twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Mortgage Technology news
Technology news for originators, executives and servicers. Coverage of LOS systems, loan product and p r i c i n g engines and other technology offered to the mortgage industry.


No More Paper

Recent mortgage technology activity

July 26, 2007

By COCO SALAZAR


photo of Coco Salazar

Mortgage lending, traditionally known for the pounds of paperwork generated with each transaction, is eliminating pulp from the point of prospecting through the servicing cycle. Among the latest processes to go paperless are underwriting, signature verification and guideline updating.

Mortgage Loan Place has generated traffic at its Web site by offering an FHA Lending Guide for mortgage prospects, according to a news release. As of Monday, the free guide had been downloaded 1,000 times.

Clayton Holdings announced it has a new analytic tool to help large lenders and Wall Street conduits determine whether the closed loans they are buying meet the most prevalent "suitability" standards. The first release of the Suitability product focuses on payment shock and recalculates the ability to pay using a fully-indexed, full-amortized schedule. In September, an optional, add-on module will be available to address additional nontraditional guidance issues and capture nontraditional mortgage procedures, such as no income and no asset verification or stated income loans.

"There are layers to the debate -- and the definitions -- around suitability and non-traditional mortgages," Clayton said in the announcement. "Rather than wait for it to be fully defined and legislated, we assessed the issues currently being debated, spoke with our clients and determined what is immediately needed to address this issue," thereby additional services will be added as issues on suitability and nontraditional mortgages evolve.

Wachovia Corp. chose the Mortgage Servicing package of Fidelity National Information Services Inc. to process its mortgage and home equity lines-of-credit. While Wachovia has been servicing its first-mortgages on MSP for a decade, the expanded relationship will provide securitization, default, escrow management and regulatory oversight capabilities for Wachovia's HELs and provide transaction processing services for the credit cards tied to Wachovia's HELOCs, Fidelity reported.

OIH announced that it recently renamed itself possitivity, and will offer its document-management services, including digital-imaging services, to the private sector.

Fidelity National Real Estate Solutions' TransactionPoint was integrated with DocuSign Inc.'s e-signature solution -- a technology enabling secure and legally binding online signatures, the companies jointly announced. TransactionPoint is an online solution that manages, organizes and secures the data, documents and critical activities associated with real estate transactions, while providing authorized parties access to this information and status.

"The TransactionPoint and DocuSign integration significantly reduces administrative delays, expenses, and the waste of natural resources, while improving security and access to the data and documents required for today's real estate transactions," Fidelity said.

Meanwhile, Silanis announced it is offering its ApproveIt Web Server and ApproveIt Transferable Records Manager as part of IBM Global Financial Solutions' recently released Service-Oriented Architecture Foundation for Banking Solutions. Silanis, reportedly the world's largest e-signature provider, says its technology will ensure legally enforceable electronic signatures as part of IBM's SOA offering, helping to automate various online banking applications, starting with IBM's Mortgage E-Collaboration solution. Silanis' technology will also handle the transfer and storage of transferable records, the electronic equivalents of promissory notes and chattel paper.

TSS Software Corp. updated its Web site, enabling customers to log in to the support center and perform customized functions, while a new login procedure provides secure access to software downloads, licensing codes, and remote support as well as the ability to update preferences, a news release said. The 14-year-old settlement services software provider plans to offer an online storefront.

Advectis Inc. announced it added Cunningham & Co., Gateway Financial Mortgage Inc., Power Express Mortgage Bankers, and LownHome Financial as clients of its BlitzDocs Collaboration Suite for electronic document submission, image-based underwriting and electronic loan delivery. One recent cited for adoption was the ability to quickly rollout and implement investor delivery capabilities.

The Closing Agent Risk Committee has been formed in response to growing fraud, according to an announcement from one of its members. The committee, which stands to benefit mortgage warehouse lenders, will focus on the risks associated with the loan closing process.

"Mortgage fraud has taken on a new, more insidious, collaborative criminal aspect, and perpetrators will take advantage of every opportunity to scam the system," an FBI agent was quoted as saying at a recent warehouse lending conference. "If they can use multiple warehouse lenders to fund the same loans, they will."

South Pacific Financial Corp. implemented Lender E-Source's Loan Library and Electronic Loan Finder, according to an announcement. The technology provides lender updates, simplified loan product searches and eliminates the need for rate sheets.

"We have saved half the money it would cost to employ a person to do the same work," a South Pacific executive was quoted as saying in the announcement. "It is the most easily learned and accepted piece of technology that we have put in front of our sales staff."

Interthinx Inc. said it integrated its loan-level fraud detection system, FraudGUARD, with Mortgage Builder Software, a loan origination system. The pairing enables validated risk assessment and mortgage fraud detection as well as the ability to anticipate the likelihood of foreclosure and early payments default before funding loans.


Coco Salazar is an associate editor and staff writer for MortgageDaily.com.

e-mail: [email protected]


Mortgage Fraud News | Fraud Statistics | Fraud Index | Fraud Blog
Mortgage broker, originator and banker criminal cases. Real estate flipping and appraisal fraud. Mortgage fraud prevention, studies and analysis.



Secondary Marketing News | Correspondent Lender Directory
Mortgage portfolio trades and forward commitments. Correspondent lending, r e p u r c h a s e s and warehouse news. Secondary marketing statistics and lawsuits.



Logout forgot
password?

Mortgage Fraud Statistics
Government and private data on volume of mortgage fraud activity.



Mortgage Fraud Index
Dollar and index amount by quarter and state.



Mortgage Fraud Litigation
Lawsuits and settlements invoving mortgage fraud by a lender insider. From 2007 through first-quarter 2013



Mortgage Fraud News
News stories about fraud committed against home lenders.



Mortgage Fraud Blog
Actions in mortgage fraud criminal and civil cases.



local mortgage fraud


mortgage fraud links



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders