Technology

HomeAffordableGuide.com provides interactive software that guides borrowers through the application process for mortgage help programs, and the company now offers a 30-day satisfaction guarantee. If a homeowner is not happy with the site's abilities while applying for a loan modification or short sale, they may request a full refund within 30 days of purchase.

Lender Processing Services, Inc. (LPS) announced Monday that it successfully completed year-end mortgage loan processing for its mortgage servicing clients on January 1, 2011. The company processed nearly 37 million loans for 67 mortgage servicers within one day's time. Mortgage servicers must annually report prior-year account information to mortgagors to meet regulations for the Internal Revenue Service (IRS) and other government agencies, as well as to meet internal reporting requirements.

VantageScore 2.0, the latest credit scoring model from VantageScore Solutions, is now fully implemented at all three major credit reporting agencies - Equifax, Experian, and TransUnion. VantageScore 2.0 was created in response to significant changes in consumer credit repayment behavior, and the company says it enables lenders to better mitigate risks and make more informed lending decisions.

Merscorp Inc. (MERS) says its president and CEO, R.K. Arnold, who has been with the company since it was founded 15 years ago, has resigned. Paul Bognanno, former chairman of private mortgage insurer Radian Guaranty, will serve as interim president and CEO and lead the company's search for Arnold's permanent replacement. The executive shake-up is reportedly tied to the controversy surrounding the MERS System and whether or not it has the legal right to foreclose on properties on behalf of lenders and servicers.

Safeguard Properties recently teamed with default servicing veteran Brandon Kirkham to launch Texas-based Compliance Connections. The newly formed company provides technology-assisted solutions and fulfillment services in the areas of code violation and compliance. Kirkham will serve as president of the new company.

REO Maestro has changed its corporate brand to Realis Real Estate Software. REO Maestro will remain the product name of the company's flagship workflow management tool, which has been utilized by agents and brokers specializing in REO properties for the last decade. With rising demand from its customers, Realis is also expanding its product portfolio with the release of Prelude, a tool tailored specifically for short sales and scheduled for release in spring 2011.

Experian announced this week that it will incorporate positive rental data into the traditional credit file in an effort to help underbanked consumers build credit. According to the FDIC Web site, an estimated 17.9 percent of U.S. households, roughly 21 million, are underbanked. Experian says having positive rental history reflected in their credit scores will help consumers who may have faced financial hardships such as foreclosure or bankruptcy rebuild their credit.

Michigan-based VanDyk Mortgage Corporation has selected the G/SERV platform from GCC Servicing Systems, a provider of mortgage servicing technology and solutions, to fulfill the mortgage banker's loan servicing needs. VanDyk, which has closed more than $5 billion in mortgage loans since 1987, selected GCC based on a referral from a fellow lender and the company's expertise with Fannie Mae loans. In 2010, that lender increased its servicing volume by 75 percent.

Wingspan Portfolio Advisors said Tuesday the company has appointed E.J. Kite to the newly created position of SVP of information management. A mortgage technology veteran with 26 years' experience, Kite is responsible for leading Wingspan's expanding technology infrastructure, reporting and analytics capabilities, and integration of the specialty servicer's supporting software tools. Kite joins Wingspan from Fannie Mae and previously spent 20 years at Freddie Mac.

FCI Exchange has announced the launch of its redesigned online trading site, which the company says makes buying and selling notes simpler and faster for transactions involving both individual notes and bulk deals. The FCI Exchange platform allows buyers and sellers to trade mortgage notes securely and privately. The system helps guide clients through every step of the buy/sell process, and FCI Exchange staff closely supervise all aspects of the transaction.