Valligent, a provider of collateral valuation and risk management solutions, and Global DMS, a provider of appraisal process management solutions, have jointly announced an end-to-end valuation service for ordering, managing and delivering a full range of valuation products in MISMO-sanctioned XML data format.
The service is in full compliance with the Home Valuation Code of Conduct, the Federal Housing Administration's (FHA) appraisal guidelines, and Fannie Mae and Freddie Mac's Collateral Data Delivery (CDD) program that is scheduled to take effect July 1, the companies say.
This collaborative service, called MISMO-Connect, provides companies with the valuation services of Valligent and other valuation providers, and is powered by technologies from Global DMS. The service allows mortgage companies to integrate customized valuation workflows into their loan management system rather than order and manage various individual valuation products, the companies add.
Global DMS has additionally announced a new technology platform, OasisOne, that it says enables users to run numerous disparate software solutions from within a single location.
"Think of it as a program within a program," explains Vladimir Bien-Aime, CEO of Global DMS. "A user only needs to log in once – to OasisOne – and from there will be able to launch various software products, which will be a lot like launching apps on a personal handheld device."
"The uniform accessibility through a single platform opens the playing field for software developers to create programs that can run from within that platform," he adds.
The first solution accessible through OasisOne is Global DMS' MISMO AppraisalÂ Review System technology, which extracts data from PDF files and converts it into various XML formats, including the MISMO 2.6 XML that will be mandated for loans submitted to Fannie Mae for the CDD initiative.
Global DMS says it is currently forging additional partnerships with mortgage industry software providers to provide "app"-like versions of their solutions, which will then be able to be accessed from OasisOne.
SOURCE: Global DMS