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.
Is there a particular area of the real estate finance industry where you see new opportunities?
Obviously, correspondent lending is getting a lot of attention in this market as well as retail. We’re making a technology investment in both areas with an emphasis on web portals and mobile tools.
We are working with some of our new customers on new sales tools built directly into the LOS. The message we keep hearing is that they want one place for the originator to be able to do their complete job. Targeted directly to the loan originator, we’re working on a platform of components that include mobile tools, a new web portal, a mortgage centric Sales Cycle Management system and integration with some of the best marketing products in the industry. From a technology standpoint, mobile will continue to grow and evolve, access to and aggregation of third party data and validation of that data will continue to be a driver in our market and automation of the business process will always present opportunities for efficiency and growth.