Technology

MRG Document Technologies, Scottsdale, Ariz., has formed a strategic partnership with Imagine Solutions, Dallas, designed to further automate the post-closing process.The new partnership will allow intelligent bar coding and enhanced data sets provided by Imagine technology to be incorporated into MRG's loan documents. In the end, the goal is to use this functionality to automate the post-closing process for users, who also have the ability to customize the product for their own purposes. MRG can be found on the Web at http://www.mrgdocs.com.

Cenlar FSB, the nation's third-largest subservicer of mortgage loans, will use Fiserv's technology to support home equity lines of credit.Cenlar, of Ewing, N.J., has selected the MortgageServ loan servicing platform to manage HELOCs, Fiserv said. Last month, Cenlar said the addition of line-of-credit subservicing to its service offering was driven by increased demand for open-end products and growth opportunities for HELOC lending in a rising rate environment. Cenlar senior vice president George Schwartz said MortgageServ supports "the ability to preserve multiple brand identities." Fiserv, headquartered in Brookfield, Wis., can be found on the Web at http://www.fiserv.com.

Wilmington, Del.-based TransUnion Settlement Solutions, a subsidiary of global information solutions company TransUnion, has acquired AccuPost Corp., a Denver-based technology and outsource services provider of post-closing solutions.The terms of the deal were not disclosed. The acquisition allows TransUnion to expand its post-closing services by leveraging AccuPost's platform to deliver mortgage assignment and release processing, document retrieval, portfolio due diligence, document imaging, and government insuring services, according to TransUnion. The acquisition is also said to address the current post-closing needs of subprime, direct, and wholesale lenders whose large broker networks create challenges for lenders and trustees trying to maintain a chain of title by combining the product offerings of both companies. TransUnion can be found on the Web at http://www.transunion.com.

Document Processing Systems Inc., Novi, Mich., is touting the implementation of what it terms the first fully paperless, electronic mortgage closing, using the patent-pending DPS eMortgage Studio system.The DPS eMortgage Studio was used by all parties -- the lender, the document the provider, the title company, the settlement agent, the notary, and the borrower -- to electronically create, execute, register, and store all documents for the settlement. "This process represents a giant leap forward in the way mortgage loans are settled," said DPS president Paul Rakowicz. The loan was originated by a DPS partner, 1st Advantage Mortgage LLC of Chicago. Immediately after the borrower, the notary, and the settlement agent electronically signed the documents, 1st Advantage registered the loan on the MERS eRegistry, making it immediately available on the secondary market. Because of the registration, the loan is the first truly uniform electronic note that can be bought and sold on the secondary mortgage market, DPS said. The company can be found on the Web at http://www.directdocs.com.

PCi Corp., Boston, has released what it is calling the HMDA Wiz, an enterprise system for lenders who need to achieve compliance with the Home Mortgage Disclosure Act.Recent amendments to HMDA's Regulation C require lenders to report significantly more client information than ever before. To simplify this process, HMDA Wiz automates the compliance process from beginning to end. Among other things, PCi said, the product identifies and collects accurate HMDA data from disparate loan origination systems; automates the distribution of editing and clean-up responsibilities; pinpoints the most precise geocodes available; analyzes business and market trends; accesses in-depth analysis on data; and determines the origin of inaccurate data to develop future procedural improvements. PCi can be found on the Web at http://www.pciwiz.com.

Portland, Ore.-based SwiftView Inc. and Dynatek Inc., Livonia, Mich., have formed a strategic alliance designed to make paperless loan processing with a fully integrated, Web-based document delivery system available to the mortgage industry.Dynatek's MORvision loan origination software now features a plug-in that gives its customers direct access to SwiftView's SwiftSend Web-based service from within MORvision. The plug-in makes it possible for customers to electronically deliver confidential loan documents to title companies, attorneys, or any recipient with an Internet-connected computer. The companies can be found on the Web at http://www.swiftsend.com and http://www.dynatek.com.

Reveleus Mortgage Analytics, New York, will be deployed at CitiMortgage and CitiFinancial Mortgage Lending businesses to deliver cross-functional analytics across its credit and marketing functions.As part of the enterprise-wide solution, Reveleus will implement its Mortgage Credit Risk and Mortgage Marketing Analytics. As a result, Citi users will now be able to access information and analysis relating to the whole lifecycle of customer activity by consolidating data across originations, account maintenance and collections. This product will allow Citi to integrate marketing and credit risk analysis, which can then be applied in targeted campaigns based on improved risk-enabled customer segment information.

Mortgage Benefits Corp., a Redwood City, Calif., firm that offers a turnkey solution for employers to offer mortgages as part of an employee benefit package, has signed agreements with four benefits brokers to offer the MortgageChoice Plan to their clients.The four companies are BB&H Benefit Designs, Benefits Solutions Co., Westland Insurance Brokers and WorldWide Financial Group. Marsha Tiller, president of MBC said, "Our agreements with these benefits brokers allow us to extend our client reach nationwide and provide almost immediate implementation. The positive reception to the MortgageChoice Plan by benefits brokers indicates a demand in the marketplace for high-impact, voluntary employee benefit products and our group mortgage plan fits that profile."

Epitome Systems, Wayne, Pa., has released a new group of enterprise productivity management products for the mortgage industry.The products stemmed from an initiative to automate the global processing environment at GMAC Commercial Holdings, Epitome said. Epitome's Enterprise Productivity Management Mortgage system brings to market a technology application that provides a set of platforms for content acquisition, integrated processes, and business visibility, according to the company. Specifically, it offers a proprietary, end-to-end solution that incorporates many features such as workflow, document, and content management, collaboration, business process management, and more. Epitome can be found on the Web at http://www.epitomesystems.com.

Stewart Mortgage Information, Houston, has announced the introduction of a digital photograph product on its ValuLogix automated valuation model platform.The product, Subject Property Photo, enables digital photographs to be delivered to a lender within 24 hours along with a written inspection indicating the property condition and occupancy status of a subject property, SMI said. It is also available as a standalone product for use in servicing or the foreclosure process. "By providing visual evidence, SMI provides an additional level of confidence for lenders currently using AVMs to speed up their closing process," said Kevin Gugenheim, SMI's president and chief operating officer. SMI's ValuLogix platform allows a customer to use various AVM models based on customer-defined loan and underwriting criteria. The company can be found online at http://smi.stewart.com.