Technology

Paradatec, Inc., based in Cincinnati, Ohio, announced Thursday its WriteUCD module has been verified as a technology integration vendor for Freddie Mac’s Loan Advisor platform as it satisfies the requirements of the GSE’s Uniform Closing Data files. A provider of optical character recognition solutions, Paradatec’s WriteUCD takes data from mortgage closing disclosure documents “in mere seconds per page” and then transfers it to the new required format. In fact, Paradatec claims to provide “quick and accurate identification of over 500 unique documents in the typical mortgage file,” and it is adapting to new industry standards.

The move to the digital world is quickly becoming a priority item for the mortgage finance industry, and machine learning can play an important role in helping servicers and lenders stay current with regulatory standards and compliance.

Arch Mortgage Insurance Company and OpenClose announce Monday an integration aimed at providing “more competitive, sophisticated and dynamic MI pricing solution than conventional rate sheets,” according to Chris Hovey EVP and COO at Arch MI. Arch MI, the flagship private mortgage insurance provider of Greensboro, North Carolina-based Arch Capital Group, and West Palm Beach, Florida-based OpenClose, are collaborating to offer Arch MI RateStar pricing information within the OpenClose LenderAssist loan origination system.

Clarocity Corporation, based in Carlsbad, California, announced Monday that Bill Waltenbaugh is taking on the role of Chief Appraiser at Clarocity Valuation Services. Waltenbaugh brings 30 years of real estate industry experience to his new role, including past experience as a Chief Appraiser and Director of Compliance at several appraisal management firms. “Bill Waltenbaugh is a nationally recognized appraiser, with vast experience in ensuring exceptional appraisal quality and compliance,” said Aleksandra James, President of Clarocity Valuation Services.

Altisource Portfolio Solutions S.A., an integrated service provider and marketplace for the real estate and mortgage industries, has announced the appointment of a new leader for a recently developed role, which was created to provide greater advancements to the digital ...

Independent Settlement Services, a Pittsburgh-based appraisal and title management services firm serving the real estate finance industry, announced last week it will enhance its valuation products with Value Report, an automated property valuation with an instant automated valuation model (AVM) that combines the data and algorithms of Independent Settlement Services and HouseCanary. HouseCanary is a real estate valuation provider that leverages decades of data and proprietary algorithms for its valuations. The Value Report offers instant AVMs, risk assessments, and real estate market data for individual single-family homes and condos, as well as portfolios.

ClosingCorp, recently announced that Springboard Home Loans, a not-for-profit mortgage lender working to expand homeownership, has begun using its SmartFees solution, an automated fee solution that delivers real-time closing cost data from more than 20,000 individual service providers.

International Document Services, Inc. (IDS), a mortgage document preparation vendor, announced recently the promotion of former Manager of Development Beckie Santos to the newly created position of Manager of New Product Development.

DataVerify recently announced that they now offer an automated process that populates required data elements for submission of 4506-T IRS tax transcript information to the Fannie Mae Day 1 Certainty data validation service through the Ellie Mae’s Encompass all-in-one mortgage management solution and Total Quality Loan program

Lenders often consider their loan origination system to be the “single source of truth.” They presume the LOS knows all—but is that really the case?