In a statement released Thursday, ""Global DMS"":http://globaldms.com/, the parent company of Global Kinex, announced that the Uniform Collateral Data Portal (UCPD) would now offer its appraisal process management software to lenders and a number of appraisal management companies ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô a step up for the appraisal tech company.[IMAGE]
By uploading the software to the UCDP, an application system designed for the delivery of appraisals to ""Fannie Mae"":http://www.freddiemac.com/ and ""Freddie Mac"":http://www.freddiemac.com/, ""Global DMS"":http://globaldms.com/ will provide the mortgage giants with appraisal data needed for conventional loans. An automated review by the GSEs will screen for discrepancies such as missing appraisal values, suspended licenses, unknown home addresses, and more, according to the statement.[COLUMN_BREAK]
""Standardizing data to the new MISMO XML 2.6 GSE format will have a very positive impact on the industry, because it increases transparency, reduces subjectivity, and allows data to be accessed, analyzed and utilized much more easily,"" said Vladimir Bien-Aime, CEO of ""Global DMS"":http://globaldms.com/. ""It's critical that lenders and AMCs become familiar with the new format so there's no difficulty transitioning when it's mandated.""
According to the statement, ""Global DMS"":http://globaldms.com/ will price introductory appraisal files for new customers at a dollar. For clients currently using the company's other software, such as eTrac Enterprise Edition and Oasis valuation platforms, ""Global DMS"":http://globaldms.com/ would throw out costs entirely.
Adds Bien-Aime: ""Without a technology like Global Kinex, lenders will be spending up to 5-15 minutes to deliver appraisals, plus there's a maximum upload limit of 10 files at a time. We're offering special pricing to help lenders, appraisers, and AMCs get started down the right path.
""Cost should never be a barrier to tools that increase safety and compliance,"" the CEO said.
According to its Web site, ""Global DMS"":http://globaldms.com/ provides mortgage lenders, brokers, appraisers, and appraisal management companies with real estate appraisal software and collateral management technologies.