Wireless Mortgage Applications Advance

This year, the worldwide number of mobile phone users making payments for digital goods is forecasted to come in at 1.8 billion, Juniper Research recently predicted. By 2015, the metric will reach 2.5 billion.

“Whilst the mobile payments sector offers substantial growth opportunities, it needs to be seen by innovative players as a platform from which to develop new value added applications and services such as personalised mobile coupons, loyalty schemes and novel augmented reality offerings,” Juniper Senior Analyst David Snow said in a statement.

But the Hampshire, U.K.-based firm warned that fraud levels on some types of payments are increasing, and mobile security will soon be a key issue.

Live phone interaction with customers is among a recently added line of features in the Marksman Communication Package. A July 18 news release from the Mortgage Daily advertiser indicated that the package is an affordable API that only requires an Internet connection and a phone line, including mobile devices.

“Getting to leads first is an integral part of being competitive, especially with online lenders,” Don Kracl, president of Marksman developer Mortech Inc., said in the statement. “The faster originators can get to a lead the higher the chances are they’ll be able to convert the prospect.”

In August, ISGN launched its browser-based loan origination technology that can be accessed on smartphones and tablets. The product launch was announced at the Synergy 2011 Client Conference. The service, which can be purchased as cloud-based or as license-based Point-of-sale tools, also includes loan pricing engine and imaging functionality. The offering is dubbed Catapult Mortgage Origination System.

Earlier this year, appraisal management company Coester Appraisal Group announced “the appraisal industry’s first smart phone application.” The beta service, located at AMSCoester.com/Mobile/, reportedly connects Coester with contracted appraisers, lender clients and broker clients. The Web site was still being constructed as of the publication of this story.

Users of a la mode’s Apple offerings have installed the applications more than 100,000 times. The DaVinci application for iPad was listed as the No. 1 free business app in the Apple App Store a week after its release in 2010, according to a news release. The company claims that appraiser users no longer need to carry a clipboard.

Loan originators at Dallas-based Supreme Lending can access a mobile version of its proprietary product and pricing engine. Supreme said this summer that users of Apple and Android devices can install the mobile version, which isn’t an “app,” and securely access their loan origination systems.

Apple recognized the Sign Docs application as “New and Noteworthy” in the productivity category of its iTunes store, Sulaba Inc. recently said. The document management service enables e-mail interaction with clients.

Institutional clients of RBS Securities Inc. can use an enhanced, free application on their iPads for U.S. market information and commentary on multiple fixed income asset classes. In a statement last month, the Stamford, Conn.-based firm said enhancements to RBSMobile include market commentary on short term markets, mortgage-backed securities and asset-backed securities. Reports published by RBS strategists and pricing information for Treasury Inflation Protected Securities are also among the enhancements.

A mobile application from the Mortgage Bankers Association for iPhone and Android devices is available to prospective borrowers for free at the iTunes Store. The trade group said in July that the application includes an affordability calculator, a 1,300 term glossary and an interest rate feed.

Also recently launching a consumer application was Quicken Loans Inc., which in June announced a mobile application for Apple products that makes it possible to apply online from an iPhone, iPod touch or iPad. MyQL Mobile includes real-time loan status updates, instant access to originators and an interactive list of required documents.

Detroit-based Quicken, which claims to be “the first mortgage provider to offer a mobile app that enables clients to apply for a home loan from” from wireless devices, called the application a milestone.

The Federal Trade Commission filed a law enforcement action against Philip Flora, who allegedly sent more than 5 million unsolicited text messages. The messages typically promoted questionable loan modification and debt relief services.

Fiserv Inc. announced Tuesday that it has published a white paper outlining how banks and credit unions are perfectly suited to support mobile payments. Among the reasons cited are trust already earned by their customers, access to bank accounts and knowledge of payment processing. They also have the assets and existing relationships needed to go mobile.

Fiserv said that the report explains how financial institutions can get into mobile banking and details four dimensions of mobile payments.

Last week, Fiserv, a Mortgage Daily advertiser, said it has collaborated with Microsoft on device applications for Windows-based Phones and tablets. The company utilizes its Aperio application which is based on Microsoft technologies.

A survey of 3,000 consumers by Mercatus LLC found that prospective banking customers are being influenced by mobile adoption in evaluating banks. More than a third called mobile “extremely important or important” in considering a new primary bank versus just 20 percent 12 months ago. The report indicated that smartphone ownership has grown to half among 26- to 34-year-old users from one third a year ago, and customer retention was exceptionally strong among mobile users.

Wells Fargo & Co. touted last week its No. 1 ranking on the Keynote Mobile Banking Scorecard for mobile Web banking, text banking and Blackberry applications. The San Francisco-based company said it has nearly 6 million active mobile customers.