Technology

ResMAE Financial Corp., Brea, Calif., has announced the introduction of TotalAccess, a Web-based pipeline management service for mortgage brokers.TotalAccess delivers a range of services, such as allowing brokers to: follow the progress of their loans in real time; contact key ResMAE production personnel; and request to draw documents when all conditions are met. ResMAE, which stands for Residential Mortgage Assistance Enterprise, can be found online at http://www.resmae.com.

Shawn McGowan has been named president and chief executive officer of Valocity, a Memphis-based provider of valuation systems.Mr. McGowan was most recently head of research, analysis, and implementation of strategic initiatives for eAppraiseIT, Valocity said. He is also a former senior vice president of residential appraisal operations for Strategic Mortgage Services and First American Appraisal Services. Mr. McGowan is a past chairman of the Industry Advisory Council for The Appraisal Foundation. Valocity, formerly Appraisal Forum, can be found on the Web at http://www.valocity.com.

SwiftView Inc., Portland, Ore., has entered into an agreement with Delphi Information Sciences Corp. to offer its SwiftSend LoanDocs Web-based electronic document delivery service to customers of Delphi's Discovery mortgage banking software.Discovery customers will now have the ability to electronically deliver confidential documents in an encrypted environment, SwiftView said. Delphi provides computer systems and services to the mortgage lending industry. SwiftView can be found on the Web at http:// visit http://www.swiftsend.com.

MERS, Vienna, Va., has announced the launch of the MERS eRegistry, an electronic system for recording the owner and custodian of registered e-notes that the company termed a "significant step" toward an all-electronic mortgage.The system was created in response to certain safe-harbor requirements imposed by the Uniform Electronic Transactions Act and the Electronic Signatures in Global and National Commerce Act. "A major component of the e-mortgage puzzle is now available and ready for use, ahead of the market," said R. K. Arnold, president and chief executive officer of MERS. "Although it will take many years for the industry to fully adopt this system, it will become widely used because the marketplace is demanding a move towards less paper in the homebuying process." MERS said the Mortgage Bankers Association sanctioned the creation of a national e-note registry system last summer and endorsed MERS as the builder and provider of the system. MERS can be found on the Internet at http://www.mersinc.org.

Ann Arbor, Mich.-based Entyre Inc has launched it’s Web-based X4 Wholesale Lending System, an ASP-based closing system that gives lenders control of who “touches” their loans, and what those participants are allowed to do.The technology was designed to give Wholesale Lenders more control over the closing process. A company spokesman said that Entyre is in the middle of three major implementations of the X4 Wholesale Lending System, including a top 20 lender, which is expected to be formally announced in early May. Entyre prepares loan closing documents for brokers, bankers and correspondent lenders and investors. The company can be found on the Web at http://www.entyre.com.

Vienna, Va.-based VirPack has announced an agreement with Countrywide to enable correspondents to make imaged delivery of loans to Countrywide possible.The partnership is expected to reduce costs and cycle times, as well as improve the loan purchasing process. Using VirPack Direct, which conforms to Countrywide's image loan delivery specification, Countrywide correspondents will be able to retrieve loans identified for delivery to Countrywide and electronically deliver entire imaged loan files in a secure fashion to expedite purchase review. Virpack Direct, an electronic delivery tool, is offered free to VirPack customers. The tool is integrated with VirPack's scan capture and electronic document management systems and allows users to capture only those loans they wish to deliver to Countrywide, or fully take advantage of VirPack's imaging and document management capabilities to enhance their back-shop processes.

Digital Docs, Dallas, launched an interactive HUD-1 solution with an embedded e-sign feature at the MBA's Secondary Market Conference and Expo in Washington, D.C.The product has the ability to interface with an originator's loan origination system to reflect last-minute changes in a loan. It also interfaces directly with Digital Docs Direct, a Web-based loan document delivery system to transmit HUD-1 changes into the closing doc. In addition, a high-cost loan and predatory calculation is embedded in the product.

Fannie Mae will continue to convert its existing technology to a completely Web-based platform in an effort to upgrade its old DOS-based technology, Mortgage Wire learned at the MBA's Secondary Market Conference and Expo in Washington, D.C.Fannie Mae began the process in 2002 with the release of an electronic committing application. Going forward, Fannie Mae will test delivery technology products and servicing technology products on a Web-based platform. At present, Fannie Mae has repositioned its cash remittance product on the Web. This application is expected be available in the month of June to those clients that want to transition. Rollout dates for the larger milestones within this technology initiative were not disclosed. However, Fannie did say that no major technology announcements are expected this year.

Framework Inc., Tarrytown, N.Y., has upgraded LendWare Workflow, its Web-based software service component that supports the configuration, management, and automation of business tasks, XML-based integrations, and fulfillment processes.Specifically, LendWare Workflow 3.0 is an effort to align Framework's existing workflow technology with the standards defined by the Workflow Management Coalition, a nonprofit international organization of workflow vendors, users, analysts, and university research groups that defines standards for workflow terminology, process definition, and workflow engine interoperability. WMC engine interoperability standards enable the sharing of both configuration and run-time information between different workflow engines. Framework can be found on the Web at http://www.lendware.com.

Concord, Calif.-based Online Documents Inc., a subsidiary of Stewart Mortgage Information, and Lenders One, a mortgage banking cooperative headquartered in St. Louis, have formed a marketing alliance to provide mortgage document services for Lenders One co-op members.Through the marketing alliance with Lenders One, Online Documents has agreed to provide mortgage document services to every Lenders One member at a single price. Lenders One is an alliance of mortgage originators organized as a cooperative. Online Documents, which provides compliant mortgage documents and related services to lenders, can be found on the Web at http://www.onlinedocuments.com.