Residential Briefs

MBA NewsLink Staff

March 13, 2019

Altisource Launches Bundled FHA Product
Altisource Portfolio Solutions S.A., Luxembourg, launched its bundled FHA product designed to provide customized asset management services for delinquent FHA loans.

The FHA offering typically begins with asset oversight at the 60-day delinquency mark and extends through the first Claims Without Conveyance of Title sale and, if required, the second chance sale. Using Equator, Altisource's residential loan default software and marketing platform, Altisource can help servicers manage the asset marketing and conveyance process (including field services, valuations, title services, online marketing and auctions) from one place. In addition, the Equator platform includes a proprietary FHA model that leverages data feeds and workflows to help optimize outcomes for servicers.

ClosingCorp Launched New Analytics Tool
ClosingCorp, San Diego, a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, announced a new analytics tool designed to give providers of settlement services better insight into market penetration, pricing trends and market potential.

ClosingCorp's Price Trends Market Analyzer enables users to see their market share on national, state and county levels; benchmark their pricing based on product type and geography, or compare pricing to that offered by the top and bottom providers in each market; and assess the addressable market for various products by evaluating volume and pricing trends on a national, state and county level.

Premium Title Publishes White Paper on Blockchain Disrupting Title and Settlement Industry
Premium Title, Luxembourg, a national provider of title and escrow services, released a white paper, Blockchain Disrupting the Title and Settlement Industry: A Practitioner's View. The white paper provides the benefits of blockchain and obstacles to overcome for blockchain to change how title insurance and settlement activity is performed within the real estate industry.

The paper cites numerous purported benefits for blockchain technology centering around four main categories: transactional integrity, security, elimination of third-party intermediaries and speed. It is with these core benefits in mind that the white paper looks at the title and settlement transaction and some obstacles that might need to be solved to realize these sweeping benefits.

The paper can be downloaded at

Plaza Home Mortgage Introduces Hybrid eClosingOption
Plaza Home Mortgage Inc., San Diego, a wholesale and correspondent mortgage lender, announced a new hybrid eClosing option on all conventional Fannie Mae and Freddie Mac loans.

The new option allows settlement agents to coordinate directly with borrowers and offer them the ability to review their closing documents electronically and execute most of documents online. Borrowers will receive their closing package electronically one to two days before the closing date, allowing them more time to review the documents and ask questions before they get to the closing table.

Floify Partners with Plaid to Automate Collection of Mortgage Borrower Asset Reports
Floify, Boulder, Colo., joined forces with Plaid, a technology platform and data network. The partnership enables lenders and loan originators to order and receive Plaid's Asset Reports from the Floify point-of-sale platform, by having consumers connect their bank account through Plaid.

Once integrated with Floify, Plaid can be configured to automatically trigger a request for borrower asset reports upon conversion of a prospect into a loan file, or manually trigger from an active loan file. After a Plaid request is initiated, borrowers are prompted to select their financial institution and enter their credentials via Plaid's front-end module. Upon successful login, the borrower's asset report is securely transmitted and synced to their corresponding loan file, which saves valuable time in the loan origination process.

CoreLogic, MTS Integrate with Ellie Mae Encompass
CoreLogic, Irvine, Calif., announced integration of its CondoSafe product with the Ellie Mae Encompass mortgage management platform. CondoSafe is a one-stop condo project review tool that enables lenders to have a single, consistent, standardized review process, allowing them to determine eligibility earlier in the process, resulting in quicker approvals.

The CondoSafe report alerts underwriters to potential Fannie Mae, Freddie Mac, Federal Housing Administration, Department of Veterans Affairs or other investor eligibility issues. Alerts are delivered in an underwriting-friendly, standardized format, allowing lenders to easily focus on areas that require more investigation. Additionally, documents such as CC&R's and Insurance documentation can also be obtained in an a la carte manner.

Additionally, MTS Software Solutions, Moorestown, N.J., announced its IntellaLend automated loan quality management and auditing technology will integrate into Encompass. The integration will allow lenders to more efficiently and securely share data between IntellaLend and Encompass to drive quality and efficiency in the loan origination process.

IntellaLend is a loan quality management and auditing platform that mitigates compliance defects found in loan packages across the mortgage lifecycle. Developed by MTS Software Solutions, a provider of enterprise technology to financial institutions, IntellaLend uses artificial intelligence and machine learning OCR technology to uncover common compliance and critical defects and dramatically improves quality assurance and profitability.

Simplifile Now E-recording in 1,900 Counties
Simplifile, Provo, Utah, announced Logan County, Ill., is the 1,900th jurisdiction to join Simplifile's e-recording network.

Using Simplifile's e-recording platform, recording offices electronically receive, stamp, record and return documents within minutes, which reduces documentation and processing errors. Settlement agents can also submit recording fees and other recording-related expenses directly through the Simplifile system, thus eliminating check-writing expenses.

Get Credit Healthy Integrates With ARIVE to Improve Borrower Credit Profiles
Get Credit Healthy Inc., Sunrise, Fla., announced a partnership with ARIVE.

Through a partnership with AIME, the Association of Independent Mortgage Experts, ARIVE will provide independent originators with the connections and tools to both compete in a crowded marketplace and serve increasingly tech-savvy borrowers nationwide.

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