Cloud-based valuation management software provider, Global DMS , has integrated its valuation management platform with Black Knight ’s LoanSphere Exchange platform, an online, collaborative technology that connects more than 25,000 mortgage industry service and solution providers.
This integration provides a gateway that helps support easy, secure lender access to Global DMS’ eTrac valuation management platform from their loan origination system (LOS), such as Black Knight’s LoanSphere Empower and LoanSphere LendingSpace LOS, which are integrated with LoanSphere Exchange.
Global DMS’ integration with LoanSphere Exchange enables lenders to order, check the status in real-time, review and upload completed appraisal files into the LOS. The bi-directional integration streamlines data exchange and facilitates ease of communication between the platforms. This eliminates the re-entry of data from initial ordering through review, thus reducing errors, ensuring compliance, cutting costs and dramatically speeding up the appraisal process.
Black Knight’s Exchange technology provides integration, data management, decisioning support and workflow management to facilitate transactions between lenders and their service providers through a single, secure online platform.
“Through this integration, we will significantly extend our reach to lenders that use Black Knight technology,” said Vladimir Bien-Aime, President and CEO at Global DMS.
“With Exchange, lenders essentially now have plug-and-play LOS integration to eTrac, which completely supports an in-house appraisal panel model, automates the entire valuation management process, and requires little-to-no IT resources to maintain,” Bien-Amie said.
eTrac is a single-source valuation management platform that automates key aspects of the valuation process such as: vendor management, appraisal ordering, assigning orders, tracking status in real-time, handling accounting functions, appraisal delivery based on lender preferences, reviewing appraisals, and selling them via connectivity to the Uniform Collateral Data Portal (UCDP) and Electronic Appraisal Delivery portal.
“We are pleased to welcome Global DMS as one of Black Knight’s Exchange integration partners in support of our commitment to reduce the time, cost and complexity to originate loans,” said Tom Peterson, president, Lending Solutions division at Black Knight.