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FHA Picks Publisher of Handbook

 AllRegs by Ellie Mae began publishing the FHA Single Family Housing Policy Handbook (HUD Handbook 4000.1) as of May 18. The Handbook is scheduled to go into effect on September 14, 2015. Ellie Mae became the official publisher of FHA handbooks after being awarded a contract by the U.S. Department of Housing and Urban Development/Single Family Office this past September.

The addition of the FHA Handbook creates an improved user experience for lenders with greater functionality and reliability, including robust links between AllRegs and other FHA resources and information. In addition to publishing FHA’s online resources, AllRegs by Ellie Mae’s offerings include training and help desk support services for HUD staff and other users. The AllRegs by Ellie Mae publishing platform also includes searchable access to both current and archived FHA loan guideline documents, including dynamic searches using keywords and synonyms, and the ability to export content into various formats.

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“With the FHA playing a critical role in today’s housing market, lenders need resources and tools that help them comply with the agency’s policies quickly and efficiently,” said Jonathan Corr, president and CEO of Ellie Mae. “The FHA’s decision to publish its guidelines with us will provide lenders that originate and close FHA loans with better access and efficiency, especially with search capabilities built into the AllRegs by Ellie Mae platform.”

AllRegs, which was acquired by Ellie Mae in October 2014, is the exclusive electronic publisher of underwriting and loan product guidelines for Fannie Mae, Freddie Mac, the Federal Home Loan Bank of Chicago MPF Program, Wells Fargo, Citibank, Chase, US Bank and Flagstar Bank, in addition to publishing internal guidelines and hosting over 250 websites for some of the most progressive mortgage companies in the country.

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In addition to publishing loan product and guideline data and analytics, AllRegs by Ellie Mae offers virtual and live training, designation and practical guides, as well as off-the-shelf policy and procedures manuals and other documents that can be customized for each company. Its extensive content library of regulations and investor guidelines is relied upon by virtually all of the top 100 U.S. lenders.

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Automating Business Information

Ellie Mae has launched AllRegs Market Clarity 3.0, a new version of its business information tool featuring new search functions and improved navigation. The new version includes a powerful new user interface that lets users compare and contrast more than 3,000 loan products from 95 different investors, giving them better insight on the differences between products and investors.

Market Clarity is a business information tool for the mortgage banking industry that helps lenders and investors manage risk, identify market opportunities and maintain a competitive edge. The tool is Web-based and features product templates and detailed investor guidelines. It is part of the AllRegs by Ellie Mae product line, created following Ellie Mae’s acquisition of AllRegs in October 2014.

“Market Clarity’s expanded search capabilities and its improved navigation make it an indispensable tool for lenders and investors alike,” said Jeff Hoerster, vice president and general manager for AllRegs by Ellie Mae solutions. “Our new loan product overlay search makes it easier than ever for users to truly analyze loan programs side by side and see exactly how they differ. Users of Market Clarity have the ability to review the full set of product guidelines for each investor with whom they are an approved Seller/Servicer. Additionally, users may also review a redacted set of guidelines for those investors participating in the market with whom they do not yet have a business relationship, making the tool especially useful in keeping an eye on what competitors are offering.”

In addition to a more streamlined, intuitive user interface and the new loan product overlay search tool, Market Clarity 3.0 now lets users track changes to loan product guidelines over time. This allows lenders in particular to stay up to date with ever-changing requirements and underwrite loans correctly based on real-time information.

“With Market Clarity, lenders can access the latest investor requirements, enabling them to avoid mistakes in the underwriting process and reduce buyback risk,” Hoerster said.

Market Clarity 3.0 allows users to search thousands of different loan programs in three different ways:

>> A Product Eligibility search tool lets users type in a borrower’s criteria and loan requirements to find available products from more than 3,000 products from 95 different vendors and GSEs.

>> A Product Comparison search allows lenders to compare loan products by 44 different data points to see how they stack up down to a granular level, with the ability to export results in multiple formats.

>> A Product Overlay search enables lenders to select a baseline investor, such as Fannie Mae, and compare other loan programs against it to show where and how products differ, and where some are more restrictive and others more lenient.

Market Clarity 3.0 is also fully integrated with the AllRegs Loan Library, an online reference library that includes investor underwriting and insuring guidelines and federal and state statutes and regulations.

AllRegs by Ellie Mae is the exclusive electronic publisher of underwriting and loan product guidelines for Fannie Mae, Freddie Mac, Wells Fargo Home Mortgage, Citigroup, JPMorgan Chase, the Federal Home Loan Bank of Chicago, U.S. Bank Home Mortgage and Flagstar Bank, N.A. The AllRegs by Ellie Mae product line includes the AllRegs Academy, which offers virtual and live training, as well as designation and practical guides, and a professional services group that develops custom guides, policy manuals and other documents on a contract basis.

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Executive Spotlight: Jonathan Corr of Ellie Mae

Jonathan CorrThis week, the subjects in our spotlight are CRM and data, and our guest is Jonathan Corr, president and chief operating officer of Ellie Mae, based in Pleasanton, Calif. Here’s what he had to say on these critical topics:

Q: What is your opinion of the current purchase market?

Jonathan Corr: It’s here to stay and as an industry we have to make the most of it. Last year, our August 2013 Origination Insight Report showed share of purchases running at 57%, but that number rose to 66% this past August. This roughly tracks with what the MBA is projecting for the year—$569 billion in purchases and $438 billion in refinances.

While this is somewhat of a shock to the system for an industry that’s been refinance driven for most of a decade, it is a return to a more normal mix of purchase to refinance, which historically has been more like a 70/30 mix.

The good news is that the economy and the market are both improving. Home prices are rising, but still affordable. Interest rates are still relatively low. Credit and underwriting standards appear to be gradually expanding. And all of our clients seem to be adjusting well to new regulations, like ATR and QM.

On the downside, volume has declined, which means LOs are going to need to get creative in order to succeed in this purchase renaissance. Everyone is going to use traditional marketing tools (i.e., direct mail/email) along with newer ones (i.e., social networks, such as Facebook and Twitter) to build brand and engage with potential customers. So how can you be original when everyone is doing the same thing you are?

Customer relationship management (CRM) and automated marketing systems will deliver new options and better, more relevant content to LOs and corporate marketers. They can also provide new control and insight into what’s working, what’s not and how compliant your offers are.

Q: How do you see the mortgage banking industry using CRM today? And are there places where CRM is not being used to its fullest?

Jonathan Corr: There is a great deal of interest in CRM at the moment. On average, our webinars on CRM technology are packed with hundreds of clients per event. As we move into a purchase environment, CRMs are no longer just nice to have, but necessities to drive conversion and help LOs be more productive and drive relationships with Realtors.

How will CRM systems be used? It depends on the banker, the channel and the commitment from the branches and the LOs. But I expect that they will drive outbound marketing campaigns to prospects, past customers and referral sources (like builders and realtors). Some systems, like our Encompass CRM, which integrates with our Encompass mortgage management solution, automatically communicate with borrowers and referral sources at key milestones in the origination process: keeping all the players in the loop, setting expectations, building confidence.

CRM systems can also give corporate marketers and executives better insight into what campaigns are working, where customers are going on your website, and which LOs are converting more leads and why.

Q: For the past couple of years, Ellie Mae has been offering its own monthly housing market data. How does your data differ from the data offered by other companies and trade groups?

Jonathan Corr: Probably the biggest difference is how close Ellie Mae is to the source (our lender customers) and how “fresh” our data is. Other players track similar data, but often it comes from surveys or takes months to be published.

Our data is pulled directly from the Encompass platform, annotated and reported. On the third Wednesday of each month, we release the data for the previous month. Our unique position in the origination process and our market share are reasons we can do this. Last year, approximately 3.5 million loan applications ran through our Encompass mortgage management solution.

Recently, we’ve expanded our coverage to provide insight into VA and FHA production, as well.

Q: What is Ellie Mae’s data forecast for the near-term health of the purchase market?

Jonathan Corr: As a public company, our forecast is based on a consensus of what the MBA, Fannie Mae and Freddie Mac are forecasting. In our Q2 2014 earnings press release, that number was approximately $1.1 trillion for 2014, which would mean an approximately 41% drop from 2013 mortgage origination volume.

Obviously, this decline will have an impact on the mortgage industry, including technology providers, as everyone’s revenue has some level of sensitivity to volume. But we remain optimistic and believe that, even though the “feast” days of the refinance boom are over, the “famine” days of the mortgage crisis probably won’t happen again either. We are moving back to a solid residential finance market driven by purchase and the future progression of millennials into those prime buying years as they marry and have children.

Ellie Mae is online at www.elliemae.com.

Phil Hall has been (among other things) a United Nations-based radio journalist, the president of a public relations and marketing agency, a financial magazine editor, the author of six books and a horror movie actor. Also, as you will discover, he is not shy about stating his views.

LOS Leaders Are Emerging

You Can Download This Full Article As A PDF HERE

TME-TGarritanoI always used to wonder how the mortgage space could support 50, 60 different loan origination system (LOS) providers. I guess when you operate in a loosely regulated space with lots of investors, lots of volume and lots of mortgage bankers and brokers, there’s enough to go around for all of these LOS companies to survive. Today all of those conditions have disappeared so we’re seeing a lot of shifts in the LOS space.

So, who are the leaders in the midtier LOS space? A slew of recent acquisitions has brought three LOS companies to the front of the line in my view. The LOS in first place has to be Ellie Mae. In a move to bolster its content and services offering, Ellie Mae signed a definitive agreement to acquire AllRegs, an information provider for the mortgage industry.

AllRegs information management solutions are used by more than 3,000 companies representing every facet of mortgage banking: major lenders and investors, regulators, Federal and State agencies, brokers, mortgage services vendors and law firms. AllRegs product offerings include education and training, loan product and guideline data and analytics, and the AllRegs online reference library that includes investor underwriting and insuring guidelines, federal and state statutes and regulations, Mortgage Mentor “how to” guides and plain language interpretation and analysis.

“AllRegs has built a strong reputation as the industry’s source for investor guidelines, compliance resources and education,” said Sig Anderman, chief executive officer of Ellie Mae. “With the acquisition of AllRegs, Ellie Mae will expand its customer base and add a broad array of content and services that complement our portfolio of product offerings. This strategic acquisition enhances Ellie Mae’s compliance leadership and furthers our goal to be the company that powers the entire mortgage industry.”

AllRegs extensive content library spans nearly every aspect of the mortgage industry. Relied upon by virtually all of the top 100 lenders in the country, AllRegs is the exclusive electronic publisher of underwriting and loan product guidelines for Fannie Mae, Freddie Mac, Wells Fargo Home Mortgage, Citigroup, JPMorgan Chase, the Federal Home Loan Bank of Chicago, U.S. Bank Home Mortgage and Flagstar Bank, N.A.

The transaction is expected to close within 90 days and is subject to customary closing conditions. Under the terms of the agreement, Ellie Mae will acquire AllRegs for $30.0 million in cash, subject to certain purchase price adjustments, including for working capital.

So, who can challenge Ellie Mae? The Altisource acquisition of Mortgage Builder puts them in strong contention. However, several times in the past we’ve seen good midtier technology companies that offer quality service and have a decent market share get acquired by larger companies. What happens next? The midtier company loses its identity and struggles in most cases. Is this what’s in store for Mortgage Builder now that they have been acquired by Altisource?

I don’t think so. The Altisource acquisition of Mortgage Builder has the beginnings of a great success story. For Altisource, they are getting more involved in the mortgage space. They want to have an end-to-end LOS. They want to control the entire mortgage lifecycle. That’s a good thing for Mortgage Builder because they will be the only LOS in the Altisource portfolio and Altisource doesn’t know much about the LOS, so Keven M. Smith, Chief Executive Officer of Mortgage Builder, will remain a big player. He’s not looking for an exit strategy.

“I built the company from the ground up,” he said. “Being privately held has been great, but some of the acquisitions that we want to do and the extensions to our product require that a bigger company be behind us. There are also offerings within Altisource like Lenders One, for example, that we look forward to being more involved with.

“This is not a cash-out deal, this is the next step in the lifecycle of Mortgage Builder,” Smith continued. “All of the staff are being brought over. As time goes on we are looking to expand. We will add more staff and look to get more entrenched in Altisource offerings. Altisource doesn’t have an LOS so the fact that we would be here long term running the company was a selling point for them.”

In fact, if you look the Equator acquisition, Altisource has a clear track record established. The Equator staff and corporate identity remains in tact. The company was acquired for its expertise in loss mitigation and its involvement with Altisource has enabled the Equator staff to grow their business.

“It’s harder to grow as a privately held LOS,” noted Smith. “We at Mortgage Builder are looking to be a larger company and grow. I don’t have a rich uncle to go to and get money from to do the acquisitions that we want to do. We want to be the premier LOS player.”

Mortgage Builder recently acquired a PPE/CRM provider and a servicing software provider. Now that the company has Altisource behind it more acquisitions will undoubtedly follow. Mortgage Builder will also be able to accelerate plans to improve its existing technology to prepare lenders for what comes next in the world of mortgage lending. All indications are that the acquisition was a good fit for a larger company looking to offer a complete lending technology solution and a solid midtier LOS looking to grow.

Lastly, PCLender, LLC has acquired the PCLender loan origination system back from Black Knight Financial Services and formed a new company that will focus on providing turnkey mortgage technology solutions for midsized mortgage bankers. No sale price was disclosed.

PCLender, LLC has been heavily capitalized to expand the system functionality and implement automation solutions for lenders requiring increased compliance and workflow efficiencies. The system currently supports banks and credit unions with consumer point-of-sale, loan processing, automated underwriting, loan closing, integrated imaging, secondary marketing, trade management, warehouse management and interim servicing. PCLender’s retail and wholesale platform will now be expanded to support correspondent lending and include automated loan audit and post-closing review support. Additionally, an emphasis will be made to refine vendor integrations and build out fulfillment services that streamline lender operations.

Lionel Urban, president and CEO of PCLender, LLC said the management team will initially focus on strengthening customer relationships and pursue customer collaboration to speed the pace of design enhancements. “I believe the PCLender customer base has some very valuable feedback and we intend to implement that into our development road map. I think that was a strength of the organization early on and we are excited to reengage with the customer base in a collaborative manner.”

PCLender, LLC will continue to build on the scalable architecture and security that is currently inherent in the system. PCLender, LLC anticipates the development and support resources dedicated to the LOS will increase by over 60 percent in the next 12 months to support the new growth initiatives.

PCLender, LLC will focus on workflow and configuration defaults that will enable lenders to implement the LOS within 30 days using industry best practices. Mr. Urban believes that the small to midsized mortgage lenders are an underserved market and plans to offer a more robust solution that will require less administrative support by the lenders.

All three of these companies have emerged as LOS leaders that will be around for the long haul.

About The Author

[author_bio]

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.

BREAKING NEWS: Ellie Mae To Acquire AllRegs

In a move to bolster its content and services offering, Ellie Mae has signed a definitive agreement to acquire AllRegs, an information provider for the mortgage industry. Here’s the details:

AllRegs information management solutions are used by more than 3,000 companies representing every facet of mortgage banking: major lenders and investors, regulators, Federal and State agencies, brokers, mortgage services vendors and law firms. AllRegs product offerings include education and training, loan product and guideline data and analytics, and the AllRegs online reference library that includes investor underwriting and insuring guidelines, federal and state statutes and regulations, Mortgage Mentor “how to” guides and plain language interpretation and analysis.

“AllRegs has built a strong reputation as the industry’s source for investor guidelines, compliance resources and education,” said Sig Anderman, chief executive officer of Ellie Mae. “With the acquisition of AllRegs, Ellie Mae will expand its customer base and add a broad array of content and services that complement our portfolio of product offerings. This strategic acquisition enhances Ellie Mae’s compliance leadership and furthers our goal to be the company that powers the entire mortgage industry.”

AllRegs extensive content library spans nearly every aspect of the mortgage industry. Relied upon by virtually all of the top 100 lenders in the country, AllRegs is the exclusive electronic publisher of underwriting and loan product guidelines for Fannie Mae, Freddie Mac, Wells Fargo Home Mortgage, Citigroup, JPMorgan Chase, the Federal Home Loan Bank of Chicago, U.S. Bank Home Mortgage and Flagstar Bank, N.A. First introduced in 1989 as a regulatory reference library, the AllRegs product menu has grown to also include:

>> AllRegs Content Libraries, spanning nearly every aspect of the mortgage industry including underwriting and compliance guidelines such as AllRegs Investor Library, AllRegs Loan Library and AllRegs Mortgage Mentor Guides.

>> AllRegs Academy, offering educational courses and certifications.

>> AllRegs Business Practices group, which assists organizations with risk mitigation and regulatory compliance.

>> AllRegs Compliance Management System, a comprehensive policy management and training solution.

>> AllRegs Market Clarity, an online product database that compares 44 key loan product attributes of more than 3,000 products for 95 different investors.

The transaction is expected to close within 90 days and is subject to customary closing conditions. Under the terms of the agreement, Ellie Mae will acquire AllRegs for $30.0 million in cash, subject to certain purchase price adjustments, including for working capital.  Due to the anticipated timing of closing, the acquisition is expected to have a minimal impact on third quarter results.  Ellie Mae will provide details on the future financial impact and the synergies to be expected when the company reports its third quarter results.

Berkery Noyes served as exclusive strategic and financial advisor to AllRegs.

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.

Automating Regulatory-Based Procedures

Yesterday, we at PROGRESS discussed how good technology vendors continue to innovate. Today, we want to share another story of how one vendor is making a difference. We just learned that AllRegs, an information provider for the mortgage industry, has launched a procedures product line designed to provide clear step-by-step guidance to a lender’s staff about operational aspects of regulatory-based procedures. Here’s why this is significant:

“A tremendous amount of work goes into preparing for an audit,” said Dan Thoms, executive vice president for AllRegs. “It starts with great regulatory compliance practices. These procedure templates help support our clients in filling gaps in their regulatory compliance infrastructure. Saying your company will implement a policy isn’t enough anymore—you have to be able to show exactly the steps staff members need to take when handling operational tasks, our procedure documents fill that need.”

Guidance released by the CFPB in December of 2013 specifically addresses policies and procedures. Beyond ensuring procedure documents cover the key components of the Dodd-Frank rules, the regulatory agency suggests having a process in place for keeping documents accurate as regulations evolve.

AllRegs Procedure Templates are offered with a one-time purchase price per company. The templates are delivered in MS Word format and can be personalized by the customer or fully customized by AllRegs to include specific customer requirements. Maintenance plans are available to keep documents up to date with legislative and regulatory changes.

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Automating Your Lender Library

PMAC Lending Services says that AllRegs will publish its lending library of correspondent lending guides. PMAC Lending Services will now leverage the AllRegs technology platform and publishing expertise to manage and maintain its product guides and correspondent seller’s guide.

Users will benefit from a variety of productivity tools, including an electronic Table of Contents tree with links to guidelines, a robust search engine that features a thesaurus with industry jargon and relative matching results, PMAC Lending Services staff and business partners will be able to access content through the online Lending Libraries, including product guides, exhibits and seller’s guide.

In addition, the PMAC Lending Services libraries feature a Recent Updates section and Latest News announcements delivered via E-Alerts, to notify users of changes to content.

“Our proprietary AllRegs publishing system provides a robust resource for delivering content and searching product guides and related content,” says Dan Thoms, Executive Vice President of AllRegs.We at AllRegs are very excited to help PMAC Lending Services provide their staff and business partners with a resource that will streamline their business processes and increase productivity.”

“PMAC is known for leveraging technology to improve the customer experience in every area of the business,” said Thomas Palmer, Executive Vice President of Correspondent Lending Division of PMAC Lending Services.  “Streamlining product guidelines and offerings through our partnership with AllRegs is yet another way we endeavor to bring efficiencies, speed, and accuracy to our staff, our clients and their customers.  As part of the recently launched PMAC Correspondent Division, centralized in Columbia, SC, we are pleased to announce our ability to now leverage AllRegs.”

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Lender Programs Go Electronic

*Lender Programs Go Electronic*
**Correspondent Details Published**

library***Lake Michigan Financial Group is publishing the library of program details for the Company’s Correspondent Lending Division electronically. Lake Michigan’s program details will now be available through their corporate website for approved correspondents and through AllRegs Market Clarity and AllRegs Investor Library for mortgage lenders.

****Lake Michigan Financial Group will now leverage the AllRegs technology platform and publishing expertise to manage and maintain its library of correspondent mortgage program details. Users will benefit from a variety of productivity tools, including an electronic Table of Contents tree which links to the program details. Content is also accessible through a robust search engine that features a thesaurus with industry jargon and relative matching results.

****Internal customers and business partners, through AllRegs products such as the Investor Library and AllRegs Market Clarity, will now be able to access details on a variety of programs, including:

****>> Fannie/Freddie conventional conforming loans with no overlays

****>> HARP loans (both Fannie and Freddie)

****>> Jumbo loans (FIXED RATE and ARMS) up to 90% LTV

****>> Non-warrantable condo loans

****>> LMMI Loans with built-in discounted MI premiums

****>> Fannie Mae HomePath Loans

****>> FHA and VA Loans

****>> Portfolio ARM loan products

****“We at AllRegs are proud to provide Lake Michigan Financial Group staff and business partners with an innovative and robust resource to access their program details in real-time,” says Dan Thoms, Executive Vice President of AllRegs. “Delivered through our proprietary technology, the LAKE MICHIGAN FINANCIAL GROUP lending library will help their staff and partners alike to streamline business processes and increase productivity.”

****“Lake Michigan Financial Group (LMFG) is proud to add AllRegs as a corporate strategic partner,” stated Eric Burgoon, Senior Vice President Mortgage Lending, Lake Michigan Credit Union.  “We have found their full suite of services and technology allows us to provide our clients with immediate and simplified access to our product guidelines and our platform offerings.”

Progress In Lending
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A New Lending Library

*A New Lending Library*
**Alliance Forms**

library***Norcom Mortgage is proud to announce that AllRegs, the leading information provider for the mortgage industry, will publish its lending library of mortgage underwriting guidelines. Norcom Mortgage will now leverage the AllRegs technology platform and publishing expertise to manage and maintain its retail and correspondent lending library of mortgage underwriting guidelines. Here’s how it works:

****Users will benefit from a variety of productivity tools, including an electronic Table of Contents tree with links to content, guidelines and forms. Content is also accessible through a robust search engine that features a thesaurus with industry jargon and relative matching results.

****Norcom Mortgage internal staff and business partners will be able to access mortgage underwriting guide content through the online Lending Library that includes the following topics:

****>> General Requirements

****>> Freddie Mac Loan Prospector

****>> Conforming Conventional Loans

****>> Appraisal Standards

****>> Specific Property Types – Eligible Products

****>> Government Loans

****>> New Construction

****In addition, the Norcom Lending Library features a Recent Updates section to identify changes to content, as well as Email Alerts to notify users of changes.

****“We at AllRegs are very excited to help Norcom Mortgage provide their staff and business partners with an innovative and robust resource that allows them to search the company’s underwriting guide,” says Dan Thoms, Executive Vice President of AllRegs. “Norcom Mortgage’s lending library will help their staff and partners alike to streamline business processes and increase productivity.”

****“We are all looking forward to AllRegs lending library of mortgage underwriting guidelines, and we are confident that it will allow internal staff, as well as our business partners, to be more efficient,” said Philip DeFronzo, Owner of Norcom Mortgage. We are eager to jump start our new relationship with AllRegs and launch this new resource.”

Progress In Lending
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Market Analysis: A Partnership That Matters

*A Partnership That Matters*
**By Tony Garritano**

***When you’re the leader in a space, who you partner with matters. When the GSEs chose Veros to run the new appraisal portal that was significant. Today I learned about another partnership like this that I think matters. Mortech, Inc., a mortgage technology software company specializing in solutions for mortgage bankers and secondary market teams, announced an exclusive new strategic alliance with AllRegs, the market leader when it comes to providing mortgage information. Under the new agreement, the Mortech Product & Pricing Engine (PPE), a tool built into MarksmanLMP, will be the exclusive PPE recipient of AllRegs’ massive loan product library, which includes loan programs for more than 70 investors, some of whom only share information with AllRegs. Here’s the scoop:

****“We’ve worked with Mortech for a number of years and wanted to create a more strategic alliance with the company,” said Dan Thoms, executive vice president and chief strategy officer at AllRegs. “We’ll be supporting loan originators through Mortech in a number of new ways, including providing educational services and special origination and compliance-focused webinars to their lender customers.”

****“This alliance solidifies MarksmanLMP’s leadership position in the market,” said Don Kracl, president of Mortech. “Marksman’s Lending Management Platform has never been a traditional PPE. In fact, that’s only one aspect of the functionality included. Because we also provide so many other tools to help loan officers qualify opportunities before entering the LOS, it was difficult for simple PPEs to compete. Now with AllRegs providing its exclusive loan library data to only to Mortech, it adds even more value to the MarksmanLMP process.”

****Previously, AllRegs provided its data to a number of PPE providers in the marketplace, but decided earlier this year to concentrate its efforts on a single strategic alliance. AllRegs subscribers will still have complete access to its AllRegs LoanLibrary data, whether they use a commercial PPE or not.

****MarksmanLMP qualifies mortgage leads prior to moving them to the LOS by simplifying, automating and organizing the entire mortgage lending process, from lead acquisition to assessment and marketing to processing. Online window shoppers are converted into customers quickly and easily, freeing up the LOS from the clutter of deals that will never close in the process.

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.