Global DMS says the integration allows ChannelMaster users to compliantly order and process appraisals, attain real-time status updates, establish transparency and control, and return completed appraisal files directly from the ChannelMaster platform.
By automating previously manual processes, this integration can help lenders increase their efficiencies while decreasing their costs, the company notes.
Global DMS also reports that eTrac Enterprise allows ChannelMaster ELS users to more efficiently manage multiple appraisal management companies or an in-house appraisal panel, depending on their internal processes and preferences.
This ability to manage a diverse set of vendors and augment coverage with the eTrac Network provides users with enhanced flexibility in the appraisal process, says the company. The solution allows lenders to order appraisals and then assign, track and deliver loans to the government-sponsored enterprises via the uniform collateral data portal, helping them avoid costly buybacks.
Global DMS says eTrac is specifically engineered to help lenders maintain their appraisal compliance with state and federal laws, the Consumer Financial Protection Bureau, and the Dodd-Frank Act.