Global DMS [1]and OpenClose [2] together announced an integration that allows users of OpenClose’s LenderAssist loan origination system to access Global DMS’ eTrac [3] valuation management platform within the LenderAssist [4] system.
OpenClose, a mortgage software solutions provider, and Global DMS, a provider of compliant valuation management solutions, both offer web-based solutions on a software-as-a-service (SaaS) basis, making them more nimble and easy for companies to adopt.
Lenders who use OpenClose’s LenderAssist can now order appraisals, receive completed appraisal files, check real-time status, and submit appraisals to the Uniform Data Portal or Electronic Appraisal Delivery portal without leaving LenderAssist.
The result is a more compliant, cost-effective solution that eliminates manual touch points and human error.
“This completely streamlines data exchange and communication between the two platforms and speeds up the entire process,” Global DMS and OpenClose said in their announcement of the integration.
Many appraisal management companies already use Global DMS’ eTrac platform. The integration will make it easier for those appraisal companies to work directly with lenders using OpenClose’s LenderAssist.
“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.”
OpenClose CEO and CTO Jason Regalbuto said his company is “very discerning when selecting new technology vendors to integrate with,” adding that, “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.”