Wholesale, Bank Technology Advances

Verint Systems Inc. announced that Banco Popular North America has saved $1.4 million in workforce efficiencies by using its workforce management software. Amongst other things, the solution has helped build “a credible capacity plan across the bank’s extensive branch network, identifying over and under staffing and various means of redeploying and optimizing staff within the branches.”

Temecula Valley Bank has deployed the integrated electronic banking platform of Q2 Software Inc., a news release stated. The software provides enhanced online banking, voice banking and a new Web site for Temecula’s growing commercial and customer base.

Visionet Systems announced it launched VisiDataBridge to lower data and image transfer costs for lenders, servicers and investors. The tool for large-scale loan information transfers automates data mapping among diverse systems and allows hundreds of in/outbound loan data formats to co-exist and function concurrently. Once the tool is installed and configured, it significantly reduces data errors and clean up activities through a robust built-in rules engine.

In loan servicing technology, Enable Us selected Propalms Inc. to be the provider of its software delivery platform. The contract with Propalms includes 40 licenses for TSE software and a recurring renewal service for the licenses. Enable Us systems service more than 80 percent of all commercial mortgage-backed securities in the country and more than 70 percent of Fannie Mae and Freddie Mac multifamily loans, according to an announcement.

WESTCAP CORP chose the commercial and multifamily loan servicing platform of Ocwen Financial Corp. REALSynergy, as the platform is named, handles virtually any loan structure, stores all information in a single repository and provides a customizable user interface, Ocwen reported.

LSSI announced that six lenders upgraded to Servicer3D, the upgraded loan accounting and management software that replaced its LoanBase SERVICER in February. While the previous Windows-based software application was designed to cost-effectively service and process mortgages, the new software enables improved searching, sorting and querying abilities that simplify loan servicing with easier access to portfolio documents. The six lenders are Merrimack Mortgage Co., NeighborWorks of western Vermont, Neighborhood Housing Services of San Antonio, the Sussman Lending Group, NHS of Great Falls, Mont., and Portland Housing Center.

LandAmerica Financial Group Inc. released eZLoss Mitigation, a solution to help mortgage lenders and servicers better manage problem loan portfolios and improve overall profitability. The Web-based default management platform is delivered through mortgage subservicing subsidiary LoanCare Servicing Center Inc.and handles outsourced loss mitigation processes.

TSS Software Corp. said it developed an interface with Data Trace Information Services to allow users of TSS’s TitleExpress title and settlement system to automate title search requests to Data Trace, which returns results electronically as well. Requests can be for various search types, including tax and assessment, upper court, county, corporate, and flood.

Global Energy Resources Inc. touted that it has generated $4 million in new business during the first month of adding a new credit reporting tool to its mortgage services. The tool is designed to increase GERI’s customers’ mortgage options through a method whereby prospects’ credit reports are analyzed and partial debt reduction may be managed to improve their credit scores.

Advancements in wholesaling technology included First American CREDCO’s and First American CoreLogic’s announcement of the release of ThirdParty Manager and Professional Screening Services, broker management tools that been integrated to help lenders manage risk and mortgage fraud. CoreLogic’s ThirdParty Manager streamlines the submission of broker data, due diligence, management and monitoring of wholesale channel brokers via an online wizard. CREDCO’s Professional Screening Services include broker and third-party screening and license monitoring.

Wholesale lender Online Financial Group signed a two-year service contract for Decision Assist, the loan pricing and underwriting software of Beanstalk Networks LLC that enables brokers to get fundable decisions at point of sale and maintains investor guideline updates, rate increases and broker fees, according to a news release.

Direct Mortgage Wholesale announced that it will soon release a new version of its loan software to ease the process of choosing a loan by instantaneously presenting qualified loan choices, reduce brokers’ work load, and speed up the loan process. The wholesale lender says Loan Choices will simplify file submission into three steps: selecting a loan, monitoring processing status, and scheduling a closing.

Pricing technology enhancements included the integration of LoanSifter’s subprime loan pricing and pre-approval search into the Calyx Point loan origination and processing system. An interface allows originators to transfer borrower loan scenarios from Point directly into LoanSifter’s Subprime search engine. LoanSifter analyzes all of subprime and ALT-A programs from the top subprime wholesalers and matches it against the borrower’s scenario, according to an announcement.

Vistature has provided an interface to streamline the integration of PriceMyLoan’s automated underwriting and pricing engine with various loan origination systems. Thereby, lenders have the option to keep their existing LOS and integrate PriceMyLoan’s functionality into their existing workflow, a news release stated.

In loan origination, Document Systems Inc. announced the release of the 4.0 version of LoanMagic. The new application combines into a single tool solutions for lead management, contact management, mortgage loan calculators, side-by-side loan comparison of any of the 10,000 loan programs in the system, and marketing.

Calyx Software has partnered with eXpertivity Mortgage Processing Solutions to offer technology-enabled outsourced loan processing, which should become available after Calyx’ next Point I-Update in September. A Point software interface will incorporate eXpertivity’s processing interface, allowing users to select title, appraisal, credit and outsourced mortgage processing vendors. The service will provided for a fee, charged only on closed loans.