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Digital Mortgage Universe Expands


Digital Mortgage Universe ExpandsRecent mortgage technology activity

June 16, 2008


A reverse loan origination system has been launched, while an LOS for standard mortgages has integrated hazard insurance functionality. Other mortgage technology advancements include the addition of an Alt-A wholesale lender to a loan search engine, the implementation of automated underwriting for commercial mortgages and a legal truce between two credit reporting companies that has led to a credit scoring collaboration.

Customers of Calyx Software can now order hazard insurance through participating vendors through Point loan origination system, an announcement Wednesday said. In addition, originators can obtain insurance quotes.

The RM Compass LOS was rolled out by Reverse Mortgage Solutions, another statement Wednesday said. The Internet-based applications can be integrated with servicing components and accommodate the broad differences between originating conventional mortgages and reverse mortgages.

Wholesaler Prysma Lending Group LLC is now offering its niche programs on, a press release Wednesday stated. Prysma said its programs include ITIN, Alt-A, bank statement, conforming and FHA loans.

Digital signature capabilities have been added the Web-based BlitzDocs Collaboration Suite, Xerox Mortgage Services said Thursday. Once loan documents are signed online, they are securely managed and stored in an electronic vault. The electronic signature capabilities are licensed through eSign Systems.

The battle of the bureaus has tapered off, with Fair Isaac agreeing to dismiss Equifax Inc. as a defendant in its lawsuit against VantageScore LLC and the three national credit reporting companies, the two companies jointly announced last week. The statement also said that they have established a partnership which will leverage Equifax’s consumer credit data and Fair Isaac’s scoring technology to accelerate testing and roll-out the FICO 08 model for Equifax customers.

Trilogy Commercial Lending has implemented the first phase of Pinnacle IT Development’s commercial automated underwriting system for its small-balance commercial lending, a press release last week said. The Web-based AU system includes a prequalification function and a real-time pricing engine.

E-LOAN is utilizing Responsys to integrate its web site, search and e-mail marketing communications, according to an announcement Wednesday. The integrated marketing was first utilized by E-LOAN in March within minutes of the Federal Reserve’s interest-rate cut. The approach resulted in triggered e-mails and immediate updates to search-engine ads.

“This fusion marketing approach allows us to deliver the same message at the same time and then use what we learn in one channel to optimize the others,” E-LOAN Director of Marketing and Customer Retention Siara Nazir was quoted as saying in the statement. “By delivering a consistent and well-timed customer experience, we achieve higher conversions and improved customer engagement.”

LoanToolbox and PushMX Software announced a new partnership that integrates mortgage marketing campaign tools with origination workflow automation.


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