Portal (UCDP). Lending entities benefit by being able to visit the site and enter in specific search criteria to locate established, reputable AMCs that have a proven track record of compliantly delivering quality appraisals. Users of the site can sign up for free without contracts and any additional fees.
The data that resides in AMCmatch.com’s search engine includes AMC type, years in business, location, area coverage, licensing, and payment acceptance types. All information and current state licensing is continually verified by Global DMS to ensure that all matches are current, correct and simple to access, thus enabling AMCmatch.com to return accurate information and create a first-rate user experience.
AMCmatch.com makes it easy for users to quickly locate the right AMC for their specific needs without extensive research and verification. As a result, the time invested in the due diligence process in order to properly vet AMCs is slashed, making it painless, ensuring the accuracy of information, and allowing lenders to focus on production—and AMCs to focus on collateral.
Bien-Aime added: “Doing business with the wrong AMC can result in tens of thousands of dollars in fines, risk investor kick backs, taint relationships with appraisers and leave lenders with unjust financial responsibilities. Per the Dodd-Frank Act, issues with appraisals almost always come back to the lender whether it is their fault or not. That’s why it’s so important to choose the right AMCs to do business with—the first time.”