Global DMS announced that it has launched Global Delivery, an alternative to the traditional way appraisal documents are prepared, packaged and compliantly provided to borrowers by way of printed appraisals sent via U.S. mail. The result is near removal of human involved tasks, operational disruption, a reduction of costs and a more efficient process for mailing appraisals.
“What Global Delivery accomplishes is applying the greatest level of automation possible to alleviate an elderly task of yesteryear,” Global DMS President and CEO Vladimir Bien-Aime said in the company’s news release. “There is still consumer demand in residential mortgage valuations to receive the fully packaged appraisal via the U.S. Postal Service, and of course, to receive it in full CFPB compliance. Global Delivery is a perfect blend of technology and service that automates the manual and cumbersome process of printing, folding and mailing appraisals to borrowers.”
Under the Equal Credit Opportunity Act, sometimes called the ECOA Valuations Rule, the copies of valuations may be delivered to the borrower either on paper or electronically. Many solutions handle electronic delivery of appraisals; however, unlike Global Delivery, they have not sufficiently addressed the hard-copy delivery of appraisals or other valuations to the borrower via mail.
“Staff spending time on non-revenue producing activities like packaging and mailing documents is expensive and can be extremely disruptive. As an example, a staff member can easily spend over 22 hours a month just managing a meager 250 plus files per month, equating to about 14 percent of their time manually addressing the ECOA Regulation B requirement. The greater the loan volume the worse the problem becomes,” Global DMS said.
Key features of Global Delivery include:
• Fully automated appraisal delivery to borrower
• Customized cover letter with company logo
• Files are mailed within 24 hours
• Delivered documents are imaged and permanently stored
• API for easy integration with external systems
• Predictable costs
Utilizing eTrac, Global Delivery can be 100 percent automated thus fully eliminating human intervention entirely. Global DMS’ highly configurable workflow engine for appraisal reports can be automatically queued for delivery based on specific lender set parameters.
Global DMS is a leading provider of web-based compliant valuation management software. In addition to accompanying its eTrac platform, Global Delivery is available as a stand-alone solution for users that already have an existing platform for appraisal fulfilment.