Residential Briefs

MBA (7/29/2008 ) Palaparty, Vijay
StoneWater Selects MindBox Technology
StoneWater Mortgage, Tucson, Ariz., a wholesale mortgage lender, selected technology from MDA MindBox Inc., Los Angeles, provider of business and decision process automation. StoneWater selected MindBox's ARTOptimize and Power Editor to manage its loan product and pricing processes.
Integration of the MindBox applications into StoneWater's broker portal, H2O Online, enables brokers to apply for mortgages online and receive loan approval decisions, qualifying conditions and alternative loan suggestions.

Advantage Systems Adds Dashboard to AMB Accounting Software
Advantage Systems, Irvine, Calif., a provider of accounting and contract management tools, added a dashboard analytics feature to its Accounting for Mortgage Bankers software package.

The feature expands the scope of traditional accounting systems so data can be more easily accessed by non-accounting staff. Data are displayed through charts and graphs. The feature can be used to study real-time loan profitability and help determine which loan products, branches and loan officers are most profitable. Another attribute is the ability to illustrate activity on loans even after closing, helping track amounts due from fees and ancillary expenses.

SigniaDocs Announces eSign eNsure
SigniaDocs, Houston, a provider of eMortgage services, announced an effort to protect lenders called eSign eNsure. It enforces compliant disclosure and closing practices by warranting the Good Faith Estimate, the Truth in Lending Statement and annual percentage rate calculations by creating electronic date and time stamps in key disclosure areas, signifying borrower understanding and acceptance of the loan conditions.

Developed in collaboration with Shanks Darby PC, Houston, a law firm specializing in commercial and residential real estate law and compliance, eSign eNsure creates legal representation and warranty around processes that involve electronic loan document disclosures.

Harland Financial Markets CompliancePal
Harland Financial Solutions Inc., Lake Mary, Fla., will market Compliance Pal, software from Compliance Coach Inc., San Diego, that enables compliance with the FACT Act Identity Theft Red Flags Rule.

CompliancePal is a web-based software that walks the user through a series of questions and produces the required risk assessment, mapping of red flags to appropriate detection and response procedures, a written program, training materials and acompliance status report—components necessary to pass an audit.

Ellie Mae, SAVVIS, Establish Partnership
SAVVIS Inc., St. Louis, Mo., a provider of IT infrastructure services for business applications, announced an agreement with Ellie Mae, Pleasanton, Calif., a provider of software and services for the mortgage industry. Ellie Mae will relocate and consolidate its U.S.-based IT infrastructure into two SAVVIS data centers in Santa Clara, Calif., and Chicago, leveraging a single-vendor environment to enhance connectivity between its redundant data centers.

Using SAVVIS’ IT infrastructure, Ellie Mae aims to deploy its web-based business services, including its Encompass Mortgage Management Solution, with greater efficiency and at lower cost. The partnership will feature SAVVIS’ Application Transport Network, which is integrated with most of its 29 data centers worldwide, virtualizing delivery of enterprise applications.

Pinnacle Capital Mortgage Taps Loan Score
Pinnacle Capital Mortgage Corp., a wholesale mortgage lender, partnered with Loan Score Decisioning Systems, Irvine, Calif., to utilize its decisioning and integration technology with its back-end loan processing system, Del Mar DataTrac. Loan Score technology allows PCM to automate product eligibility, pricing and underwriting approvals at the point-of-sale for brokers and also within DataTrac for operations staff.

Just Price Solutions Streamlines Mortgage Resolutions
Just Price Solutions, Pasadena, Calif., nonprofit technology subsidiary of Neighborhood Housing Services of America, announced a process to determine workable loss-mitigation options for borrowers, loan servicers and lenders.

By automating situational analysis, the process gives financial counselors, loan servicers and government stakeholders tools to communicate via the web and implement viable options for borrowers. Just Price Solutions allows real-time collaboration between loan counselors and servicers to determine borrower capability to sustain a fixed-rate mortgage and to identify alternatives to foreclosure.