|Several mortgage technology applications have been updated and enhanced.
Version 10.0 of vLender.com’s Mortgage Web site & Online Marketing System was released late last month, a statement said. The updated version provides online utilities for collaboration between multiple industry providers, business partners and customers. In addition, it includes an improved dynamic content management system that provides corporate, branch offices and loan originators with as much personalization and customization as possible while guaranteeing brand stability and corporate and regulatory compliance.
vLender.com reported its new customer growth was up 35 percent in August from July.
i3 Solutions claimed in an announcement earlier this month that its Score Optimization System was able to boost a 454 credit score within three months to a high enough level that the borrower was able to close on an FHA loan.
Fiserv Inc. issued a press release on Sept. 2 that said Moody’s Economy.com home price forecasts have been incorporated into the CASA Automated Valuation Model. The enhanced forecasting capability combines the Fiserv Case-Shiller Home Price Indexes with Moody’s macroeconomic and regional economic models and reflect Moody’s Economy.com’s current outlook for hundreds of economic variables, including interest rates, demographic trends and labor market conditions.
Fiserv said the new partnership with Moody’s creates the industry’s first AVM tool with extensive predictive capabilities.
Computerworld reported that Freddie Mac will go live this fall with its third generation of Loan Prospector. The updated version will enable Freddie to more easily update the software whenever terms and conditions need to be changed.
CT Lien Solutions has enabled its mortgage document processing system to handle commercial, partial and residential lien releases, a statement today said. The updated offering enables users to avoid workarounds and internal paper-pushing and allows them to reduce data entry by re-using relevant information.
Well Fargo & Co. said in a recent announcement that self-administration features of its CEO Mobile service have been extended. In addition, users can now initiate and approve federal tax wires using their mobile device.
Wells, which said it is the only major U.S. financial services company offering browser-based mobile banking for corporate banking customers, noted it improved its unique service to include the ability to manage and decision potentially fraudulent ACH transactions, view even more balance and reporting information, and enable company administrators to reset users’ passwords earlier this year.
Three patents for Cypher System have been issued by the U.S. Patent and Trademark office to Sourcetec Inc., a news release earlier this month said. The system enables financial professionals — including certified public accountants, financial planners, insurance agents and real estate agents — to originate mortgages The patents have been licensed to Wymac Capital Inc.
A Sept. 4 announcement from RynohLive indicated it performs ongoing transactional verification for settlement agents and banks, reducing opportunities for fraud, error and omission. Current industry practices of 30-day account reconciliation costs settlement agents tens of thousands of dollars as interest accrues on monies that they have failed to track, and RynohLive said it helps prevent losses.
7 Refinance Strategies
Refinance to a lower interest rate: If interest rates have dropped since you took out your original mortgage, refinancing to a lower rate can help you save money on your monthly payments and reduce the overall cost of your loan. Refinance to a shorter loan term:...