Residential Briefs

MBA NewsLink Staff

May 16, 2019

Roostify, Docutech Integrate for Digital Lending
Roostify, San Francisco, finalized its integration with Docutech, a provider of document eSign, eClose and print fulfillment technology.

Roostify consumers can now view, complete and eSign documents, all within the Roostify platform. By leveraging Docutech's ConformX document generation engine and Solex eSign platforms, mortgage disclosure documents are created and presented to the consumer for completion and signature without having to use an outside application. Roostify's platform is accessible on mobile devices, so this process can be completed at any time and from anywhere,

Cherry Creek Mortgage Company Launches Mobile App for Real Estate Agents, Builder Partners
Cherry Creek Mortgage Co., Greenwood Village, Colo., launched Connections, an internally developed mobile app for iOS and Android devices designed to accelerate the mortgage process for real estate agents and builder partners.

Connections is part of a suite of new applications recently launched by Cherry Creek Mortgage that provide loan transparency, real-time collaboration and digital automation of critical touchpoints between the stakeholders involved in a residential mortgage loan. Connections provides real-time pipeline and loan status information, instant communication via push notifications, SMS, email and voice within the application, the ability to request and reissue loan pre-approvals, loan and affordability calculators.

WFG Lender Services Announces ‘Five-Second' Title Report
WFG Lender Services, Portland, Ore., in conjunction with its affiliated title insurance underwriter, WFG National Title Insurance Co., launched DecisionPoint to process title requests within seconds by using the borrower's name and the property address.

DecisionPoint uses a proprietary algorithm that delivers a full, detailed title report within five seconds, alerting lenders whether the title is "clean" or whether curative measures are necessary before a title insurance policy can be issued. As a result, lenders using DecisionPoint can better manage their loan pipeline by accelerating the processing of loans with clear title and closing faster, while also shifting more personnel and resources to cure problem loans. Combined, lenders can reduce their application-to-close timeframes, close more loans and improve borrower satisfaction.

BlackFin Group Launches Financial Services Consulting Practice
BlackFin Group, Irvine, Calif., a boutique-style consulting firm focused on mortgage banking and financial services, formally launched operations.

Leading BlackFin Group is Keith Kemph, CEO and founder of the firm, whose background includes business strategy, sales and marketing, operations, technology, training and culture transformation. BlackFin Group offers management consulting services designed to solve business problems, identify untapped business opportunities and implement organizational change.

TCN Worldwide Adds Cottonwood Commercial as Member Firm
TCN Worldwide Real Estate Services announced Cottonwood Commercial, a commercial brokerage in Shenandoah Valley, as its newest member.

Established in 1970, Cottonwood Commercial is a commercial real estate brokerage firm in Harrisonburg, Va., focusing on real estate services related to commercial and investment real estate transactions.

IDS Announces Conversion to ZenDesk
International Document Services Inc., Salt Lake City, Utah, converted its customer service platform to ZenDesk. The move is designed to better serve IDS customers and help the firm maintain its commitment to responding to all customer inquiries and requests.

ZenDesk Support provides IDS a system for tracking, prioritizing and solving customer support tickets. By keeping all customer support interactions in one place, communication is seamless, personal and efficient, aiding in customer service productivity and customer satisfaction. In addition, ZenDesk supports collaboration between the IDS Client Support Team and other internal departments on the same ticket to address complex support issues. The simplified dashboard also allows customers to submit and track help tickets.

Morningstar: High Prepayments Haven't Tarnished Credit Quality of Non-QM RMBS
Morningstar Credit Ratings, New York, issued its 1Q19 RMBS Quarterly Update, noting the credit performance of residential mortgage-backed securities Morningstar Credit Ratings rates backed by nonqualified mortgage loans, or non-QM RMBS, remained strong.

The report said serious delinquency rates (60 or more days past due) were generally low and the credit-enhancement levels for all rated bonds rose because of steady voluntary prepayments and no realized losses.

"Prepayments have been steady and remained relatively elevated, with most deals seeing prepayment rates above 20%," Morningstar said. "Typically, we are concerned about the quality of the loans left in the pool when prepayments are high, but we found that the prepaid loans and the remaining loans have a similar credit quality."

Ginnie Mae MBS Outstanding Increases to $2.063 Trillion
Ginnie Mae, Washington, D.C., said issuance of its mortgage-backed securities totaled $34.192 billion in April.

A breakdown of April issuance includes $32.675 billion of Ginnie Mae II MBS and $1.517 billion of Ginnie Mae I MBS, which includes $1.376 billion of loans for multifamily housing. Ginnie Mae's total outstanding principal balance of $2.063 trillion is an increase from $1.950 trillion a year ago.

Promontory Fulfillment Services Integrates with ComplianceEase
Promontory Fulfillment Services LLC, New York, a provider of mortgage fulfillment services, announced its white-label mortgage origination platform is now integrated with ComplianceEase's automated compliance platform, ComplianceAnalyzer.

The integration allows PFS to automatically audit mortgage loans for regulatory compliance with all federal, state and municipal regulations, including TRID and QM, as well as federal and state high-cost and anti-predatory lending violations. It also audits for compliance guidelines set by the secondary market and government-sponsored enterprises.

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