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Mortgage Technology Boom

 


Mortgage Technology BoomRecent mortgage technology activity

July 29, 2008

By SAM GARCIA

Some recent mortgage technology offerings promise to improve business and cut costs, while other digital advancements aim to improve wholesale lending operations.

BusinessObjects Enterprise Professional and Crystal Reports have been rolled out to users of Financial Industry Computer Systems Inc.’s loan origination system, according to an announcement Monday. The enhancements help users manage and deploy tools for reporting, query and analysis and performance management.

Ellie Mae has agreed to relocate and consolidate its information technology infrastructure into two SAVVIS Inc. data centers. The arrangement will reportedly reduce Ellie’s cost while enabling the LOS provider to synchronize data more efficiently. Ellie expects the move will improve the performance of its Encompass mortgage services applications.

MDA MindBox Inc. reported last week that StoneWater Mortgage, a new wholesale lender, will utilize ARTOptimize and Power Editor to manage loan product and pricing processes. Mortgage broker customers of StoneWater, which is managed by former executives of failed First Magnus Financial Corp., can submit mortgages online for loan approval decisions, qualifying conditions and alternative program recommendations.

Interthinx Inc. said today it added advanced name matching to its third-party review mortgage broker background check. The improvements overcome common variations associated with misspellings, transpositions, acronyms and nicknames. The platform enhancement will reportedly improve the accuracy of alerts and reduce false positive alert notifications.

FedFinancial Federal Credit Union recently adopted the outbound call center program of Digital Dialogue, a press release Monday said. The program helps welcome new members provide personalized phone calls, identify lead generation opportunities, conduct surveys and prospect inactive accounts for first mortgage loans.

CreditScoreQuick.com said last week that it launched a new blog which provides a series of free articles about how improve credit. The blog also helps prospective borrowers learn how to determine their credit score for free.

A partnership launched a year ago between EVault Inc. and Harland Financial Solutions Inc. has yielded 40 new customers for EVault’s Data Storage Solutions. The offering enables credit unions to back up their business-critical data, including all UNIX and Windows applications, databases and systems, to Harland’s enterprise services center.

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