Technology

HOPE LoanPort, a proprietary, Web-based tool used by non-profit housing counselors, housing finance agencies, investors, and major mortgage servicers, recently added North Dakota to its roster, making it live in all 50 states, the District of Columbia, and Puerto Rico. The nonprofit organization, which recently completed its first full year of operation, allows housing counselors to submit an application, including the upload of homeowner documents, for home retention in a secure environment.

eMortgage Logic (EML), a Texas-based property valuations provider, recently introduced beta testing of its new mobile application. The application is offered to its nationwide broker network on a limited basis for the first 30 days, and full implementation is expected in August 2011. The EML app allows agents to accept orders, review open and pending orders, and map subject properties in the field via smart phones and tablets.

Default technology provider IndiSoft has partnered with Hosting.com, a provider of cloud hosting and recovery services, to provide guaranteed, consistent compliance and SaaS integration services for IndiSoft clients. IndiSoft will refer its clients to Hosting.com for compliance, business continuity, and disaster recovery solutions. IndiSoft says the collaboration will allow it to effectively manage clients technology needs so they can focus on their core business.

Financial Literacy Solutions LLC (FLS) is providing a video solution for loan mediation to Consolidated Credit Counseling Services, Inc. FLS offers Web-based custom videos and automated forms and materials that enable the borrower to learn about the mediation process. Consolidated Credit says as more states across the nation enact regulations that require mediation as part of the default process, it has seen demand for counseling services rise dramatically.

Aklero Risk Analytics Inc., a Pennsylvania-headquartered provider of automated data and document validity assurance for the mortgage industry, promoted Craig Riddell to SVP of client solutions. Previously, Riddell was the company's VP of product management and client relations. Aklero says its 500 percent percent growth is in large part due to Riddell's knowledge of the mortgage industry and his ability to translate client needs and market demand into value added solutions.

Woodward Asset Capital recently announced improvements to its OfferSubmission and VerifiedShortSale products, which were developed to speed transaction times, prevent fraud, and ensure loss recovery for asset owners. Updates include rules-based offer routing and decisioning, enabling the loan servicer, senior management, outside third-party investors, and mortgage insurers to weigh-in on sale negotiations between the asset manager and buyer's agent in real time, shaving days off the sales cycle.

CoreLogic has announced the introduction of Verification of Military Status (VOMS), a compliance and loan portfolio due diligence solution. VOMS allows mortgage servicers to identify borrowers protected under the Servicemembers Civil Relief Act (SCRA), which bans foreclosures and caps interest rate increases for those on active duty and up to 90 days following discharge.

Pro Teck Valuation Services announced this week that Dan Rizzotti has been promoted to director of quality improvement. He will report directly to Jeff Dickstein, the company's chief appraiser. Prior to his new position, Rizzotti was a senior account manager at Pro Teck. He is a certified appraiser with more than 15 years of real estate valuation experience across various sectors of the industry including origination, servicing, and capital markets.

Oklahoma-based a la mode announced this week that a second major technology provider has selected the company's Mercury Network to ensure compliance with Fannie Mae and Freddie Mac's Uniform Mortgage Data Program (UMDP). Lender Processing Services' LSI division is the latest to sign on to a la mode's system. Last week, the company said CoreLogic has also chosen its Mercury Network for appraisal management that meets the GSEs' requirements.

DebtX, a loan sale advisor for commercial, consumer, and specialty finance debt, says it is working with a number of financial institutions to provide loan portfolio due diligence services to evaluate merger and acquisition (M&A) transactions. The company's M&A advisory service offers asset evaluation, loss forecasting, and cash flow analysis for buying and selling institutions considering strategic transactions.