Technology

Large lenders eager to leverage service-oriented architecture to extend their return on investment from legacy systems, take note: Los Gatos Calif.-based Fiorano Software Inc. has announced a collaboration with mainframe integration specialist GT Software, Atlanta.Technical support staff from GT Software will facilitate enterprise integration of mainframe assets for customers of Fiorano SOA 2007, the companies said. The collaboration is intended "to simplify SOA-based integration in extremely complex environments, enabling developers to establish services more easily and integrate mainframe data of all types into the Fiorano platform," they said. The platform utilizes 60 pre-built business components and data adapters to build fully functional workflows, addressing the mortgage-creation process from first application to post-closing and delivery. The companies can be found online at http://www.fiorano.com and http://www.gtsoftware.com.

Jess Hartmann has been named president of Mortgage Coach, a provider of mortgage planning software based in Irvine, Calif.Mr. Hartmann was most recently the chief executive officer of ISD Corp., a software development and services firm. Before joining ISD, he was the senior vice president and chief information officer at New Horizons, which Mortgage Coach said is the largest information technology training company in the world. The company pointed to Mr. Hartmann's "proven track record" of expanding companies and said it plans to use his expertise "to further penetrate the mortgage market and capitalize on the vast potential caused by the growing trend toward mortgage planning." Mortgage Coach can be found online at http://www.mortgagecoach.com.

Irvine, Calif.-based Mortgage Coach and Strategic Equity, Bellevue, Wash., have teamed up to create Equity Optimizer, a Web-based tool to help teach borrowers the importance of mortgage planning rather than simply acquiring a loan based on interest rates and fees.Equity Optimizer is based on Mortgage Coach's Marketing Machine, and features Steven Marshall's six-step scripted process to guide mortgage planners in the initial stages of educating potential borrowers on the principles of mortgage planning. Mr. Marshall is a mortgage planner and the founder of Strategic Equity. The program also features the tools already available on the Mortgage Coach Marketing Machine system, featuring the Personalized Mortgage Plan, the Annual Equity Review, and the Periodic Mortgage Review. Each of the products is supported by advice-delivery tools and printable marketing pieces that include explanations of Mortgage Coach's patented reports. The companies can be found on the Web at http://www.mortgagecoach.com and http://www.strategicequity.com.

In response to growing demand for reverse mortgages, Wolters Kluwer Financial Services, Minneapolis, is equipping lenders with a new line of electronic documents they can use to help comply with regulatory requirements tied to Home Equity Conversion Mortgages.A HECM, the most common form of reverse mortgage in the United States, allows borrowers aged 62 or older to convert the equity in their homes into income through a lump sum, monthly payments, or a line of credit offered by lenders. The WKFS line of electronic upfront disclosures and closing documents for HECMs allows lenders doing business in the top 10 states underwriting HECMs to create compliant document packages. The top 10 states are: California, Florida, Texas, New York, Michigan, New Jersey, Colorado, Illinois, Massachusetts, and Pennsylvania. The company plans to expand its HECM document line to other states based upon lender demand. WKFS can be found on the Web at http://www.wolterskluwerfs.com.

Former Guardian Mortgage Services executive Mary Kladde has gone out on her own to form Titan Lenders Corp., a closing, post-closing, and mortgage fulfillment services provider based in Denver.Titan services will act as a variable-cost alternative for mortgage bankers, brokers, and investors to increase their loan-closing capacity while reducing risk, errors, and overhead costs, the company said. Titan offers an established service model, extensive industry experience, and customized solutions automated by Cerberyx, a contemporary Web-based technology platform designed specifically for its processes, according to the company. Built upon the eSys Technologies platform for managing cost and increasing productivity for next-generation lenders, Titan's Cerberyx application is a Web-based information management tool providing a window into a lender's entire pipeline from application through sale of the loan.

RealEC Technologies Inc., Santa Ana, Calif., has announced that its business-to-business exchange has surpassed 31 million orders processed since its 1998 launch.The company also announced it has surpassed 2,000 participating lenders (including 17 of the top 20). On a monthly basis, the RealEC Collaborative Partner Network now processes more than 300,000 loans, 600,000 orders, 2 million documents, and 7 million "unique loan fulfillment events." Jointly owned by Fidelity National Information Services, Stewart Title Co., and LandAmerica Financial Group, the RealEC Exchange now bills itself as the industry's largest interconnected network of lenders and settlement service providers. The company can be found online at http://www.realec.com.

Fidelity National Information Services Inc., Jacksonville, Fla., has announced the acquisition of Applied Financial Technology, a provider of risk analytics, analysis, and data for the mortgage industry.The terms of the transaction were not disclosed. Fidelity said AFT's qualitative analytics can be fully integrated into various third-party systems and are used by brokers, banks, and investors to price, fund, trade, and hedge mortgages and mortgage-backed securities. "The importance of the analytic component that AFT will provide to FIS customers cannot be overemphasized," said Greg Whitworth, president of FIS Loan Portfolio Solutions. "In today's environment, lenders, loan servicers, and investors alike must incorporate meaningful analytics in the pricing and ongoing evaluation of loan performance." The company can be found online at http://www.fidelityinfoservices.com.

Byte Software has launched a new software development kit designed to make it easier for companies to integrate to their loan origination software.The SDK will allow Byte clients and third parties to develop customized applications between BytePro and BytePro Enterprise, the company reported at the National Association of Mortgage Brokers annual conference in Seattle. Specifically, software engineers will be able to import or export data in and out of BytePro using industry standards, including Fannie Mae and MISMO file formats. Custom add-ins can also be inserted directly within BytePro menus to allow users to complete core tasks without having to leave the application. Kirkland, Wash.-based Byte Software can be found on the Web at http://www.bytesoftware.com.

Jamison Law Group, Los Angeles, has announced the launch of Credit CRM, an out-of-the-box software and training system designed to empower mortgage originators to offer credit repair services to Americans with poor credit.Credit CRM includes full credit training as well as a credit and sales software system, unlimited telephone support, and a full Internet-based marketing system. Credit CRM is offered to businesses and individual entrepreneurs who are looking to start a credit repair business, and is often used as a supplemental business opportunity for mortgage professionals. The system provides Web-based sales management modules, over 20 hours of credit repair training, and a full marketing program. The announcement came at the National Association of Mortgage Brokers annual conference in Seattle. Jamison Law Group can be found on the Web at http://www.jamisonlawgroup.com.

In a move to enable affiliated credit reporting agencies to help borrowers raise their credit scores, Credit Systems Design has announced that it will make the credit analysis system Deal Maker Score available to its broad base of credit reporting company clients.The announcement came at the National Association of Mortgage Brokers annual conference in Seattle. CSD's affiliated credit reporting agencies service the mortgage industry's lenders and brokers on CSD's UltraAMPS mortgage processing system. By providing access to Deal Maker Score, CSD said it is making it easy for mortgage originators to show borrowers how they can raise their credit scores to a target score. CSD, which provides the technology that enables credit reporting companies to deliver merged credit reports to their clients, can be found online at http://www.creditsystemsdesign.com.