NEWS: (LANSDALE, Pa.) Global DMS, a leading provider of web-based compliant valuation management software, announced that CMG Financial (CMG), one of the nation’s leading lenders, has streamlined the management of its appraisal process from start to finish using Global DMS’ eTrac platform.
This has enabled CMG to work with its AMC providers that have disparate systems through a single interface with eTrac. As a result, processors and brokers no longer have to log into each AMC’s system to place appraisal orders. From within eTrac, CMG users can order and assign appraisals, track them with real-time status, review appraisals, and they are then automatically delivered to the Uniform Collateral Data Portal (UCDP) in full compliance and without errors or missing data.
“After we implemented eTrac, our AMC assignments became automatic and thus it really simplified and sped up our orders,” said Peter Gilbert, chief credit officer at CMG. “The eTrac Workflow Engine also played a significant role in the implementation by automating notifications and file delivery to the ordering parties and borrowers. eTrac has made our appraisal process very easy and efficient and we always know that we are compliant and have quality appraisals.”
Global DMS’ Workflow Engine eliminates manual intervention, automatically handling many intricate and disparate tasks in CMG’s unique appraisal process. Custom business rules were applied to tailor CMG’s appraisal management workflow to their preferences and specific internal procedures.
“CMG runs numerous appraisal orders through our system each month with an elevated level of workflow-driven efficiency,” says Vladimir Bien-Aime, president and CEO of Global DMS. “The fact that eTrac effectively centralized CMG’s utilization of multiple AMCs and automated nearly all appraisal functions using our Workflow Engine speaks volumes about the flexibility and scalability of our platform.”
eTrac facilitates far-reaching compliance functionality that is proven to automatically keep lenders compliant with changing state-based rules, federal laws, the Consumer Financial Protection Bureau (CFPB) and the Dodd-Frank Act.
About Global DMS
Founded in 1999 and headquartered in Lansdale, Pennsylvania, Global DMS is a leading provider of commercial and residential real estate valuation solutions catering to lenders, servicers, AMCs, appraisers and other real estate entities. The company’s solution set is cost effectively delivered on a Software-as-a-Service (SaaS) transactional basis that ensures compliance adherence, reduces costs, increases efficiencies and expedites the entire real estate appraisal process. The product line-up includes its eTrac(R) valuation management platform, eTrac Web Forms, Global Kinex, AVMs and data analytics products, BPO management platform, the MISMO Appraisal Review System (MARS), ATOM (Appraisal Tracking On Mobile) and AMCmatch.com. For more information, visit the company’s website at http://www.globaldms.com/ or call (877) 866-2747.
About CMG Financial
CMG Financial is a well-capitalized, privately held mortgage-banking firm founded in 1993. The company makes its products and services available to the market through three distinct origination channels including Correspondent Lending, Wholesale Lending and Retail Lending. CMG Financial currently operates in most states and the District of Columbia, and holds federal agency lending approvals with HUD, VA, RHS, GNMA, FNMA and FHLMC. Throughout the mortgage banking and housing markets, CMG Financial is widely known for responsible lending practices, industry and consumer advocacy, product innovation, and operational efficiency. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS# 1820 in most, but not all states. CMG Mortgage Inc. is an equal opportunity lender. For more information, visit http://www.cmgfi.com/.
Global DMS Twitter: @GlobalDMS
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