MBA NewsLink Staff
IndiSoft Rebrands Technology Platform to Sunesis
IndiSoft, a technology development firm that specializes in systems for the financial services industry, announced it rebranded its module-based RxOffice technology platform to Sunesis, an enterprise-wide platform providing more flexibility in work processes.
With Sunesis, IndiSoft offers clients unified products on a single platform along with a continuum of functionality versus modular components. Sunesis is delivered via the Platform as a Service model. The new platform has content for key regulatory requirements for audits and to oversee counterparties for any business process. The architecture within Sunesis is configurable.
Ginnie Mae Notifies Select Market Participants to Take Corrective Action to Control ‘Churning'
Ginnie Mae notified a small number of issuers who are outliers among market participants in the Ginnie Mae multi-issuer mortgage-backed securities on the metric of prepayment speeds.
Such deviations from market norms are not acceptable and put a veteran earned benefit at risk, Ginnie Mae said. This work builds off the Ginnie Mae/VA Loan Churn Task Force, which has been ongoing since September.
Issuers who have been notified are expected to deliver a corrective action plan that identifies immediate strategies to bring prepayment speeds in line with market peers. In the event issuers are unable to demonstrate a path to improved performance, said issuers risk being restricted from access to Ginnie Mae multi-issuer pools. Thereafter, those issuers may only have access to Ginnie Mae custom pools.
"We have an obligation to take necessary measures to prevent the lending practices of a few from impairing the performance of our multi-issuer securities, and thus raising the cost of homeownership for millions of Americans," said Michael Bright, Ginnie Mae Executive Vice President and Chief Operating Officer. "By addressing the anomalous performance of a few lenders, Ginnie Mae is acting to protect veterans, the broader Ginnie Mae program, the American taxpayer and the consumers we serve. We expect issuers receiving these notices to respond quickly, produce a corrective action plan and come into compliance with our program."
LERETA Launches Total Tax Solutions
LERETA, Los Angeles, announced release of Total Tax Solutions, a web-based platform designed to integrate loan servicing and tax service data, for use by standard tax reporting servicers.
The platform features dashboards, reporting, workflow management and built-in servicer guidelines for tax payment processing activities. TTS allow servicers to process a pre-cycle mini-audit, automate tax payments, open items, conduct tax research and review delinquencies and payments. The five modules on the platform are: Pre-Cycle Audit Manager, Tax Cycle Manager, Escrow Open Item Manager, Delinquency Manager and Task Research Manager.
ATTOM Data Solutions Acquires Onboard Informatics
ATTOM Data Solutions, Irvine, Calif., announced it acquired Onboard Informatics, a provider of neighborhood data and data-enabled turnkey products to the real estate industry.
Onboard's neighborhood data is being integrated into the ATTOM Data Warehouse, which blends property tax, deed, mortgage, foreclosure, environmental risk, natural hazard and neighborhood data for more than 155 million U.S. residential and commercial properties. A persistent, unique ID assigned to every property record in the ATTOM Data Warehouse--the ATTOM ID--will be used to link the new Onboard neighborhood data with all other datasets, and the combined data will be available through ATTOM's delivery services, including bulk file license, APIs and customized reports.
Blend Digital Mortgage Platform Approved for Fannie Mae's Day 1 Certainty
Blend, San Francisco, announced its platform has been approved to provide asset verification reports for the Desktop Underwriter validation service a component of Day 1 Certainty by Fannie Mae.
Fannie Mae's DU validation service is designed to provide customers with enhanced loan origination controls, improved processes and certainty around the borrower's assets, income and employment information, in addition to relief from representations and warranties on validated loan components. Blend lenders now have their loans with validated components automatically eligible for Day 1 Certainty.
Wipro Gallagher Solutions Announces Updates to NetOxygen LOS
Wipro Gallagher Solutions, Franklin, Tenn., announced release of Version 5.1 of its Loan Origination System, NetOxygen.
NetOxygen v5.1 provides a loan overview feature to offer users a bird's eye view of various attributes of a loan in the form of a dashboard. It also provides users the ability to look at various conditions associated with the loan and indicates the category of a condition, when a condition is due and the status of the condition. As part of WGS' focus to expand its list of service providers, it has added several interfaces to fully integrate with Fannie Mae's Day One Certainty and help lenders process loans in a more automated and streamlined fashion, while enabling a quicker time to close.
CertifID Completes $1.7M Seed Stage Financing
CertifID, Grand Rapids, Mich., announced it closed on its first round of financing totaling $1.7 million. The round was led by Grand Rapids based Wakestream Ventures and included several prominent angel investors. The financing round was initiated and oversubscribed within two days.
CertifID was founded in 2017. Its wire fraud prevention platform is designed to safely authenticate identities of transactional parties and share banking information securely. CertifID uses proprietary digital device analysis and knowledge-based authentication sequencing and provides a guarantee up to $500,000.
FirstClose Enhances Partnership with CRIF Lending Solutions
FirstClose, Austin, Texas, announced a new application programming interface as part of its partnership with CRIF Lending Solutions, a software provider for financial institutions.
FirstClose and CRIF Lending Solutions developed a user-friendly interface that enables lenders to process home equity loans from a single software. Lenders can launch the FirstClose web interface directly from CRIF ACTion. When orders are placed from the FirstClose/ACTion interface, data points from the FirstClose Report are sent back to ACTion, automatically populating the appropriate fields.