Residential Briefs

MBA NewsLink Staff

May 10, 2017

Black Knight, Lender Price Introduce a Point-of-Sale Digital User Interface
Black Knight Financial Services Inc. Jacksonville, Fla., announced it is working with Lender Price to offer a consumer-facing interface that will deliver a digital loan application process.

Through Black Knight's integration with Lender Price's advanced digital user interface and other capabilities, Black Knight's LoanSphere Empower loan origination system clients can now offer their customers the ability to apply for a loan online from virtually any mobile device. Lender Price's digital loan application interface, which can be custom-branded and configured to each lender's specific requirements, is integrated with Black Knight's Empower LOS.

DIMONT Expands Collateral Loss Mitigation Department
DIMONT, Dallas, announced an expansion of its collateral loss mitigation department.

Encompassing all of DIMONT's services including hazard claims adjustment, investor claims management, flood insurance valuation and loss draft management, the collateral loss mitigation department allows the company to function as a disaggregated service provider, meaning that clients are free to utilize DIMONT for all or just a combination of some of its four services.

Texas Capital Bank Implements DocMagic's Total eClose for eWarehouse Lending
DocMagic Inc., Torrance, Calif., announced that Texas Capital Bank implemented its Total eClose service. The implementation enables the bank to function as an eWarehouse lender. It can now accept and fund eNotes from its lender customers.

Total eClose is a single-source, centralized platform to enable a completely paperless digital closing. Texas Capital Bank recently funded its first eNote with a key lender client using DocMagic's eMortgage technology suite. The eNote was instantly delivered to the bank, registered with MERS and securely stored in DocMagic's eVault.

Black Knight Financial Services Adds New Digital Framework to LoanSphere
LoanSphere Empower, a loan origination system from Black Knight Financial Services Inc., Jacksonville, Fla., now features a new Representational State Transfer Application Program Interface framework.

The framework enables lenders to provide digital capabilities to consumers and loan officers with the ability to interact with Empower data and other LOS capabilities from internet-enabled devices, such as tablets, smartphones or laptops, without needing to directly access the LOS.

ReverseVision Expands RV University
ReverseVision, San Diego, announced expansion of its RV University education and training program with a three-day Accelerated Loan Originator Training course available live each month at ReverseVision's San Diego training facility.

Launched in March, the live training course is specifically designed for loan originators and processors looking for quality Home Equity Conversion Mortgage education and software training. Both front-line originators and managers will benefit from programming designed to accelerate the HECM origination process and position companies to achieve optimum results.

Churchill Mortgage Provides High School Students with Curriculum on Personal Financial Management
Churchill Mortgage, Brentwood, Tenn., is providing four high schools with Ramsey Solutions' Foundations in Personal Finance, a full curriculum that teaches students how to manage their finances and build wealth to achieve a sound financial future.

The high schools include: Brentwood High School (Brentwood, Tenn.), Greenwood High School (Greenwood, S.C.), Pine Creek High School (Colorado Springs, Colo.) and South Ridge High School (Beaverton, Ore.).

Loan Vision Team Launches Super User Training
Loan Vision, Greensburg, Pa., announced it will host the company's first intensive training course designed for end users. The Loan Vision team's first Super User training was developed to enhance users' knowledge of current system functions and introduce them to its latest functionality.

Offered exclusively to system users, the training delves key accounting processes. Through a series of sessions, users will gain significant experience with general ledger functions surrounding journals and recurring journals, financial and branch reporting cash management, and the solution's wide range of loan-level functionality.

The Super User training will be hosted by Loan Vision at its office headquarters in Greensburg, PA, with the first session taking place May 22-25, 2017.

Mid America Mortgage Purchases $2.7 Billion in Mortgage Servicing Rights
Mid America Mortgage Inc., Addison, Texas, announced it mortgage servicing rights for $2.7 billion in government loans. The portfolio includes a number of delinquent VA- and FHA-insured loans.

The sale was completed at the end of March; LoanCare, Mid America's sub-servicer, will take possession of the purchased MSRs on May 2.

New Legislation Enables Massachusetts Jurisdictions to Electronically Record Land Court Documents
Simplifile, Provo, Utah, announced it is now electronically recording Land Court documents in the Commonwealth of Massachusetts for the first time.

In Massachusetts, 80 percent of real property is "recorded land" whose record keeping is conducted by the recorded land department. The remaining 20 percent of real property, called "registered land," is subject to stricter policies and managed by the registered land department, also known as the Land Court. Land registration documents related to registered land are commonly referred to as "Land Court documents."

Until recently, Massachusetts law dictated that recorders must retain original, hard-copy Land Court documents, making electronic recording of those documents impossible. Early this year, however, the governor of Massachusetts signed into law House Bill 3862, overturning the requirement and allowing registers of deeds throughout the state to e-record Land Court documents for the first time.

Ventana Home Mortgage enClose to Help Launch New Mortgage Conduit Business
OpenClose, West Palm Beach, Fla., announced that Ventana Home Mortgage LLC a residential mortgage conduit aggregator with a focus on the non-QM market, signed with the company to use its OC Correspondent module.

OC Correspondent enables Ventana correspondent lenders to electronically submit loans for swift review and acceptance. It consists of a seller-facing portal, automated eligibility and decisioning, quality controls, lock notifications, real-time pipeline status, custom-configured workflows, compliance, reporting, document management and an imaging system.

Clayton Holdings Offers Internal Audit Services Program
Clayton Holdings LLC, Tampa, Fla., developed an enhanced internal audit services program designed to help bank and lender clients develop, manage and enhance their internal risks and controls programs and comply with new government-sponsored enterprise and Consumer Financial Protection Bureau requirements.

Offered by Clayton's consulting division, the program provides internal audit activities in several areas, including risk assessment design/performance; turnkey development of internal audit functions; internal audit process reviews/enhancement; and remediation of gaps in existing audit programs.

Share this article