California's Platinum Data Solutions [1] and Pennsylvania's Global DMS [2] have come together to create a faster and easier way for valuation professionals to access appraisal quality and compliance analytics.
In a joint release, the two valuation solutions firms announced the integration of Platinum's RealView appraisal quality software into Global DMS' eTrac appraisal management platform, granting users the ability to more efficiently manage the valuation process and analyze all appraisals for all of the different factors that can compromise quality.
Together, the companies say the solutions offer mutual clients more options to ensure quality and prevent potential errors and buybacks.
"The combination of these two best-of-breed solutions provides the highest level of quality and efficiency in [the] collateral valuation process," said Vladimir Bien-Aime, president and CEO of Global DMS. "The integration of Platinum Data's RealView product into our eTrac platform facilitates the thorough assessment of collateral to allow mortgage lenders to make better business decisions. Put simply, this collaboration reduces fraud, lending costs and overall risk."
Another benefit of the integration is the cut-down on time lost configuring and implementing business rules, added Platinum CEO Phil Huff.
"Manually evaluating appraisals is one of the most tedious, time consuming activities in the underwriting process, and unless you use a technology, it's virtually impossible to achieve any consistency in the practice," Huff said. "This integration is enabling a whole new group of lenders and AMCs to achieve unquestionable appraisal quality and compliance faster and easier than ever before.
"We're pleased to be integrating with Global DMS," he continued. "Like Platinum, they are dedicated to removing any barrier to appraisal quality and compliance."