Entries by Progress In Lending

Understanding The News: Automate Financial Reporting For Reverse Lending

*Automate Financial Reporting For Reverse Lending*
**LOS Ensures More Accuracy**

***It’s all about making things simple and easy. Technology should improve the process, not complicate it. To this end, PROGRESS in Lending has learned that Mortgage Cadence, LLC simplifies changes to the HECM program using the ACE Rules Engine’s rules-based configuration. As financial assessments of all reverse borrowers take hold throughout the reverse industry, more lenders are turning to Mortgage Cadence’s advanced technology to easily implement the necessary changes.

Technology Spotlight: What’s The Rush To Automate?

*What’s The Rush To Automate?*
**Bank of Oklahoma Mortgage Group Profiled**

***You may ask: What’s the rush to automate? If you want to ensure a compliant process you have to automate. Luckily some lenders are getting this message. For example, eLynx, a portfolio company of American Capital told PROGRESS in Lending that Bank of Oklahoma Mortgage Group is now processing loan documents on the eLynx Expedite platform. With Expedite, the bank prepares and delivers all loan documents to borrowers electronically, including electronic consent and signatures. Borrowers that do not provide an email address or decline the electronic delivery process will have their documents automatically printed and mailed using eLynx’s redundant and secure print-and-mail facilities. Loan officers never lose a document because this fail-safe offering that facilitates all borrower deliveries with comprehensive tracking and auditing capabilities.

iPad App

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Video Insights: Increase Origination Volume

*Thrive In A Down Market*

***At the ENGAGE 2011 Event presented by PROGRESS in Lending, lots of quality discussions and ideas were exchanged. For example, are you struggling to survive in a lending world with less origination volume? Help is on the way. We discussed new techniques and methods to ensure success. Our speakers for this panel included prominent lenders, vendors and consultants. Here’s what they had to say on this topic:

Understanding The News: Are You Safe?

*Are You Prepared For Cyber Threats?*
**Cyber Crimes Are On The Rise**

***The threat posed by cyber criminals has become an increasingly real and growing concern in mortgage lending, and one that has attracted the attention of Congress, as evidenced by recent hearings by subcommittees of the House Committee on Financial Services. Fighting cyber crime is becoming a priority for more parties than ever before, from the Department of Homeland Security to private firms and insurance companies. As former Homeland Security Secretary Michael Chertoff recently said, “People often ask how much of a threat this is. It’s not a threat – it’s actually happening.” Chertoff’s consulting firm says cyber criminals cause over $100 billion in mayhem per year worldwide, and some believe it has exceeded drug trafficking in dollar volume. Here’s how you deal with these criminals:

And The 2011 Winners Are …

Over 100 lending executives gathered for this very special event. What is our Innovations Program all about? First, let’s talk about what we’re not. We’re not the Academy Awards that showcases tons of finalists in tons of categories, with judges unknown to the industry telling you who wins and loses. Instead, we are the Good Housekeeping Seal of Approval.

Understanding The News: Credit Unions and Community Banks Search For Answers

*Don’t Credit Unions and Community Banks Deserve Help, Too?*
**Talking Loan Quality**

***As more community banks and credit unions beef up their mortgage presence, they need help. Mortgage isn’t their specialty and with all the new rules and regulations, it’s not easy. As a result, we are seeing new technology tools hit the market specifically designed to help this group. For example, PROGRESS in Lending has learned that Aklero Risk Analytics, a provider of automated data and document validity assurance, has unveiled DQx Scan, designed to meet the quality control needs of small lenders; particularly, community banks and credit unions.

Technology Spotlight: UAD Help In Demand

*Appraisal Assistance Needed*
**NREIS Profiled**

***Let’s face it, the appraisal space is changing. As the industry moves toward a more data-centric approach, lenders and others are looking for an automated approach. For example, PROGRESS in Lending has learned that National Real Estate Information Services (NREIS) is in production with Appraisal.com, an appraiser-facing portal that scrutinizes appraisal reports for completeness, correctness, consistency, and compliance.

Understanding The News: Joining With HUD

*Partnering Up With HUD*
**Emphasizing Loan Quality**

***As everyone talks about the new government program to get more underwater loans modified, here’s some more government news: Matt Martin Real Estate Management (MMREM), a provider of real estate services, including asset disposition, financial advisory, and mortgage loan loss mitigation services, has been awarded a multi-year contract with its prime contracting partner, STS-MAAG, to provide Mortgage Insurance Endorsement (MIE) processing services for the U.S. Department of Housing and Urban Development (HUD), Denver Homeownership Center (HOC).