WEST PALM BEACH, Fla., Feb. 7, 2017 – Global DMS, a leading provider of cloud-based compliant valuation management solutions, and OpenClose, a comprehensive mortgage software solutions provider, jointly announced that they 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 completely 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.”
There are numerous appraisal management companies (AMC) that already leverage Global DMS’ eTrac platform to support their lender customers. Those lenders can now work with their AMCs via OpenClose’s LOS. Or, lenders that manage their appraisal panel in-house can use the direct system-to-stem integration to fully automate their unique processes.
Global DMS and OpenClose both have web-based platforms and provide them on a software-as-a-service (SaaS) basis along with the flexibility to easily configure the solutions to meet their customers’ specific requirements. As a result, implementations are quicker, easier and more cost effective.
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 product line-up includes its eTrac® valuation management platform, eTrac Web Forms, Global Kinex, AVMs and data analytics products, BPO management platform, the MISMO Appraisal Review System (MARS), ATOM (Appraisal Tracking On Mobile) and AMCmatch.com. For more information, visit the company’s website at www.globaldms.com or call (877) 866-2747.
Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose is a leading multi-channel mortgage software solution provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent browser-based solutions for lenders, banks and credit unions. OpenClose’s core solution, its LenderAssist™ LOS, is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creates a truly seamless workflow for comprehensive automation and compliance adherence. For more information, visit www.openclose.com or call (561) 655-6418.