Residential Briefs

MBA NewsLink Staff

August 14, 2018

Promontory MortgagePath Integrates with Street Solutions
Promontory MortgagePath, New York, a provider of mortgage technology and loan fulfillment services, announced its Promontory Fulfillment Services unit integrated its loan review services with Street Solutions Inc. Loan Management System, a Jersey City, N.J.-based provider of product, pricing and loan management systems for hedge funds and investors buying correspondent loans.

With the integration, correspondent sellers can upload and submit credit packages for pre-close eligibility review all within the LMS portal. Loan data and documents are automatically transferred to PFS improving data accuracy and expediting review turn-times.

Verus Mortgage Capital Increases Loan Amounts Investor Programs
Verus Mortgage Capital, Washington, D.C., made updates to its Investor Solutions loan program. Loan amounts for all four of its Investor Programs increased from $2 million to $5 million.

In addition, Verus' bank statement programs and debt service coverage ratio now go up to 80 percent from 75 percent and its debt-to-income ratios have increased from 43 percent to 50 percent.

CoreLogic Launches Hazard HQ
CoreLogic, Irvine, Calif., launched a publicly accessible risk information resource center, Hazard HQ. This new information hub will offer individuals, media and companies with analyses and data insights on immediate risks natural catastrophes pose to properties across the country.

As comprehensive risk assessment needs increase alongside growing economic losses from natural catastrophes, Hazard HQ offers a risk perspective for individuals and companies who wish to understand how hazards such as earthquakes, floods, hurricanes, severe convective storms, wildfires, wind and volcanic activity can impact their regions. The ongoing California wildfires are the subject of the latest Hazard HQ risk summary, and will remain a focus as the fires continue to move through the state.

LendingQB, MortgageHippo Announce Integration
LendingQB, Costa Mesa, Calif., a provider of SaaS loan origination technology, partnered with MortgageHippo, Chicago, creators of a borrower-centric digital lending platform. This integration allows lenders to create workflows that connect the consumer journey throughout the mortgage process with the back-office processing and underwriting functions of the LOS.

This integration allows borrowers and loan officers a digital mortgage experience through customization designed for an efficient and smoother lending process. MortgageHippo also captures documents and data and transfers it back into the LOS for less reliance on manual inputs by the loan officer. This exchange of data allows MortgageHippo to sync borrower data with the LOS for a secure exchange of borrower data.

AmeriSave Launches Multi-Channel Messaging
AmeriSave Mortgage Corp., Atlanta, formed a partnership with botsplash, a digital messaging platform, to connect their loan originators to consumers utilizing botsplash's centralized messaging hub to engage with prospective customers via chat, text or Facebook.

Custom integrations with AmeriSave's internal systems allows loan originators the ability to engage with customers across multiple messaging platforms.

Ginnie Mae July MBS Outstanding Increases to $1.982 Trillion
Ginnie Mae, Washington, D.C., said issuance of its mortgage-backed securities totaled $36.77 billion in July.

A breakdown of July issuance includes $35.383 billion of Ginnie Mae II MBS and $1.391 billion of Ginnie Mae I MBS, which includes $1.229 billion of loans for multifamily housing. MBS issuance for Fiscal Year 2018 to the end of July totaled $360.111 billion. Ginnie Mae's total outstanding principal balance of $1.982 trillion is an increase from $1.857 trillion a year ago.

FinKube Publishes Digital Lending White Paper
FinKube, Dallas, a company that provides AI-powered Platform-as-a-Service product, published a white paper, "Simplifying the Digital Mortgage Process." The paper outlines risks lenders face when making choices about the technologies they employ on the front ends of their mortgage origination processes.

The paper outlines four objectives a lender must achieve if they hope to compete with the nation's largest fintech lenders. It also explains how to win more customers without investing in an expensive call center, such as the nation's largest firms have done in order to serve as the back office for their digital front ends.

The paper is available at

Wolters Kluwer White Paper Assesses Fintech Announcements by U.S. Federal Agencies
Wolters Kluwer, Minneapolis, published "The U.S. Treasury Fintech Report and the OCC Fintech Announcement: What They Mean for Banks and Fintechs." The paper, intended for banking and fintech audiences, summarizes key elements of the two agencies' recent announcements on innovation and advancing the use of financial technologies in the U.S. banking industry.

In highlighting potential impacts for banks and fintech firms, author Stevie Conlon, Vice President, Tax and Regulatory Counsel, Wolters Kluwer, views the July 31 pronouncements by the U.S. Treasury and Office of the Comptroller of the Currency as important developments for banks, credit unions and fintechs, with broader implications for regulators and consumers.

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