MBA NewsLink Staff
LoanScorecard Launches Pricer1; Revamps Website
LoanScorecard, Irvine, Calif., launched Pricer1, a personalized product and pricing engine for portfolio lenders and originators that can be accessed via web browser or mobile app.
Pricer1 allows portfolio lenders to instantly distribute their own rates and fees, as well as other investor pricing, to referral partners, third-party originators and builders via a custom-branded website and mobile app. Both the lender, and the originator can add their branding to the app and website, personalizing the presentation for their respective originators and customers.
Pricer1 operates within Calyx Point and PathSoftware and is also accessible via any web browser. It is currently available for download in the Google Play Store for Android devices and will soon be available in the Apple App Store for iOS devices.
LoanScorecard also unveiled its new brand identity and corporate website (www.loanscorecard.com). The new brand identity centers on the theme of "Solutions for Intelligent Lending," the company's new tagline, and conveys the evolution and expansion of LoanScorecard's solution-focused technologies.
Ernst Enhances Settlement Agent Gateway
Ernst Publishing Co., Albany, N.Y., announced an enhancement to its Settlement Agent Gateway that will give lenders more control and flexibility with their local relationships with settlement agents.
The Gateway is a collaborative fee management system that allows settlement agents to work with lenders to negotiate fees and then manage these fees in a web-based tool through which they certify the accuracy of their fees and then make them available to lenders who need to provide Loan Estimates mandated under the new requirements. This ensures full TRID compliance, protects the lenders from cures resulting from quoting the wrong fees and protects smaller settlement agent firms from being pushed out of the market due to non-compliance concerns.
ClosingCorp Launches SmartCalc Closing Costs Calculator
ClosingCorp, San Diego, released SmartCalc, an online, customizable closing costs calculator designed to help title companies be more efficient and deepen their relationships with lenders and realtors.
SmartCalc enables title companies to provide instant online quotes, including actual title and settlement rates and fees, transfer taxes and recording fees. Using this tool, lenders will be able to access accurate settlement services information 24/7. SmartCalc's personalized Seller Net Sheet shows the title, settlement services, transfer tax, recording fees and commission associated with the closing process.
Primary Residential Mortgage Reaches Agreement Over FHA-Insured Loans
Primary Residential Mortgage Inc., Salt Lake City, Utah, reached an agreement with the Department of Justice on behalf of HUD to resolve HUD's inquiry related to residential mortgage loan origination and underwriting for loans insured by the Federal Housing Administration. PRMI does not admit liability in its agreement with the Department of Justice.
PRMI fully cooperated with the inquiry and has agreed to a $5 million settlement, to avoid "expense, uncertainty and inconvenience" of litigation. The settlement does not affect PRMI's HUD approved mortgage status. PRMI will continue to offer FHA-insured loans.
Capsilon Releases eBook Advising Mortgage Lenders on Best Practices for Leveraging Automation
Capsilon Corp., San Francisco, introduced a free eBook, 6 Key Steps Lenders Must Automate to Succeed.
The book outlines how lenders can reduce the labor associated with mortgage loan production by up to 80 percent, and accelerate loan production, by automating several critical steps in the loan production process. The book can be downloaded at http://go.capsilon.com/pr-automation.
Pavaso, Residential Mortgage Corp Enable North Carolina's First eClosing
Lender Residential Mortgage Corp and real estate technology provider Pavaso enabled a North Carolina resident to complete the first residential eClosing in state history.
The eClosing took place at the Residential Mortgage Corp office in Fayetteville on September 30. Homebuyer Jacqueline Vaz finalized the "wet signing" by physically affixing her signature to a small number of documents specifically required by their investor. The remainder of documents requiring signature were finalized electronically.