Entries by Progress In Lending

Understanding The News: The 411 On Mortgage Fraud Trends

*The 411 On Mortgage Fraud Trends*
**Trends And Analysis**

***According to a report by CoreLogic, the fraud picture is mixed. The report says the industry’s overall fraud risk appears to have stabilized. After a 20% increase in 2009, the CoreLogic Fraud Index, an indicator of the relative level of fraud risk for the mortgage industry, remained relatively flat throughout 2010 and the early part of 2011. The level of fraud in mortgage originations for 2010 is estimated at $12 billion. Early indications based on the Fraud Index show that this trend is continuing for 2011.

January 2012: Grow Online

Randy Schmidt believes that the key to getting new business may start online. This issue also talks about how the mortgage industry can restore its tarnished reputation, fraud trends, cloud computing, and much more.

On The Move: High-Powered Executive Hires

*High-Powered Executive Hires*
**Brain Trust Matters**

***First, IndiSoft a technology development firm that provides software as a service (SaaS) solutions based on a collaborative rules-based workflow platform for the financial services industry, announced today that Earl Devaney has joined its advisory board. Devaney recently retired from the federal government after 41 years. He will advise IndiSoft on business development efforts and other company business based on his government financial expertise. Here’s the scoop on this hire and another hire on a prominent valuation provider follows:

Technology Spotlight: Now Is No Time To Crawl Toward UCDP Compliance

*Now Is No Time To Crawl Toward UCDP Compliance*
**Nationwide Property And Appraisal Services Profiled**

***Starting on March 19, 2012, for any loan originated on or after December 1, 2011, the GSEs will require that appraisal reports be submitted in a specific GSE-approved format, through their Uniform Collateral Data Portal. Nationwide Property and Appraisal Services has integrated GlobalDMS’ Global Kinex appraisal review and delivery technology as the foundation of its proprietary software to ensure full compliance with the Uniform Collateral Data Portal (UCDP) program. Here’s why they chose Global DMS:

Understanding The News: Perfecting Loan Validation Processes

*Perfecting Loan Validation Processes*
**Validating MERS Electronically**

***Aklero Risk Analytics Inc., a provider of mortgage quality control software and services via their automated data and document validity assurance platform, has unveiled DQx for MERS Data and Document Validation Module. The module is part of Q-Close, their Loan Quality Management Platform, and provides an automated method to validate the accuracy of data resident in the MERS Electronic Registry. Here’s what you need to know:

Understanding The News: Help Is On The Way

*Help Is On The Way*
**E-Appraisal Partnership Forms**

***ACI, a leading innovator in valuation technology for the mortgage industry, announced that StreetLinks Lender Solutions has integrated with ACI’s eServices, an appraisal delivery service to help ensure compliance with client/lender and investor requirements. eServices combines appraisal compliance and quality rules with electronic delivery as a standard feature accessible from the appraiser’s ACI desktop software. ACI’s approach helps ensure that appraisal data complies with both the Uniform Appraisal Dataset (UAD) and MISMO XML requirements before the appraiser completes the appraisal report.

Magazine Feature Story

*Integrity: The Biggest Challenge* **By Barbara Perino and Rebecca Walzak** ***Did you hear the one about the loan officer who, when attending a wedding, refused to tell anyone where he was employed for fear he would be asked to leave? All of us in this business have heard the jokes and suffered through the accusatory […]

Magazine Feature Story

*Market Ups And Downs* **By Ravi Ramanathan** ***Improbably there is a positive side to the rough ride the mortgage market has taken in the past few years. It’s not easy to find a silver lining in the cloud of record defaults and foreclosures that have hung over the market the past three to four years. […]

Magazine Feature Story

*A World of Opportunity* **By Sanjeev Malaney** ***With every crisis comes a potential opportunity. The 2008 financial crisis caused professionals and many businesses in all industries to rethink the way they were doing business across the board. Anytime that kind of shakedown occurs, changes are needed to get back on track by boosting efficiency and […]