When technology shopping, are you looking for a partner or just a vendor?
Global DMS' eTrac Enterprise platform will be integrated with MortgageFlex’s loan origination system (LOS), LoanQuest. The integration is bi-directional and completely streamlines data exchange and facilitates ease of communication between the two platforms. The new integration works by providing lenders with the ability to easily order and manage appraisals, check real-time status, and receive completed appraisal files back into MortgageFlex’s LoanQuest LOS. The file is then automatically submitted to the Uniform Collateral Data Portal (UCDP) in full compliance and without errors or missing information. A detailed report is provided complete with audit tracking functionality giving lenders visibility and control over the entire appraisal process.
What do your clients and potential clients need to know about technology in the next few years?
As data standards and verification capabilities continue to improve, the accepted methods for originating and underwriting loans will become more automated. We will see the use of paper continue to disappear being replaced with images and certified data. The use of cloud services will become more prevalent in all phases of the origination process leading to lower costs and more efficiencies.