Cogent Road announced its Funding Suite credit management software automatically detects the underwriting conditions that will be required by Fannie Mae’s Desktop Underwriter and Freddie Mac’s Loan Prospector. The credit management software then translates the conditions into language easy for originators to understand.

Appraisals can be automatically ordered and confirmed through ServiceLink, according to a press release. Within minutes of ordering the appraisal through Vision SM system, the pre-selected appraisal appointment is automatically confirmed with the appraiser while the borrower is automatically called and the appointment confirmed. The process, which begins with the selection of an appointment time at application, reportedly cuts appraisal turnaround by four or more days.

A new alliance announced between First American Global Offshore Services and Graystone Solutions Inc. will give Graystone’s servicer customers access to global business process outsourcing solutions.

Flaherty Funding has reportedly implemented PriceMyLoan’s Private Testing Suite, an online automated underwriting and loan pricing system. PriceMyLoan’s ability to extract live credit report data was a deciding factor in Flaherty’s decision.

Flaherty Secondary Marketing Manager Margaret Leuwen noted in the announcement that it was extremely difficult for the company to continue pricing loans manually, with the process taking more than a half hour sometimes.

“In one instance, PriceMyLoan prevented a loan from reaching our pipeline where our investor’s engine would have approved it,” she said. “The difference was as small as a single thirty day late that the investor’s engine wasn’t catching. This type of mistake could have ended up costing us substantially as this was a very large multifamily property.”

First Mortgage Corporation of Arizona has abandoned lead providers by capturing prospective borrowers itself through a new Web site from Astonish Results, according to an announcement. The service provider’s company’s customer relationship management helped First Mortgage keep more previous customers using high end multimedia presentations to motivate them to apply.