Technology

First Lenders Data Inc., an Austin, Texas-based technology, data, and bundled services provider, has formed an alliance with Western Reliance Corp., Portland, Ore., to provide bundled services to financial institutions.FLDI said it was chosen by Western Reliance to provide bundled services and is now providing its customers with credit reports, automated valuation models, insured AVMs, appraisals, flood certifications, property reports, legal and vesting reports, lien reports, and income verification through MorClose, a licensed version of FLDI's vendor management platform called FirstClose. Western Reliance is a provider of collateral protection insurance and tracking systems and ancillary insurance products to lenders. The companies can be found on the Web at http://www.fldi.com and http://www.westernreliance.com.

TA Associates, a Boston-based private equity and buyout firm, has announced the investment of $50 million in C&S Marketing, a provider of mortgage lending information and technology based in Sacramento, Calif.The investment represents a minority interest in C&S Marketing. "We have established a valuable and unique channel as a 'vendor-neutral' AVM provider, and we aim to become the dominant information portal for the mortgage lending community," said Steve Schroeder, C&S Marketing's chief executive officer. "We believe partnering with TA will help us achieve this goal and maintain our lead in providing customized best-of-breed solutions to our clients." The companies can be found online at http://www.ta.com and http://www.csmarketing.net.

The Real Estate Solutions division of Jacksonville, Fla.-based Fidelity National Financial Inc. has updated its TransactionPoint Suite, a Web-based real estate transaction management platform and ordering system.Transaction Point version 8.7, which includes an updated user interface, enables brokers to enter property data, add clients, create transactions, update activities, order services, upload documents, and share information throughout the life cycle of the real estate process, the company said. The system also helps brokers manage risk by standardizing processes and centralizing documentation. The FNF family of companies can be found on the Web at http://www.fnf.com and http://www.fidelityinfoservices.com.

PMAC, West Covina, Calif., has launched a website that provides information and services aimed at consumers, mortgage brokers, and other groups affiliated with the mortgage banking industry.The company said it has restructured its operations to focus on three key lending areas: wholesale, outsourced, and retail. "PMAC's Wholesale Lending Group is an exciting new venture for us in that we can now offer competitive loan programs," said Jon Magill, president and chief executive officer of PMAC. "Many of these programs are unique to PMAC and offered directly to mortgage brokers and third-party originators." The new website can be found online at http://www.pmac.com.

Roger Gudobba, senior principal for strategic business development at VMP Mortgage Solutions Inc., has been named chairperson of the eMortgage Alliance, replacing Dave Williamson of the Performance Group."Roger is a strong evangelist," said Ty Jenkins, founder and chief executive officer of DocuTech Corp. and a member of the eMortgage Alliance. "He's got the vision. Everything with e-forms, electronic delivery has been his strong point. He's carried that baton for years, and he'll be great for the eMortgage Alliance." Each chairperson holds the title for a single one-year term. The eMortgage Alliance is a consortium of companies that have assembled to promote standards-based electronic mortgage technology, systems, and best practices to encourage the industry to move toward the eventual acceptance of a complete electronic mortgage. The organization can be found on the Web at http://www.emortgagealliance.us.

First Line Data Inc., Boulder, Colo., has announced the launch of its exclusive Alert! Summary and Firstline Score on the company's Broker Verification Review reports.The enhancements provide wholesale mortgage lenders the decision-support information needed to more quickly determine the approval of a third-party originator, the company said. Alert! messages are for material discrepancies between submitted information and records found or any derogatory information found within a BVR report. An Alert! summary is also provided on the front page, along with the Firstline Score&trade, which uses a risk-based scoring model that calculates the combined weighted average of all Alerts found in the report. "A First Line Data BVR report in a file will quickly demonstrate to a third party the procedures employed in determining the initial approval of a business partner," said Nancy Cowley, senior account executive at First Line. "Our reports provide clear evidence of a sound due-diligence process." First Line can be found online at http://www.firstlinedata.com.

Laguna Hills, Calif.-based QuestSoft, a provider of Home Mortgage Disclosure Act and Community Reinvestment Act compliance systems and geocoding services for lenders, has announced the release of Instant Geocoder 1.8 Plus.Instant Geocoder uses census tract demographic information to help lenders and brokers determine a potential loan's HMDA and CRA compliance value and marketability before issuing a loan quote, QuestSoft said. Instant Geocoder 1.8 includes the most recent postal and census data along with new search and cross-reference features. The software enables users to cross-reference cities with corresponding ZIP codes even in the event of a misspelling or incorrect ZIP code entry, the company said. Instant Geocoder is available in both Windows-based and Extensible Markup Language-based versions and uses the same data set for both products. QuestSoft has also enhanced the census demographic data available with the latest version. QuestSoft can be found on the Web at http://www.questsoft.com.

Hyland Software Inc., Westlake, Ohio, and New York-based Bisys have formed a strategic alliance, positioning Hyland's OnBase as one of Bisys's preferred enterprise content management systems.OnBase helps Bisys client banks electronically capture, store, and manage documents, including application files, reports, forms, and statements. Its integration with Bisys's core processing, loan origination, and CRM systems allows financial institutions to share information electronically across the enterprise. Hyland can be found on the Web at http://www.onbase.com, and Bisys, a provider of outsourcing systems for the financial services sector, can be found at http://www.bisys.com.

Houston-based Credit Union Acceptance Corp. has implemented APPRO Systems Inc.'s automated decisioning system, LoanCenter Consumer.The application and decisioning process was completely manual before using this application, CUAC said. Dealers were required to fax in applications, which were manually entered and decisioned. CUAC said it worked with seven credit unions in the Houston area before implementation of the new system and funded approximately 50 loans per month. Now it works with 60 credit unions in eight states and funds more than 3,500 loans per month, the company reported. Approximately 88% of applications submitted to CUAC in 2004 were input via the new application. CUAC can be found on the Web at http://www.cuac.net, and APPRO can be found at http://www.approsystems.com.

American Capital Strategies Ltd. has entered into an agreement to act as an equity partner and majority shareholder of eLynx Ltd., a Cincinnati-based provider of secure electronic document delivery services to the mortgage industry.According to the agreement, eLynx will retain its name, corporate identity, and current staff and continue to operate from its Cincinnati headquarters. "This partnership provides eLynx with the financial strength and business resources to broaden our service offerings and continue our growth," said Phil Huff, chief executive officer and co-founder of eLynx. According to ACS managing director Robert Klein, the company will "work with eLynx so that it has the resources to develop products and services in advance of customer needs." eLynx can be found on the Web at http://www.elynx.com.