Monday, July 11, 2011

Global DMS Prepares to Deliver Appraisals to GSEs

Global DMS, Landsale, Pa., a provider of appraisal process management software, has announced that Global Kinex, its appraisal data delivery technology, is now directly integrated to the Uniform Collateral Data Portal (UCDP). This integration provides lenders and appraisal management companies (AMCs) with another UCDP-compliant method of delivering appraisal data to the GSEs.

In an effort to promote early adoption use of the portal, which will be required as of March 19, 2012, Global DMS is offering special introductory pricing of $1 per appraisal file for new customers. Costs will be waived for existing clients using premium versions of Global DMS’ eTrac Enterprise Edition and Oasis valuation management platforms.

For $1, new clients can convert data from first-generation PDF to MISMO XML 2.6 GSE format, check for compliance with the uniform appraisal dataset (UAD), and deliver the appraisal file via the Global Kinex delivery system – all in a matter of moments. Existing clients using the premium versions of eTrac Enterprise Edition and Oasis valuation management platforms have access to all of the same benefits, plus a GSE “hard stop” automated review, which checks for discrepancies like missing appraisal values, the appraiser’s suspended licensure, and unknown subject addresses, all free of charge. This introductory $1 pricing remains in effect until September 1, 2011, after which time the $1 rate will increase to $3 per file. These services will remain complimentary for users of the premium editions of eTrac Enterprise Edition or Oasis.

The Uniform Collateral Data Portal is a portal that lenders will be required to use to deliver appraisal data to Fannie Mae and Freddie Mac. The GSEs will require appraisal data delivery to the portal for conventional loans requiring an appraisal, with application dates falling on or after December 1, 2011, and that are delivered to Fannie Mae or Freddie Mac on or after March 19, 2012.

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