Technology

Veros Software's VeroValue automated valuation model will become an integrated tool in Synergistic Software Systems' SharperLending online platform, allowing lenders to order an AVM through the Electronic Partner Network.VeroValue currently provides valuations in 40 states and over 600 counties nationwide. Veros, based in Irvine, Calif., said it also generates property fitness analytics, price trend information, and VeroForecast, an analytic tool that estimates future values and market stability. Synergistic, based in Spokane, Wash., said its technology already serves 18,000 lenders nationwide, a growing number of which have access to its new SharperLending system -- a Web-based platform through which lenders can order, store, and manage all the reports they need to close a loan. Veros can be found online at http://www.veros.com, and Synergistic can be found at http://www.sharperlending.com.

Master Financial Inc., Orange, Calif., has announced that a Predatory Lending Profile module has been added to the automated decision engine of its Internet-based loan origination system, 30Second Desk.Without duplicate data entry, loan-specific data are calculated and run against federal Section 32 regulations and applicable state, county, and city guidelines to ensure compliance, the company said. The new module augments compliance profiles that check federal and state requirements regarding lending restrictions, late charges, prepayment penalties, and licensing. Master Financial, a subprime and alternative-A wholesale mortgage banker, can be found online at http://www.mfiloans.com.

Laguna Hills, Calif.-based QuestSoft reports that Integra Software Systems, Franklin, Tenn., has integrated QuestSoft's geocoding and compliance solutions into its Destiny loan origination system.Under the agreement, QuestSoft's geocoding and compliance technology, Instant Geocoder and HMDA RELIEF, will be available through Integra's Destiny software. "Compliance issues are becoming more complicated and challenging," said Tim Bartek, senior vice president at Integra. "We chose to work with QuestSoft to meet the growing demand from our own customers for easy and cost-effective ways to simplify the compliance process." Integra Software's website address is http://www.integra-online.com. QuestSoft can be found on the Web at http://www.questsoft.com.

Financial Industry Computer Systems Inc., Dallas, reports that NASA Federal Credit Union has purchased and successfully implemented both FICS' loan origination solution, Loan Producer, and its servicing system, Mortgage Servicer.In addition, NASA FCU purchased a number of additional software tools from FICS for both the origination and servicing side of its business. NASA FCU serves 7,000 members worldwide and has nearly $600 million in assets. It can be found on the Web at http://www.nasafcu.org. FICS' website address is http://www.loanware.com.

LandSafe Inc., a subsidiary of Countrywide Financial Corp., will provide access to flood determinations through the users of Calyx' Point loan origination software.The Point version 4.1 interface allows originators using the system to request flood information from LandSafe without swapping applications. The request is transmitted through the Internet.

Fidelity National Information Solutions, Santa Barbara, Calif., has unveiled FNIS HQ score, a property valuation tool that evaluates current and future price risk and provides an instantaneous risk score.The FNIS HQ Score offers investors, dealers and lenders a tool to identify and manage collateral risk based upon FNIS' property data resources, and proprietary home price forecast indices and loan attributes, the company said. FNIS is a subsidiary of Fidelity National Financial, located at http://www.fnf.com on the Internet.

GHR Systems Inc., Wayne, Pa., has formed a strategic alliance with ValuAmerica, Pittsburgh, under which it will add ValuAmerica's mortgage settlement services to its Entelligent Lender mortgage origination and transaction processing platform.The new relationship adds comprehensive real estate settlement services, including appraisals, title insurance, flood insurance, and closing agency services to GHR’s Web-based platform. These services will also be available within GHR’s new Entelligent Processor system, scheduled for delivery in December. In addition to settlement services, ValuAmerica also offers technology and management consulting services. GHR's website address is http://www.ghrsystems.com.

The Department of Housing and Urban Development has licensed PCi Corp. of Boston, a provider of compliance risk-management systems, to assist HUD in identifying market segments with higher risk of exposure to fair-lending violations and predatory lending practices.PCi said HUD will use its Fair Lending Wiz "to investigate discrimination complaints about lenders by performing in-depth comparative file review and regression analysis to assess lenders’ performance" in fair-lending compliance. HUD plans to roll out Fair Lending Wiz in the second quarter after training staff in Washington and its field investigators in regional offices nationwide.

Oklahoma City-based a la mode inc. and Dynatek Inc., Livonia, Mich., have announced plans for the joint development of a software plug-in that would connect Dynatek lender clients to a la mode's Mercury Network.Real estate appraisers subscribe to the network to connect electronically to more lender clients while using report form-filling software, the companies said. During the design phase, Dynatek and a la mode said they will develop and test technology that allows appraisers to use their favorite form-filling software, regardless of brand, while connecting seamlessly with Dynatek software users. "Addressing these workflow issues is an important part of providing a higher-quality product with shorter turnaround times for our clients," said Craig C. Backus, a business analyst with Dynatek.

XFormic Inc., Burlingame, Calif., has announced the introduction of Direct Credit Solution, a software product that it says "revolutionizes" the way small to medium-size mortgage companies retrieve merged credit reports.DCS allows mortgage companies to bypass existing credit data resellers and purchase data directly from the major credit bureaus, XFormic said. "Going direct allows the mortgage company to avoid reseller markups and save, on average, 40% on data acquisition costs," the company said. ".... Currently, the average reseller charges $12-15 for a tri-merged credit report. With DCS, the cost is $7.88 or less." XFormic can be found online at http://www.xformic.com.