""Valligent"":http://www.valligent.com/valligent/, a Roseville, California-based provider of collateral valuation and risk management solutions, and[IMAGE]
""Global DMS"":http://www.globaldms.com/, a Lansdale, Pennsylvania-based provider of appraisal process management solutions, recently launched an end-to-end valuation service for ordering, managing, and delivering a full range of valuation products in MISMO-sanctioned XML data format -- all in full compliance with major guidelines and regulations.
This collaborative service, called MISMO-Connect, provides companies with the valuation services of Valligent and additional select valuation providers, and it is powered by technologies from Global DMS. In addition, the service is fully compliant with the Home Valuation Code of Conduct (HVCC), the Federal Housing Administration's (FHA's) appraisal guidelines, and Fannie Mae and Freddie Mac's Collateral Data Delivery (CDD) program that is scheduled to be in effect as of July 1, 2010.
""This is much more than a one-stop service that covers valuation reports for the full spectrum of lender needs,""[COLUMN_BREAK]
said Jeremy McCarty, CEO and chief valuation strategist of Valligent. ""It's also a way for lenders to ensure that their valuation processes are fully compliant with all of the related regulations, including the Collateral Data Delivery requirements set forth by Fannie Mae and Freddie Mac.""
MISMO-Connect streamlines the entire valuation process, and all products are delivered in the MISMO-sanctioned format. Rather than ordering and managing various individual valuation products, mortgage companies can create their own custom valuation workflow seamlessly integrated with their loan management system.
The valuation products available include Valligent's proprietary suite of DRiVE collateral valuation solutions, as well as automated valuation model reports, traditional reviews, and full appraisals. The entire process is managed with Global DMS' appraisal process management technology for managing workflow and ensuring compliance with HVCC and FHA appraisal guidelines. In addition, data conversions, if necessary, are completed through Global DMS' MISMO Appraisal Review System, a technology that extracts data from PDF files and converts it into other formats, including XML as required by the CDD program.
""Standards in the industry are tightening across the board, so it just makes sense to have regulations that ensure data integrity in the appraisal segment as well,"" said Vladimir Bien-Aime, CEO of Global DMS. ""Staying compliant and profitable has always been a challenge for mortgage lenders. We're excited to be working with Valligent to provide mortgage lenders with a cost-effective, compliant, and simplified way of handling all of their valuation needs.""