Technology

Wolters Kluwer Financial Services has launched its Web-based OneFile mortgage processing solution, allowing lenders to replace paper-based processes. The majority of lenders--76 percent--still rely on paper-based methods to process mortgages, according to a survey conducted by the technology firm. Wolters Kluwer says its OneFile platform is designed to improve productivity, lower costs, grow portfolios, and improve borrowers' customer experience.

RES.NET has announced functionality enhancements to its landmark real estate management system, AMP. The platform was developed to improve the administrative and operational efficiencies of real estate professionals. Now, AMP boasts additional features that the company says will further streamline its use and enhance value, including a new ""buyers"" portal, a utilities section to manage and monitor recurring expenses, and a mobile application to expedite work in the field.

Oklahoma City's a la mode recently announced that Veros Real Estate Solutions has integrated their VeroSELECT and Valuation Risk Management products with the company's Mercury Network vendor management platform. The integration connects Veros' platform clients with one of the industry's largest networks of real estate appraisers and appraisal management companies, and provides electronic appraisal submission in full compliance with the GSE's Uniform Mortgage Data Program (UMDP) requirements.

LendingTree has filed a lawsuit against the online real estate marketplace Zillow Inc. and three other competitors, which alleges the companies stole LendingTree's method for providing borrowers with a comparison shopping experience for home mortgage products. The North Carolina-based online lending exchange claims its four rivals all infringed on LendingTree's 2002- and 2003-patented formulas for competitively matching borrowers with lenders based upon a single loan application from the consumer.

The real estate auction house of Williams & Williams and Auction Network, an Internet television network for live auctions, issued a joint statement Wednesday announcing a merger of the two companies. The newly created parent company, WWM (Williams, Williams & McKissick) Holdings, LLC, is based in Tulsa, Oklahoma, and will remain under private ownership.

Field Asset Services (FAS) recently launched Collateral Command, a solution for property management services and support that offers lenders and servicers a single source for managing foreclosed and REO properties. Included within the Collateral Command suite is Utilities Management Service, which allows banks, servicers, and lenders to leverage FAS and its industry relationships to streamline the day-to-day tasks of managing the utilities process and payments.

Fiserv, Inc. said Wednesday that it has rebranded its Loan Servicing Platform with the name LoanServ. As a single-platform, real-time solution, LoanServ combines mortgage loans, consumer loans, indirect financing, home equity loans and lines of credit, and distressed loan functionality into one core system so that all of a borrower's retail loan relationships can be supported through one system. Fiserv says this complete picture of a customer's credit capacity is crucial for mitigating risk.

Five Brothers, a provider of commercial and residential mortgage default management solutions, recently released its DocPRO Document Delivery Solution, which the company says speeds and simplifies the preparation, delivery, notarization, and tracking of mortgage documents. The company's CEO explained that the new technology saves clients both time and money with minimal effort on the client's part.

Equator announced Wednesday that it has completed implementations of its PRO REO Workstation with several middle-market firms: Kingdom First Properties, Metro Brokers Inc., Pacifica Companies, and Lifeway Capital. Equator rolled out the new PRO REO solution in March, which allows outsourcers and smaller servicers to immediately transact with over 730,000 agents and 21,600 vendors electronically to manage, market, and sell their REO properties.

The Office of the Wayne County Treasurer in Michigan will conduct its first Internet auction of more than 13,000 tax foreclosed properties September 17-23. Bid4Assets.com will perform the online auction. The auctioned properties represent a 44 percent increase over the number of properties seized by the county in 2009, making it the largest auction ever for Wayne County.