Technology

Two wholly owned subsidiaries of Stewart Title Co. -- Landata Systems Inc., a technology provider, and Stewart Realty Solutions, formed two years ago to take online transaction management to the real estate and mortgage industries -- will be merged to form Stewart Transaction Solutions, Houston.Stewart Title said key technologies to be handled by the new company include the SureClose online transaction management system; the eClosingRoom electronic closing platform (developed by Stewart Title and Silanis Technology); the AIM for Windows title production system; and the TitleSearch title plant, document imaging, and search analysis systems. Mike Davis, president of Landata Systems, will serve as chief executive officer of Stewart Transaction Solutions, and Travis Wright, CEO of Stewart Realty Solutions, will serve as the new company's president and director of business development. Mr. Davis will remain as chief information officer of Stewart Title's parent company, Stewart Information Services Corp. The new company can be found online at http://www.stewarttransactionsolutions.com.

Mortgage companies shed 200 employees in November, according to the latest national employment report, ending a 20-month hiring spree that added over 53,000 full-time employees to their payrolls.The U.S. Bureau of Labor Statistics reported that employment in the mortgage industry slipped from 533,900 in October to 533,700 in November. The last hiccup in hiring occurred in August 2004 when employment slipped by 100 positions in September 2004. The Mortgager Bankers Association says it expects to see more declines this year in mortgage industry employment as origination volumes decline from 2005 levels. However, the contraction in employment could be offset because purchase mortgage originations, which are labor-intensive, are expected to remain at high levels, MBA financial economist Jay Brinkmann pointed out. And loan officers can still do fairly well with lower volumes because the average loan size has risen substantially over the past few years. "So we might not see some of the same shrinkage" in loan officers and mortgage brokers as in the past, Mr. Brinkmann said.

MacDonald, Dettwiler and Associates Ltd, Richmond, Va., has acquired privately held MindBox LLC, a provider of decisioning mortgage applications, for an undisclosed sum.The acquisition dictates that MindBox become part of MDA's Financial Services business in the United States and continue its operations as a separate business unit under the leadership of Richard Barfus, MindBox's president and chief executive officer. MDA said it will bring, concurrent with the transaction, all of its U.S. financial services business -- Marshall & Swift/Boeckh (MSB), DataQuick, and MindBox -- under a unified leadership team.

Data-Vision Inc., Mishawaka, Ind., says it plans to expand its products and staff in 2006 to meet increased mortgage industry demand.The mortgage technology provider said it is planning many enhancements to its RemoteDocs system, including the continued streamlining of the sending and receiving process. Further enhancements are also in the works for the LoanQuoter system, Data-Vision said. John Dempsey, Data-Vision's vice president of sales, said the company will also continue various innovations adopted in 2005, such as so-called webinars and user groups to test company software and services. The company can be found on the Web at http://www.d-vision.com.

Mortgage Lenders Network USA Inc., Middletown, Conn., has launched a new website for consumers seeking to apply for a mortgage loan and obtain financial tips and advice.At the new website, consumers can view various educational resources, such as the Department of Housing and Urban Development's mortgage glossary, mortgage insurance information, and MLN's "Guide to Homeownership." The site also includes detailed background information about MLN and the company's professional mortgage consultants. Visitors can also apply for a loan online or schedule an appointment with one of MLN's consultants. The new website can be found at http://www.mlnapproves.com.

Ellie Mae Inc., a provider of mortgage technology based in Dublin, Calif., has embarked on a strategic partnership with Tallahassee, Fla.-based Multi Financial Services Co., providers of Trakker Loan Servicing Software.As a result of the agreement, Ellie Mae will feature direct integration from its Encompass Mortgage Automation System to Trakker. The integration of Encompass and Trakker responds to broker demand to service loans. Trakker Loan Servicing Software is an end-to-end system that enables companies to easily service conventional and nonconventional loans. Ellie Mae can be found on the Web at http://www.elliemae.com.

Del Mar Database, San Diego, has announced the release of InTrac, a front-end point-of-sale application for small and medium-size mortgage lenders.The application is an optional add-on to a lender's DataTrac software, Del Mar's flagship back-office automation system, the company said. Del Mar said it will continue supporting POS integrations with other software vendors. "The third-party POS systems work very well for many lenders because they are simple and easy to use, and most originators are already familiar with them," said John Walsh, president of Del Mar Database. "However, the very simplicity of the solutions also requires lenders to impose business rules for managing their business outside of their technology. .... InTrac provides a powerful POS option to lenders needing a more sophisticated solution." The company can be found online at http://www.delmardb.com.

Accredited Home Lenders Holding Co., San Diego, has adopted the "next-generation" risk management framework from Zementis to beef up the service and quality of its nonprime automated underwriting system.According to Accredited, the system will reduce manual intervention in the underwriting process and improve feedback to brokers by assessing the risk of a loan application in real-time. Zementis Inc., also based in San Diego, offers its Adaptive Decision Engine as a statistical and analytical system that uses predictive modeling powered by advanced neural network technology. Founded in 1990, Accredited is a nationwide lender that originates, finances, securitizes, services, and sells nonprime mortgage loans. The companies can be found online at http://www.accredhome.com and http://www.zementis.com.

LendingLogix, a new mortgage consulting firm, has been launched in Dallas by Dave Williamson and Scott Baller as a sister firm to AppLogix, a custom software development company.LendingLogix offers to provide strategic and tactical services to mortgage banking companies, addressing areas such as business process management, technology evaluation and implementation, planning for electronic mortgages, and business scorecards. LendingLogix said it will begin offering lenders an introductory process assessment package in February. Mr. Williamson, a frequent mortgage industry speaker formerly with Fiserv and The Performance Group, was a featured panelist at SourceMedia's recent Mortgage EC Conference in Las Vegas.

Tim Doyle and Kathy Gibbons have been named senior directors in government affairs at the Mortgage Bankers Association of America, and Katie Schwarting has been named senior director in commercial real estate finance.Mr. Doyle, previously a director in government affairs, was the staff representative to the MBA's Residential Loan Production Committee. He has also been the association's chief liaison with the Federal Housing Administration, the Department of Veterans Affairs, and the Rural Housing Service. Ms. Gibbons, previously a director in government affairs, has been involved in issues relating to the secondary market, the nonagency mortgage-backed securities market, and the Federal Home Loan Banks. Ms. Schwarting, previously a director in CRE finance, has been involved in the Asset Administration and Loan Origination committees of the Commercial Real Estate/Multifamily Finance Board of Governors, among other activities. The MBA can be found online at http://www.mortgagebankers.org.