We’re not necessarily looking to break technology news, but we are looking to put it all into greater context for you. Right now we’re hearing:

Secretary Of State Approves New Electronic Notary Solution Provider

The Office of Secretary of State Mark Martin has announced the addition of Pavaso, Inc. as an electronic notary (eNotary) solution provider for Arkansas. Pavaso is a digital closing platform that brings together homebuyers, mortgage lenders, real estate agents and title companies in one seamless collaborative portal to deliver a better closing experience for everyone.

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Nancy Pratt, Pavaso Vice President for Partner Relations and Government Affairs, said, “We are excited and enthused to be approved to provide eNotarization in the great state of Arkansas!  Homebuyers, Lenders and Settlement providers will all have an improved and outstanding mortgage eClosing experience because of Arkansas’s focus and support of the digital transformation!”

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The Arkansas Secretary of State’s Office has been commissioning eNotaries in Arkansas since 2013. Arkansas’ eNotary program strives to improve the efficiency of the notarization process by increasing notarization options, reducing paper waste and providing highly secure authentication and storage options for Arkansans’ legal documents.

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“Electronic notarization & e-closings will revolutionize the real estate and mortgage industries. This technology will change the way people conduct business. We are pleased to welcome another solution provider option as Arkansas’ nationally recognized eNotary program continues to grow,” said Secretary Martin.

Pavaso joins previously approved eNotary solutions providers DocVerify, World Wide Notary, and Corporation Service Company.

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Radian Integrates With Path To Offer MI

PathSoftware’s  Path LOS is now integrated with Radian Guaranty Inc., the mortgage insurance (MI) subsidiary of Radian Group Inc.

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This direct connect integration allows Path users to obtain rate quotes and order MI on both a delegated and non-delegated basis, and submit documents without leaving their LOS. MI premiums are also auto-populated into the appropriate fields in Path to help streamline the MI ordering process, improving efficiency and productivity.

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“We’re proud to partner with a forward-looking loan origination platform like Path to make it even easier for lenders to do business with us,” said Brien McMahon, chief franchise officer at Radian. “This integration enables us to deliver real-time quotes and simplify the MI ordering process for current and prospective customers.”

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Path was designed to simplify and streamline mid- to enterprise-level, multi-channel loan origination. As a portal with a single point of entry, all loan data, lock data, products, pricing, automated underwriting system findings, loan estimate and closing disclosure documents emanate and are reconciled within one system. In addition, the LOS’s configurable workflows, with role-based functionality, provide visibility into every loan at every stage—so financial institutions can ensure their business rules are followed.

“Direct integrations with our partners are essential to streamlining the mortgage origination process for our customers,” said Doug Mitchell, director of sales and support at PathSoftware. “By partnering with Radian, our clients can now easily order MI directly from one of the nation’s top providers.”

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Docutech, Veri-Tax Streamline Day 1 Certainty Process

Docutech, a provider of document and compliance technology for the mortgage and consumer lending industries, and Veri-Tax, a national verification provider, have expanded their integrated services to enable lenders to easily obtain the tax transcripts needed to enroll in Fannie Mae’s Desktop Underwriter (DU) validation service. Once enrolled in DU, lenders are able to receive Fannie Mae’s Day 1 Certainty, which frees them from representations and warranties for validated loan components.

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Veri-Tax is authorized to provide 4506-T tax transcripts through the Fannie Mae DU validation service. By expanding the integration between Veri-Tax and Docutech, lenders that use Docutech’s ConformX platform can easily satisfy Fannie Mae’s requirements by placing and retrieving tax transcript orders seamlessly within ConformX, where borrower information is already stored, while shortening the loan process by days.

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Fannie Mae’s DU validation service is designed to provide its customers with enhanced loan origination controls, improved processes and certainty around the borrower’s income, asset and employment information. When a lender opts in to use the DU validation service and obtains an eligible verification report from a vendor such as Veri-Tax, DU will use the data on the report to validate the borrower’s information and provide the lender with Day 1 Certainty for the loan.

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With the partnership between Veri-Tax and Docutech, lenders are able to use ConformX to submit tax transcript requests through Veri-Tax for simple 4506-T fulfillment, saving several days in the loan process.

Docutech President and Chief Operating Officer Amy Brandt said, “We’ve been very pleased with the success of the ongoing partnership between Docutech and Veri-Tax. Our integrated service allows shared customers to easily satisfy IRS requirements by automating the verification process and enabling lenders to place and retrieve tax transcript orders within our flagship software ConformX, where borrower information is already stored.”

Veri-Tax CEO of Customer Happiness Nick Lim added, “We are pleased to enrich our partnership with Docutech, especially as we’ve become a Fannie Mae authorized report supplier. We believe the combination of our ‘customer happiness’ differentiation and the innovative Fannie Mae Day 1 Certainty benefits  the robust Docutech platform and offers compelling value of protection, speed and efficiencies for our shared customers.”

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Lenders One Touts Member And Preferred Provider Growth

The Lenders One Cooperative, a national alliance of independent mortgage bankers, has kicked off its annual Summer Conference in Minneapolis, MN. The cooperative will celebrate its continued strong growth and participate in education sessions, keynotes and networking events designed to help members discover new opportunities in a changing market.

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Already the nation’s largest mortgage cooperative, Lenders One has welcomed the addition of 13 new members, four new vendors and four new preferred investors since the beginning of the year. The cooperative most recently celebrated the addition of two notable preferred secondary providers:

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Mortgage Capital Trading, Inc. (MCT)is a capital markets-focused risk management and advisory services company providing independent analysis, training, hedging strategy and loan sale execution support to clients engaged in the secondary mortgage market. Since 2001, MCT has grown from a pipeline hedging services specialist into a fully integrated provider of capital markets services and software for lenders at every stage of growth. Lenders One members will receive discounted pricing on selected services. In addition, MCT is committed to integrating with noteXchange and working closely with Lenders One members and the cooperative’s preferred investors to bring even more efficiencies and productivity lift to the bulk trading market.

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Planet Home Lending, LLC is a full-service, multi-state lender providing its customers a wide variety of loan products, including 203(k)s and FHA manufactured home loans, with a non-QM, alternative doc program for self-employed business owners and jumbo products coming soon. Consistently ranked in the top four for price on ICON for best effort, Planet Home Lending gives Lenders One members an assigned sales and service representative delivering personalized service plus access to state-of-the-art technology and a seasoned management team.

“We are thrilled with the momentum our cooperative has achieved,” said Bryan Binder, chief executive officer of Lenders One. “As we continue to grow in size and market presence, our team is committed to delivering value to our members through our many networking and educational opportunities as well as innovative technology offerings. We can see that our progress and industry-leading services are resonating with our members as the attendance at this Summer Conference is up over 30 percent from last summer.”

Over the past three conferences, Lenders One has announced the strategic addition of new technologies to help benefit our members, including Vendorly and noteXchange. At this year’s Summer Conference, Lenders One will launch additional noteXchange capabilities as well as preview a new cutting-edge eClosing ‘in a box’ offering as well as a continued focus on digitalization to prepare mortgage bankers for the future of the industry.

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TeleVoice Awarded U.S. Patent For SpotLight

TeleVoice, which develops and implements customized call center solutions, has been awarded a U.S. Patent for the unique technology embodied in SpotLight. The single-point of contact (SPoC) call management solution was designed specifically to address the challenges mortgage servicers face in implementing regulatory requirements for SPoC. SpotLight offers a distinct set of tools that improve agent efficiency and ensure regulatory compliance.

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“With SpotLight, single-point-of-contact operations become more than just an audit check box,” said Barry Hays, SVP and co-founder of TeleVoice. “A well-managed SPoC group really can achieve the true goal of loss mitigation, to move each troubled loan to the most favorable outcome as quickly as possible. Improving the flow of communications between SPoC agents and their assigned borrowers is the key to optimizing loss mitigation operations.”

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SpotLight manages all inbound and outbound call tasks assigned to SPoCs and may be used in environments where individual SPoC agents are assigned a group of loans or where a group of SPoC agents share responsibility for a set of loans. With SpotLight, agent resources are maximized and borrower needs are addressed more effectively.

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Using propriety technology, SpotLight dynamically calculates a call priority score (CPS), based on loan-level data and call characteristics, for each inbound and outbound call task. Critical calls are handled first, and less urgent calls are scheduled to be addressed later. Outbound contacts required by regulators receive priority as deadlines approach, insuring that regulatory standards are maintained.

The patented technology also provides critical audit trails by recording the disposition of every inbound and outbound call attempt. Servicers are able to instantly produce contact logs for individual loans, showing the outcome of every call that was placed by the borrower to the SPoC or by the SPoC to the borrower. Successful contacts, voicemails, requested call backs, abandoned calls and other call events are all tracked, providing a level of management detail not available with any other system.

Servicers using SpotLight for their loss mitigation operations have reported significant increases in Quality Right Party Contact, as well as increased SPoC efficiency and improved responsiveness from delinquent borrowers.

“The struggles the mortgage industry endured in the wake of the meltdown have largely abated, but the lessons learned have led to a lot of operational improvements,” Hays said. “We’re proud that SpotLight is one of the tools that is playing a continuing role in enhancing loss mitigation efforts.”

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LenderLive Expands Its Compliance Services

LenderLive Services LLC, a division of LenderLive Holdings, Inc. (“LenderLive”), will now provide expanded compliance services through a new line of business: LenderLive Compliance Solutions. The new entity will offer both bundled and a la carte services to banks, non-bank mortgage servicers, credit unions, and other financial institutions. Maria Moskver, general counsel and enterprise compliance officer for LenderLive, will lead LenderLive Compliance Solutions.

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Over the past two decades, LenderLive Services has developed significant in-house expertise in regulatory compliance, operational controls, systems and industry best practices. The company maintains one of the most extensive template libraries, including origination documents for all 50 states, as well as borrower communications for loss mitigation, pre-foreclosure/default and general servicing. LenderLive is trusted by eight of the top 10 mortgage and financial companies in the U.S. for compliance and outsourced critical borrower communications.

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LenderLive will continue to offer its Compliance Solutions bundled with best-in-class fulfillment and document services, to enterprise clients.

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In addition, LenderLive Compliance Solutions will now give smaller companies the option to access its compliance solutions on an a-la-carte basis. This flexible approach will allow community banks, credit unions and regional banks to supplement their internal compliance resources with LenderLive’s proven expertise. These services include:

>>Ongoing regulatory monitoring and alerts for regulatory changes at federal and state levels.

>>Access and use of LenderLive’s wide-ranging state and federal template library.

>>Ongoing template updates and review services.

>>Client-focused webinars covering key servicing, loss mitigation and default topics.

Custom research and consulting on regulatory compliance issues, including operational and best practice perspectives, to accelerate implementation times.

“Historically, financial institutions have turned to LenderLive for turnkey solutions that have reduced costs and kept them compliant,” said Rob Clements, CEO of LenderLive. “What we are doing now is leveraging the embedded expertise we’ve developed and providing financial institutions these services in two distinct ways, helping to create greater efficiencies for every specific need.”

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Land Gorilla And MRG To Guide Industry Leaders Toward Housing Shortage Solutions

Rolling with the momentum from March’s successful Construction Lending Summit in Denver, the construction loan management company Land Gorilla has organized a new summit for another housing-starved region: the Dallas-Fort Worth Metroplex. MRG is partnering with Land Gorilla to invite thought leaders in the mortgage industry to a ONE-DAY collaborative event on Aug. 22, 2017. Lenders, contractors, Realtors, and other professionals are expected to attend, all prepared to share strategies for easing the tension in a market growing by 400 residents per day.

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In April, media reports dubbed the situation in the Dallas-Fort Worth area as a “brutal market for new home buyers,” citing a historically low inventory of homes. High housing costs—increasing 50 percent in the last five years—and scant availability mark the major Texas metropolitan area as a region where individuals and companies poised to expertly navigate the market can seize the opportunity to create more inventory and realize significant return on investment.

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While the Dallas-Fort Worth area leads the country in numeric population growth, its challenges are not unique, but reflect a trend playing out in markets across the nation.

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The summit will cover the specifics of a market primed for collaborative efforts to build more housing, the key elements for a working Construction-to-Permanent Loan program, strategies for avoiding potential legal quagmires that can plague underwriting new residential construction loans, and ideas for partnerships devoted to growing a book of business.

Industry leading speakers for this event include Shannon Faries, Director of Risk Management for Land Gorilla, Christina Jenkins, Attorney and Director of Customer Support for MRG, Joaquin Tremols, Director, Single Family Housing for the USDA, Dan McPheeters, Program Development for Fannie Mae, and Paige Shipp, Regional Director at Metrostudy.

Fellow sponsors of the Texas summit are housing and residential construction industry information provider Metrostudy, FirstBank Correspondent Lending, and residential mortgage solution provider American Financial Resources (AFR). HousingWire is the media sponsor.

The Ground Up: Construction Lending Summit is set for Tuesday, Aug. 22, from 1:30 to 4:30 p.m. at Venue Forty50 located at 4050 Belt Line Road, Addison, TX 75001. A networking reception will follow from 4:30 to 6:00 p.m.

Ticket costs range from $85 for early bird registrants to $99 for general admission while supplies last and are available at this link: https://www.landgorilla.com/ground-up

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Bestborn Joins Elite Microsoft Dynamics Inner Circle

Bestborn Business Solutions, creators of Loan Vision, has been inducted into the Microsoft Dynamics Inner Circle, an elite group of Microsoft partners honored for their outstanding achievements in innovative design, sales, and superior commitment to service. The mortgage accounting technology firm (Bestborn) has earned membership for the 2017-2018 year and is recognized as one of only 60 Microsoft Dynamics partners, globally, to earn the award.

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“We’re honored to join this highly esteemed group of partners who have leveraged the latest Microsoft technology to simplify and advance business processes,” said Martin Kerr, President of Bestborn Business Solutions. “We plan to take advantage of every resource this membership provides in order to further expand our capabilities.”

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Bestborn was officially inducted into the 2017 Inner Circle at the Microsoft Dynamics Partner Recognition Event hosted at the Smithsonian National Museum of Natural History in Washington, D.C., where the new members discussed Microsoft’s upcoming plans. Each Microsoft partner invited to join the Inner Circle is afforded greater access to Microsoft resources, allowing the partners to forge a closer relationship with the world’s leading software provider than ever before.

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“Each year we recognize Microsoft Dynamics partners from around the world for delivering innovation and driving unsurpassed customer success,” said Ron Huddleston, CVP, One Commercial Partner. “Our Inner Circle members are chosen based on their capabilities as an organization, whether that’s creating IP, developing solutions, or having an industry leading focus on digital transformation. Microsoft is honored to recognize Bestborn for their achievements this past year, their dedication to their customers, and their innovation with Microsoft technologies.”

“Early access to Microsoft’s functionality launches and latest updates gives us a highly competitive edge,” said Igor Pchelnikov, CTO at Loan Vision. “This membership creates more opportunities for our team to leverage technology than ever before.”

Built on Microsoft Dynamics NAV, Loan Vision brings enterprise level accounting and business management functionality to the mortgage banking industry and a new option for lenders who require more flexibility in their enterprise software. Loan Vision can consume data from any LOS, efficiently passing detailed loan level information directly into the accounting system, thereby reducing manual workload and avoiding the risks of human error that come with rekeying data. The Microsoft look and feel reduces the learning curve for new users, while IT benefits from a solution fully deployed on the Microsoft suite of technologies. The platform contains modules for Interim Servicing and LO Commission as well as an extensive Branch Reporting module.

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Helping Struggling Miami Homeowners

Ocwen Financial Corp., the National Association for the Advancement of Colored People (NAACP), and NID Housing Counseling Agency (NID) are working together to host an event on Saturday, July 29 for struggling homeowners in the Miami area. This event is part of Ocwen’s “Summer of Help & Hope” series, an initiative to bring responsible mortgage solutions to struggling homeowners across the U.S.

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The event will be held from 9:00a.m. to 3:00p.m. at the Betty T. Ferguson Recreational Complex at 3000 NW 199th Street in Miami Gardens, FL. There is no cost for admission or parking.

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This event will offer Ocwen customers the opportunity to meet with Ocwen Home Retention Agents and NID housing counselors to explore loan modifications and other options to make their homes more affordable.

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“The rate of foreclosure in Florida, specifically Miami-Dade County, is much higher than the national average,” said Jill Showell, Senior Vice President of Government and Community Relations at Ocwen. “Ocwen is committed to helping struggling borrowers in Florida, and across the country, remain in their homes and a part of their communities. Having trusted partners such as the NAACP and NID, organizations that work in some of the nation’s hardest hit communities, allows Ocwen to reach more of its customers who are in need of assistance.”

Ocwen currently services more than 117,000 loans in Florida. From January 1, 2008 through June 30, 2017, Ocwen has provided borrowers in the state more than 85,500 loan modifications. Approximately 38 percent of these modifications included principal forgiveness, as permitted by applicable agreements, totaling more than $2.15 billion. Nationwide, Ocwen has granted over 735,000 loan modifications and provided billions of dollars in principal forgiveness to homeowners at risk of foreclosure.

“Homeownership remains one of the single biggest ways a person can build wealth in America,” commented Marvin Owens, Senior Director of Economic Programs at the NAACP. “Even though the housing market is showing signs of recovery, homeowners in Florida’s minority communities continue to struggle to pay their mortgages and remain in their homes. Ocwen borrower outreach events are crucial to helping homeowners receive assistance and resources on the local level, and hopefully have a chance at a fresh start.”

“NID is a strong advocate of homeownership. One of our goals is to help families facing financial hardship, remain in their homes and avoid foreclosure,” said Ray Carlisle, President of NID. “NID has seen firsthand the value of local homeowner outreach events. We have had significant success collaborating with the NAACP and Ocwen, and together are making a difference in the lives of many low- and moderate-income and minority families throughout the country.”

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Loan Vision Partners With National Lender, US Mortgage Corp.

Loan Vision, a mortgage accounting and financial management solution, announced that Melville, New York-based US Mortgage Corporation, a national Mortgage Banking company specializing in residential mortgages, has made the decision to switch from Intuit Quickbooks to the Loan Vision accounting software for mortgage banks with plans to go live on the platform in September.

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“US Mortgage Corporation performed an extensive analysis of its options for new accounting software before joining the Loan Vision family. This was a big decision for them,” said Martin Kerr, President of Bestborn Business Solutions. “I prefer it when a prospect looks deeply into the capabilities we offer and those offered by our competitors before making a decision. When they take the time to do this, it’s rare that they do not choose Loan Vision. I’m very pleased to welcome US Mortgage Corporation into our growing family.”

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“The way this industry is set up, you really need something that’s able to drill down on a loan level basis,” said Scott Milner, President of US Mortgage Corporation. “So accounting software that doesn’t even understand what that means wasn’t going to be practical for us. We went with Loan Vision because it was already in the Cloud, it will be much more integrated with our other Microsoft Suite of services and it will provide quicker calculations and give us a lot more flexibility from a reporting standpoint.”

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Milner said his team made its final decision based on three criteria they determined to be most important. First, the company needed a tool that was mortgage specific. Second, management wanted a tool that would provide real time information to senior managers and branch managers. Easy online access to the system was something that the company did not have but wanted. Finally, US Mortgage Corporation wanted a tool that would make it easier for the company Treasurer to provide senior management with actionable information based on company data.

“It was an extensive process,” Milner said. “When you are changing accounting software, you hope to do it only once so you want to make the right decision. We found what we were looking for in Loan Vision. In hindsight, I really wish I had made this decision years ago.”

“We were in discussions with US Mortgage Corporation for quite some time,” said Carl Wooloff, Business Development Manager for Loan Vision. “The company was very careful and we respect that. As more companies come aboard, the Loan Vision decision is becoming much easier for companies to make. Anyone considering a switch should visit with one of our customers. They generally say that they wish they had switched sooner.”

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