Last week, GlobalDMS sponsored an informative webinar titled, “MORE THAN PREVENTING FINES AND FEES: Using Technology to Maintain Valuation Compliance.”  During this webinar, five industry thought leaders weighed in their experiences and expertise to provide insight for listeners so they could be better prepared to move forward through 2013 in what has become a tough regulatory environment.

The Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) have teamed up to begin working on the new National Mortgage Database—the industry’s first ever comprehensive repository of detailed mortgage loan information. The two agencies will use this new database to help support policymaking, research efforts, and to better understand emerging trends in the mortgage and housing markets.

Thanks to government regulations undergoing constant change, remaining in compliance has become a huge concern for every lender in the mortgage industry. As a result, many vendors in the mortgage industry—like GlobalDMS—have recognized that they can serve their lending community better by integrating best-of-breed solutions with one-another to further ensure compliance, maximize efficiency, and reduce costs.

GlobalDMS has updated its client order forms, and the Truth in Lending Act (TILA) date can now be configured as a required field. The TILA date is also now configurable specifically at the client level so companies can now choose which specific clients are required to supply TILA dates.

The new eTrac Work Flow application will provide eTrac users with the ability to map appraisal order status changes with an action of their choosing. This enhancement will also allow eTrac users to auto-assign an engager to an order when an order is in a pre-defined status. GlobalDMS has implemented more than a dozen actions, and eTrac users can now build Work Flow Items around any standard or custom statuses that they have created.

The Mortgage Industry Standards Maintenance Organization (MISMO) recently created a new workgroup to develop a universal loan document identification protocol that will be based on loan-specific data, and will enable any entity across the lending process to use a common formula to create or recreate the unique identifier.

Computers have completely revolutionized the way the world works, and every business now-a-days relies on these powerful machines to help run their daily operations at a high-level. However, this doesn’t mean that all business professionals are the most tech-savvy, and many of them run into problems that could have been avoided—viruses, lost data, lack of speed, etc. To help you avoid these issues and maximize your computer’s fuctionality, the GlobalDMS blog offers the following advice:

MISMO—or the Mortgage Industry Standards Maintenance Organization—is a not-for-profit subsidiary of the Mortgage Bankers Association, and is a developer of technology standards for both residential and commercial property transactions within the United States. MISMO was tasked with improving data consistency within the mortgage industry, and the organization’s goals are to reduce costs, increase transparency, and promote confidence in mortgages for investors.

For those of you that are frequent flyers, the advent of internet access on an aircraft is probably not a new concept that you’re unaware of; just one that you may be quite irritated with. Loss of internet connectivity or flying in aircrafts that lack internet capabilities all together seem to be the frequent problems that many individuals encounter 30,000 feet in the air, but hope seems to be coming for the ever-traveling businessman or woman.

GlobalDMS was listed as one of this year’s “Top 50 Service Providers” in the residential mortgage industry by Mortgage Technology Magazine. Every year, Mortgage Technology Magazine selects and lists the residential mortgage industry’s top 50 service providers, and this is the 4th consecutive year that GlobalDMS has been selected.