Technology

Secure Identity Services Accreditation Corp., a nonprofit subsidiary of the Mortgage Bankers Association, has announced the accreditation of VeriSign Inc. as a credential service provider for the mortgage industry.VeriSign becomes the first credential provider to receive a SISAC accreditation. "Security is more important than ever in this day of online transactions, e-mortgages, and consumer data protection," said Regina M. Lowrie, the MBA's vice chairwoman and the chair of SISAC. "VeriSign is a world leader in certificate management, and we are happy to have them on board." Mariano Buitrago, principal technologist at Fannie Mae eBusiness, lauded the development as "the culmination of four years of collaborative work that will make it easier for industry partners to conduct electronic transactions with the high security levels expected in today's marketplace." SISAC develops and promotes minimum ID management standards (such as insurance and liability limits) by accrediting credential service providers that meet mortgage industry requirements. The MBA can be found online at http://www.mortgagebankers.org.

Rumors that LendingTree has acquired Domania have proven to be premature, MortgageWire has learned.Contrary to recent reports that LendingTree has acquired both RealEstate.com and Domania from Primedia, sources say the Domania deal has yet to close. If LendingTree -- which has operated solely in the business-to-consumer channel to date, funneling Internet leads to lenders -- does acquire Domania, it would represent an advance into the business-to-business space helping lenders retain borrowers as well as acquire new ones, a major shift in LendingTree's business model. Just as the recent acquisition of GetSmart.com solidified LendingTree's position as a lead generator for lenders, the RealEstate.com acquisition solidifies LendingTree's more recent entry into the real estate space. LendingTree can be found on the Web at http://www.lendingtree.com.

New York-based XBRL International has announced that version 2.1 of its XBRL (Extensible Business Reporting Language) technical specification will enhance the ability of financial service firms to use the Internet for business reporting by fostering greater interoperability between XML software applications.XBRL International said the first exchange to implement the system was the listing department of the Tokyo Stock Exchange. In August 2003, an XBRL software vendor survey showed that two-thirds of accounting software vendors surveyed have either already XBRL-enabled at least one of their accounting software packages or will do so by December 2004. The company can be found online at http://www.xbrl.org.

Oklahoma City-based a la mode has announced that it is the only appraisal software vendor to offer every AI Ready-compliant form appraisers can use to do business with the AI Residential Database and AppraisalPort.The company's WinTotal software, used by more than half of U.S. appraisers, shares the Appraisal Institute's 2.5 (highest) compliance-level rating, but a la mode said it is the only firm that offers the complete list of forms, above and beyond the level required for the 2.5 rating. The interface used by AI Ready provides appraisal document software companies a common application programming interface for translation of their data into the standard format. The company's Mercury Network servers delivered more than 15 million electronic appraisals in the past 12 months, a volume the company says gives it undisputed leadership in paperless real estate transactions. Vendor compliance and form availability information is available through the AI Ready website at http://www.aiready.com/vendormatrix.asp.

WWW.MortgageExpressLoan.com, Miami, has announced the launch of free online mortgage loan applications that it will send in "real time" to three lenders who specialize in what is deemed the most appropriate loan program for the loan applicant.The application takes about 30 seconds to fill out, and will receive "top priority attention, because there are over 600 lenders in our system," the company said. The "real time" guarantee means the application will be e-mailed or faxed to the appropriate lenders as soon as it is received, WWW.MortgageExpressLoan.com said. It can be found on the Web at http://www.mortgageexpressloan.com.

LandAmerica Financial Group Inc. has given three of its executives new titles, two of which affect positions at the company's online title and closing services unit for mortgage lenders.Cheryl Cox -- previously vice president, national closing operations -- has been promoted to president of the aforementioned title and closing unit, LandAmerica OneStop; Melissa Hill, previously president of LandAmerica OneStop, has been promoted to the newly created position of executive vice president, production and process improvement; and Bruce Wood -- who was previously vice president, planning and analysis -- has been named senior vice president, financial planning. LandAmerica can be found on the Web at http://www.landam.com.

LendingTree, Inc. has purchased certain assets of RealEstate.com from Primedia Inc.The online lender paid an undisclosed price for the real estate website's brand, uniform resource locator and other assets it felt complemented its business model. LendingTree can be found on the Web at http://www.lendingtree.com.

DST Technologies Inc., Kansas City, Mo., has announced that it will integrate its business process management system with Fannie Mae's Desktop Underwriter automated underwriting engine to enable lenders to move toward straight-through processing of mortgage loans.The system will allow mortgage lenders using DU to automate the processing of mortgage loans based on DU findings and other lender-provided specifications. The company said the Automated Work Distributor BPM technology supports all aspects of the lending process, provides a secure and accurate audit trail, eliminates the need to transfer or access paper files, and allows individuals in different states and time zones to participate in a single integrated workflow. The DST system can be found online at http://www.dstawd.com.

Secure Identity Services Accreditation Corp., a nonprofit subsidiary of the Mortgage Bankers Association, has announced the accreditation of KPMG LLP as auditor for identity management compliance of mortgage industry standards.KPMG becomes the first auditor to receive a SISAC accreditation. SISAC said it develops and promotes minimum ID management standards, such as insurance and liability limits, by accrediting credential service providers that meet mortgage industry requirements. "With these accreditations we are now one step closer to the establishment of single sign-on for users, electronically automated processes, and embedded security that provides real assurance of privacy, integrity, and nonrepudiation of electronic records and transactions," said Jim Anderson, Freddie Mac's director of information systems and co-chair of the MBA's Security Workgroup. SISAC board member Bill R. Frazer, chief financial officer of L.J. Melody & Co., said the accreditation of KPMG "tells the mortgage industry -- both residential and commercial -- that digital transactions are moving into the mainstream."

Charlotte, NC-based Financial ServiceSolutions LLC, a joint venture founded this year by Bank of America and Fidelity National Financial, has announced an agreement under which Accenture will be the primary sales and marketing channel and the preferred integrator for FSS.The agreement calls for Accenture to acquire an unstipulated "small" equity interest in FSS, which offers mortgage origination and fulfillment outsourcing services and technology to large and mid-tier lenders. Financial ServiceSolutions will become Accenture's exclusive offering for business process outsourcing in the United States. Accenture will also provide FSS with consulting, technology, and outsourcing services. The FSS ProcessPro systems help lenders manage the mortgage application process from application and underwriting to closing and funding, including processing and third-party vendor management.