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TechmortgagyMortgage technology activity

March 12, 2008

By SAM GARCIA

Cross product integration was dominant among the latest mortgage technology advances. One new offering projects defaults by zip code while another automates the initial disclosure process.

Calyx Software added five title firms and one down payment assistance provider to its Calyx Network, a press release said. The transaction platform is integrated into its Calyx Point 5.2 and higher loan origination system.

Triad Guaranty Insurance Corp.’s mortgage insurance programs are now available through Fiserv Inc.’s UniFi PRO LOS. UniFi is reportedly compliant with the Mortgage Industry Standards Maintenance Organization, or MISMO.

Speaking of MISMO, the not-for-profit subsidiary of the Mortgage Bankers Association finalized and posted demonstration examples based on its version 3.0 architecture, MBA announced. The conversion from version 2.0 is an effort to develop a common architecture and logical model promoting a centralized view of the mortgage transaction and providing explicit contexts and definitions for usages and terms.

Disclosure Manager was launched today by Wolters Kluwer Financial Services, according to an announcement. The new customizable service, which integrates with existing LOSs, securely automates the entire initial disclosure process, including digital signatures, and creates a verifiable audit trail. One available feature prompts Wolters Kluwer’s operation center to send out printed disclosures if the loan applicant doesn’t complete the digital signature or request paper disclosures.

First American CREDCO said a launched CONNECT Web services technology, a secure electronic interface for the company’s credit, compliance and fraud management services. The new offering features document embedding, complies with MISMO and enables the company’s services to be integrated into loan origination, processing or automated underwriting system.

Informative Research announced Credit Advantage, a new feature in its credit reports that places all three credit scores in a table on the first page of the credit report. The new format enables quick identification of the middle score without having to review individual credit items.

The Garden Grove, Calif.-based agency also launched a credit report designed exclusively for reverse mortgages. The new report consolidates FICO scores, mortgage-related tradelines, collections and employment data, alerts and a creditor information list.

HomeTrust Mortgage will utilize WebEx PCNow to access their company computer from a remote location or wireless device, an announcement said. The browser-based system is offered by Cisco.

InsideValuation Inc. announced it has partnered with IFE Group to provide a hybrid tool that assesses the rate of default in a particular zip code for up to 12 months out. The default projective index, which reflects the behavior of local median home prices, is based on econometric and demographic variables relating to property location, such as median home price, median household income, affordability, unemployment and rent-versus-price ratios.

BB&T Corp. will utilize Fidelity National Information Services Inc.’s Advanced Commercial Banking Systems and DataMart solutions to automate commercial originations, servicing, trading, settlement and reporting, the two companies announced.

The National Association of Mortgage Brokers announced its online education program was expanded through an affiliation with TrainingPro. NAMB members will receive a 20 percent discount on more than 100 Internet courses and be able to access the completion certificates immediately.

Bradford Technologies Inc. has integrated the Apex v4 Medina sketcher from Apex Software into its ClickFORMS appraisal software for mutual customers of both companies, a joint press release said.

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