One of the newest internet-based technologies, cloud computing, makes mortgage origination and servicing easier to update, more efficient and less expensive than in the past. Users have a choice of computer platforms and applications, but they do not need to host the processing themselves. Both software and processing is deployed remotely via the Internet through a network of secure servers. Some of the advantages of cloud computing for the mortgage industry include:
- No technical know-how is needed and there's no need for time-consuming, costly technology upgrades, implementations or maintenance
- Cloud computing poses no financial barriers since billing can either be by subscription or usage — and it can be implemented quickly
- Services can be accessed anytime, anywhere via computer, PDA, smart phone or tablet PC such as the iPad
- Any of your collaborators with Internet access can share information — although proprietary data is segregated and secured. You define sharing permissions
- You can continuously expand or contract usage of allocated services, generally without a pricing penalty
Global DMS clients have seen an average increase of 25% in productivity and an 85% decline in technical support for their valuation processes since implementing Global DMS's cloud-based applications. All services offered by Global DMS are cloud-based, including our appraisal management platforms, Web-based valuation forms and automated review technologies. What's more, we can tie your existing system into the platform in just one day.
Learn more about cloud computing and mortgage software.