Technology

Wells Fargo online is now offering home equity credit decision-making in real time.Unlike some online or telephone services that take days to process a response, this new service will enable consumers to receive an answer within seconds of submitting a loan application, according to the San Francisco-based Wells Fargo. "People usually have big plans for their loan, such as education, home improvement, or debt consolidation," said Colin Walsh, vice president of U.S. Equity at Wells Fargo. "We want to help our customers reach their goals as quickly as possible."

A just-released collection module for Interlinq's MortgageWare Loan Servicing version 2.0 has been shown at the 12th annual MortgageWare Users' Group conference in Bellevue, Wash. The module enables lenders to track delinquent borrowers and bring servicing in-house at a per-loan annual cost of less than $4.The Kirkland, Wash.-based Interlinq has also developed an interface to Fannie Mae's MortgageLinks that will allow users to connect to their choice of credit bureaus, order credit reports, and autopopulate the liabilities into an application. Another Interlinq product, MortgageWare InvestorLinq, works with MortgageWare MarketLinq to help manage secondary marketing risk.