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LOS Providers Focus on Compliance

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Loan origination system service providers have been recently busy making enhancements to their offerings that help originators maintain compliance with a host of rules, regulations and requirements. In other LOS activity, a wholesaler has implemented a new system for the benefit of its broker clients.

Ellie Mae Inc.said that Prosperity Home Mortgage LLC has become an Encompass client.

The Chantilly, Va.-based lender, which previously operated as a joint venture between Long & Foster and Wells Fargo Ventures, decided to go with Ellie’s technology as it transitioned into a wholly owned subsidiary of Long & Foster.

“With all the new rules coming into effect in 2014, lenders need to be certain they are compliant,” Ellie Mae President and Chief Operating Officer Jonathan Corr said in the announcement. “Ellie Mae’s new comprehensive ATR/QM solution built into Encompass helps automate the process and deliver improved efficiency, loan quality and compliance.”

Also in January Ellie, a Mortgage Daily advertiser, said that Postal Credit Union signed on to utilize the Pleasanton, Calif.-based company’s LOS.

Equifax Verification Services recently said that its eSignature technology has been integrated into Encompass.

Another Mortgage Daily advertiser, Calyx Software, recently announced that Plaza Home Mortgage Inc. is utilizing its Point LOS for its wholesale lending business. Plaza hopes to streamline mortgage compliance by utilizing point.

“Loan application and fees data will automatically populate Plaza’s broker/TPO Portal, saving time and reducing possibilities for error,” the statement said. “For Point brokers and correspondents, there will no longer be a need to manually export a FNMA 3.2 file.”

AVANTUS IRS Direct and RexHub-Real Estate Exchange Hub have joined the Calyx Network, a recent news release indicated.

Fiserv said earlier this month that 27 financial institutions chose EasyLender Mortgage or EasyLender Consumer Commercial IDM for loan origination and processing during the past year. Faster loan approvals, enhanced service and easy closings were reportedly cited by many as the basis for their decisions. In addition to the new clients, another 200 existing clients reportedly renewed the contracts with the Brookfield, Wis.-based firm.

A Feb. 18 announcement from Mortgage Builder Software Inc. indicated that the Southfield, Mich.-based company recently celebrated its 15th anniversary. Mortgage Builder President and Chief Executive Officer Kevin Smith noted in the statement that compliance is among the service provider’s highest priorities.

Late last year, Mortgage Builder said that significant upgrades had been made to Architect, its flagship LOS platform.

“The upgrade, the second since its release, contains significant enhancements to address upcoming compliance requirements that go into effect at the start of 2014,” Mortgage Builder stated. “Among the multitude of enhancements, the release includes additional screens and automation to address point and fees testing, ATR/QM verifications and ECOA appraisals/valuations.”

Kroll Factual Data Inc. recently said that it made its Loan Review Report available through the Mortgage Builder LOS. The Loan Review Report was specifically designed to help lenders comply with Fannie Mae’s Loan Quality Initiative.

DocMagic Inc.’s services have been integrated into OpenClose’s LOS, a Feb. 2 statement said. OpenClose is online at

Originators can now order mortgage insurance from Radian Guaranty Inc. through INTEGRA’s Destiny LOS thanks to an integration announced in January.

In Dallas, Financial Industry Computer Systems Inc. reported last month that one of its existing clients, Tennessee Valley Federal Credit Union, added FICS’ Xcluso to the services it utilizes. Xcluso enables users to track and manage prospect through personal computers, iPads and Android-based tables.

Document management provider Axacore reported last month that its technology easily integrates with any LOS.

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