Three origination channels will benefit from recent loan origination system updates, as will reverse mortgage originators and home-equity lenders.
Other LOS changes will enhance compliance.
Encompass 16.2, the latest version of the LOS, has been launched, Ellie Mae Inc. said in a news release on July 18. The update includes new and enhanced integrations with Freddie Mac tools.
In addition, Encompass 16.2 offers users enhancements to the Total Quality Loan program such as strengthened strategic partnerships and updates to Encompass product-and-pricing service.
Pleasanton, California-based Ellie, a Mortgage Daily advertiser, reported in July that it enhanced its integration with First American Title Insurance Co.
Mortgage technology provider Lending & Banking Automation Software
has joined the Ellie Mae Pro consulting partner program, an Aug. 10 statement said.
Black Knight Financial Services said in July that a number of enhancements to its LoanSphere Empower LOS support home-equity loans and home-equity lines of credit. These include a streamlined, end-to-end home equity lending application and fulfillment process.
Updates to Empower — which supports retail, wholesale and consumer-direct originations — include a configurable rules engine that automates the underwriting credit-risk assessment process. They also provide a product-and-pricing engine with added flexibility and greater functionality.
In addition, HELs and HELOCs can be originated on the same system as first mortgages.
Taking advantage of the home-equity updates is Fifth Third Bank, which Black Knight said last month signed a contract to implement its full suite of LoanSphere mortgage and home-equity solutions.
An Aug. 2 announcement from Black Knight indicated that U.S. Bank has implemented the LoanSphere Exchange.
Specialty finance company Colony American Finance has implemented the OpenClose loan origination platform to support its new single-asset loan product across correspondent, wholesale and retail channels.
Colony will first launch the stand-alone correspondent module OC Correspondent.
The reverse mortgage LOS, RV Exchange, now has LERETA’s property tax and flood data services integrated into it.
New American Funding is expanding its reverse mortgage lending business to 47 states utilizing RV Exchange, Reverse Vision announced on Aug. 11.
And on July 13, San Diego-based ReverseVision said that Evolve Bank & Trust chose RV Exchange as its reverse mortgage LOS.
A reseller agreement with DocMagic Inc. has landed more than a hundred new lenders for the MortgagebotLOS solution, developer DH Corp. announced Monday.
LendingQB said on Aug. 10 that is was among the first mortgage technology service provider to implement the MISMO 3.3 data standard for document compliance. The standard is reportedly important for compliance with the TILA-RESPA integrated disclosure rule.
A statement last month said the Mortgage Guaranty Insurance Corp.’s mortgage insurance is available through the LendingQB LOS.
LendingQB’s LOS has been implemented by Inlanta Mortgage Inc., a July 21 statement said.
