Sponsored ContentReal Estate

eTrac from Global DMS delivers a comprehensive custom-configured workflow

Proprietary QC functionality ensures appraisal accuracy in the early stages of the process

In today’s mortgage industry, more and more lenders and AMCs are leveraging a comprehensive, custom-configured workflow that will automate the valuation management process through final delivery. As the regulatory environment intensifies and the cost to originate loans increases, so does the demand for a sophisticated appraisal solution.

Global DMS, a leading provider of cloud-based commercial and residential real estate valuation technology solutions, developed a solution to manage the multitude of tasks needed to successfully collateralize a mortgage loan. Clients can custom configure eTrac to match their exact processes, using as much or as little automation as needed.

The solution is cost effectively delivered on a SaaS transactional basis that ensures compliance adherence, reduces costs, increases efficiencies and expedites the entire real estate appraisal process.

“While there are platforms on the market that offer some degree of workflow automation, most do not allow for the depth of configuration and implementation of business rules that automates everything — not just a portion of their process,” said Vladimir Bien-Aime, president and CEO of Global DMS.

Automating the valuation process through proper technology saves time for lenders, banks and AMCs. eTrac’s workflow engine can be custom-configured to the user’s unique way of handling appraisals, automating multiple complex events, actions and statuses using specific timelines. This leads to minimal manual intervention by staff, elimination of data errors or missing information, reduction of costs and smoother workflows.

The solution’s proprietary QC functionality ensures appraisal accuracy in the early stages of the process, where users can notify appraisers by setting reminders throughout the workflow. Additionally, eTrac automates the communication of assignments, allows for the setting of tasks and provides timely status updates.  

“Our clients find the variety of workflow configurations to be key towards managing their entire appraisal operation,” Bien-Aime said. “The ability to run reports on any data field is also key to managing the overall process, while the automation of routine tasks and delivery helps optimize efficiency.”

With the entire valuation ecosystem changing, lenders are continually on the lookout for a remedy to keep costs low, maintain acceptable turn times, remain compliant and ensure the accuracy of appraisals. Leveraging workflow-based technology solutions, such as eTrac, helps clients keep compliance at the top of their list.  

“After clients implement eTrac, we hear that the workflow engine plays a significant role in streamlining the appraisal process, giving them gains in efficiency, productivity and tracking by automating notifications and file delivery to the ordering parties and borrowers,” Bien-Aime said. “Many clients say eTrac makes their appraisal process very easy and efficient, and they love knowing that their organizations are always compliant and have quality appraisals.”

THE EXECUTIVES

magazineJody Collup, CMO and Director of Operations

Jody Collup has more than 25 years of marketing and management experience working in both the private and non-profit sectors, with the majority of her experience being in the mortgage industry and specifically technology. She currently serves as the Chief Marketing Officer and also Director of Operations for Global DMS where she runs the marketing department and also manages the company’s operations, organizational structure, and long-term business strategy.

Vladimir Bien-Aimemagazine

Vladimir Bien-Aime is the President and CEO of Global DMS, which he founded in 1999 and built from the ground up. Since that time, he has grown the company into the mortgage industry’s leading provider of cloud-based, enterprise-class valuation management software solutions.  A consummate technologist and constant innovator, Bien-Aime was instrumental in architecting Global DMS’ comprehensive eTrac enterprise valuation management platform.

Bien-Aime later developed a number of ancillary products and services that enhanced eTrac and made it more robust. Most recently, he launched EVO-Commercial, the next generation of commercial valuation technology.

Bien-Aime is considered a pioneer in the valuation software space and a subject matter expert who has a deep understanding of complex federal, state and local appraisal-related compliance rules and regulations.

About the Author

Related Articles

Radian’s diversified business model covers the entire mortgage and real estate spectrum

HousingWire sat down with Derek Brummer, Senior Executive Vice President of Mortgage Insurance and Risk Services at Radian, to learn how Radian’s business models and diversification strategies provide the company with a competitive edge. What differentiates Radian from the MI competition?  At Radian, we’re in the business of ensuring the American dream responsibly and sustainably, […]

Oct 16, 2019 By

Most Popular Articles

Freddie Mac: Mortgage rates reverse course from last week’s low

This week, the average U.S. fixed rate for a 30-year mortgage jumped to 3.69%. That’s still more than a percentage point lower than the 4.85% of the year-earlier week.

Oct 17, 2019 By

Latest Articles

Embrace Home Loans names new senior vice president, retail and direct sales

Embrace Home Loans, a Rhode Island-based mortgage lender, announced this week that longtime employee Ryan “Buddy” Hardiman is being promoted to senior vice president of retail and direct sales.

Oct 18, 2019 By