Technology

Southfield, Michigan’s Woodward Asset Capital, LLC has announced the launch of OfferSubmission.com, a proprietary web-based software program that allows mortgage asset owners to control the REO disposition process, while providing transparency for real estate agents and institutional sellers.

The May 1 deadline for the new Home Valuation Code of Conduct (HVCC) is rapidly approaching. Beginning Friday, Fannie Mae and Freddie Mac will refuse to purchase mortgages that do not comply with the HVCC regulations for property appraisals.

On Tuesday, RealtyTrac announced a strategic alliance with global real estate portal Enormo that will give Enormo’s international user base of potential homebuyers and investors unique access to RealtyTrac’s database of U.

Financial institutions face a number of regulatory changes in the coming months, some of the most notable of which are revisions to the Real Estate Settlement Procedures Act (RESPA). Under the RESPA changes that take effect on January 1, 2010, HUD will require lenders to use a new Good Faith Estimate (GFE) and revised HUD settlement statement documents when underwriting a mortgage.

Walnut Creek, California-based PMI Mortgage Insurance Co. has made its secure online mortgage insurance ordering system available to all lenders. Previously, only lenders with delegated authority to underwrite the mortgage insurance themselves benefited from the electronic ordering process.

Minneapolis-based Wolters Kluwer Financial Services announced on Thursday that it has enhanced the company’s suite of mortgage compliance documentation solutions to help financial institutions participate in the Treasury Department’s new Making Home Affordable program.

Coraopolis, Pennsylvania-based ServiceLink, a provider of origination and default services and the national mortgage services platform of Fidelity National Financial, has launched their Appraiser Panel Management (APM) product line.

Lake Forest, California-based Retreat Capital Management, Inc., a third-party arbitration services company that specializes in bringing loans back to performing status and keeping borrowers in their homes, announced on Wednesday that it is collaborating with software provider Ellie Mae to provide lenders with loan modification services.

Maryland-based Aspen Grove’s Aspen iAgent technology has been approved as the default REO solution for Keller Williams Realty agents across the United States. Aspen iAgent allows real estate agents to manage REO properties, from assignment through closing, via a secure, Web-hosted application.

The Virginia Legislature has passed House Bill 2150, which would allow lenders and servicers to register their foreclosed properties, for the purpose of property preservation tracking, with the Mortgage Electronic Registration System (MERS) instead of using individual municipal registration databases.