Technology

Equator, a Los Angeles-based provider of ecommerce, data, and professional services to the default servicing industry, is releasing a new product designed exclusively for real estate agents. ""This is the first time there's an enterprise-level solution for agents,"" Chris Saitta, CEO of Equator told DSNews.com. Currently, most agents rely on a variety of software, but REvolution will them to manage all their daily tasks through one program.

Keystone Asset Management Inc. is a national provider of REO, default management, and property valuation services headquartered in Colmar, Pennsylvania. The company announced this week that it has successfully completed its SSAE #16 Type II Audit. This is a widely recognized audit that assures the company’s information system reporting controls, processes and procedures adhere to industry best practices.

DecisionReady -- a California-based provider of default servicing compliance solutions -- has just introduced a new vendor compliance management module to work with its compliance suite. DecisionReady designed the module to address the shortcomings regulators found in their 2010 Interagency Review of Foreclosure Policies and Practices. The regulators found that third-party vendors were not being properly managed.

Santa Ana, California-based CoreLogic has exceeded 1 million active real estate listings on its Partner InfoNet program, which started operation in June 2010. Partner InfoNet is a revenue sharing program in which multiple listing services (MLSs) license their listing data to CoreLogic for use in risk management products for mortgage lenders, servicers, and capital markets. The program represents more than 300,000 real estate professionals.

IndiSoft, a technology development firm that focuses on systems for the default services industry, has expanded its management team, hiring Rosa Linnear as a new project manager and tapping Nandini Thosar as a software engineer. The company says as the industry's need for default management technology and expertise increases and more organizations select IndiSoft, it is paramount that the firm not only expands its team but finds the right individuals to best serve clients.

While servicers attempt to develop processes to implement the single point of contact (SPOC) requirement that is part of the Federal Housing Finance Agency's Servicing Alignment Initiative, technology companies have developed solutions to address the new regulation. Representatives from several of these companies spoke about the issue during a panel discussion at the Five Star Default Servicing Conference and Expo. They say collaboration between industry partners is key to overcoming logistical challenges.

A majority of the attendees at the social media session of the Five Star Default Servicing Conference and Expo shot up their hands when the panel moderator asked how many people used Facebook. Fewer hands hovered in the air when he surveyed the crowd about Twitter. Still fewer signaled their membership to LinkedIn. Those who aren't taking full advantage of social media marketing tools are missing out on valuable free opportunities to further their business and build their own personal brand, according to the panel's experts.

NextAce Corp., Orange, California, unveiled SearchQ, a solution that provides immediate retrieval of property ownership from the company's Web site. SearxhQ provides users with details on property ownership on the latest deed and all ownership changes for up to 10 years; outstanding debt, including mortgages, assignments, foreclosure activity, and voluntary and involuntary liens; taxes, including current year taxes and payment information in many counties; current vesting information and an abbreviated legal description for the property.

American Home Mortgage Servicing Inc. (AHMSI), based in Coppell, Texas, has deployed a new system to keep call center agents up-to-date on regulatory changes. AHMSI had relied on a learning management system to train its agents but had difficulty finding the time to use the technology without taking the agents away from their duties, hurting service levels, according to Atlanta, Georgia-based Knowlagent, which supplied its RightTime technology to AHMSI.

Commerce Velocity, a member of the Fidelity National Financial family of companies, has enhanced its Optimizer solution to help achieve the new requirements for the Quality Right Party Contact (QRPC) standard outlined by Fannie Mae and Freddie Mac as part of the GSEs' servicing alignment initiative. The new enhancements are designed to arm servicers with technology to document communication to the borrower regarding the resolution of their delinquent mortgage, as required by QRPC.