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California MBA

commercial

Home / commercial
26Mar

MyEVO: The Industry’s First Voice Activated Appraisal Management Tool

March 26, 2022 California MBA Commercial

Efficiency is key in today’s ultra-competitive mortgage market, especially when it comes to real estate appraisals, where drawn out turn-times can lead to bad referrals, loss of business, and wasted expenses.

Global DMS’ EVO® appraisal management software was designed to be both exceptionally intuitive and powerful enough to support a completely automated appraisal management workflow – reducing turn-times by up to 30%.

To provide even more efficiency, EVO now includes voice-control technology via Amazon’s Alexa, allowing mortgage lenders, AMCs, and appraisers to securely access key functionality and up to the minute information of their entire appraisal pipeline with nothing more than their voice!

Known as MyEVO™, this innovative tool is a first for the mortgage industry, which allows its users to instantly access all their appraisal information through Alexa capable devices, like the Echo, Echo Dot, Echo Tap, and the mobile Alexa apps for iPhone and Android.

Users can ask Alexa to launch the MyEVO skill that enhances the virtual assistant’s ability to conduct appraisal management tasks, such as ordering an appraisal, providing appraisal status updates, and delivering EVO’s latest product enhancements and news.

For more information, visit our MyEVO webpage.

Interested in a demo? Contact Global DMS® at evoinfo@globaldms.com or 877-866-2747

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26Mar

How Commercial Lenders Can Reduce Turn-Times

March 26, 2022 California MBA Commercial

Waiting for a commercial appraisal to come can feel watching grass grow. While most appraisals can take one to two weeks, some can take much longer, depending on the property type.

After waiting, the last thing lenders or AMCs want is pesky delays caused by inadequate appraisal management processes. The answer for lenders is relying on an appraisal management software that provides a streamlined workflow that enhances project control, simplifies compliance, and allows lenders to work smarter, not harder. This all sounds great until you hear…

Many lenders within the industry are using antiquated commercial valuation technologies that have failed to adapt to today’s modern mortgage environment. This causes a whole slew of problems for lenders because the systems lack necessary functionality causing time-consuming workarounds, long turn-times, additional costs, and loss of revenue.

If you are one of the many lenders or AMCs scratching your head trying to figure out how to speed along the back-end processes for commercial appraisal management, you are not alone!

Fortunately, options on the market can eliminate these common pain points and allow lenders and AMCs a fully digital process that centralizes all documentation and communications. These modern solutions should come with features such as:

  • 100% configurable platform, including fields, forms, reports, and more
  • Customizable workflow automation
  • Instantly drag and drop large appraisal file uploads with no browser time-outs
  • Providing an easy way to send RFPs to multiple vendors and receive bids
  • Electronically digitizing your appraisal review forms for an integrated, consistent, and reportable approach

If you struggle with antiquated software and need help speeding along your appraisal management process, you should check out EVO® appraisal management software. It comes standard with all the features mentioned above and more! EVO can reduce appraisal turn-times by 30% and appraisal review times by 25%.

Becoming more efficient starts with the right appraisal technology. Click here to set a time to see how EVO can help you reduce turn-times.

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10Nov

Blooma’s AI is Automating Commercial Real Estate Underwriting

November 10, 2020 Blooma Commercial

The days of manually pulling comps and wasting hours trudging through borrower documents is over. The Blooma platform serves as a digital underwriting assistant by automating the collection, aggregation, and analysis of deals to help lenders determine the right asset valuation and deal attractiveness with minimal human interaction. This includes asset, borrower, and financial analysis, as well as loan portfolio management, and tracking and auditing of loans over time. The platform is primarily driven by Blooma’s artificial intelligence analysis and scoring of each deal according to the lender’s predefined lending profile.

Blooma’s AI can read an offering memorandum, automatically pull relevant comps, read borrower documents, spread a borrower’s cashflow/liquidity, and analyze an asset’s potential LTV in a matter of minutes.  Additionally, Blooma can integrate with existing LOS Systems, so lenders do not have to change their current user interface.  The Blooma platform will simply streamline the data that underwriters are already manually entering into the existing LOS system making the loan underwriting and origination process far more efficient.

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2023 President’s Council

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