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Technology Improves Originations

 

Technology Improves OriginationsRecent mortgage technology activity

May 13, 2008

By SAM GARCIA

A number of electronic offerings promise to improve the marketing and origination of conventional and government loans. Other advancements in mortgage technology include the integration of digital documents and signatures, easy compliance with upcoming appraisal changes and the adoption of browser-based loan document preparation.

Calyx Software’s newly released Point and Point Data Server versions 6.1 includes a new loan status checklist and the integration of initial disclosures, closing documents and hazard insurance categories, according to an announcement last week. Calyx also noted marketing tools have been expanded that enable users to create personalized letters, newsletters, promotional e-mails and mailing labels.

Originators of loans insured by the Federal Housing Administration can identify markets where FHA activity is expected to spike through the FHA Purchase Forecast announced by iEmergent. The Des Moines, Iowa-based said its products produce purchase mortgage conversion rates, determine the FHA market size and analyze a number of different metrics.

PCLender.com Monday boasted about ten mid-sized mortgage bankers and financial institutions that recently implemented its InHouse Mortgage enterprise lending platform. The platform’s ten modules include marketing, origination, closing, secondary marketing, warehouse-line management and loan level reconciliation. A fully hosted system reportedly enables data security with SAS 70 Type II certification, real-time compliance updates, risk-management monitoring and enterprise performance reporting.

Mortgage originators at Hollander Financial will utilize SearchMyLoan.com to find wholesale loan programs and pricing, a press release Monday said. Hollander, which noted it is “one of the largest financial institutions in Southern California,” also offers its prime, FHA and ALT-A wholesale programs on the product search platform.

A strategic partnership between eLynx and Interlink Electronics integrates digital documents with electronic signatures, the two companies announced. eLynx, which claims it generated 12 million contracts for more than 600 financial institutions last year, and Interlink, which has reportedly enabled 750 million digital signatures, said the alliance will enable significant cost savings and increased efficiencies.

First Houston Mortgage will use MRG Document Technologies for browser-based document preparation, management and closings, the two companies announced. First Houston said its electronic origination capacity will be enhanced by MRG’s intelligent bar codes that are placed on individual loan documents, enabling image-ready closing packages.

FNC Inc. announced its Collateral Management System enables “top U.S. mortgage lenders” to comply with Generally Accepted Appraisal Rules established between the New York attorney general and Fannie Mae and Freddie Mac. Appraisals that run through FNC’s system, which is available online, are flagged for potential violations.

Technology provider LenderLive Network Inc. announced it revamped its Web site and narrowed its focus to five areas. In addition to customized applications, LenderLive provides Web sites for retail and

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