Mortgage Daily Logo
mortgage news from industry experts

Digital Pricing, Closings and Compliance


Digital Pricing, Closings and ComplianceRecent advancements in mortgage technology

August 29, 2008


Recent mortgage technology improvements have been concentrated in loan pricing engines, closing services and mortgage compliance. But appraisal and servicing technology has also been enhanced.

Georgia-based Brand Mortgage has signed on as a customer of Sollen Technologies, according to a statement Tuesday. Brand will utilize Lender Online, a loan pricing and pipeline management tool. The move will reduce time searching through investor products, reduce errors and improve loan pricing.

Management consulting firm Mortgage Banking Solutions issued an announcement Wednesday endorsing PriceMyLoan. The ability to combine live credit, product and pricing data were cited among PriceMyLoan’s key attributes. In addition, the loan search engine increases funding ratios. announced Monday that California-based CMG Mortgage Services has joined its network of wholesale lenders. In addition, CMG’s Home Ownership Accelerator — which combines checking accounts, mortgages and home-equity lines-of-credit into a single account that automatically applies all deposits to the loan daily to save mortgage interest — will be offered on

Bay Docs Inc.’s reverse document preparation services have been integrated into Reverse Mortgage Solutions’ LOS, RM-Compass Loan, according to a recent statement. The alliance eliminates duplicate entry for home equity conversion mortgage transactions. RM-Compass users can also order reverse mortgage application kits through the alliance.

Flagstar Bank is utilizing electronic notes on conforming loan with Fiserv Inc.’s e-lending platform, an announcement Tuesday said. The digital document is used in signing, closing and post-closing processes. eNotes are automatically registered with the MERS eRegistry.

The newest release of ConformX has been launched by Docutech Corp., a statement Monday said. The updated version increases automation and reduces the number of screens needed to complete closing documents online. Data is pulled directly from the loan origination system and run through data integrity, high cost and predatory lending checks.

Nations Signature Closers Inc., which provides notary services, attorney signings and property information services, has implemented Encomia’s eDisclosures, a press release Tuesday indicated. The enhancement will speed up the application process and increase origination capacity.

First Close announced last week it has developed integrated technology with Appro to provide access to multiple settlement services for Arizona State credit Union. The new service digitizes the ordering of flood zone determinations, automated valuation models and junior title policies.

SignatureOne Ceremony Server software has been incorporated into some of CSC’s banking systems, an announcement last week said. The integrated offering, hosted as software-as-a-service, will enable the rapid deployment of fully paperless transactions.

RegulatorConnect and RegulatorDirect have been released by ComplianceEase, a news release last week said. The new offerings will help state-regulated mortgage lenders and banks automate the regulatory examination process. Data is electronically transferred to regulators through RegulatorConnect, while compliance audit reports are digitally delivered utilizing RegulatorDirect.

Wolters Kluwer Financial Services’ Red Flags solutions have been endorsed by the Alabama Bankers Association, California Bankers Association, Community Bankers Association of Illinois, Independent Community Bankers of America, Texas Bankers Association and Wisconsin Bankers Association, a statement Tuesday said. The services help mortgage lenders comply with the FACT Act Red Flag Rules.

iMortgage Services LLC reported last week that it released its Tier3 comprehensive collateral re-evaluation report. The offering utilizes a three-stage valuation process that includes an analysis of historical market context and appraiser input to determine a property value at a given point in time. The final analysis, which can include two separately focused field inspections, provides a critique of the original appraisal.

Appraisal management company AppraiserLoft has become the preferred appraisal management firm for TeraVendo Inc., an announcement last week indicated. A portal for AppraiserLoft has been added to TeraVendo’s free LOS, LoanAce.

Financial Industry Computer Systems Inc. said last week that Mortgage Servicer, its residential servicing system, now provides direct reporting to Ginnie Mae’s new reporting and feedback system. Ginnie’s new system is being implemented under its business process improvement initiative to streamline the monthly reporting of remaining principal balances, pool accounting data and loan level data.

An announcement last week from Cogent Economics indicated its ServicingQC.NET helps servicers monitor up to 100 processes. The new application enhances the ability of servicers to integrate with other service providers.

Lenders One Mortgage Cooperative has turned to to provide its members with Web site design, local search marketing and search engine optimization, the St. Louis-based alliance said last week. The services, which are generally too costly for small- to mid-sized mortgage bankers, also include e-mail marketing, banner advertising and paid search engine placement.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts