Technology

Minneapolis-based Dexma has earned MXCompliance certification for credit request and automated underwriting services for its Web-based platforms.The MISMO eXtensible Markup Language Compliance certification validates that these services provided by Dexma to lenders and other mortgage industry players complies with MISMO standards for such transactions. Without data exchange standards, lenders must manually enter loan data into multiple systems, increasing costs, processing time, and the possibility of errors. MXCompliance certification assures lenders that services can be easily accessed and mortgage data can be exchanged quickly, eliminating the need for manual data entry or costly data conversion systems. MISMO, a nonprofit subsidiary of the Mortgage Bankers Association, develops mortgage data exchange and file specification standards for lenders and mortgage technology providers. Dexma can be found on the Web at http://www.dexma.com.

If you measure agent performance in a call center by the average time it takes to handle an inbound call, you are making a big mistake, Wells Fargo's Gary Class told attendees June 5 at the SourceMedia Business Intelligence Forum in San Francisco.Instead, the measure should be the elapsed time it takes to solve the customer's problem, he said during a session on call-center metrics. Handling inbound calls successfully can be a huge factor in determining whether you will be successful in cross-selling products such as home equity lines of credit, according to Mr. Class. Business intelligence technology such as pattern-recognition software earns its keep because the more you can predict behavior, the better you serve customers -- and thereby "earn the right to cross-sell," Mr. Class said.

Dublin, Calif.-based Ellie Mae has launched a new edition of its mortgage automation system, Encompass Professional Edition, geared toward giving mortgage brokers more marketing functionality.Encompass Professional Edition is a multi-user program that adds marketing and productivity tools beyond those included in Encompass Standard Edition. Unlike other Encompass loan origination products, the new product features a marketing campaign manager, contact synchronization with Outlook and ACT!, and a software development toolkit enabling users to develop custom applications around Encompass, Ellie Mae said. All the added features of Encompass Professional will also be rolled into Encompass Anywhere, Ellie Mae's Web-based application. The company can be found on the Web at http://www.elliemae.com.

SwiftView Inc., Portland, Ore., and Netupdate Inc., Bellevue, Wash., have partnered to enable borrowers to use SwiftView's SwiftSend InBound service to send documents to lenders electronically.A borrower who uses Netupdate's Originator Pro online point-of-sale system to apply for a loan and check loan status will now be able to securely fax or upload loan documentation directly into an eLoanFolder. "We're making electronic submission of documents to lenders very simple," explained Diane Holmstrom, Netupdate's chief executive. Within each borrower's website, borrowers can upload documents or print fax cover sheets that are bar-coded to route documents automatically into the correct eLoanFolder, she said. "Scanning documents post-closing will soon be a thing of the past for documents that can be created or received electronically," added Steve Bachelder, president of SwiftView. "Using our technology, lenders can then share documents electronically throughout the entire loan process, including underwriting, post-closing, investor delivery, and final long-term archiving." The companies can be found on the Web at http://www.swiftview.com and http://www.netupdate.com.

E*Trade Financial Corp., New York, and NeighborWorks America, Washington, D.C., have announced the launch of the "Keys to My Home" website, which offers bilingual, user-friendly information about preparing for and maintaining homeownership.Resources on the new website include "The Top 10 Questions to Ask Your Lender," a primer on home insurance, mortgage loan affordability and debt calculators, and a mortgage comparison worksheet. "Keystomyhome.org provides customized budget tables that fit the unique needs of each consumer," said Ken Wade, chief executive officer of NeighborWorks America. "This tailored approach is ... the perfect blend of technology and a human touch." The English version of the website launched June 1, and the Spanish version will be available this summer. The website is one of several education initiatives supported by E*Trade Financial and NeighborWorks America, including neighborhood computer-lab homebuyer kiosks in target minority and low- to moderate-income markets. The new site can be found online at http://www.keystomyhome.org.

TotalMove Inc., a national consumer real estate and moving services company based in Shelton, Conn., has launched a new proprietary customer relationship management system.The company said the new system will "better nurture" consumers who have been prequalified for mortgage loans with lenders that are part of the company's Mortgage Partner Program. The program is designed to help mortgage lenders improve their purchase-money mortgage lead conversion, TotalMove said. "Our new CRM system will significantly streamline our processes, giving our coordinators more time to focus on consumer needs," said Tom Soltis, who was recently appointed vice president of operations at the company. TotalMove provides move-planning assistance, real estate agent selection, and access to insurance and other services related to real estate transactions. The company can be found online at http://www.totalmove.com.

Pamela C. Milano has been named chief product design executive for LoanMagic, the mortgage loan presentation and management program of Document Systems Inc., Carson, Calif.Ms. Milano has over 25 years of management experience in mortgage banking technology. She introduced the first point-of-sale application in the industry for Citicorp Mortgage, and served as senior vice president for Countrywide's Consumer Markets Division when Countrywide began rolling out LoanMagic to its retail mortgage loan officers in 2002, Document Systems said. In her new post, Ms. Milano will plan and direct LoanMagic's product design policies and oversee the development of products related to LoanMagic. Document Systems can be found online at http://www.docmagic.com.

Cincinnati-based eLynx Ltd. has helped Ditech.com, Costa Mesa, Calif., achieve a 35% borrower conversion from paper to e-signed disclosures in May, according to eLynx.That success was achieved by training 2,500 Ditech.com loan representatives and 2,200 processors to use a new browser-based eWelcome service that lets mortgage customers securely receive, review, and approve documents via the Internet. An eLynx spokesman said a key to the great success of the launch was that Ditech not only trained all affected staffers before the launch, but provided incentives and prizes to the sales teams achieving the highest tallies of paper-to-electronic conversions with their borrowers. Ditech.com said it expects to use the service to shrink cycle times and bring consumers closer to embracing a fully paperless loan transaction. The companies can be found on the Web at http://www.elynx.com and http://www.ditech.com.

On Tuesday, May 30, Argent Mortgage Co. LLC will launch Argent University to help its approved brokers "enhance their professional skills and build their businesses."Powered by CampusMBA, the educational arm of the Mortgage Bankers Association, Argent U. will provide 12 months of 24/7 online access to more than 50 online courses for the single price of $350. Argent said its research shows that total price to be about $100 below the advertised cost of one typical Web-based course. In addition to a variety of useful resources, the Argent U. course of study will comprise 60 courses divided into three tracks. Some courses will provide continuing education credit, while others will lead to actual professional designations. An Argent spokesman said the program design was based on feedback gathered in broker focus groups. The company can be found online at http://www.argentmortgage.com.

The use of automated valuation models to assess the value of a home may no longer result in property value penalties, according to a new criteria report by Fitch Ratings. Under the new criteria, AVM review depends on individual lenders' processes and controls for using the models rather than the overall strength of the values in the regions the properties being valued are in, according to Fitch senior director Suzanne Mistretta. Going forward, Fitch "will discount property values by 5% or more if either a lender's usage processes and controls do not adequately mitigate overvaluation risk, or if a lender's processes are not disclosed to Fitch," she said. Previously, Fitch said it "would discount property values derived from an AVM assessment from 10%-15% in regional markets deemed 'weak' or 'soft.'" Fitch can be found on the Web at http://www.fitchratings.com.