Technology

Recent Home Mortgage Disclosure Act (HMDA) data released by the Federal Financial Institutions Examination Council (FFIEC) revealed that 11 percent of lenders doubled their volume during the 2009 calendar year. Of those lenders, 40 percent use HMDA and compliance software from QuestSoft. One San Diego-based lender says QuestSoft's technology has cut the time needed to geocode and prepare its quarterly regulatory reports by 90 percent.

Analytics firm CoreLogic released Tuesday a real-time fraud assessment and income estimation tool designed to help users comply with recent federal mandates that require lenders to validate borrowers' ability to pay. The program aims to make it possible to confidently lend to people who have little or no credit history.

Interthinx was awarded a Federal Supply Schedule contract by the General Services Administration (GSA) to sell its products and services directly to federal government organizations. The contract streamlines the government procurement process and allows government customers to buy offerings at pre-negotiated rates. Interthinx will offer government customers access to mortgage risk mitigation tools.

MDA DataQuick, one of the nation's largest independent providers of property data to real estate and mortgage professionals, recently updated PropertyFinder 2G, the company's property research tool. Changes include expanded property details on distressed sales transactions and more accurate tracking. The technology gives users access to a nationwide database of detailed property and ownership information, including property profiles, sales comparables, demographic information, and property history.

Pegasystems Inc, a provider of customer relationship management solutions, has launched a new pre-foreclosure solution that allows mortgage servicers to implement regulatory quality controls before foreclosure. The timing of the product roll-out couldn't be more apt, considering the uncertainty now surrounding foreclosure documentation and servicing procedures due to the recent robo-signing fiasco.

According to a survey of 3,000 consumers conducted by Fiserv, Inc. 11 percent of online consumers are currently connected with their banks or credit unions through social media. The survey also revealed that 36 percent of those not connected are interested in doing so. consumers who connect to their financial institution via social media and consumers who are interested in connecting are already devoted to their bank or credit union and use an average of 5.4 banking services.

The Realtors Property Resource, a new tool from the National Association of Realtors (NAR), will soon include school boundary data from Maponics. Realtors Property Resource (RPR) is an online real estate library that includes assessor and recorder data, active and off-market listing data, mortgage information, foreclosure and pre-foreclosure stats, demographics, schools, and geographic information.

IndiSoft, a technology development firm that focuses on systems for the default servicing industry, recently hired Atul Shinde as customer support manager. He will provide technical and project support to IndiSoft's RxOffice clients. Shinde has a dual background in the development of technological domains as well as client communications and problem resolution.

Wingspan Portfolio Advisors, a specialty and component mortgage servicer focusing on highly delinquent loans, recently started using the loss mitigation module from technology developer IndiSoft's RxOffice platform. IndiSoft says Wingspan will use the system to help borrowers avoid foreclosure through either repayment alternatives or short sales to maximize the value of severely delinquent loans for investors.

The real estate software firm eBrokerHouse recently released its Rapid Trustee Sale (RTS) tracking and management software platform for Los Angeles County and Orange County auctions. The system allows agents and investors to track opening bids in real time and have access to every county auction that the software services. The company is planning to expand RTS' coverage to other counties throughout California as well as Arizona.