Mortgage Daily Logo

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 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 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.

Related Posts

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

There is No Such Thing as a Free House …

Over the past several years, those who service loans in the State of Washington(1) have seen a dramatic rise in the number of lawsuits in which delinquent borrowers seek to quiet title to their homes on the grounds that lenders are barred from foreclosing based on...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Mortgage Servicer Portfolios

servicing news | mortgages outstanding statistics | foreclosure news   Servicing Portfolios as of 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 Residential Servicing Portfolios by Servicer Last Updated December 14, 2018...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Fannie Mae Profile

Last Updated December 27, 2018 7:38 PM Central   full list | other directories | bank search | SEC filings | execs | m&a | production   Government Takes Over Fannie, Freddie Sept. 8, 2008 The government has seized control of Fannie Mae and Freddie Mac. The move --...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Freddie Mac Profile

Government Takes Over Fannie, Freddie Sept. 8, 2008 The government has seized control of Fannie Mae and Freddie Mac. The move -- which is likely to push mortgage rates lower and provide a sense of stability for the more than 10,000 employees at both companies -- is a...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam