Technology

Del Mar Database, San Diego, has announced the release of InTrac, a front-end point-of-sale application for small and medium-size mortgage lenders.The application is an optional add-on to a lender's DataTrac software, Del Mar's flagship back-office automation system, the company said. Del Mar said it will continue supporting POS integrations with other software vendors. "The third-party POS systems work very well for many lenders because they are simple and easy to use, and most originators are already familiar with them," said John Walsh, president of Del Mar Database. "However, the very simplicity of the solutions also requires lenders to impose business rules for managing their business outside of their technology. .... InTrac provides a powerful POS option to lenders needing a more sophisticated solution." The company can be found online at http://www.delmardb.com.

Accredited Home Lenders Holding Co., San Diego, has adopted the "next-generation" risk management framework from Zementis to beef up the service and quality of its nonprime automated underwriting system.According to Accredited, the system will reduce manual intervention in the underwriting process and improve feedback to brokers by assessing the risk of a loan application in real-time. Zementis Inc., also based in San Diego, offers its Adaptive Decision Engine as a statistical and analytical system that uses predictive modeling powered by advanced neural network technology. Founded in 1990, Accredited is a nationwide lender that originates, finances, securitizes, services, and sells nonprime mortgage loans. The companies can be found online at http://www.accredhome.com and http://www.zementis.com.

LendingLogix, a new mortgage consulting firm, has been launched in Dallas by Dave Williamson and Scott Baller as a sister firm to AppLogix, a custom software development company.LendingLogix offers to provide strategic and tactical services to mortgage banking companies, addressing areas such as business process management, technology evaluation and implementation, planning for electronic mortgages, and business scorecards. LendingLogix said it will begin offering lenders an introductory process assessment package in February. Mr. Williamson, a frequent mortgage industry speaker formerly with Fiserv and The Performance Group, was a featured panelist at SourceMedia's recent Mortgage EC Conference in Las Vegas.

Tim Doyle and Kathy Gibbons have been named senior directors in government affairs at the Mortgage Bankers Association of America, and Katie Schwarting has been named senior director in commercial real estate finance.Mr. Doyle, previously a director in government affairs, was the staff representative to the MBA's Residential Loan Production Committee. He has also been the association's chief liaison with the Federal Housing Administration, the Department of Veterans Affairs, and the Rural Housing Service. Ms. Gibbons, previously a director in government affairs, has been involved in issues relating to the secondary market, the nonagency mortgage-backed securities market, and the Federal Home Loan Banks. Ms. Schwarting, previously a director in CRE finance, has been involved in the Asset Administration and Loan Origination committees of the Commercial Real Estate/Multifamily Finance Board of Governors, among other activities. The MBA can be found online at http://www.mortgagebankers.org.

Costa Mesa, Calif.-based ibank has created a commercial lending search engine that allows small businesses to find lenders and brokers based on four search criteria.The criteria act as a filter, which allows lenders to target their marketing dollars only to those small businesses seeking their products, iBank said. The new engine allows small businesses to search up to 85 different types of small-business loan, equipment leasing, and commercial and home mortgage loan. Lenders can reach these small businesses in three ways: the Organic Lender List, which is composed of information taken online from lender websites by the iBank website's Web crawler; the Classified Campaign Lender, composed of lenders who pay for placement in the classified section of the search engine; and the Premier Campaign Lender, which consists of lenders who have taken a more active approach by registering with iBank's website and creating targeted campaigns that deliver hot prospects directly to their computers each day. The company can be found online at http://www.ibank.com.

FutureNet Realty Technologies, Wexford, Pa., and Allpointe Mortgage, Pittsburgh, have announced a joint venture, FutureNet Mortgage, to provide a no-mortgage-fee, no-cost loan product over the MyFutureNet.com online real estate sales platform.FutureNet said its patent-pending "list-to-close" technology will handle the entire transaction from listing through closing. The system is being tested internally, and it is scheduled for live beta-testing early next year. FutureNet Mortgage searches for the best rates among dozens of top lenders, and a dedicated mortgage adviser brings them to the applicants. "At the core of this process is the TrueClose Web-based loan origination platform, which streamlines the process with online document management allowing [FutureNet Mortgage] to expedite the mortgage process and share these gained efficiencies with the consumer," FutureNet said. The companies can be found online at http://www.myfuturenet.com and http://www.allpointe.com.

Oklahoma City-based a la mode inc. has released FleXApp 1003, an online mortgage loan application system for mortgage brokers and loan officers, as a standalone product.FleXApp 1003 lets brokers provide customer service, a secure environment, and around-the-clock application availability and status updates to borrowers. FleXApp 1003 is housed on a la mode's servers, and the administration interface is accessible from any computer. The company can be found on the Web at http://www.alamode.com.

Del Mar Database, San Diego, has released BusinessTrac, a business management dashboard for small and medium-size mortgage lenders.BusinessTrac integrates with DataTrac, Del Mar Database’s flagship back-office automation system. BusinessTrac allows lenders to track workflow performance around the clock across their entire enterprise, with the ability to drill down through production channels. The product allows users to track their business performance by providing summary and detailed views of real-time information, including loan production, pull-through by product and source, and analysis of product and originator profitability. Del Mar can be found on the Web at http://www.delmardb.com.

PCLender.com has announced that it is integrating the VirtualLoanFolder system of Hasbrouck Heights, N.J.-based PaperClip to offer its customers online document management and electronic delivery capabilities.By the end of the year, PCLender's customers will be able to access all the tools they need to manage their electronic loan documents within PCLender's Web-based loan origination system, the company said. PaperClip's VirtualLoanFolder ASP-based imaging and document management system will be integrated into PCLender, offering users the tools to operate without paper through the PCLender interface. Customers will be able to drag and drop electronic documents into electronic loan folders, input them into the system via scanning, receive them as an electronic fax, or save them into their hosted virtual loan folder. PaperClip can be found on the Web at http://www.paperclip.com.

The adoption of electronic mortgages is being limited by the small number of investors who will buy e-mortgages in the secondary market, but all that may change next year, according to speakers at the Mortgage EC Conference in Las Vegas.Tim Anderson, executive vice president of Dexma, said people will realize the intrinsic benefits of transacting electronically. He predicted that investors might even start offering incentives. "In 2006, I predict an investor will actually offer 1/8th of a point if the mortgage is electronic," Mr. Anderson concluded. Minneapolis-based Dexma can be found on the Web at http://www.dexma.com.