Residential Briefs

MBA NewsLink Staff

March 02, 2018

Veros Develops VeroPACE to Help PACE Lenders Comply with New Regulation
Veros Real Estate Solutions, Santa Ana, Calif., developed a product for lenders specializing in PACE (Property Assessed Clean Energy) loans in California, where new compliance requirements went into effect on January 1.

VeroPACE, available through the VeroSELECT ordering platform, will generate, analyze, rank and report the multiple Automated Valuation Models now required for PACE lending by California State Assembly Bill 1284 and the companion State Senate Bill 242.

When VeroPACE is ordered through the VeroSELECT platform, a single data call is made, which generates a "cascade" through which up to 10 AVMs may be run to increase the likelihood of getting a hit. The VeroSELECT system stops requesting AVMs once it has received three valid hits. VeroPACE then determines the AVM with the highest confidence score, calculates the average of its high and low values, and returns it to the lender in a standardized data format. VeroPACE also generates a coversheet with all the data elements that can be put in a file of supplemental information.

CBCInnovis Integrates with MortgageHippo
CBCInnovis, Columbus, Ohio, announced an integration of its credit data with MortgageHippo.

MortgageHippo offers lenders a customizable point-of-sale product that allows borrowers to apply for a mortgage and complete the entire transaction online. Their digital mortgage platform delivers a borrower profile to the loan officer capable of being imported into an existing loan origination system. That profile includes the ability for applicants to authorize and request their credit at the Point-of-Sale. Addition of CBCInnovis credit to the MortgageHippo platform will allow loan officers to maximize time and efficiency by receiving credit data within the borrower profile generated from MortgageHippo's mobile-ready online application.

LendingQB, PitchPoint Solutions Integrate to Mitigate Wire Transfer Fraud Among Lenders
LendingQB, Costa Mesa, Calif., partnered with PitchPoint Solutions, a national provider of fraud detection and verification services, to provide lenders stronger tools to protect against wire transfer fraud.

Through this integration, customers of LendingQB have access to PitchPoint's Bank Account Verification and Settlement Agent Vetting tools. Bank Account Verification verifies an account holder's name, routing number and account number via a secure financial network, while Settlement Agent Report vets the settlement company to ensure it is in good standing and compliant with Consumer Financial Protection Bureau and investor requirements.

Equifax Unveils New Analytic Dataset; Integrates with Entersekt
Equifax Inc., Atlanta, introduced Analytic Dataset, a new analytic tool that provides borrower-level data in an anonymous and non-aggregated format.

The dataset provides key information for researchers and modelers such as credit risk scores, geography, debt balances and delinquency status at the loan level for all types of consumer loan obligations and asset classes.

Equifax also announced a partnership with Entersekt, a provider of push-based authentication and mobile app security. Equifax has licensed Entersekt's product Transakt to serve as an additional layer of security protecting the Equifax online and mobile services.

Transakt allows consumers to play an active role in safeguarding their digital identities and accounts. Whenever access to a digital identity or account is required, an authentication request is pushed to their phone or tablet in real time. They approve or block access by simply tapping Accept or Reject.

Qualia Achieves ISO 27001 Certification
Qualia announced that it is an ISO/IEC 27001:2013 certified provider whose Information Security Management System has received third-party accreditation from the International Standards Organization.

ISO/IEC 27001:2013 is an information security management system standard published in October 2013 by the International Organization for Standardization and the International Electrotechnical Commission. Compliance with this internationally recognized standard confirms that Qualia's security management program is comprehensive and follows leading practices.

CUMAnet Selects Simplifile Collaboration, Post Closing Services
Simplifile, Provo, Utah, announced CUMAnet has begun using Simplifile Collaboration and Post Closing services to provide credit union clients with a centralized platform that facilitates the exchange of information with settlement partners. CUMAnet intends to expand usage to facilitate electronic document recording for mortgage satisfactions.

Simplifile Collaboration and Post Closing services enable lenders to share, collaborate, track and audit data and documents from the initial loan application down the pipeline to title delivery. The system updates all file and loan status changes in real time, instantly notifying lenders and settlement agents.

Calyx Software Launches Zip
Calyx Software, Dallas, launched Zip, a loan interview platform that loan originators can deliver to prospective borrowers via a branded URL.

Zip allows borrowers to begin the loan application process online or via any mobile device. The Zip interview prompts borrowers with questions that apply to their unique situation and loan inquiry, designed to improve the borrower's experience and the quality of leads originators receive.

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