Commerce Velocity Unveils New Module

Responding to widespread interest in technology that improves the correspondent-investor transaction, Irvine, Calif.-based Commerce Velocity has announced the launch of a correspondent module that enables lenders to accept and then automatically decision and price loans submitted in flow, batch, or bulk mode.The module lets lenders offer their sellers customized portal views featuring simultaneous side-by-side spot, commitment, and bulk pricing capability. The module's customizable pipeline views highlight "next step" activities for each unique role/user, and allow lenders to monitor activity for correspondents, investors, and third-party service providers. Commerce Velocity said an unnamed Wall Street conduit will be implementing the system this spring, with another lender scheduled to implement in June. The company will be demonstrating the module at the MBA Technology Conference March 29-31 in San Diego. It can be found online at http://www.cvelocity.com.