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| Marketing, commercial loan servicing and foreclosing were among the latest functions to move into the digital age. Meanwhile, technology vendors continue to jostle for mortgage customers and banks continue to make their offerings available on smaller devices.
Informative Research announced it has completed over 20 million Fannie Mae transactions in December. During just last year, the company said it processed more than 3.5 million transactions. The 20 million milestone occurred after 10 years of providing originators with digital credit reports through Fannie’s MORNETPlus system. Informative Research separately noted it has expanded its services to include background screening to include social security traces, credit history checks, motor vehicle records, criminal histories and employment eligibility statuses. Sollen Technologies touted a new customer in an announcement today. Assured Mortgage, based in Wisconsin, has abandoned printed rate sheets and multiple Web sites in favor of Sollen’s loan pricing and pipeline management tool, Lender Online. Among factors leading to its decision were wider choices, more lenders and the ease with which Sollen could add new wholesale lenders. A free trial period was also a key factor in Assured’s decision, the statement said. MRG Document Technologies and Encomia announced a partnership where users can obtain secure e-disclosures that can be electronically executed. Encomia claims it enables mortgage companies to convert their entire processes to digital format. CitiMortgage extended its it affinity agreement with PCLender, a press release today indicated. PCLender said its customers will now have access to pricing incentives, prime and nonprime product offerings and CitiMortgage’s forms. “PCLender combines as many as eight key components of the loan origination process in a seamless configuration that fully supports complex compliance requirements and offers an ideal data security environment,” PCLender said in the statement. Mortgage companies can provide customers with required loan documents and forms through compact discs or DVDs enabled through PowerDOX from SourcingPoint Solutions. In addition to consolidating all of the documents into one source, the offering helps promote the lender by professionally displaying the originator’s name, photo and company information throughout the user process, according to an announcement. Agricultural mortgage servicer Trust Financial will utilize Ocwen Financial Corp.’s REALSynergy servicing platform to manage its $696 million portfolio, according to an announcement Thursday. The Windows-based system reportedly works with most loan structures, stores all information in a single repository and provides a flexible, customizable interface. ProVest announced “five leading servicers,” including top-10 servicers, have signed on to utilize its foreclosure process tracking service. “Within just a few hours all parties know where and when the papers were served, where the homeowner is physically located and what information was disseminated,” ProVest stated. Verizon Wireless customers now have access to Wachovia Corp. banking and bill paying services through their mobile devices, an announcement Thursday said. Users download an application from Firethorn Holdings, then use a personal identification number to launch the application to securely check balances, monitor account activity, pay bills, and transfer funds. Among the acceptable devices are Verizon’s Chocolate and enV by LG, LG VX8700, LG VX8600, LG VX9400, and the Samsung SCH-a950. More phones will be added over the coming months. Mortgage brokers interested in originating commercial deals are being courted by Commercial Mortgage Teacher. The company is offering a online video package on YouTube that reportedly discussed the commercial loan brokering process and promotes a net branch arrangement with Crossover Commercial Capital. |
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