Global DMS, a provider of web-based compliant valuation management software, has launched Global Delivery™, an alternative to the traditional way appraisal documents are prepared, packaged, and compliantly provided to borrowers by way of printed appraisals sent via U.S. mail, according to a recent announcement from the company.
“What Global Delivery accomplishes is applying the greatest level of automation possible to alleviate an elderly task of yesteryear,” says Vladimir Bien-Aime, President and CEO of Global DMS. “There is still consumer demand in residential mortgage valuations to receive the fully packaged appraisal via the U.S. Postal Service, and of course, to receive it in full CFPB compliance. Global Delivery is a perfect blend of technology and service that automates the manual and cumbersome process of printing, folding and mailing appraisals to borrowers.”
According to Global DMS, the CFPB issued its Disclosure and Delivery Requirements for Copies of Appraisals and Other Written Valuations under the Equal Credit Opportunity Act (Regulation B) rule, and the copies of valuations may be delivered to the borrower either on paper or electronically. The announcement says that although some solutions handle electronic delivery of appraisals, Global Delivery sufficiently addresses the hard-copy delivery of appraisals or other valuations to the borrower via mail.
“Global Delivery can process appraisal documents and merge a pre-programmed, lender-branded cover letter that then delivers the hard copy to the borrower’s doorstep,” says the announcement. “Global Delivery automatically ships appraisals to lenders’ borrowers with one simple click. There is zero printing, folding and stamps involved for the lender.”