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A new mortgage technology offering will help mortgage brokers and lenders avoid steep penalties for noncompliance with a new rule to be implemented later this year. Other innovations include a loan pricing solution that has incorporated mortgage insurance searches, digital document enhancements and improved servicing technology.

But first, Financial Industry Computer Systems Inc. issued a statement touting the success Kirtland Federal Credit Union has had since implementing FICS’s services in May 2007. A Kirtland executive was quoted as saying that the system enables him to easily monitor the loan portfolio, ensure accurate servicing and move loans from the front-end origination process directly into the servicing system. The system has also helped the credit union increase loan volume.

Loan-Score Decisioning Systems and Del Mar DataTrac said last week they have collaborated to provide a seamless integration for their mutual mortgage banking customers. Loan-Score provides pricing and automated underwriting solutions, while Del Mar offers a loan origination system.

Pinnacle Capital Mortgage Corp., a wholesale lender that launched in January, will utilize Loan-Score’ decisioning solution, an announcement today said. The offering will reportedly enable Pinnacle to automate product eligibility, pricing and underwriting approvals at the point-of-sale for mortgage brokers.

Mortgage brokers can now search for mortgage insurance products using SearchMyLoan.com Inc., a press release yesterday said. The new feature determines whether mortgage insurance is even available for a particular loan scenario and identifies which mortgage insurers will write the policy.

SearchMyLoan.com was among 10 service providers to join the Calyx Network, Calyx Software reported Tuesday. The others were Bundled Services, RealEC Technologies, Product and Pricing Engine, Title Reports, Mortgage Connect LP, Internet Services, LOAlert.com, Credit Reports and Equifax Web Services.

First American CREDCO announced Tuesday that its new Red Flag Solution enables originators to comply with the Red Flags Rule, which went into effect Jan. 1, 2008. The offering includes mortgage fraud analysis, identity verification and a pre-qualification credit tool.

“As a requirement of the new Red Flags Rule, lenders and brokers have until Nov. 1 of this year to establish and maintain an identify theft prevention program,” the announcement said. “Lenders and brokers can face steep penalties for non-compliance.”

ServiceLink customers are raving about the iClose web-based closing product, an announcement Monday said. iClose enables a borrower to physically sign only a limited power-of-attorney, then sign the rest of the closing documents online. The digital signatures are backed up by a recorded phone conversation.

“Our customers that choose iClose are very satisfied with the process,” one customer was quoted as saying. “This is the smoothest transaction I’ve ever done,” said another. A third was quoted as stating, “More people should go with this.”

eClipse, a new document management system is an all-in-one platform supporting recordation of real estate, court, vital records and miscellaneous documents, has been launched by Landata Technologies Inc., a news release Monday indicated. The new product includes a multi-user examination module for reviewing real estate and court eRecording packages at the courthouse. It also has redaction capability supporting interactive and batch processing.

Just Price Solutions automates situational analysis to give financial counselors, loan servicers and government stakeholders tools to better communicate through the Internet and quickly implement viable solutions for borrowers, Neighborhood Housing Services of America announced Tuesday. The tool incorporates the foreclosure market factors affecting the community.

Lender Support Systems Inc. announced last week that it was ranked among the top three loan servicing software vendors by NeighborWorks America in their recently released Loan Origination Systems and Loan Servicing Systems Comparison Study. The ranking was based on vendors that offer the best balance of features, price and ease of use.

Response Analytics said last week that First American Subordinate Lien Outsourcing will utilize its distressed portfolio management solution to support its forward-looking technology strategy. The solution combines software and services and uses optimization-based technology to provide continuous portfolio valuations and optimal recovery rate recommendations matched to appropriate collection channels.

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