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Origination Technology Integrated, Enhanced

Mortgage News

The business of advancing the technology used by mortgage loan originators has recently been dominated by integrations and alliances with other mortgage service providers. As product enhancements were unveiled, two developers of loan origination systems touted recently added customers.

Loan Producer was enhanced with “customized business logic” through Rules OnDemand, Financial Industry Computer Systems Inc. recently announced. Users of the LOS can now use customized logic to help ensure quality control and regulatory compliance.

“The rules created with the module can assist with loan product selection, loan eligibility, loan validation, custom underwriting conditions, private mortgage insurance pricing, interest rate pricing and workflow,” FICS stated. “This automation of business rules and logic represents a measurable advantage for all employees.”

An integration was announced in November between NetOxygen LOS provider Wipro Gallagher Solutions and MortgageDaily.com advertiser Mortech Inc. The alliance enhances pricing capabilities on NetOxygen.

The MIRACLE Online electronic document preparation system was integrated into Mortgage Builder Software’s LOS, a news release said. In states that require attorneys to prepare closing documents, the integration reportedly enables direct downloading of closing documents from MRG’s in-house attorneys.

Southfield, Mich.-based Mortgage Builder said in October that its LOS platform was upgraded to include digital document management. Earlier that month it announced the successful completion of the SAS 70 Type II audit process.

Associated Software Consultants’ PowerLender LOS has been integrated with the Guardian Mortgage Document platform, LenderLive Network Inc. reported. The alliance leverages the latest MISMO 2.6 specifications. First Eastern Mortgage Corp. has already signed on to take advantage of the integration.

The release of Point and PointCentral 7.3 combines the latest technology with required functionality for marketing, prequalification, origination and processing, a recent press release from Calyx Software said. The updates address new mortgage compliance requirements and improve the screens for Good Faith Estimates, Truth-in-Lending Act disclosures and HUD-1 statements.

The Mercury Network was integrated into Calyx Point, a Nov. 9 announcement indicated. Calyx users can order appraisals through the new connection.

A few weeks earlier, an alignment was announced between Calyx and Loan-Score Decisioning Systems. That relationship was expected to provide users with access to automated pricing and underwriting for each investor as well as FHA eligibility decisions.

The Calyx Network has been expanded to include MortgageDaily.com advertiser Global DMS Connect, Credit Repair-Lexington Law and Old Republic Credit Services. Calyx LOS clients can now directly connect with the added service providers.

The Movation Business Management Platform was integrated into DataTrac, Motivity Solutions and Del Mar DataTrac Inc jointly announced. Prior to that, Del Mar reported that its rules-based workflow automation platform DataTrac was integrated with Fannie Mae’s EarlyCheck service.

NetMore America was added to Encompass360’s Select program, Ellie Mae announced.

“This integration enables NetMore America to engage in a unique two-way communication providing real-time pricing information to preferred Encompass360 users who are approved to do business with NetMore,” Ellie explained. “Once the borrower’s information is input into the Encompass360 system, it is matched against NetMore’s pre-determined loan criteria and pricing results are automatically presented on the user’s Encompass360 screen.”

In November, Xetus announced that Community First Bank, Cleveland Selfreliance Federal Credit Union and Coloramo Federal Credit Union all signed on as customers. The institutions are utilizing the XetusOne loan origination platform, which operates as software-as-a-service, or SaaS, and is priced on a pay-as-you-go, per-loan basis.

Before that, Avista Solutions announced it was awarded a contract with South Central Bank to use its LOS.

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