Technology

First American Default Technologies has launched an updated version of its VendorScapeCMS default management technology.Version 3.0 of the case management software includes an enhanced screen layout that allows users to access more data at one time, a redesigned navigation system that helps users locate relevant data faster, and more work queues to locate and address the most urgent tasks, the company said. The original version of VendorScapeCMS was launched in 2003. First American Default Technologies, Anaheim, Calif., is a unit of the First American Corp., which can be found on the Web at http://www.firstam.com.

Scott Kinnaird has been named chief executive officer of a la mode inc., an Oklahoma City-based developer of software and online services for the real estate and mortgage industries.Celebrating its 20th anniversary this month, a la mode said the company's growth spurred the move, along with the naming of Sean Shiplet to the newly created post of chief operating officer and the opening or expansion of several offices. Mr. Kinnaird was most recently a la mode's chief strategy officer. Company founder and former CEO David Biggers will retain the role of chairman and will focus on new product, market, and strategic project development, a la mode said. Mr. Shiplet was previously the company's executive vice president of sales and customer support. In addition, a la mode announced that a regional sales and training center was recently opened in Orlando, Fla., and that its Salt Lake City development office and its legal affairs office in Washington, D.C., have been expanded. The company can be found online at http://www.alamode.com.

LION Inc., Seattle, has announced key management changes in two of its mortgage-related businesses.Kristi Angell has been hired to run Mortgage 101, LION's lead generation business, and Sern Clementson has been promoted to president of Tuttle Risk Management Services, a LION subsidiary that provides mortgage pipeline risk management services. Mr. Clementson will also head up LION's capital markets business segment. The company can be found on the Web at http://www.lioninc.com.

ComplianceEase, San Francisco, has launched 4506Xpress, an electronic income verification system designed to help lenders detect income exaggeration by borrowers and comply with requirements for investors in the secondary mortgage market.The product streamlines quality-control procedures associated with reducing application fraud, the company said. "The prevalence of income exaggeration in the marketplace requires mortgage originators to quickly and accurately verify the borrower's income through government records," said David Girling, executive vice president of ComplianceEase, a division of LogicEase Solutions Inc. "By delivering electronic transactions and Web-based file management to the income verification process, 4506Xpress helps lenders accelerate loan closing and reduce overall costs and risk." The company can be found online at http://www.complianceease.com.

Fidelity National Information Services' LSI has announced the national launch of Closing Stream, a Web-based closing system for mortgage refinance and home equity lending transactions.LSI said a recently concluded pilot project confirmed that the patent-pending system reduces loan cycle time, enhances borrower experience, and ultimately increases lender revenue. With Closing Stream, LSI "controls the entire closing process," eliminating the need to coordinate third-party providers, the company said. Borrowers can schedule their closing early in the application process and, since the method is chiefly Web-based, they can participate in the transaction from any geographic location, according to LSI. Before the scheduled closing, LSI sends copies of the closing documents to the borrower via overnight delivery, and the borrower is responsible for returning one signed and notarized document. The returned document is combined with the original documents, and at the closing the borrower logs into the Closing Stream system and dials a toll-free number to connect with an LSI closing representative, LSI said.

Del Mar Database, San Diego, and Integrated Loan Services have teamed up to offer a co-branding strategy to allow small to medium-size lenders that use Del Mar's DataTrac to have access to ILS's QuickClose.QuickClose is an alternative to traditional title insurance that can reduce the time required to close a loan by up to 14 days, according to ILS. DataTrac is a back-end origination tool that, when combined with a POS, can offer a best-of-breed origination platform, Del Mar says. Both companies are owned by Fiserv. Del Mar can be found on the Web at http://www.delmardb.com.

Ellie Mae, Dublin, Calif., has announced the release of ePASS Express, a utility designed to keep Calyx Point users connected to its participating lenders despite the threat of LoanBridge.San Jose, Calif-based Calyx Software released LoanBridge to control the interfaces its Point users have with lenders to ensure that they work with the company's new DataServer product and that outside companies aren't writing unauthorized interfaces. ePASS Express is an application the size of an instant messenger that runs alongside Point to make it possible for users to connect to participating ePASS lenders without having to exit Point, according to Ellie Mae. The application is free, can be downloaded and operational in seconds, and gives the user access to ePASS lenders. It also allows the user to create custom links to lenders or third-party services that don't participate with ePASS, and includes market data, news, and frequently asked questions, Ellie Mae said. Further product information can be found on the Web at http://www.epassexpress.com.

MortgageFlex Systems Inc., Jacksonville, Fla., has upgraded its WebConsumer component to its current version of the LoanQuest Residential Lending System, to allow users to get real-time loan status.The upgraded Web component, based on .NET Web technology, enables consumers to shop lenders’ programs, rates and fees and move that information directly into what the company calls a “mini-application” fed to the RLS system. Consumers also can input personal information at their chosen speed. Key features of the WebConsumer component for lenders include: seamless integration with RLS, loan information from the consumer website to RLS, setup information from RLS to the consumer website, turnkey application run at lender or vendor location, ability to customize look and feel (color, logos, etc.), online documentation adjustable to meet individual requirements, extends existing website functionality, and quick implementation, the company said. MortgageFlex can be found on the Web at http://www.mortgageflex.com.

St. Cloud, Minn.-based Bankers Systems has formed an alliance with MeridianLink, Costa Mesa, Calif., to offer credit unions electronic documents.Under the terms of the agreement, MeridianLink will offer credit union clients that utilize its loan origination system, LoansPQ, Bankers Systems' electronic documents. MeridianLink has integrated Bankers Systems' documents into LoansPQ for common client deployment. Bankers Systems can be found on the Web at http://www.bankerssystems.com and MeridianLink can be found at http://www.meridianlink.com.

The Appraisal Institute and the Mortgage Industry Standards Maintenance Organization have announced the formation of an alliance aimed at developing common data standards that bridge the valuation and mortgage lending industries.The standards will result in "the accelerated adoption of electronic commerce by all participants in the real estate and capital markets," the organizations predicted. In conjunction with the alliance, an open standard has been created for describing and commonly identifying a residential property at each step of the loan process. "MISMO recognizes that the systemic changes under way in the capital markets only increase the need for efficient data interchange," said Doug Duncan, president of the nonprofit MISMO and chief economist of its parent organization, the Mortgage Bankers Association. "This alliance with the Appraisal Institute spans both the commercial and residential industries and will provide both sectors with the framework for the electronic delivery of appraisal-related information." MISMO is the standards development body for the real estate finance industry. The organizations can be found online at http://www.appraisalinstitute.org and http://www.mismo.org.