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Mortgage Technology Activity

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Mortgage technology continues to expand as innovators launch new offerings. Among the latest activity are new services that help prevent mortgage fraud, predatory lending and bad appraisals.

iMortgage Services LLC revealed the iMS PropertySmart platform, which will enable lenders to have more flexibility with managing the settlement services needs of loan origination and loss mitigation in line with the requirements of the GSE Home Valuation Code of Conduct.

Kroll Factual Data announced its release of ActionFacts, a service that will allow the company’s clients to compare data for employment and income information of their applicants.

“Our innovative, knowledge-based risk assessment engine imitates human problem solving by accessing a database of proprietary fraud-trending knowledge which is collected, compiled and maintained by mortgage fraud experts,” Senior Vice President Dave Vinson said in the press release.

Loan search and pricing services provider SearchMyLoan.com announced today its recent partnership with Icon Residential Capital, allowing Icon’s loan services to be more accessible via SearchMyLoan’s platform.

Zaio Corp. announced Monday the release of the Propertywise Qualified Appraisal Program, a new technology platform that GMAC ResCap recently agreed to use for particular mortgages bought through its Homecomings Financial wholesale channel.

“The Propertywise Seal of Approval indicates the appraiser independence and quality required for lenders and investors to have confidence in the value,” Zaio CEO Thomas Inserra said in the press release.

Interthinx Inc. announced last Wednesday its PredProtect will help lenders when it comes to loan variation because of regional differences in temporary conforming loan limit changes.

“The recent changes to the conforming loan limits will only help consumers if lenders are able to quickly respond without violating anti-predatory lending and other fair lending laws,” Kevin coop, president of Interthinx, said in a press release statement. “PredProtect is uniquely positioned to meet that need right away.”

Market research consultant iEmergent was launched to match lending qualities with the appropriate market. The Des Moines, Iowa-based company offers analytical products to lenders to help them make accurate predictions, measurements and comparisons in the mortgage industry.

DocuSign announced a week ago that it has completed more than eight million electronic signatures since its origination just three years ago. Success with the eSignature service was attributed to immediate profitability improvements without up-front capital investments in “uncertain times.”

Reverse Mortgage Solutions, a Houston-based company that began its services in the middle of last year, has already grown its servicing portfolio to more than 4,000 loans and projects further growth in 2008. One technical advantage the company uses is document imaging, and Chief Operating Officer H. Marc Helm said in statement that every loan handled gets imaged in order to make the servicing process go more smoothly and accurately.

The PowerDOX Media Branding and Marketing Program, which enables originators to provide borrowers their loan documents on a CD or DVD, has been released in a Spanish version available for $50, SourcingPoint Solutions announced. Documents are accessible through a customized interface bearing the originator’s company name, logo, and contact information.

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