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The Industry Pulse: Updates on Consolidated Analytics, First American, and More

From key hires to new technologies and features, catch the latest happenings in the industry in this update.

Consolidated Analytics, the California-based provider of mortgage services has announced the appointment of industry veteran Tony Meola to its Board of Directors.

Meola is a nationally recognized leader with more three decades of mortgage industry experience and significant c-suite executive experience at top-tier financial institutions. Recently retired, Meola last served as the enterprise shared services executive at Bank of America where he led banking operation strategies across high-risk functions including global payments, deposit and cards, and enterprise regulatory and operational oversight.

“Tony has an extraordinary mortgage and finance background and we are thrilled to welcome him to the board,” said Arvin Wijay, CEO of Consolidated Analytics. “Tony’s c-suite executive experience combined with his extensive knowledge and expertise in complex mortgage banking operations will be incredibly valuable as Consolidated Analytics continues to expand its services platform.”

In a prior role at Bank of America, Meola was a U.S. consumer banking executive, where he restructured the company’s mortgage and specialty servicing operations. In earlier roles, he was CEO and COO at Morgan Stanley and served in a wide range of senior leadership positions, including EVP at New Century Financial Corp., Washington Mutual, and PNC Mortgage.

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California-based First American Mortgage Solutions, LLC, part of the First American family of companies, announced the launch of its RegsData Compliance Suite, a comprehensive and flexible loan-level solution for managing compliance risk earlier in the mortgage application, increasing efficiency, while reducing risk and costs.

Built for mortgage lenders and servicers, investors, auditors, due diligence and quality control providers, RegsData Compliance Suite delivers bundled compliance reports or individual tests as application program interfaces (APIs) for easy integration at any point along the loan lifecycle.

“RegsData Suite is flexible and can be customized to fit the varied needs of our customers, including how it is consumed, the features it offers and its ability to manage workflow. Our extensive critical regulatory tests, which are independently certified by outside legal counsel at state and local levels, empower our customers to manage compliance risk with confidence,” said Kevin Wall, President of First American Mortgage Solutions.

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WFG Lender Services, in conjunction with its affiliated title insurance underwriter, WFG National Title Insurance Company (WFG), a Portland-based provider of title insurance and real estate settlement servicesannounces DecisionPoint, a new product that can process title requests within seconds by simply using the borrower's name and the property address.

DecisionPoint uses a proprietary algorithm that delivers a full, detailed title report within five seconds, alerting lenders whether the title is "clean," meaning a title insurance loan policy can be issued, or whether curative measures are necessary before a title insurance policy can be issued. As a result, lenders using DecisionPoint can better manage their loan pipeline by accelerating the processing of loans with clear title and closing faster, while also shifting more personnel and resources to cure problem loans.

"By making sure a loan is good to go as early as possible, DecisionPoint allows lenders to jumpstart their underwriting process," said Matt Slonaker, SVP and head of enterprise solutions sales at WFG Lender Services. "It makes the title process more efficient and saves more loans."

About Author: Seth Welborn

Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer.
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