Global DMS said its valuation management software has been integrated with DataQuick’s collateral validation analytics solution.
The purpose of this integration is to solidify accurate valuations by utilizing in-depth area-based metrics, trending and other factors that are not typically taken into account when underwriting loans.
DataQuick’s collateral valuation solution automates the property value validation process by decreasing the number of manual reviews that are done. Therefore, the ability to enhance the confirmation of property valuations by ensuring that specific values fall within acceptable ranges saves time and money as well as reduces risk.
San Diego-based DataQuick says the product is a “key win” for mortgage originators, servicers and investors.
According to DataQuick, the valuation is based on an “expert panel” that includes intelligence from multiple listing service data, industry-leading automated valuation models, neighborhood level house price indexes, inventory and sales trends metrics, foreclosure data, and other various housing analytics.
Once the results of the data are compiled, they are incorporated into Lansdale, Pa.-based Global DMS’ valuation determination, thus
The Global DMS valuation management eTrac Enterprise platform allows organizations to cost effectively manage the entire appraisal management process from vendor management to appraisal ordering, assignment, tracking, reviews, delivery and reporting.
“As the uses for property data expand from origination to servicing, lenders and servicers are leveraging a greater number of tools to validate collateral,” said Vladimir Bien-Aime, president and CEO of Global DMS.
“Incorporating DataQuick’s solution into our valuations offering such as automated review products and hybrid valuations that combine manual appraisal know-how and data analytics allows us to provide unique solutions that are immediately available to our customer base.”
