Technology

WWW.MortgageExpressLoan.com, Miami, has announced the launch of free online mortgage loan applications that it will send in "real time" to three lenders who specialize in what is deemed the most appropriate loan program for the loan applicant.The application takes about 30 seconds to fill out, and will receive "top priority attention, because there are over 600 lenders in our system," the company said. The "real time" guarantee means the application will be e-mailed or faxed to the appropriate lenders as soon as it is received, WWW.MortgageExpressLoan.com said. It can be found on the Web at http://www.mortgageexpressloan.com.

LandAmerica Financial Group Inc. has given three of its executives new titles, two of which affect positions at the company's online title and closing services unit for mortgage lenders.Cheryl Cox -- previously vice president, national closing operations -- has been promoted to president of the aforementioned title and closing unit, LandAmerica OneStop; Melissa Hill, previously president of LandAmerica OneStop, has been promoted to the newly created position of executive vice president, production and process improvement; and Bruce Wood -- who was previously vice president, planning and analysis -- has been named senior vice president, financial planning. LandAmerica can be found on the Web at http://www.landam.com.

LendingTree, Inc. has purchased certain assets of RealEstate.com from Primedia Inc.The online lender paid an undisclosed price for the real estate website's brand, uniform resource locator and other assets it felt complemented its business model. LendingTree can be found on the Web at http://www.lendingtree.com.

DST Technologies Inc., Kansas City, Mo., has announced that it will integrate its business process management system with Fannie Mae's Desktop Underwriter automated underwriting engine to enable lenders to move toward straight-through processing of mortgage loans.The system will allow mortgage lenders using DU to automate the processing of mortgage loans based on DU findings and other lender-provided specifications. The company said the Automated Work Distributor BPM technology supports all aspects of the lending process, provides a secure and accurate audit trail, eliminates the need to transfer or access paper files, and allows individuals in different states and time zones to participate in a single integrated workflow. The DST system can be found online at http://www.dstawd.com.

Secure Identity Services Accreditation Corp., a nonprofit subsidiary of the Mortgage Bankers Association, has announced the accreditation of KPMG LLP as auditor for identity management compliance of mortgage industry standards.KPMG becomes the first auditor to receive a SISAC accreditation. SISAC said it develops and promotes minimum ID management standards, such as insurance and liability limits, by accrediting credential service providers that meet mortgage industry requirements. "With these accreditations we are now one step closer to the establishment of single sign-on for users, electronically automated processes, and embedded security that provides real assurance of privacy, integrity, and nonrepudiation of electronic records and transactions," said Jim Anderson, Freddie Mac's director of information systems and co-chair of the MBA's Security Workgroup. SISAC board member Bill R. Frazer, chief financial officer of L.J. Melody & Co., said the accreditation of KPMG "tells the mortgage industry -- both residential and commercial -- that digital transactions are moving into the mainstream."

Charlotte, NC-based Financial ServiceSolutions LLC, a joint venture founded this year by Bank of America and Fidelity National Financial, has announced an agreement under which Accenture will be the primary sales and marketing channel and the preferred integrator for FSS.The agreement calls for Accenture to acquire an unstipulated "small" equity interest in FSS, which offers mortgage origination and fulfillment outsourcing services and technology to large and mid-tier lenders. Financial ServiceSolutions will become Accenture's exclusive offering for business process outsourcing in the United States. Accenture will also provide FSS with consulting, technology, and outsourcing services. The FSS ProcessPro systems help lenders manage the mortgage application process from application and underwriting to closing and funding, including processing and third-party vendor management.

In a deal touted as giving lender customers greater access to consumers, Charlotte, N.C.-based LendingTree has announced the completion of its acquisition of former competitor GetSmart.com and the GetSmart brand from Providian Financial Corp.Terms of the deal were not disclosed. LendingTree said it will continue to maintain relationships with more than 100 lenders participating in the GetSmart exchange and will offer the GetSmart platform to the more than 200 lenders currently on the LendingTree exchange. LendingTree was acquired in August 2003 by IAC/InterActiveCorp, formerly USA Interactive. LendingTree facilitates loans to consumers, including home mortgage, home equity, automobile, personal, debt consolidation, and credit cards. IAC/InterActiveCorp consists of LendingTree and businesses such as Expedia Inc., Hotels.com, Ticketmaster, and Citysearch, among others. The companies can be found online at http://www.lendingtree.com, http://www.getsmart.com, and http://www.providian.com.

Epic Financial Corp., Newport Beach, Calif., and Paramco Financial Group, Denver, have announced an alliance with Datalogic International to develop a proprietary Voice Over Internet Protocol video conferencing system for the mortgage industry.Epic's technology division led the effort, bringing in Paramco as a partner and Datalogic for research-and-development initiatives and to use its VoIP platform to deploy the system, the companies said. Once the video conferencing system is fully developed, Epic and Paramco will deploy it to their mortgage subsidiaries, such as Epic's Key Mortgage Corp. and Paramco's Royal Federal Inc., they said. "VoIP Video Conferencing is something we have envisioned for a number of years, but now with advancements in technology and the help of Datalogic, we can bring this solution to fruition," said Epic president William Parker. Epic can be found online at http://www.4epic.com and Paramco can be found at http://www.paramco.net.

Qvault has announced nationwide support of the Status Sweep collaboration tool for Calyx Point loan origination software that lets Calyx Point users enable their existing Point software for the Web without hardware or software changes.Status Sweep includes online pipeline management, automatic e-mail notifications of loan activity to borrowers and partners, and customized interfaces for staff and borrowers to view loan information and collaborate online from any Web browser. Operating on an application service provider basis, Status Sweep "sweeps" active borrower files on an hourly basis and then securely posts the information on customized websites for management, loan officers, and processors to view critical information. Borrowers also can log into the system and view detailed loan status information.

No Red Tape Mortgage, Sherman Oaks, Calif., has announced the launch of its U-Close automated loan management system, which it says enables brokers to manage and close jumbo loans on the Internet through any loan origination system with two clicks.The system allows the comparison of thousands of jumbo programs and pricing variations, all with interest-only options, and it enables brokers to get pre-approvals and pre-locks in seconds, the company said. Loan packages can be delivered to No Red Tape by mail or by scanning and faxing the entire package into Blitzdocs, with next-day decision guaranteed on loans up to $2 million. Blitzdocs digitizes and archives documents for use and review in a virtual, online folder. No Red Tape said its U-Close processors then organize, deliver, underwrite, audit, archive, and share loan documents using that e-folder. Brokers are able to securely access and view the loan folder and also fax or scan conditions directly into the file in real time. The company can be found online at http://www.noredtape.com.