FirstREX announced it will provide downpayment funding in combination with the portfolio loans of HomeStreet Bank, one of the largest community banks in the Pacific Northwest and a wholly owned subsidiary of HomeStreet Inc. Under the REX HomeBuyer program, FirstREX will fund up to half of the borrower’s down payment required on a HomeStreet purchase loan. The down payment funding from FirstREX is an equity investment—not a grant, subsidy or loan—so there is no interest and the homeowner makes no monthly payments to FirstREX.Click to continue

Capsilon released a new version of its DocVelocity Mobile app to enable on-the-go mortgage professionals to securely access loan documents. The newest version of the app has performance and security improvements. The DocVelocity Mobile app is designed specifically for Apple iPhone, iPad and iPod Touch devices and works exclusively with the DocVelocity cloud-based imaging solution, so users are quickly able to access loan documents with the assurance these documents are correctly formatted, named, indexed and versioned.Click to continue

LRC Asset Management has announced the launch of a revolutionary program that catches fraud and speeds REO timelines to less than 180 days. RealtyRecon quickly determines occupancy in REO housing units, addressing one of the industry’s biggest shortfalls. The Scottsdale-based company’s proprietary program works with existing listing agents as a seamless addition to REO and short sales operations.Click to continue

zIngenuity has redesigned its Web site to align with current service offerings.Click to continue

Veros Real Estate Solutions has announced it is making its proprietary home price index, VeroHPI, available for commercial use for the first time. Now lenders, secondary marketers, servicers and analysts will have direct access to information previously available only in Veros products. This information includes sophisticated analytics with a repeat sales index, which immediately improves decision-making regarding residential property price trends in markets across the country.Click to continue

LoanSifter Inc. has launched the initial phase of its new automated lock change management tool that enables mortgage bankers to automatically re-price loans when loan circumstances change, increasing their accuracy and compliance while saving time and money. Mortgage lenders allow borrowers to "lock" a mortgage interest rate and points as protection against fluctuations in mortgage rates.Click to continue

CoreLogic announced the availability of its LoanSafe suite of risk mitigation solutions on seven loan origination systems (LOS) through integration with QuestSoft’s Compliance EAGLE, a mortgage compliance review system. The LoanSafe Suite is now available through the Blueberry Relay, Calyx Point, Ellie Mae DataTrac, Harland E3, ISGN MORvision, LPS Empower and OpenClose systems.Click to continue

Equity National has introduced Equity ISP (Insured Settlement Protection), an insurance product protecting the insured mortgage lender against closing fraud, defalcation and closing instruction violations. Developed for Equity National by The Prieston Group, the policy is insured through Lloyd’s of London and affords mortgage lenders protection above and beyond that provided by the traditional closing protection letter (CPL). The insurance product is the first of its kind in the mortgage industry.Click to continue

New York Gov. Andrew M. Cuomo has announced that Fannie Mae and Freddie Mac–in response to a request from the Cuomo Administration–are unveiling a new mortgage relief program to protect victims of Superstorm Sandy from large spikes in their mortgage payments. Sandy victims who received forbearance will be eligible for a special mortgage relief program that allows those homeowners to lower their monthly payments and avoid sudden payment spikes.Click to continue

Freddie Mac announced the launch of Loan Quality Advisor, a new online loan tool that gives lenders an automated way to identify credit, data and purchase eligibility issues before they deliver loans to Freddie Mac. By helping lenders spot and fix potential problems earlier in the loan manufacturing process, Loan Quality Advisor can make Freddie Mac's purchase requirements more transparent and give lenders greater certainty in the loans they sell to Freddie Mac.Click to continue