Technology

Vienna, Va.-based VirPack has been awarded a patent for its document management and imaging technology, MortgageWire has learned."This certifies that the e-packaging and e-delivery technology pioneered by VirPack is truly unique and provides value to both the lender and investor," stated VirPack president and CEO Michael Coar. The VirPack e-package contains all data, documents, images and other files permitting a business to share loan and other files with their partners, allowing fully automated processing through a free downloadable browser. The patent number is 7,191,392, issued by the U.S. Patent and Trademark Office.

AllRegs, an Eagan, Minn.-based online publisher of reference information for the residential mortgage lending industry, has announced that it will offer legal content support services through Lanahan & Reilley LLP, a mortgage banking law firm based in Santa Rosa, Calif.The organizations "are joining forces to offer the Ask the Expert service to help mortgage companies clarify the overwhelming changes in federal, state, and other regulations" that affect mortgage organizations, AllRegs said. Lanahan & Reilley will, through a premium service at AllRegs, provide clarification and guidance to the industry on such issues. AllRegs can be found on the Web at http://www.allregs.com.

Ellie Mae, Dublin, Calif., has launched Encompass WebCenter, a website that links mortgage originators with borrowers, Realtors, and other partners.The application enables two-way Web-based communication for all aspects of the loan process, including individual loan inquiries, requests, and status updates. The company said Encompass WebCenter serves as an information source for borrowers by securely relaying pertinent loan data straight from the originator's Encompass mortgage automation system, while also functioning as a marketing tool for the originator and broker by providing a borrower- and Realtor-centric informational Web presence. WebCenter can be customized with the originator's look and branding, and with the Setup Wizard, Ellie Mae says it can be set up within 15 minutes. The company can be found on the Web at http://www.elliemae.com.

The Independent Community Bankers of America has announced an expanded preferred service provider relationship with Wolters Kluwer Financial Services that will enable ICBA members to automate compliance and operational risk management processes for mortgage and other business lines.The ComplianceOne system offers enterprise-wide access to customer information, allowing community banks to open new accounts and complete transactions faster through a common database structure. "One of the biggest challenges facing community bankers today is how to address all of their key business initiatives with disparate processes and systems within their organizations," said Dan Clancy, the ICBA's senior vice president of services. "By offering ComplianceOne, ICBA is helping our community bank members address that problem by changing the way they integrate compliance, documentation, and data across their business." The ICBA can be found online at http://www.icba.org, and Wolters Kluwer can be found at http://www.wolterskluwer.com.

Dublin, Calif.-based Ellie Mae is poised to release a "next-generation" Encompass website to link mortgage originators with borrowers, Realtors, and other partners by enabling two-way Web-based communication for all aspects of the loan process.According to an Ellie Mae spokesman, the Encompass WebCenter connects directly into the Encompass mortgage automation system. The site, to be launched with the next Encompass release, marks a return to Ellie Mae's roots as a mortgage website provider -- a market it has since largely ceded to companies like Myers, Vlender, and a la mode. The site will be demonstrated at the Encompass user conference at the Hilton in San Francisco March 4-6, where the keynote speaker will be Doug Duncan, chief economist of the Mortgage Bankers Association.

Fiserv senior vice president Dan Welbaum has been hired as chief marketing officer at Mequon, Wis.-based Mortgagebot, MortgageWire has learned.Mr. Welbaum, long the head of sales and marketing for the Fiserv easyLender Products business unit, will be responsible for developing and executing Mortgagebot's marketing strategy, including overseeing industry partnerships and marketing communication efforts. Before joining Fiserv, Mr. Welbaum served in a management capacity at such organizations as Unisys, Bisys, Convergys, and The Kirchman Corp. In 1993, he joined the senior management team of the former Florida Informanagement Services, where as SVP of sales and marketing he helped build the company in preparation for its acquisition by Fiserv in 1997. Mortgagebot can be found on the Web at http://www.mortgagebot.com.

Fidelity National Information Services launched FIS Desktop -- an enterprise workflow, document and expense management offering -- at the Mortgage Bankers Association's National Mortgage Servicing Conference & Expo.FIS Desktop provides mortgage lenders, servicers and investors with technology to manage the post-origination loan cycle from loan acquisition and boarding through loss mitigation and real estate-owned property disposition. "Like many industries, mortgage servicing operations struggle to integrate multiple, function-specific technology solutions across the enterprise," said Greg Whitworth, president of the FIS recently formed Loan Portfolio Solutions division. "A lack of integration among workflow, imaging and expense management applications typically created silos in an organization, making it virtually impossible to respond to market trends," he said. Mortgage Corp., one of the first mortgage servicers to use the integrated components of FIS Desktop, indicated it is experiencing increased efficiency and significantly reduced operating costs as a result of the platform's document and electronic invoice management capabilities.

RealtyTrac, the Irvine, Calif.-based online marketplace for foreclosure properties, is partnering with Williams & Williams, an auctioneer of U.S. real estate including foreclosed properties, to host a national database of bank-owned property auctions.The move gives buyers and real estate investors hundreds of opportunities to purchase bargain real estate using the process of auction vs. traditional property sales. The properties, all being auctioned by Williams & Williams, will be located under the Auction tab of RealtyTrac and updated daily. Along with an opening bid, sale date, time and location, the details for each property include a phone number and e-mail address for Williams & Williams so that members can contact the auction company with any further questions about the property. Members can also link to the Williams & Williams website for the full terms and conditions of each auction.

A U.S. subsidiary of the Amsterdam-based Wolters Kluwer has purchased Desert Document Services Inc., an origination technology provider based in Tempe, Ariz.Wolters Kluwer Financial Services, Minneapolis, has hired DDS chief executive officer Ruth Thompson and DDS chief operating officer Joe LaBonty as senior principal and director of operations, respectively, for its line of business serving wholesale and correspondent mortgage originator clients. Wolters Kluwer said it also plans to use DDS's Tempe office for that business line's home base and make it a complement to its Troy, Mich.-based VMP product line serving the retail mortgage industry. In addition, DDS's back-end document technology applications will complement Wolters Kluwer's VMP X4 front-end document preparation platform from its previous acquisition of Entyre, according to Wolters Kluwer. Wolters Kluwer can be found on the Web at http://www.wolterskluwer.com.

DepotPoint, Bellevue, Wash., has launched a tool to reduce foreclosure risk, offering lenders a way to closely monitor and get automatic notification of default events.The company's latest addition to its Web-based systems, the TrackPoint Lien Monitoring Alert Service, allows lenders to automatically monitor all lien foreclosures, tax defaults, and bankruptcy filings -- all events that can compromise the timely payment of a loan and increase the chance that a lender's portfolio may suffer considerable financial loss. The company can be found on the Web at http://www.depotpoint.com.