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Many Compliance Enhancements to LOS Offerings

Mortgage News

While developers of loan origination systems have been busy integrating the offerings of other mortgage service providers, they have also been diligent about addressing upcoming mortgage rules.

The Fall release of Encompass was announced last week by Ellie Mae. The update addresses compliance with the Ability to Repay rule and Qualified Mortgage eligibility.

Other enhancements address additional compliance requirements, multi-channel workflow configuration and management of loans guaranteed by the Department of Veterans Affairs.

The Encompass TPO WebCenter expands its visibility and communication options for lenders and their third-party clients, and the : Encompass Product and Pricing Service updates include ATR/QM support for discount point calculations and convenient links to investor guidelines.

An announcement last month indicated that CoreLogic Credco has become the first to offer e-signature for 4506-T requests on the Encompass360 platform.

Also last month, Direct Valuation Solutions Inc. said its cloud-based valuation fulfillment platform is now available through Encompass360.

Earlier this year, Radian Guaranty Inc. announced that its services were integrated into Pleasanton, Calif.-based Ellie’s Encompass360.

New clients this year for Ellie, which is a Mortgage Daily advertiser, include Union Mortgage Group and Monona State Bank.

The Calyx Network has been expanded with an interface update, a news release Wednesday said. FirstClose is the newest mortgage service provider included in the network.

Other recent additions to the Calyx Network include TRV Services, LoanLogics Inc. and Appraisal Logistics.

A Sept. 12 news release from Dallas-based Calyx, which is also a Mortgage Daily advertiser, indicated that an integration between Calyx Point and National Credit-Reporting System Inc. streamlines the income verification process.

Calyx released Point 9.0 in August.

“This latest release gives users a definitive way of determining whether a loan is a Qualified Mortgage per the Consumer Finance Protection Bureau,” the Aug. 8 statement said. “The CFPB’s final rule goes into effect on Jan. 10, 2014, and Point 9.0 provides quick and accurate QM findings that ensure compliance with the rule.”

The Common Origination Platform was selected by Old Point National Bank to meet its consumer and business lending needs, Fiserv announced last month. Fiserv noted that the platform is a single-platform solution that gives lenders a holistic view of their borrowers across all lending channels and products. Old Point has reportedly been a Fiserv client since 1996.

A month earlier, The First National Bank of Long Island signed on for Fiserv’s platform.

A press release this past summer said that Essent Guaranty was integrated into FICS Loan Producer utilizing the MISMO Mortgage Insurance Interface. The integration promises to make it easier for users to order mortgage insurance.

Lean Lending — a technology strategy that enables lending entities to streamline processes, ensure compliance and drive continuous organizational improvement — was announced Wednesday by LendingQB. The service utilizes a holistic approach to lending comprised of streamline internal processes, compliance adherence and ongoing organizational improvement.

Lean Lending users are promised that personnel costs will be “dramatically” reduced.

In September, LendingQB announced a joint interface between its LOS and idsDoc, while an integration was announced with DocuTech Corp. in July.

An Aug. 29 announcement from LendingQB said that Venta Financial Group Inc. “experienced stellar results since implementing its browser-based end-to-end loan origination system.”

Blueberry Systems LLC said last week that several advanced Kroll Factual Data product were integrated into its Relay enterprise LOS. The integrations will help Blueberry clients better comply with Fannie Mae’s Loan Quality Initiative.

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