LOS Offerings Enhanced by Compliance Features

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Developers of loan origination systems are loading up their offerings with mortgage compliance features. Three LOS firms have teamed up with appraisal firms, and LOS alliances were also announced with loan documentation providers.

Byte Software announced yesterday that its customers can now order compliant and warranted valuation products from AppraiserLoft through the BytePro LOS. The partnership enables originators to maintain compliance with the Home Valuation Code of Conduct and Federal Housing Administration appraisal regulations.

Byte made its announcement as the Mortgage Bankers Association kicked off its National Technology in Mortgage Banking Conference & Expo in Chicago, which runs until tomorrow.

In another statement yesterday, Byte touted a partnership with Lender Support Systems Inc. that will enable LSSI’s documentation services to be ordered directly from its LOS. A third press release from Byte announced alliances with 10 other mortgage industry service providers that provide appraisal valuations, credit reporting and flood determinations. And last month, Byte announced a partnership with StreetLinks National Appraisal Services.

Appraisal management company Service 1st Valuation and Settlement Services Inc. said in February that it joined the Ellie Mae Network and is now available to Encompass360 customers.

SharperLending LLC’s Appraisal Firewall product has been integrated in Calyx Point, an April 19 announcement indicated.

Calyx said in February that Old Republic Credit Services and First American CoreLogic had joined the Calyx Network.

Dorado Corp., a developer of high-end LOS technology, said last month that it has negotiated a deal with The First American Corp. to combine technologies and create a cloud computing-based transaction platform to enable financial institutions to “access key data and analytics from third parties and perform unique analyses that can be bundled with loan information to ensure compliance, data quality and process transparency.”

A March statement from DocuTech Corp. touted new partnerships with three “key LOS providers” including Commerce Velocity and www.blueberrysystems.com. But the Web site of the other LOS provider — www.gogallagher.com — was not functional as of today.

Dexma Inc. said in a statement last week that it now offers the “first and only paperless solution for mortgage document management that supports the entire mortgage lifecycle for correspondent and wholesale channels.” The system is fully integrated into its LOS.

A March news release from Caliber Funding LLC indicated that its proprietary LOS — H2Online.com (don’t try to find it at www.H2Online.com) — now includes an originator-forms feature that enables compliance with mortgage regulations. Caliber provides the technology to its mortgage broker customers.

Two months ago, PCLender.com issued a news release touting the successful rollout of the new RESPA-required Good Faith Estimate disclosure and HUD-1 settlement statement in its LOS offering, InHouse Mortgage, well ahead of the Jan. 1 deadline.


Mortgage Daily Staff


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