Tackling The Increased Compliance Burden

We all know that the compliance burden is increasing. As a result, core LOS systems have to step up, and some are doing just that. For example, Blueberry Systems has launched RELAY 3.0, a new product release designed to help mortgage lenders prepare for future compliance requirements and thrive in the changing origination landscape.

The new enterprise version of its flagship loan origination system was made available to clients beginning the week of April 7th. Key tenets of the new version include improved compliance validity, adaptation of social media principles to foster workflow, and preparation for larger scale cloud computing offerings.

Referring to the forthcoming changes to RESPA scheduled for implementation by the industry in August 2015, Wil Armstrong, President and CEO of Blueberry, said, “It’s hard for me to believe another big change is just around the corner. It was important to all of us at Blueberry to set the stage for another successful adoption of the next phase of industry compliance.”

RELAY 3.0 includes new and re-certified services across its vendor platform and continues the company’s tradition of not adding a surcharge or toll to use this functionality. “We’re creating a cost-effective approach for our customers to access the services and data they need to operate efficiently. We don’t add extra expense on the backs of our customers or their borrowers,” Armstrong said.

Many of the new features in RELAY 3.0 have their roots in social media. Blueberry went to great lengths to create the type of user experience that made sense and one that users didn’t need to spend weeks learning how to use. The company believes this helps speed up adoption and implementation.

“We believe our approach to simplify the user’s experience with concepts like our Heads-Up Display, customizable Dashboard Widgets, Events and Key Dates, or Messaging makes it easier for a user to know what’s next in their workflow. Our team developed a more intuitive and pervasive approach to an enterprise application,” Armstrong added.

Blueberry has built out the foundation and framework in RELAY 3.0 for next generation applications that include portals and business intelligence dashboards for multiple loan constituencies. These include customizable modules for executives, loan originators, borrowers, real estate agents, title companies, wholesale brokers, and correspondent lenders.

In addition, the underlying changes to its architecture — led by new CTO Darren Shaffer — have improved performance and scalability of the application, created a new level of extensibility through enterprise interoperability services (service-oriented architecture), and set the stage for larger scale cloud computing offerings.

Armstrong went on to say, “having the right architecture and infrastructure in place allows our customers to integrate with the right vendors, communicate with the right parties in the loan process, scale and grow, and most of all manufacture compliant loans. Innovation still matters because real estate finance isn’t standing still.”

About The Author

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Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.