Global DMS, a provider of Web-based compliant valuation management software, announced that it launched AMCmatch.com, a search engine that allows lenders, servicers and other users of valuation products to efficiently locate and qualify the best fit appraisal management company (AMC) for their needs.[IMAGE]
""All too often, organizations select AMCs that fail to produce quality appraisals, operate out of compliance, are financially unstable, aren't licensed in the states they do business in, and may have payment issues with appraisers, among other concerns,"" stated Vladimir Bien-Aime, president and CEO of Global DMS.[COLUMN_BREAK]
The company is selective about who is placed in the service. Approved AMCs that are listed on the site are able to facilitate online ordering, automated collateral reviews, high volume production, superior customer service and direct integration to the GSEs' Uniform Collateral Data Portal (UCDP). Lending entities benefit by being able to visit the site and enter in specific search criteria to locate established, reputable AMCs that have a proven track record of compliantly delivering quality appraisals. Users of the site can sign up for free without contracts and any additional fees.
""Doing business with the wrong AMC can result in tens of thousands of dollars in fines, risk investor kick backs, taint relationships with appraisers and leave lenders with unjust financial responsibilities,"" said Bien-Aime. ""Per the Dodd-Frank Act, issues with appraisals almost always come back to the lender whether it is their fault or not. That's why it's so important to choose the right AMCs to do business with-the first time.""
AMCmatch.com makes it easy for users to quickly locate the right AMC for their specific needs without extensive research and verification. The data that resides in AMCmatch.com's search engine includes AMC type, years in business, location, area coverage, licensing, and payment acceptance types.