Technology

A good six months earlier than many mortgage technology pundits predicted, Fidelity National Information Services Inc. has launched the .NET version of its Empower loan origination system.The move follows beta testing with National City Mortgage prior to implementation in that lender's correspondent division. Fidelity said the system, which includes smart-client and Web-client presentation layers, is fully functional and immediately operable. National City partnered with Fidelity on the project with the strategic objective of enabling straight-through processing of loans that require little human touch. Empower for .NET also leverages the Windows Workflow Foundation to automate workflow. According to the announcement, FIS is offering a "First Adopters" purchase and implementation program targeting top retail and wholesale lenders. Fidelity will continue to support and enhance the client-server version of Empower as well.

Ellie Mae, Dublin, Calif., has partnered with CCMC, Altamonte Springs, Fla., a provider of financial services industry platform interfaces, to deliver timesaving and error-reducing interface services to Ellie Mae's Encompass Mortgage Automation System clients.CCMC's Bridge technology eliminates duplicate data entry by providing automated interfaces for Encompass. The end result is a workflow that reduces errors for mortgage companies, banks and credit unions that choose to interface disparate systems. As a result of the partnership agreement, customers will now be provided with an interface with which to move information in and out of Encompass. Ellie Mae can be found on the Web at http://www.EllieMae.com.

Wolters Kluwer Corporate & Financial Services, Minneapolis, has acquired GulfPak Corp., a provider of automated lending and account origination technology to U.S. financial organizations.GulfPak, Jackson, Miss., provides its compliance-based technology to more than 700 financial organizations. Recently, GulfPak implemented a series of product enhancements to its automated systems including mortgage origination, imaging and e-signature functionality. GulfPak will become part of the Financial Services business unit of Wolters Kluwer, whose product brands include Bankers Systems, PCi and VMP Mortgage Solutions. Jay Tindall, president and chief executive officer of GulfPak, will join the Wolters Kluwer Financial Services management team and will continue to provide leadership for the Jackson operation where GulfPak has approximately 37 employees. Terms of the purchase agreement were not released. The acquisition is subject to GulfPak shareholder approval. Wolters Kluwer Financial Services can be found on the Web at http://www.wolterskluwerfs.com.

LynxBanc Mortgage Corp., Boca Raton, Fla., has added to its offerings the ability to arrange multicurrency mortgage facilities for international buyers purchasing homes in South Florida by working with the United Kingdom-based Lloyds TSB Bank."Florida has the highest share of real estate buyers from overseas of any state, 15[%] on average," said Stephen Parnell, chief executive officer of LynxBanc. "This new mortgage facility offers the overseas buyer the opportunity to switch between eligible international currencies easily and inexpensively up to four times a year." LynxBanc can be found on the Web at http://www.lynxbanc.com

New York State has the highest mortgage closing costs in the nation, followed by Texas and Hawaii, according to Bankrate Inc.'s 2006 National Closing Cost Survey.The survey found average closing costs of $3,887 in New York, $3,578 in Texas, and $3,407 in Hawaii, compared with $2,713 in Missouri, which had the lowest closing fees among the 50 states and the District of Columbia. In conjunction with the survey, Bankrate commissioned a national poll by Roper asking 1,005 homeowners about their closing costs. Of those surveyed, 13% said they paid more than their lender's estimate, 8% said they paid less, and 60% said their closing costs were about the same as the estimate. "No matter where you live, it pays to shop around," said Daniel P. Ray, editor in chief of Bankrate.com. "Our closing cost estimates, teamed with our mortgage rate table data, provide consumers the knowledge and confidence needed during the home purchasing process." Bankrate's Closing Cost Survey was conducted by obtaining eight to 10 good-faith estimates in each state from the websites of online lenders. To view the survey, go to http://www.bankrate.com/closing.

Bankrate Inc., New York, has announced an agreement to acquire three websites from East West Mortgage Inc. for $4.4 million in cash.The websites are Mortgage-calc.com, Mortgagecalc.com, and Mortgagemath.com. "We intend to leverage the consumer traffic generated by these websites into the Bankrate.com offering within the next week," said Thomas R. Evans, president and chief executive officer of Bankrate Inc. Bankrate can be found on the Web at http://www.bankrate.com.

Seattle-based HomeTeam, which created a syndicated television program of the same name to place first-time homeowners into homes, has now developed a platform that directly links the show with an education program and an online consumer portal.HomeTeam said it is collaborating with First American Corp., Fiserv, InCharge Institute of America Inc., and NeighborhoodScout.com, among others, to ensure that the necessary products and services are available to consumers through its portal. The goal is to help industry professionals drive branding, lead generation, and awareness into the marketplace at the regional and national levels, the company said. HomeTeam has also created HomeTeam University, which offers homeownership mentoring, home-buying fairs, education, and counseling. The portal offers point-to-point networking capabilities, neighborhood searches, real estate agent and loan officer searches, and access to extensive mortgage information. The company can be found on the Web at http://www.hometeam.com.

Lead generation was the marquee topic at the Internet Mortgage Marketing Summit July 26, held by Real Estate Connect at San Francisco's Palace Hotel.Back-to-back mortgage sessions took up search engine and portal marketing, pay-per-call, lead validation, going beyond online loan applications, how to work Internet leads, and best practices for Internet lead providers. As mortgage originators deal with a declining market, lead generation becomes more critical, and several mortgage company executives and loan officers took the opportunity to publicly upbraid their vendors for sending them poor leads. Several panelists reminded mortgage professionals that Internet borrowers value speedy service and that the shelf life of Internet leads can be minutes rather than hours, much less days.

Veros, Santa Ana, Calif., has released the results of its quarterly forecasting of the nation's real estate markets, predicting the 10 hottest and coldest markets for the next 12 months.According to Veros, the 10 markets in its coverage area that will see the greatest home price appreciation over the next 12 months are: Seattle, with an 11% rate; San Bernardino County, Calif., 9%; Jacksonville, Fla., 9%; Raleigh/Durham, N.C., 8%; Tampa, Fla., 8%; Tucson, Ariz., 7%; Riverside County, Calif., 7%; Oakland, Calif., 7%; Los Angeles, 7%; and Nashville, Tenn., 7%. Among the markets expected to show the least home price appreciation over the next 12 months are: Sacramento, Calif., minus-2%; Memphis, minus-1%; Boston, 0%; Cleveland, 0%; and Detroit, 0%. Veros also released performance statistics for its forecasts for each of the previous three years, indicating that its automated home valuation analytics are highly accurate. Veros, a risk management and collateral valuation services vendor, can be found on the Web at http://www.verovalue.com.

E-Loan, an online consumer-direct lender based in Pleasanton, Calif., has introduced BuilderFocus, a program that it says provides homebuilders a streamlined and flexible loan process from application to funding.The program allows homebuilders to work with dedicated account managers and provides noncommissioned loan consultants, guaranteed on-time closings, and verified pre-approvals, E-Loan said. In addition, BuilderFocus offers competitive rates and extended lock programs with a one-time, 30-day "float down," as well as a promise of no lender fees and no hidden costs, the company said. More information on the program can be found online at http://www.eloan.com/builderfocus.