Technology

Agoura Hills, Calif.-based Interthinx, a provider of fraud prevention, compliance, and decision support tools, has launched an online testing mechanism in conjunction with its fraud detection training film, FSI: Fraud Scheme Investigation.The FSI video is a mortgage fraud detection training tool produced by Interthinx. The film parodies CSI: Crime Scene Investigation, the popular prime-time television series, to demonstrate the characteristics and "red flags" of a complicated property-flipping scheme, the company said. FSI was inspired by actual events and is free to the mortgage industry. The free online FSI Exam Program will provide a means to measure learning achieved by watching the FSI film. The announcement of the online testing mechanism was made at the Mortgage Bankers Association's 93rd Annual Convention. The company can be found on the Web at http://www.interthinx.com.

Desert Document Services Inc., a Phoenix-based software company serving lenders with loan product management solutions, has formed a strategic partnership with NYLX Inc., a provider of point-of-sale product eligibility and loan pricing technology systems.NYLX will integrate DesertDocs' compliant state-specific initial disclosure packages into its online loan pricing engine, making such disclosures -- required by the Real Estate Settlement Procedures Act -- available to originators with one click. "Given shrinking profit margins, loan originators need an efficient one-step process for ordering RESPA-required initial disclosure packages," said Ruth Thompson, president of DesertDocs. "Originators can use disclosures to lock in borrower commitment to a very tangible offer, increasing the likelihood of closing the sale and reducing the possibility of further rate shopping." The partnership was announced at the Mortgage Bankers Association's 93rd Annual Convention & Expo in Chicago. The companies can be found on the Web at http://www.desertdocs.com and http://www.nylx.com.

Cincinnati-based eLynx Ltd., a provider of secure Web services for lenders and insurance companies, and Goodmail Systems Inc., have partnered to include Goodmail's CertifiedEmail system for assured e-mail delivery in the eLynx electronic services platform.A portfolio company of American Capital Strategies Ltd., eLynx said the e-mail features include electronic document delivery, electronic signature, and integrated paper fulfillment. The company said its e-services platform uses e-mail to deliver links to websites where consumers can obtain mortgage and insurance documents in a secure, paperless manner. Goodmail provides accredited volume e-mail senders with the CertifiedEmail technology, imprinting outgoing e-mail with cryptographically secure tokens that are recognized by participating mailbox providers such as AOL and Yahoo! The partnership was announced at the Mortgage Bankers Association's 93rd Annual Convention & Expo in Chicago. The companies can be found on the Web at http://www.elynx.com and http://www.goodmailsystems.com.

The Turning Point, Sedona, Ariz., has launched MACH 3, an end-to-end marketing system for bankers, brokers, and loan originators at the MBA's 93rd Annual Convention & Expo.The tool offers a secure online platform that allows the user to turn business data into action, the company said. The loan officers and marketing executives are able to implement targeted campaigns in real time, from concept development to fulfillment with the application, the company said. Branch managers and corporate-level executives track results and oversee operations using a digital dashboard. The company can be found online at http://www.turningpoint.com.

CoreLogic, a Sacramento, Calif.-based provider of mortgage risk assessment and fraud prevention systems, has released findings from its broker management database indicating that 7% of brokers account for 63% of early payment defaults, with the riskiest 0.5% of brokers accounting for 70% of all losses.CoreLogic said its broker database tracks more than 38 million loans and 190,000 brokers and is the engine powering ThirdParty Scorecard, a Web-based software tool that helps residential mortgage lenders evaluate and manage the risk associated with their broker network. The most recent statistics illustrate the key role brokers play in the risk management chain and why broker monitoring and management tools are critical to the financial prospects of wholesale originators, the company said. Core Logic made the announcement at the Mortgage Bankers Association's 93rd Annual Conference & Expo in Chicago. The company can be found on the Web at http://www.corelogic.com.

The Mortgage Industry Standards Maintenance Organization has announced the formation of an alliance with Ginnie Mae that will establish one or more Government Housing Workgroups within MISMO.The organization said the aim of the alliance is to develop and publish government standards related to electronic mortgage transactions involving government entities within the MISMO framework. "By having future Ginnie Mae reporting and data formats in alignment with established industry standards, and providing Ginnie Mae with a robust forum in which to develop its formats and interface specifications, this is a 'win-win' for both the industry and Ginnie Mae," MISMO said. MISMO, which was established by the Mortgage Bankers Association, develops electronic commerce standards for the mortgage industry. The organization can be found online at http://www.mismo.org.

Homebridge Mortgage Bankers, New York, has announced that the company is changing its name to Refinance.com and launching a national home refinance website portal.The new website will offer easy-to-use refinancing tools and calculators, and the new name will better reflect Homebridge's corporate vision by focusing exclusively on home refinance, the company said. "With this new name comes improved service," said Nicholas Bratsafolis, chairman and chief executive officer of Refinance.com. The new website will enable interested borrowers "to 'try on' different loan products to determine which one best fits their needs," he said. The company can be found online at http://www.refinance.com.

LoanCity, a wholesale mortgage lender based in San Jose, Calif., has announced that brokers using its AU 2.0 automated pricing and underwriting platform will now automatically be shown all home equity options for which their borrowers are eligible.Now when a broker "locks" a first mortgage on the system, he or she will automatically see all the home equity lines and loans that the borrower might also be eligible for, the company said. "Finding the right combination of a first and second mortgage is critical to meeting customer needs, closing deals, and improving the economics of these transactions for brokers," said Rick Soukoulis, LoanCity's chief executive officer. "Our new 'matching seconds' feature accelerates this process and eliminates the possibility of selecting a product that the client won't qualify for, which can add friction to the origination process." The company can be found online at http://www.loancity.com.

Poway, Calif.-based eAppraiseIT, a provider of real estate valuation products and services, has announced the introduction of a "hybrid" valuation product, AVM-Assisted Appraisal.The product is designed for portfolio, second-lien lenders and servicing operations that are now forced to choose between full appraisals and less comprehensive options, such as automated valuation models, the company said. Unlike static automated valuation products, eAppraiseIT's new AVM-Assisted Appraisal is very interactive. "It puts the latest AVM technology at the fingertips of seasoned appraisers, presenting them with the results of three AVMs, access to scores of additional comparables, and a location map of the subject and selected comparables," eAppraiseIT said. At any point, the local appraiser can override the subject (or comparable) property characteristic information, and other factors, eAppraiseIT said. The company can be found online at http://www.eappraiseit.com.

Mortgage Builder Software Inc., Southfield, Mich., has announced an interface with ComplianceEase that it says will enable its customers to determine whether their loans comply with federal, state, and local regulations.ComplianceEase's flagship product, ComplianceAnalyzer, reviews loans for a variety of multijurisdictional compliance regulations. "Mortgage Builder provides the required data, allowing ComplianceEase to perform the testing procedures ensuring the loan is compliant, and then ComplianceEase returns the results via HTML, where they can be viewed and stored for future reference," said Keven Smith, president of Mortgage Builder. The announcement was made at the Mortgage Bankers Association annual convention in Chicago. The companies can be found online at http://www.mortgagebuilder.com and http://www.complianceease.com.