The Data & Analytics division of Black Knight Financial Services has introduced VeraStrat Scores, a loan-level indicator of borrower risk and historical payment pattern. Servicers can use this solution to create efficient borrower contact strategies that assist the servicer in complying with various guidelines by identifying and contacting the highest-risk borrowers early.Click to continue
WFG National Title Insurance Company has introduced technology that will enable title agents to implement key compliance safeguards, as well as demonstrate to the agents’ clients that they have done so. The Compliance Management System (CMS) will soon be available nationwide. According to Joseph Drum Esq., executive vice president overseeing WFG NationalClick to continue
CoreLogic has announced the availability of new real estate agent Web site technology for the AgentAchieve platform. The new technology allows real estate agents to present a modern, personalized website experience to their clients, while leveraging the integrated eMarketing, Customer Relationship Management (CRM), and other capabilities included in the AgentAchieve platform. The new sites utilize responsive design for display on a variety of browsers and platforms, allowing agents to serve their consumer clients on tablets, smartphones or other mobile devices.Click to continue
National Mortgage Insurance Corporation (National MI) has launched a new lender-paid mortgage insurance (LPMI) program with imortgage. National MI’s LPMI program with imortgage is backed by what National MI believes is an innovative delegated assurance review process.Click to continue
FICO has announced that it will release the next broadly available version of the FICO Score beginning this summer. Using a new, multi-faceted modeling approach, which combines sophisticated in-house analytic technology with insights gained over 50 years of building credit risk models, FICO Score Nine will provide best-in-class predictive power across all major credit product lines—mortgages, auto loans, credit cards and personal loans—from originations through account management. Click to continue
Mortech, a Zillow business providing mortgage technology software solutions for mortgage bankers and secondary market teams, has announced the release of new LPMI products and functionality to the suite of Consumer Financial Protection Bureau (CFPB) compliance tools built into Mortech’s Marksman product and pricing engine. Mortech released the compliance tools last November to allow loan originators to manage compliance upon intake, prior to the loan application entering the loan origination system, and has been adding functionality since then.Click to continue
a la mode’s Mercury Network has announced the expansion of its SureReceipts service to a universally available eDisclosure compliance solution. SureReceipts securely sends any document to borrowers in compliance with disclosure requirements, and it automatically produces an audit trail on every send for compliance verification.
SureReceipts can be deployed quickly by lenders of all sizes, and is now available as a stand-alone, Web-based service or as an API for integration in existing workflow systems.Click to continue
DataQuick has deployed enhancements to the underlying logic within its Precision Loan Model (PLM), providing a more accurate way for lenders and investors to identify and position all relevant loans on a property. The advanced logic afforded by DataQuick’s PLM lets lenders and investors calculate combined loan to value (CLTV), quickly assess lendable equity, understand and manage changing risk in relation to property-level loan-to-value ratios and make accurate default management decisions.Click to continue
United Wholesale Mortgage (UWM) has announced the development and launch of a feature rich mobile application for its broker community. The application arms brokers with robust functionality and easy access to loan information while in the field.Click to continue
a la mode announced that Mercury Mobile, a new iOS app enabling appraisers to respond to new Mercury Network orders instantly, is now available at no charge for iPhone and iPad in the Apple App Store. An Android version of the app will also be available soon.
Lenders and AMCs placing orders on the Mercury Network will see instantaneous turn time improvements, since it handles any type of Mercury order with no changes in workflow at the client or vendor ends.Click to continue