Residential Briefs

MBA (8/19/2008 ) MBA Staff
PHH Mortgage Taps MindBox
MDA MindBox Inc, Los Angeles, a provider in automating business and decision processes, announced that PHH Mortgage, a subsidiary of PHH Corp., rolled out MindBox's ARTOptimize product suite to enhance its current pricing platform.
ARTOptimize includes a pricing decisioning engine that enables PHH Mortgage to price individual loans based upon various key loan parameters. The solution also includes an enhanced Power Editor Maintenance Environment that provides users with increased capabilities for managing pricing rules and policies without support from IT departments.

Nationstar Mortgage Selects Overture’s Mozart Decision Engine
Overture Technologies, Bethesda, Md., a developer of decisioning technology, announced that Nationstar Mortgage, Dallas, selected Overture’s Mozart Decision Engine and Mozart point-of-sale user interface as its direct-to-consumer application intake and enterprise best-fit and automated underwriting decisioning engine for its new retail operations.

In addition to defining the overall level of effort and consulting on rules structures, Overture’s Rapid Solution Session also outlines the scope of the project, ranks the needs of the client company from absolutely necessary to desirable, defines the integration model, and determines the size of third party technology interfacing efforts, in addition to defining the level of effort for mapping third party product eligibility rules and pricing to the Mozart Decision Engine.

First Houston Announces Residential Mortgage Consultants as New Affiliate
First Houston Mortgage, a mortgage banking firm licensed in 20 states announced Residential Mortgage Consultants, a lender serving the St. Louis area for more than 10 years, as its latest affiliate branch.

RMC will incorporate First Houston’s products and services into its own business practices, including access to an offshore facility for loan processing assistance, loan pricing, electronic signature capability, in-house underwriting and a paperless lending platform.

Zillow.com Launches Showcase Ads for Local Real Estate Advertisers
Zillow.com, Seattle, announced launch of Showcase Ads, a self-service advertising platform for local professionals interested in reaching Zillow’s audience of homeowners, buyers and sellers.

Real estate agents, lenders and other local advertisers can purchase 25, 50, 75 or 100 percent of available ad views on searches for homes within a given ZIP code, allowing them to target only those localities they are most interested in reaching with their message.

AHMSI Contracts with LPS
Lender Processing Services Inc., Jacksonville, Fla., a provider of integrated technology and services to the mortgage industry, announced that American Home Mortgage Servicing Inc. signed a multiyear contract to service its loans on LPS' Mortgage Servicing Package and to use LPS Desktop for workflow management across all mortgage-related activities.

In partnership with LPS, AHMSI has converted 175,000 loans to LPS' servicing system. These loans are in addition to the 300,000 loans currently serviced using MSP that AHMSI recently acquired from another servicer.