Residential Briefs

MBA (4/18/2008 ) Palaparty, Vijay
Vuecentric Adds Credit Repair to MortgageDashboard
Vuecentric Inc., Austin, Texas, a provider of software for mortgage loan origination, released a module for use with its MortgageDashboard LOS, allowing mortgage originators to provide free credit analysis to borrowers. The new functionality is part of the MortgageDashboard Credit Center and is provided by Credit Source One, Las Vegas.

Credit Source One works with borrowers to reach target FICO scores and passes the prospect back to the loan officer to complete the loan application. MortgageDashboard is a web-based loan origination system that allows brokers to track and manage leads and upload paper documents for processing. The LOS can also gather leads from the web and enables brokers to provide short applications for use by realtors on their web sites, sending leads into the broker’s LOS.

Calyx Software to Provide Marketing Tools
Calyx Software, San Jose, Calif., a provider of loan origination and processing software, will integrate marketing templates into its Point loan origination software. The nine templates were created by Greg Frost, a loan originator who teaches and mentors loan professionals.

They contain customized ARM conversion letters, birthday cards, referral letters, tax preparation and after-closing notices available for borrowers, real estate agents, reverse mortgage borrowers, listing and selling agents. Each template corresponds to a report to ensure accuracy of names drawn from a user’s customer database.

MBS ProClose Launches ProClose Platinum Web Services
MBS ProClose, McLean, Va., a mortgage technology company providing closing document packages, launched its MISMO XML-native ProClose Platinum web service. Governed by rules-based automation, ProClose Platinum delivers a set of closing docs in PDF format that are ready to print and e-deliver after the loan file is completed.

MBS ProClose and Calyx Software, San Jose, Calif., a provider of loan marketing, originating and processing software, co-developed the network interface that allows users of Point to connect directly with ProClose Platinum web service in real time.

Built with MISMO at its core, ProClose Platinum accommodates any MISMO XML transfer without a data integration procedure, eliminating mapping exercises, discrepancies between program selections and incomplete pass-through of data from LOS to doc prep. Platinum partners with the end-user LOS to enhance loan file data yielding final XML data that will populate a set of compliant closing documents. From there, the XML is transferred into post closing and servicing applications.

Primary Residential Mortgage Adopts Optimal Blue Technology
Primary Residential Mortgage Inc., Salt Lake City, Utah, implemented a product eligibility and pricing engine technology from Optimal Blue, Plano, Texas, developer of a web-based platform that couples decisioning technology with content management for the mortgage industry.

Using the program through PRMI’s interface, the Platinum Banking Engine, originators can compare loan products. The system shows pricing, guidelines and investors, and allows loan officers to use an open book, hybrid or closed book model.

Whitebirch Planning 7.0 Debuts
Whitebirch Software Inc., Salem, Mass., a provider of business planning, forecasting and budgeting software, launched Whitebirch Planning 7.0, offering tools to customize planning models to meet financial and operational requirements of businesses.

Enhancements include the ability to extend Whitebirch Planning’s library of standard financial objects, called Business Building Blocks, with business-specific logic. New Line Item Sets have also been added. They automatically reference multiple line items for use in formulas and reports, regardless of when or where those lines are added to the model.

Mortgage Builder LOS Integrates with First American Flood Data
Mortgage Builder Software Inc., Southfield, Mich., a provider of end-to-end mortgage banking software, announced that First American Flood Data Services, Austin, has integrated its flood certification process into Mortgage Builder’s loan origination system, providing an instant response for a flood determination request.

Users of Mortgage Builder software can order a flood determination from within the system. The flood certificate is returned automatically with fields populated into the loan application. When requesting a flood certification in Mortgage Builder, a MISMO-compliant data file is transmitted to First American via web services. The data returned includes the census tract identifier, MSA identifier, county code and additional flood mapping fields indicating to the user if there is a flood insurance requirement. The automatic importation of flood data saves time and reduces errors as well as secondary market risks.

PowerDOX Provides Spanish Language Option
PowerDOX, a program from SourcingPoint Solutions, Garden Grove, Calif., that combines document imaging with web and multimedia technology to stimulate referrals and repeat business, is now available in Spanish.

The PowerDOX Media Branding and Marketing Program makes it possible for professionals in mortgage, real estate and finance to give their clients a disc containing digital copies of their transaction documents. The documents are accessible through a customized interface bearing the professional’s company name, logo, and contact information, so each PowerDOX CD or DVD also serves as a permanent marketing messenger for the professional, increasing the likelihood for future business with every viewing.