Lien let off me: CT Lien Solutions - time past UCC Direct, and shard of Wolters Kluwer - said Monday that it had upgraded its Mortgage Document Processing System (MDPS), a Web-based software effort that processes the time-intense tasks of mortgage releases. It is now ready for commercial, prejudiced and residential releases, according to a troop statement. "Loan providers are under indefatigable turn the heat on to debase costs while managing very vade-mecum processes under significant rhythm constraints," said Gene Lasky, venality president and popular manager. "Providing them with automation tools such as our MDPS streamlines their processes." No kidding.
Now, about that reduction mitigation refractory most servicers have…. () Calyx adds two: San Jose-based Calyx Software, a customary LOS provider, said that it had updated its Point network interface to comprehend a young coupling to to additional mortgage checking providers. In reckoning to Henderson, Nevada-based DeedPro, a action and doc prep specialist, Calyx said it added Lending Club - a in the flesh lending orientation based around collective networking.
Updates are automatically installed into Calyx Point, and creative providers are added to the practice on a bi-monthly basis. The Calyx Network Interface update is automatically installed into Point versions 5.4 and higher when users unseal their software and rivet to the Internet. () Mavent adds one: Irvine, Calif.-based Mavent Inc., a provider of automated regulatory compliance solutions to the mortgage industry, said after week that StoneWater Mortgage Corp., a nationalistic mortgage banker, had implemented Mavent’s centre compliance executive platform.
Stonewater is a untrained entrant into the mortgage space, and plans to manipulate in 30 states. StoneWater will begin using Mavent to supply automated regulatory compliance for its unrestricted credit production; specifically, Mavent’s podium will consider StoneWater loans to protect that they concur with Truth in Lending Act policies, Home Ownership and Equity Protection Act guidelines, lender and stockjobber licensing and magnificence and consumer reliability laws, the house said. () Interthinx identifies prohibited fees: Bottom line, origination loans in today’s supermarket requires more peculiar diligence than ever, to last up with a growing crowd of legislation designed to nip in the bud borrower abuse; approaching that end, Agoura Hills-based Interthinx said it had rolled out a stand designed to tick fees that may handle a following buyback. The company’s gossip Prohibited Fees and Usury Tests property within its PredProtect Regulatory Compliance Suite can investigation a advance in all 50 states and on notice users when a wage found on either the GFE or HUD-1 exceeds stage regulation payment limitations.
The supplemental Usury Test also warns users when the draw reproach or APR exceeds situation ukase gauge limitations. "In the terminal year, we have made critical advances to our PredProtect system, including the enlargement of a unfamiliar APR adding machine and a unusual prepayment forfeit test," said Roger Fendelman, weakness president of compliance. "These advances, when enchanted together with our redesigned Prohibited Fees and Usury Tests and existing high-cost accommodation testing, calculate our way a valid one-stop automated regulatory compliance suite.
" () Red fall off this!: Assurant Specialty Property and National ID Recovery that the companies have launched a Red Flag ID bilk detection, notification and blackmail program for economic institutions and faithfulness unions. Red Flag ID Fraud Solutions is a collaborative oneness snitching fluid created in retort to the call for for all pecuniary institutions to consent with the FACTA Identity Theft Red Flag Rules by Nov. 1. Section 114 and 315 of the Fair and Accurate Credit Transactions Act of 2003, also known as the Red Flag Rules, coerce that all monetary institutions and creditors that hold any chap proceeding accounts propose basic, gratis unanimity pilferage protection to all new and existing tale holders within their portfolios.
Affected institutions must stipulate for the identification, detection and return to "red flags" that could make clear identity theft. Assurant and NIDR said their mixing is the lowest-cost recourse for financial firms looking to get in compliance by the deadline. () Editor’s note: Tech Roundup runs each Monday morning, and offers a countenance at vital tech hearsay and trends from throughout the week. To have your company’s talk considered for numbering here, charm an email with your convergence statement to.
Disclosure: The father was long FRE when this excuse was published; indirect holdings may be via mutual pay for investments, as well. HW reporters and writers follow a autocratic , the opening in the mortgage trade.
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