MBA NewsLink Staff
Solidifi Acquires Linear Title and Closing
Solidifi, Buffalo, N.Y., a provider of real estate valuation services, announced it acquired Linear Title & Closing LTD, Middleton, R.I., an independent title search and closing provider for refinance, purchase, short sale and REO transactions.
The acquisition totaled $96 million, Solidifi said, subject to certain performance metrics.
Solidifi CEO said adding Linear's services to Solidifi's existing market position in property valuations gives the company a more complete suite of services and expands its market share.
With the acquisition, Solidifi manages more than 100,000 independent appraisers, abstractors, notaries, attorneys, brokers and real estate professionals that collect and assess key attributes of individual properties. The acquisition is Solidifi's third since 2013, following on purchases of Kirchmeyer & Associates and Southwest Financial Services Ltd. Linear's offices will remain in Middletown, RI. The transaction brings Solidifi's total employee count to more than 700.
NTC Releases White Paper on Evolution of eRecording
Nationwide Title Clearing, Palm Harbor, Fla., released a White Paper, The Evolution of eRecording from the County Recorder's Perspective. The paper takes an inside look at the challenges that remain to completely paperless public record document recording.
"Many have long assumed that county government officials, particularly county recorders, have been working against the industry's move to electronic recording of documents into the public record," said NTC CEO John Hillman. "In fact, these hard working professionals have been among the strongest proponents of eRecording and are still working to help our industry get the paper out of our process."
The paper introduces readers to four public records professionals who have worked with the industry to smooth the process of recording residential mortgage documents into the public record. It also provides tips and advice for solving the document-related problems that county recorders see most.
The white paper is available at www.nwtc.com.
Wolters Kluwer, eOriginal Partner on eClosing, Securitization
Wolters Kluwer, Minneapolis, announced it teamed with eOriginal Inc., a provider of digital transaction management services, to add eVaulting and eClosing capabilities to its Expere document service to deliver eClosing functionality for its banking customers.
The integration will allow Expere users to utilize eOriginal's plug and play digital mortgage platform. It will also enhance electronic delivery and mortgage loan document management capabilities throughout the mortgage lending process, including securitization to either a MERS or non-MERS buyer. Additionally, the integration will give lenders more flexibility in meeting the requirements of TILA-RESPA Integrated Disclosure and the opportunity to better serve customers based on their preferences.
Freddie Mac Adds Loan Closing Advisor, Loan Product Advisor, New Functionality to Loan Advisor Suite for Summer Rollout
Freddie Mac, McLean, Va., added tools and capabilities--Loan Closing Advisor, Loan Product Advisor and Business Intelligence--to its Loan Advisor Suite.
Expected to begin a phased rollout this summer, Loan Advisor Suite is designed to give Freddie Mac customers access to loan data and Freddie Mac's array of loan production and delivery tools either through a single sign-on portal and/or their loan origination system. Once signed on, lenders can move between Loan Advisor Suite functionalities they are credentialed to use and start applying the actionable feedback they receive.
NOVA Home Loans Chooses ReverseVision Exchange Software
ReverseVision, San Diego announced that NOVA Home Loans, Tucson, Ariz.-based mortgage lender, selected RV Exchange as its reverse mortgage loan origination software. NOVA has originated reverse mortgages as a correspondent lender since 2014.
RVX is ReverseVision's flagship product. The LOS serves as a centralized exchange, connecting all participants in the lifecycle of a reverse mortgage by allowing them to log in to a single system to share documents and information for each part of the loan process.