Technology

Zone Data Systems, with 233 member appraisal companies in 25 states that employ more than 500 appraisers, recently announced that it has joined forces with Bradford Technologies, Inc., in order to provide clients with the new Collateral Valuation Report (CVR). The company says the CVR is an innovative, Uniform Standards of Professional Appraisal Practice-compliant appraisal product that incorporates regression analysis performed by the appraiser to support the value conclusion.

In an effort to help lenders identify undisclosed debt during the underwriting process and stay in compliance with Fannie Mae's updated policy regarding borrower liabilities, Equifax Inc. has launched a new mortgage solution--Undisclosed Debt Monitoring. According to the company, this new tool is the mortgage industry's first platform to monitor for and notify financial institutions of new accounts and borrower activity initiated during the ""quiet period,"" which spans from the mortgage application date to the loan closing date - a historical blind spot for lenders.

Bank of America has become the largest mortgage servicer to join HOPE LoanPort, the new Web-based housing counselor tool that streamlines submission of completed loan modification applications. As part of its participation agreement, the bank has committed to use HOPE LoanPort's proprietary technology to partner with nonprofit housing counselors to assist homeowners with loan modifications. Larry Gilmore, CEO of HOPE LoanPort, said this is a significant development in the evolution of HOPE LoanPort, with far reaching implications.

Mortgage Cadence, Inc. has been selected by Carnegie Mortgage LLC to replace the company's mortgage lending and document management technology platform. Carnegie originates approximately $200 million in mortgages per month via its retail and wholesale operations, and turned to Mortgage Cadence to provide enterprise-level technology with the flexibility and scalability to accommodate both channels, as well as the company's national footprint.

Interthinx announced Tuesday that it has formed a working relationship with Ellie Mae that includes the integration of the Interthinx PredProtect Compliance Suite into the Ellie Mae Network. The company says this integration provides lenders with the ability to verify that their loans are in compliance with hundreds of federal and state anti-predatory lending requirements.

In an effort to support mortgage servicers' need for a strategic, comprehensive short sale offering, LenderLive Network Inc., a Denver-based provider of business process outsourcing and technology to the financial industry, has expanded its loss mitigation initiative to include the launch of LenderLive Default Solutions. This new short sale offering is powered through two strategic partnerships: One with the technology-based real estate and loan disposition company ClearMarkets LLC, and another with Keller Williams Global Property Solutions LLC through its KW Commercial Division.

Point2 Technologies Inc., an inventory management and marketing software developer for the real estate industry, recently announced that board member Walter T. Baczkowski Jr. will join Point2's executive management team as chief sales officer and VP of industry relations for the company's real estate business, effective June 1, 2010.

HOPE LoanPort's roster of participants seems to be ever-growing. Consumer Credit Counseling Services of Delaware Valley, with 19 offices in the Philadelphia metro area, is the latest to join the more than 200 counseling agencies and 10 major servicers already committed to the new Web portal.

Global DMS, a Lansdale, Pennsylvania-based provider of appraisal process management solutions, recently released MARS SME, the secondary market edition of its MARS MISMO Appraisal Review System technology. The company said this new sytem offers investors and asset managers a fast and easy way to value entire loan pools, all automatically within just a few minutes.

Minneapolis-based Wolters Kluwer Financial Services and Columbia, South Carolina-based Avista Solutions have formed a new partnership, under which the companies have integrated Wolters Kluwer Financial Services' Expere Integrated Enterprise (Expere IE) solution with the Avista Agile Loan Origination System. As a result of this integration, Avista Agile users will now have automatic and seamless electronic access to Wolters Kluwer Financial Services' VMP Mortgage Solutions compliance documents and disclosures through Expere IE.