Technology

First American Corp., Santa Ana, Calif., and Dorado Corp., San Mateo, Calif., have announced jointly developing a common, unified point-of-sale platform.The new platform will combine Dorado ChannelMaster enterprise lending software and Dorado SourceMaster intelligent ordering software with First American's Web services-based vendor management platform, the companies said. The new platform, scheduled to be available by the end of first-quarter 2006, is designed to offer lenders on-demand loan processing and fulfillment at the point of sale. The companies currently provide integrated POS solutions to EverBank, Oak Street Mortgage, and Union Bank of California. Dorado ChannelMaster provides on-demand, POS access to third-party services. Its SourceMaster is a rules-based settlement services platform. First American's Web services-based vendor management platform offers state-of-the-art bundling and third-party services procurement, the companies said. First American can be found online at http://www.firstam.com, and Dorado can be found at http://www.dorado.com.

Wells Fargo, Des Moines, Iowa, has selected Vienna, Va.-based VirPack to support Wells Fargo Delivery Express by providing electronic loan delivery and imaging for transactions with Wells Fargo's correspondent lending partners.Instead of mailing loan packages, correspondents can use VirPack Direct to transmit loan files to Wells Fargo Funding for purchase review. Loans identified for delivery to Wells are instantly retrieved from the VirPack system and delivered securely. Delivered free to VirPack customers, VirPack Direct is integrated with VirPack's imaging solutions and its barcoding, scan capture, and electronic document-management tools. VirPack boasts that its imaging systems can be installed and in production within three days. Wells Fargo Funding's client base includes more than 1,000 banks, thrifts, and mortgage lenders nationwide. The companies can be found on the Web at http://www.wellsfargo.com and http://www.virpack.com.

Costa Mesa, Calif.-based Experian has announced the launch of Portfolio Benchmarking and Trend Analysis, touting it as "the first total portfolio management and acquisition solution on the market today."The tool is built on Experian's File One consumer credit database and tracks changes in credit activity to enable quick assessment of current conditions in support of strategic portfolio decisions, the company said. One example cited by Experian is the use of the tool to profile consumers in a specific metropolitan statistical area, state, or region based on delinquency, loan amount, utilization, and inquiry behaviors. Portfolio managers are enabled to look at changes in 30-, 60- and 90-day delinquency trends to adjust risk-management protocols. The tool offers a snapshot generated from a statistically valid 20% random sample of Experian's File One consumer credit database, which currently includes records dating back to 2003. Experian can be found on the Web at http://www.experian.com.

Stewart Geo Technologies, a subsidiary of real estate information provider Stewart Information Services Corp., has announced the unveiling of Stewart re-source, a Web-based site analysis tool for commercial real estate professionals.Stewart re-source provides map-based searches and access to demographic reports, flood certifications, aerial images, property outlines, and dynamic flood, earthquake, demographic, and hazardous material maps, the company said. "Stewart re-source enables real estate professionals such as developers, lenders, brokers, insurers, and investors to search for properties and generate dynamic reports as part of their due-diligence process," said Kas Ebrahim, president and chief executive officer of Stewart Geo Technologies. "All the necessary resources are in one place, and with the Web-based application, data can be accessed from any computer with Internet connectivity. It also can be branded and integrated with the user's own data." The new tool can be found online at http://www.stewartsource.com.

Citing FBI statistics showing mortgage fraud on the rise, Calabasas, Calif.-based Interthinx has announced the integration of its DISSCO fraud detection and prevention system with Fiserv's easyLender mortgage loan origination system.Loans originated in Fiserv's easyLender now can be instantly submitted to DISSCO for automatic screening, with no rekeying necessary. DISSCO (data integrity search and score system) is an electronic fraud-prevention tool that can instantly search hundreds of mortgage-related data fields in a loan record to identify and score misinformation, inaccuracies, and inconsistencies that could indicate fraud. A DISSCO report is issued with step-by-step recommendations on how to respond. Interthinx can be found online at http://www.interthinx.com.

The First American Corp., Santa Ana, Calif., and the National Association of Hispanic Real Estate Professionals, San Diego, have announced the launch of the NAHREP National Referral Network on MSN Latino Finanzas, a Spanish-language Web destination.The referral network offers a wide range of integrated real estate service providers who are ready to assist Spanish-speaking consumers interested in buying a home, First American and NAHREP said. "Home seekers who choose to take advantage of this referral network can rest assured that they will be guided, end-to-end, through the homebuying process by qualified advocates committed to their satisfaction," said NAHREP chairman Frances Martinez Myers. First American can be found online at http://www.firstam.com, and MSN Latino Finanzas can be found at http://www.latino.msn.com/promo/finanzas.

ARC Systems, a provider of decisioning technology based in Austin, Texas, has announced a partnership with the National Credit Reporting Association under which the NCRA and its Atlanta-based joint venture, CDS Mortgage Reports Inc., will offer a preferential connection to ARC Systems.ARC Systems said new interfaces built into its LendTech and Loan Finder Express products will provide access to more than 150 credit reporting agencies. NCRA members will have direct access to a portal that provides a connection to ARC Systems clients who want to obtain credit reporting services. "The new program is a great example of the classic win-win, as ARC Systems' customers, and the consumers they serve, can now obtain access to a network of credit reporting agencies known for the best customer service in the industry in the most cost-effective manner," said Terry Clemans, executive director of the Bloomingdale, Ill-based NCRA. ARC Systems can be found online at http://www.arcsystems.com.

San Francisco-based LoanPerformance has announced the release of the beta version of TrueStandings Servicing, a Web-based analysis and reporting system for mortgage servicers.The company said TrueStandings provides instant access to delinquency, prepayment, and loan characteristics on more than 40 million active mortgage loans and a historical database of more than 100 million loans. Among the new features of the system are ZIP code-level reporting, additional risk metrics for prepayments and delinquencies, and an interactive mapping feature. "A client-driven evolution of our previous data applications, TrueStandings Servicing provides unprecedented reporting and analysis flexibility," said Dan Feshbach, president and chief executive officer of LoanPerformance. Beta testing of the system is expected to end in December, with general availability in the first quarter of next year, the company said. LoanPerformance, a subsidiary of First American Real Estate Solutions, can be found online at http://www.loanperformance.com.

Ocwen Financial Corp., West Palm Beach, Fla., has announced the introduction of 24-hour mortgage loan processing and closing services for mortgage lenders and brokers.Ocwen said its loan processing services (including all back-office activities) are aimed at originators who want to shorten the closing cycle, reduce expenses, and improve accuracy. Ocwen executive vice president W. Michael Linn said Ocwen's document imaging technology ensures clean loan packages and enables lenders and brokers to reduce the time from application to close by a week or more. "Because we also perform due-diligence services, we understand how important it is to produce clean loan files," he said. "After the lender or broker supplies the mortgage application, we image all supporting loan documents. This allows Ocwen personnel across multiple time zones to multitask on a single file, eliminating bottlenecks and speeding the entire process." Ocwen can be found online at http://www.ocwen.com.

Texell Interactive Media, Jim Thorpe, Pa., has announced that it will conduct live podcasts at the Mortgage Bankers Association's 92nd Annual Convention & Expo and at SourceMedia's 2005 Tech Awards Ceremony, both in Orlando, Fla.Rick Grant, Texell's president and chief executive officer (and a former managing editor of Mortgage Technology magazine), will do a limited number of podcast interviews with participants at the convention, slated for Oct. 23-26, at the Texell and Martopia booth. (Martopia, a Texell affiliate, is the official marketer for the 2005 Tech Awards.) Texell will also record podcast interviews Oct. 23 with the winners of the tech awards that will be available the next day at http://www.mortgage-technology.com/awards. Texell can be found online at http://www.texellmedia.com.