Technology

Digital Docs, Dallas, launched an interactive HUD-1 solution with an embedded e-sign feature at the MBA's Secondary Market Conference and Expo in Washington, D.C.The product has the ability to interface with an originator's loan origination system to reflect last-minute changes in a loan. It also interfaces directly with Digital Docs Direct, a Web-based loan document delivery system to transmit HUD-1 changes into the closing doc. In addition, a high-cost loan and predatory calculation is embedded in the product.

Fannie Mae will continue to convert its existing technology to a completely Web-based platform in an effort to upgrade its old DOS-based technology, Mortgage Wire learned at the MBA's Secondary Market Conference and Expo in Washington, D.C.Fannie Mae began the process in 2002 with the release of an electronic committing application. Going forward, Fannie Mae will test delivery technology products and servicing technology products on a Web-based platform. At present, Fannie Mae has repositioned its cash remittance product on the Web. This application is expected be available in the month of June to those clients that want to transition. Rollout dates for the larger milestones within this technology initiative were not disclosed. However, Fannie did say that no major technology announcements are expected this year.

Framework Inc., Tarrytown, N.Y., has upgraded LendWare Workflow, its Web-based software service component that supports the configuration, management, and automation of business tasks, XML-based integrations, and fulfillment processes.Specifically, LendWare Workflow 3.0 is an effort to align Framework's existing workflow technology with the standards defined by the Workflow Management Coalition, a nonprofit international organization of workflow vendors, users, analysts, and university research groups that defines standards for workflow terminology, process definition, and workflow engine interoperability. WMC engine interoperability standards enable the sharing of both configuration and run-time information between different workflow engines. Framework can be found on the Web at http://www.lendware.com.

Concord, Calif.-based Online Documents Inc., a subsidiary of Stewart Mortgage Information, and Lenders One, a mortgage banking cooperative headquartered in St. Louis, have formed a marketing alliance to provide mortgage document services for Lenders One co-op members.Through the marketing alliance with Lenders One, Online Documents has agreed to provide mortgage document services to every Lenders One member at a single price. Lenders One is an alliance of mortgage originators organized as a cooperative. Online Documents, which provides compliant mortgage documents and related services to lenders, can be found on the Web at http://www.onlinedocuments.com.

DeepGreen Financial, a Cleveland-based home equity lender, has announced the hiring of mortgage industry veteran James L. Gear Jr. as national sales director.Mr. Gear has more than 25 years of industry experience in sales, secondary marketing, technology, and mortgage insurance, the company said, including positions at Amerin Guaranty, Loantrader.com, IMX, Bear Stearns Mortgage Capital, and MGIC. The company also announced the following promotions: Jeff Bell to the new position of chief information officer; Michael Moore to director of business & product development; and Felipe Obando to director of marketing. In addition, David Hadley, DeepGreen's chief technology officer, will take on added responsibilities in the areas of strategic planning, mergers and acquisitions, and special projects. DeepGreen can be found online at http://www.deepgreenfinancial.com.

Decade Systems Corp., Jacksonville, Fla., has formed a strategic partnership with Ellie Mae Inc., Dublin, Calif., whereby Decade will act as Ellie Mae's preferred integration provider and a reseller of Ellie Mae's ClickLoan technology.As the preferred integration provider, Decade will provide integration solutions to Ellie Mae's clients that have a need to integrate Ellie Mae's Encompass and ePASS products to other mortgage technology systems, such as loan origination, core banking, secondary marketing, and servicing products. In addition, Decade's Total Enterprise Data Integration product has been integrated directly into Ellie Mae's universal loan origination system connector, ClickLoan. Ellie Mae, a provider of desktop and Web-enabled mortgage industry productivity technology, can be found on the Web at http://www.elliemae.com. Decade Systems, a provider of systems integration technology for the industry, can be found at http://www.decadesystems.com.

ComplianceEase, a division of San Francisco-based LogicEase Solutions Inc., has released PredatorAnalyzer AssureCert, which the company is calling "the industry's first fully-warranted automated compliance solution."Specifically, the product is designed to enable originators to comply with high-cost and anti-predatory lending legislation and protect against violations. The company will combine the new offering with its existing PredatorAnalyzer product. The combined product is backed by an A.M. Best-rated A++ insurer and covers losses due to fines, penalties, judgments, and secondary-market transaction losses due to compliance defects. The product is available for loan-level protection of up to $300,000 with a coverage period of five years. ComplianceEase can be found on the Web at http://www.complianceease.com.

Danvers Savings Bank, Danvers, Mass., has signed up to employ Lake Mary, Fla.-based Fiserv Lending Solutions' easyLender LOS product.Danvers Savings is an $875 million mutual savings bank that serves the northeastern metropolitan Boston area via its 12 locations in three counties. Danvers Savings says it plans to use the easyLender Mortgage and easyLender Consumer/Commercial software products to automate all aspects of its mortgage, home equity, consumer, and commercial lending operations. Fiserv Lending Solutions, a unit of financial software provider Fiserv Inc., can be found on the Web at http://www.fiservlendingsolutions.com.

Credit Plus Inc., a credit information services company based in Salisbury, Md., has partnered with Document Systems Inc., Carson, Calif., in what amounts to a cross-marketing arrangement.Under the agreement, DSI -- a developer of software, tools, and Web-based systems for the production of compliant loan document packages -- will list Credit Plus as its preferred provider of credit information for its LoanMagic software. On the other side of the coin, Credit Plus has agreed to help market and distribute DSI's loan presentation system. Credit Plus can be found on the Web at http://www.creditplus.com, and DSI can be found at http://www.docmagic.com.

Just Valuation Inc., Altamonte Springs, Fla., and FNC Inc., Oxford, Miss., have announced a strategic alliance that will make JVI's residential appraisal and inspection services available through FNC's CMS collateral information management system.FNC's CMS is an origination decisioning system. JVI itself uses the CMS to manage appraisal and inspection orders, tracking, and delivery among its network of vendors. Through the alliance, other FNC CMS clients will be able to use their systems to order services from JVI. JVI (the majority partner of Southeast Alliance) has more than five years' experience as a management and marketing contractor for the Department of Housing and Urban Development's real-estate-owned inventory for Florida, Puerto Rico, and the U.S. Virgin Islands, as well as HUD REO appraisal oversight for 24 additional states. FNC is a collateral information management company that speeds loan decisions by converting paper to data. It can be found on the Web at http://www.fncinc.com.