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Mortgage Technology Improves

 

Mortgage Technology Improves

Recent mortgage technology activity

September 6, 2007

By COCO SALAZAR

photo of Coco Salazar
Mortgage technology providers have enhanced their products with new features as well as integrated services from other vendors. New services added to one technology service contract are projected to save that customer as much as 45 percent.

LendingGateway.com announced it will increase its lead generation by using e:visibility to for search engine optimization.

U.S. Bank Institutional Trust & Custody adopted the technology of CacheMatrix Holdings LLC’s trading portal — U.S. Bank Cash Solutions Portal, according to an announcement.

SunTrust Banks Inc. purchased a license under the patent portfolio held by Ronald A. Katz Technology Licensing L.P. The nonexclusive license covers services offered by SunTrust in the “Financial Services Call Processing” field of use such as customer service via automated systems and live agents, according to a news release.

CardIt LLC was launched to enable lenders to collect mortgage payments by credit card, according to a statement released today. The Web-based service claims to be “the only service that offers online mortgage payments to consumers with Visa, MasterCard and Discover.”

Silanis Technology announced it will be touting its e-signature technology at the Mortgage Bankers Association Document Custody conference this week in San Antonio.

US Technology announced that “a major provider of settlement services to the mortgage lending industry,” added appraisal, vendor management, and post closing work to its three-year agreement signed earlier this year. Cost savings through the expanded outsourcing is projected at up to 45 percent.

The credit reporting services of Kroll Factual Data are now available through eMagic, a service-ordering platform. Kroll’s Bureau Express merged credit report includes a four-hours-or-it’s-free guarantee on trade line updates and verification requests, according to an announcement.

Kroll also announced that it expanded its suite of risk assessment services with the release of FullFacts. The service determines the risk of potential misrepresentation of broker, appraiser, loan officer, closing agents and the other participants involved in a mortgage loan transaction by seeing whether any of them are included on exclusionary and compliance lists.

CINCO Family Financial Center Credit Union selected Lending Solutions Inc. to utilize streamlined the application processes with automated approvals and loan decisions, and 24-hour underwriting support for loans that fall outside CINCO’s automated guidelines.

Colonial Bank implemented the product eligibility and pricing technology of Optimal Blue. This eliminates the need for loan officers to manually go through rate sheets and enabling continually updated pricing on Colonial’s 450 loan programs and guidelines for additional investor programs in a matter of seconds, Optimal announced.

Financial Industry Computer Systems Inc. said it added a mortgage insurance interface to its residential mortgage loan origination system, Loan Producer. The interface enables lenders to submit data to receive mortgage insurance commitments and updates for primary insurance requests from any mortgage insurance provider that offers a Web service compliant with MISMO.

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