LANSDALE, Pa., Jan. 4, 2018 -- Global DMS, a leading provider of cloud-based valuation management software, announced that it has integrated with Black Knight's LoanSphere Exchange platform, an online, collaborative technology that connects more than 25,000 mortgage industry service and solution providers.
This integration provides a gateway that helps support easy, secure lender access to Global DMS' comprehensive eTrac valuation management platform from their loan origination system (LOS), such as Black Knight's LoanSphere Empower and LoanSphere LendingSpace LOS, which are integrated with LoanSphere Exchange.
Global DMS' integration with LoanSphere Exchange enables lenders to order, check the status in real-time, review and upload completed appraisal files into the LOS. The bi-directional integration streamlines data exchange and facilitates ease of communication between the platforms. This eliminates the re-entry of data from initial ordering through review, thus reducing errors, ensuring compliance, cutting costs and dramatically speeding up the appraisal process.
Black Knight's Exchange technology provides integration, data management, decisioning support and workflow management to facilitate transactions between lenders and their service providers through a single, secure online platform.
"Through this integration, we significantly extend our reach to lenders that use Black Knight technology," said Vladimir Bien-Aime, president and CEO at Global DMS. "As a result of constantly changing legislation and higher origination costs, an increasing number of lenders are looking for an easy, cost-effective way to bring the appraisal function in-house. With Exchange, lenders essentially now have plug-and-play LOS integration to eTrac, which completely supports an in-house appraisal panel model, automates the entire valuation management process, and requires little-to-no IT resources to maintain."
"We are pleased to welcome Global DMS as one of Black Knight's Exchange integration partners in support of our commitment to reduce the time, cost and complexity to originate loans," said Tom Peterson, president, Lending Solutions division at Black Knight. "Mutual clients will be able to access a seamless integration to operate an in-house appraisal group on a national or regional level."
eTrac is a single-source valuation management platform that automates key aspects of the valuation process: vendor management, appraisal ordering, assigning orders, tracking status in real-time, handling accounting functions, appraisal delivery based on lender preferences, reviewing appraisals, and finally selling them via connectivity to the Uniform Collateral Data Portal (UCDP) and Electronic Appraisal Delivery portal.
eTrac's configurable workflow engine establishes a smooth, workflow-driven process that removes manual touchpoints. eTrac helps support lender compliance with changing state-based rules, federal laws, the Consumer Financial Protection Bureau (CFPB) and the Dodd-Frank Act.
About Global DMS:
Founded in 1999 and headquartered in Lansdale, Pennsylvania, Global DMS is a leading provider of commercial and residential real estate valuation solutions catering to lenders, servicers, AMCs, appraisers and other real estate entities. The company's solution set is cost effectively delivered on a software-as-a-service (SaaS) transactional basis that ensures compliance adherence, reduces costs, increases efficiencies and expedites the entire real estate appraisal process.
The company's solutions include its eTrac valuation management platform, eTrac WebForms, Global Kinex, AVMs, the MISMO Appraisal Review System (MARS), AMC State Regulations, ATOM (Appraisal Tracking on Mobile), and AMCmatch.com. For more information, visit the company's web site http://www.globaldms.com/ or call (877) 866-2747.