General Concept

For the real estate transaction, lenders have specific relationships with vendors, appraisers, appraisal management firms, abstractors, title companies, closing agencies, etc. all of which provide valuable services used in the loan closing process. Such relationships have already been established based upon agreements, guidelines and expectations you both have agreed upon but the challenge has always been managing them all. vmcSelect is the portal solution that provides a lender with the tools necesary to manage all of their vendor choices.

You have a need for a service such as an appraisal, title or flood. From the portal a drop down list displays your available choices, you select the vendor and submit the order. vmcSelect processes the order by sending it to the vendor and updating the order with the date and time of receipt. All communication between the vendor and lender is now done via the portal, providing a complete audit trail and accountability record for every order.

As your orders are completed, notifications are sent to you allowing for immedaite access to the files while providing service statistics on each vendor that you can use for performance ratings.

Our portal can be a manual based web implementation or a completely integrated solution using XML over SSL. Our team of implementation specialists can create a unique and custom environment for every client, meeting 100% of their needs, 100% of the time.

vmcSelect is the technology that provides the lender with the ability to order, track and audit all of their vendors and orders from a single interface, saving resources, time and money.

Our architecture is open which allows us to make modifications for a client that have no impact on any other client using the portal. Unique to this industry, this type of design affords us the ability to build "private" modules for clients that may met a particular need which removes this task from their internal development team and can lead to quicker implementation.

If you currently have 10 appraisal companies, 8 title providers, 3 AVM and 4 Flood providers, that's 25 possibilities for ordering and tracking orders. 27 Web Sites, user names, passwords, fax numbers, etc.

vmcSelect eliminates all this confusion by providing a single interface for all of your vendors, regardless of their technology, location, service they provide or method they choose to communicate.

We "map" a lender to a vendor, the services the vendor provides and the states they provide the services in. Keeping in mind that these are your vendors not random ones that happen to be on our system. Many similar services are "open" systems, revenue-generating sites for vendors to solicit lenders. A matchmaking site for lenders and vendors, so to speak. We are a "closed" system, meaning only your approved vendors can communicate with you and you have complete and immediate control to add, delete or modify them.