Technology

Lending Tree Inc., Charlotte, N.C., has reported that General Motors Acceptance Corp. has dismissed a recently filed complaint alleging that LendingTree was attempting to trade on GMAC's reputation by using or appropriating GMAC's trademark as a domain name.LendingTree quoted GMAC counsel Charles H. Ellerbrock as stating, "Once we learned that LendingTree had not used 'GMAC' in an Internet domain name, we withdrew the complaint. LendingTree was very gracious about the whole thing." LendingTree, an operating business of IAC/InterActiveCorp., can be found online at http://www.lendingtree.com.

Stewart Mortgage Information, a Houston-based wholly owned subsidiary of Stewart Information Services Corp., has announced the formation of Stewart Default Solutions Inc. to offer default management and technology systems for the mortgage and consumer services industry.C. Alan Paylor, who recently joined SMI, will serve as chief operating officer of the new company. The company cited the most recent Mortgage Bankers Association delinquency survey as showing that 1.29% of one- to four-unit residential properties at the end of the fourth quarter of 2003 were in foreclosure, a 5-basis-point jump from the third-quarter rate of 1.24%. The company said it will change its default workflow processes and add new technology. SMI can be found online at http://smi.stewart.com.

ABN Amro Mortgage Group has rolled out an electronic mortgage broker tool to the market at large, and the company has more broker-oriented technology improvements in the works, AAMG executives told reporters at the National Association of Mortgage Brokers annual convention.Pricing Tool Only, which enables brokers to select their own settlement service providers and negotiate the associated settlement services costs, had been undergoing testing by AAMG before the marketwide rollout. In addition to expanding the availability of the tool, AAMG said it plans to make the management of settlement service providers easier for brokers. Company executives said this and other improvements to the company's automation are scheduled to be launched by the end of the year.

Oklahoma City-based a la mode inc. has debuted Mortgage XSites -- websites containing business tools to generate leads and cut paperwork, among other things -- at the annual convention of the National Association of Mortgage Brokers.The sites are available for one annual fee, with "no nickel-and-dime add-ons or surprises," the company said. Among the features available on the sites are: DirectFax, which converts faxed tax returns and other paperwork to digital files; FlexApp 1003s, which the company says give small offices and single mortgage brokers the online application functionality of big lenders' sites; daily news feeds; and mortgage calculators. "MortgageXSites are the final piece of the online mortgage revolution," said Brad Eaton, the company's project manager for the sites. "Previously, only the biggest originators and niche lenders whose entire business model relied on the Internet channel had the interactive technology to allow borrowers to complete applications electronically." The company and the new websites can be found online at http://www.alamode.com and http://www.mortgagexsites.com.

ARC Systems, a mortgage automation provider based in Austin, Texas, has announced the release of Loan Finder Express, an underwriting tool designed for mid-tier lenders and brokers.ARC termed the product "a comprehensive, browser-based product eligibility engine [that] integrates credit to deliver a fully adjusted price." The system offers lenders "a fast, easy way to custom-match borrowers with loan programs ranging from conforming to nonprime -- even if their originators have limited experience with a product category," the company said. The release was announced at the annual convention of the National Association of Mortgage Brokers in Salt Lake City. The company can be found online at http://www.arcsystems.com.

DocuTech Corp., a provider of compliance services and documentation technology, has debuted its new PowerLend product at the National Association of Mortgage Brokers conference in Salt Lake City.PowerLend is a Web-based system that integrates a broker's closing software and identifies refinancing options that can be offered to borrowers for their consumer loans. The tool is designed to give brokers the ability to identify future lending opportunities. DocuTech can be found on the Web at http://www.docutechcorp.com.

Calabasas, Calif.-based Sysdome has announced the release of its new BrokerScore product designed to detect broker fraud.BrokerScore is a fraud prevention tool that reviews originators each month, performing audits and background checks on mortgage brokers and affiliated groups on behalf of lenders. BrokerScore rates individual brokers with a "score" that is shared with both the broker and the lender, Sysdome said. Brokers can contest the information provided and use their score as a marketing tool as well. Sysdome is in talks with the National Association of Mortgage Brokers to use the product as the basis of a national registry that would track the performance of brokers across the country in an effort to cut down on broker fraud. The product announcement was made at the NAMB annual convention in Salt Lake City. Sysdome can be found on the Web at http://www.sysdome.com.

Mark Lefanowicz, chief operating officer of E-Loan Inc., Pleasanton, Calif., has been promoted to president of E-Loan and will retain his position as COO.Mr. Lefanowicz has been E-Loan's COO since January, and has been a company director since October 2002. The company also announced the appointment of Susan Catherine Muriel as its new chief marketing officer. She joins E-Loan from Upromise Inc., a private college funding program. E-Loan, a consumer-direct lender that offers mortgage, auto, and home equity loans, can be found online at http://www.eloan.com.

Wachovia has signed up to participate on Wayne, Pa.-based GHR Systems' Web-based origination marketplace, BrokerOneSource.There are currently about 2,000 brokers conducting business on the site, and GHR says 100 to 200 new brokers sign up each day. At present, 13 lenders participate. GHR can be found on the Web at http://www.ghrsystems.com.

Genworth Financial Inc., Raleigh, N.C., has announced the introduction of Underwrite Express, an online service that the company says combines the benefits of two of its mortgage technology platforms.The service integrates AU Central, Genworth's proprietary automated underwriting engine, with Doc Central, its online platform for creating and sharing loan documents, the company said. "We designed this platform to serve the needs of mortgage originators who want quicker underwriting turnaround," said Kevin Schneider, Genworth's president for U.S. mortgage insurance. "Underwrite Express meets their needs by seamlessly integrating two proven platforms that already are being used successfully by originators nationwide." Genworth can be found online at http://www.genworth.com.