From better program selection to better forecasting of loan performance, mortgage technology providers are moving forward with improvements to all facets of the loan life cycle.
Originators who use Calyx Point loan origination software can now request a product and pricing decision from lenders and investors participating in the Calyx Network without leaving the loan file in Point. In addition to the new product and pricing engine category, the network features six new vendors of these services, Calyx Software announced.
Brookview Financial’s programs have been added to the SearchMyLoan.com search and pricing platform, according to a news release. Brookview provides short-term residential loans for acquiring and rehabilitating investor properties.
Landata Technologies Inc. said its e-Link software enabled the recorder of deeds in Luzerne County, Pa., to accept the first electronic recording in northwestern Pennsylvania. Through the software, Abstract Resources submitted the real estate closing documents into the county’s LANDEX land records management system.
First American LoanPerformance announced the launch of its RiskModel 4.0, an analytics solution that forecasts future mortgage prepayments, defaults, losses and projected cash flows. The updated system includes a new graphical user interface, conversion tool, application programming interface, as well as a new home equity line of credit model and updated loan models that better capture loss estimates for prime, Alt-A and subprime loans.
Interthinx Inc. said it added FEMA Alerts to its FraudGuard product to automatically provide lenders with supplemental information when the subject property is located in an area where the Federal Emergency Management Association has issued an alert of hazard. The alerts, a no-charge upgrade, increase the accuracy of its proven loan scoring system.
TD Banknorth is piloting the technology of Dynamic Card Solutions to enable certain branches to digitally print non-embossed Visa debit cards. TD announced it is the first major U.S. financial services institution to use this technology for flat panel cards and that it will extend the program to all of its branches by the end of summer 2008.
Citizens Bank has selected the Noble Solution for blended inbound and outbound contact management in its consumer collections center for residential mortgages and consumer lending, Noble Systems Corp. announced.
The laws and regulations enabling electronic signatures are clear and equate the signatures to those made on paper, according to a recent Webcast from electronic signature provider Silanis Technology. A growing body of case law upholding electronic records as valid evidence in court and that e-contracts are in use across the board for high-value, high-risk processes involving insurance and mortgages.
But the presentation noted e-contracting requires more than a database-driven approach and contract management system, as Silanis said its own solutions reportedly does by creating a permanent link between the process, the signature audit trail and the signed record.
