""Global DMS"":http://www.globaldms.com/, a Lansdale, Pennsylvania-based provider of appraisal process management solutions, recently released[IMAGE]
MARS SME, the secondary market edition of its MARS Ã¢â‚¬" MISMO Appraisal Review System Ã¢â‚¬" technology. The company said this new system offers investors and asset managers a fast and easy way to value entire loan pools, all automatically within just a few minutes.
According to Global DMS, MARS is the industry's first ""plug and play,"" Web-based, automated appraisal review system that extracts data from PDF appraisal reports, reviews the data, then reassembles that data into XML MISMO format to deliver to Fannie Mae. MARS SME offers many of the same capabilities as the original MARS, but tailored to secondary market investors that work in bulk, rather than by individual loans, the company said.
""Whether trading whole loans, residential mortgage-backed securities, or loan pools, lenders are keenly aware of how important it is to know the property values of what[COLUMN_BREAK]
is being traded,"" said Vladimir Bien-Aime, CEO of Global DMS. ""In order for the secondary market to grow and thrive, investors need loan-level collateral transparency. MARS SME offers a way to provide that level of transparency on a bulk level.""
MARS SME allows lenders to upload thousands of property addresses at one time through a simple spreadsheet, and the system then runs powerful analytics to provide a summary and detailed evaluation results in just minutes, Global DMS said. According to the company, MARS SME uses robust analytics and data sources to reveal problem areas, compare findings to market benchmarks, and even check past values for the forensic appraisal reviews used to combat fraud.
Global DMS said the MARS interface can also sort valuation results, drill down for details, and order upgraded products. The system's ""bump logic"" can be configured to automatically elevate evaluations levels from automated valuation models to more comprehensive reports like broker price opinions, full appraisals, desk reviews, or other reconciliation products. In addition, the MARS rules engine is flexible and configurable and can be programmed according to specific investor rules, Global DMS said.
""There's no substitute for transparency when it comes to making smarter investments and protecting assets,"" Bien-Aime said. ""MARS SME can help prequalify applications, pre-screen pools of loans, and provide comprehensive portfolio valuation analyses. Because MARS SME was created specifically for this level of evaluation, users get the benefit of paying a reduced fee for only the data elements that they need.""