Residential Briefs

Oct. 15, 2015--MBA NewsLink Staff

October 15, 2015

Ellie Mae to Acquire Mortgage Returns

Ellie Mae, Pleasanton, Calif., announced it signed a definitive agreement to acquire Mortgage Returns, St. Louis, a provider of on-demand customer relationship management and marketing automation services for the mortgage industry.   

The transaction is expected to close in the fourth quarter. Ellie Mae will provide additional details when the company reports its third quarter results.

IndiSoft, Navigant Launch HMDA Review Feature in RxOffice Compliance Platform

IndiSoft, Columbia, Md., partnered with Chicago-based business consulting firm Navigant Consulting Inc. to include Home Mortgage Disclosure Act reviews via its RxOffice Compliance module.  

The enhancements will offer visibility and simplicity to users striving to remain compliant with HMDA regulations. Features include HMDA Data Verification--support of blind entry of data enables input of data without any influence of existing information and allows comparison of data with Loan Application Register data; ability to consume LAR data file; and support for various key reports related to HMDA quality control.  

Matt Martin Real Estate Management becomes Chronos Solutions

National real estate finance services provider Matt Martin Real Estate Management, Frisco, Texas, is now Chronos Solutions.  

Chronos Solutions is a technology enabled real estate finance services provider offering services for mortgage lenders, federal agencies, GSEs, mortgage servicers and real estate portfolio investors. The company offers an array of services, including advisory and consulting; title and settlement services; valuation; acquisitions; Home Owners Association solutions; REO management and disposition; auction services and accelerated marketing and field services.   

MortgageFlex Systems Releases Branch Portal

MortgageFlex Systems Inc., Jacksonville, Fla., released the LoanQuest Origination Branch Portal for mortgage lending.  

The Portal lets anyone at any location input leads, take loan applications and check status, eliminating the need for handwritten notes and phone calls to loan officers. The Branch portal integrates with the LoanQuest loan origination system and provides users with real-time data.  

Altisource Acquires RentRange, Investability

Altisource Portfolio Solutions SA, Luxembourg, announced acquisitions of both RentRange and Investability.  

RentRange is a provider of rental home data and information to the financial services and real estate industries, delivering address and geography level data, analytics and rent-based valuation services for single and multi-family properties.  

Investability is an online residential real estate search and acquisition platform that uses data and analytics to allow real estate investors to access estimated cash flow, capitalization rate, net yield and market value on properties for sale in the United States.  

Together, the acquired businesses will add to Altisource's real estate capabilities by providing customers with pricing information about rental home investments and access to valuable investment property inventory.  

Seroka Introduces Initiative to Help Lenders Uncover Marketing Opportunities of TRID

Seroka, Waukesha, Wis., launched an initiative to help lenders take full advantage of hidden marketing opportunities under the Consumer Financial Protection Bureau's TILA/RESPA Integrated Disclosures.  

Specifically, the firm will assist lenders with:

--Creating materials that summarize TRID documents, thereby reducing the potential for borrower frustration

--Developing a strategy that leverages TRID requirements in order to impress their customers with service, enhancing trust, loyalty and referral opportunities

--Auditing TRID communication materials to ensure the marketing message is borrower-friendly

--Differentiating their company with each TRID touch point  

Pavaso Completes End-to-End Real Estate Process with Agent Sales Contract Negotiation Tool

Pavaso, Plano, Texas, announced completion of its end-to-end digital process for the mortgage/real estate industry with addition of its sales contract negotiation tool for real estate agents. The tool allows the deal to start digitally and flow through their established process with lenders and settlement agents, creating a unified modern experience for consumers.  

The process brings all transaction stakeholders together in a secure, collaborative portal. Lenders, settlement agents, real estate agents, consumers, attorneys, service providers and investors now have functionality to participate in a digital real estate lifecycle.  

Vantage Production: 'Distinct Signs' that Regulatory, Business Environment Favors Mid-Tier Mortgage Bankers

The current market environment of increased regulation is putting significant pressure on the largest banks and has created a growing opportunity for mainstream mortgage bankers, according to Vantage Production LLC, Red Bank, N.J.  

Sue Woodard, president and CEO of Vantage Production, said mainstream mortgage bankers have an "unprecedented opportunity" to grow market share and influence across the country. "Very large banks that formerly dominated are leaving the field for a variety of reasons, some of them regulatory and others of them financial," she said. "But the market won't sustain a vacuum, and many companies are moving to seize market share within their existing operating areas, while others are focused on expanding into new territories."  

Another advantage mainstream companies have over the very large lenders is the big lender mindset for building technology rather than buying it, Woodard said. The mainstream lending community is also more able to leverage the innovations coming out of the technology sector, Woodard said, due to less bureaucracy and fewer decision making layers when compared to mega-lenders.  

MRG Miracle Online Now Integrated with Capsilon DocVelocity

MRG Document Technologies, Dallas, and Capsilon, San Francisco, announced that MRG Miracle Online document preparation and compliance software is now integrated with the Capsilon DocVelocity document and data management platform. In addition, the companies announced that MRG has joined the Capsilon Partner Network.  

Using the integration, Capsilon DocVelocity customers save time and eliminate errors associated with the process of downloading disclosure packages, uploading them into the correct electronic loan folder in DocVelocity, and assembling the correct documents into packages to send to borrowers to sign electronically. This process is now automated.  

The Mortgage Collaborative Adds Seven New Lender Members

The Mortgage Collaborative, San Diego, added seven new lenders to its national network of originating members.  

New member companies include American Mortgage Service Co., Cincinnati; First Commonwealth Bank, Indiana, Pa.; FirstBank, Franklin, Tenn.; Independent Mortgage, Newtown, Mass.; MegaStar Financial Corp., Denver; Norcom Mortgage, Avon, Conn.; and Northpointe Bank, Grand Rapids, Mich.

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