has announced that the two companies have completed a seamless, bi-directional interface between Global DMS’ eTrac Enterprise valuation management platform and OpenClose’s LenderAssist loan origination system (LOS). The new integration eliminates manual touch points, reduces costs and ensures appraisal compliance.
“Directly from within OpenClose’s LenderAssist LOS, this integration allows users to tap key functionality in our eTrac Enterprise platform,” said Vladimir Bien-Aime, president and CEO of Global DMS. “Unlike appraisal ordering systems that just place orders, Global DMS has a completely workflow-driven, robust valuation management platform that automates all of the intricacies involved in the appraisal process from start to finish, which OpenClose customers can now leverage in a seamless fashion.”
Using the integration, lenders are able to efficiently order appraisals, check real-time status, receive appraisal files back into OpenClose’s LOS, and compliantly submit them to the Uniform Collateral Data Portal (UCDP) or Electronic Appraisal Delivery (EAD) portal. This streamlines data exchange and communication between the two platforms and speeds up the entire process. Global DMS provides OpenClose customers with detailed reports for audit tracking and visibility over their appraisal processes.
"We want our customers to benefit greatly from the integrations we establish, so we are very discerning when selecting new technology vendors to integrate with,” said Jason Regalbuto, CEO and CTO of OpenClose. “Global DMS’ solution is one of the leading single-source valuation management platforms in the mortgage industry and we are extremely pleased to have them as a new integration partner.”