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Global DMS Offers HVCC Compliance

Many lenders who sell their loans to Fannie Mae and Freddie Mac are hesitant to outsource the appraisal process to Appraisal Management Companies (AMCs), especially with the GSEs' strict new Home Valuation Code of Conduct (HVCC) requirements set to take effect May 1st.
But ""Global DMS"":http://www.globaldms.com, a Lansdale, Pennsylvania-based company that has been delivering in-house appraisal management tools to lenders since 1999, says it provides a proven, viable HVCC compliance solution through its ""OASISOne technology"":http://www.oasissolutionsllc.com. OASISOne is a web-based centralized real estate valuation management platform that the company says includes all the new mandates from ""Fannie Mae"":https://www.efanniemae.com/sf/guides/ssg/relatedsellinginfo/appcode/pdf/hvccfaqs.pdf and ""Freddie Mac"":http://www.freddiemac.com/singlefamily/home_valuation.html.
According to Global DMS, software providers have scrambled to launch an HVCC appraisal solution before the May 1st window closes. As a result, the company says, ""many of these programs have difficult end-user learning curves, long implementation timeframes, a lack of centralized control, and poor customer support."" In addition, Global DMS says, some vendor products only offer partial solutions, which leave lenders having to combine different products and deal with the problems of integration.
Matt McHale, VP of Global DMS, explained that his company's OASISOne is fully centralized and provides all the features a lender needs to comply with HVCC regulations, reduce turnaround time, and increase the capacity their teams can handle. ""May 1 is rapidly approaching, but our platform stands ready for immediate implementation. OASIS has been integrated into banking systems for the past 10 years and is a truly comprehensive solution that enables lenders to guarantee compliance with current and future regulation,"" McHale said.
Global DMS said the design of its platform was driven by customer requirements and includes: online appraisal requests; impartial appraiser selection; vendor management; integrated web-based valuation forms; real-time automated status updates and reports; advanced search capabilities; integrated messaging and file history; electronic report delivery; an appraiser scoring and review module; an incorporated accounts receivable and accounts payable component; phone, fax, and e-mail support; and a live help desk.
According to McHale, the company's OASIS hosted appraisal management platform increases lenders' processing capacity while providing ""performance without payroll.""
""Our clients appreciate that OASIS does not require a large capital investment to implement,"" McHale said. ""This makes OASIS easily affordable for lenders of all sizes. Its centralized database provides a plug and play interface, freeing end-users and IT resources of traditional administrative demands. OASISOne provides flexible payment options that can effectively create revenue streams from the collateral risk function that is typically a loss leader.""

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

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