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Technology

eBrokerHouse Introduces the Virtual Real Estate Office

The real estate software firm eBrokerHouse recently announced the launch of the company's latest software solution -- EBH Office Solution. The company explained that the new Web-based software allows entire real estate agencies to implement the eBrokerHouse back office management system and operate completely virtual and nearly paperless.

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Fannie Mae Launches Online Resource for Struggling Homeowners

Fannie Mae has rolled out a new interactive online resource for homeowners struggling with their mortgage payments. It's KnowYourOptions.com, and it's designed to be a virtual one-stop-shop for anyone facing financial hardship and in need of foreclosure assistance. Eight months in the making, the site offers tools and guidance for refinancing, repayment plans, forbearance, modifications, Fannie Mae's Deed-for-Lease program, short sales, and deeds-in-lieu.

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IVS Introduces Automated Inspections for Distressed Properties

Infinity Valuation Services (IVS) announced Monday that it now provides a fully-automated inspection form to support its valuation services for distressed properties. The company works with thousands of real estate agents across the country to provide interior and exterior broker price opinions (BPOs), appraisals, and property inspections. IVS explained that as an integrated component of its BPO system, the new form now enables the company to tailor report information to streamline the inspection process.

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DocuTech Adds 25 New Clients in the First Two Quarters of 2010

DocuTech Corp, an Idaho Falls, Idaho-based provider of compliance services and documentation technology for the mortgage industry, recently announced that it signed 25 new clients in the first two quarters of this year, marking 14 consecutive quarters of growth for the 19-year-old company. According to DocuTech, lenders look to the company for sophisticated, but not complicated, mortgage document tools that seamlessly integrate with existing loan origination systems, thus enabling mortgage professionals to generate documents locally.

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Sterling National Rolls Out Escrow Admin Solution for Small Lenders

Sterling National Corporation recently introduced Sterling Total Escrow Solutions - an escrow administration solution for small lenders who have been struggling to comply with new Real Estate Settlement Procedures Act provisions. According to Sterling National, this new offering is the industry's only complete escrow solution, and it allows small lenders to quickly order escrow administration services for new loans and generate the initial escrow disclosure statement online via TotalEscrowServicing.com.

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New Online Platform Aims to Curb Short Sale and REO Fraud

Strategic Disposition Group, LLC, recently launched OfferAssurance.com, a new online platform aimed at addressing the industry-wide concern of fraud in short sale and REO transactions and the need to improve capital recovery for institutional sellers of residential real estate by providing transparency. According to the company, OfferAssurance.com addresses potential fraud and abuse of fiduciary responsibility by having buyer agents, rather than listing agents, submit offers online, thus providing true transparency to the offer submission process.

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CoreLogic Launches New Loan Modification Decisioning Platform

CoreLogic announced Tuesday the availability of WillCap, a new decisioning system that has the ability to predict distressed borrowers' willingness and capacity to make their mortgage payments, thus giving investors and servicers the ability to make more strategic loan modification, short sale, and liquidation decisions at both a loan and portfolio level.

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MERS Expands Web Site to Disclose Loan Investor Information

Merscorp, Inc. (MERS) is making investor information for loans registered on the MERS System available to borrowers at no charge. Through the MERS ServicerID Web site, both servicer and investor information are now displayed. The added investor information is an expansion of the MERS InvestorID program launched in June 2009, which mails a notice to borrowers when the identity of their loan's owner or investor changes.

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Equator Announces 300,000 Short Sale Initiations

Equator said Thursday that 300,000 short sales have been initiated on its platform since the short sale automation solution was launched in November 2009. Just over a month ago, the company hit the 200,000 mark, illustrating just how quickly short sale transactions are gaining momentum. Since January, Equator says its technology platform has processed twice the amount of short sales as REOs. Its users completed an average of 196,822 short sale transactions per day during the first two months of the second quarter of 2010.

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Wolters Kluwer Addresses Intensified Scrutiny of Fair Lending Practices

Wolters Kluwer Financial Services announced this week that the company's Fair Lending Wiz software now includes an Ethnicity Proxy functionality to help improve the quality of Home Mortgage Disclosure Act (HMDA) loan data to detect potential problems that may contribute to discriminatory loans. The Department of Justice is currently investigating 18 lenders for potential fair lending violations as the housing crisis has made predatory lending an area of focus.

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