Home / Daily Dose / Industry Pulse: Updates on Ginnie Mae, Hyland, and More
Print This Post Print This Post

Industry Pulse: Updates on Ginnie Mae, Hyland, and More

Industry

From new appointments and research to new technology and rule changes, get the latest buzz on the industry in this weekly update.

In a bid to further protect veterans from predatory lending, Ginnie Mae,  a government corporation that attracts global capital into the housing finance system to support homeownership for veterans and low- to moderate-income homeowners, recently issued an All Participants Memorandum (APM). The APM announced the implementation of changes to pooling eligibility requirements for Department of Veteran Affairs' (VA) insured or guaranteed mortgages under the "Loan Seasoning for Ginnie Mae Mortgage-Backed Securities," provision. These changes affect security issuances on or after June 1, 2018, but do not otherwise affect the guarantee or composition of MBS issued before that date. Under the APM, a refinance loan insured or guaranteed by the VA is eligible for the lender's securities only if the note date of the refinance loan must be on or after the date is 210 days after the date on which the first monthly payment was made on the mortgage being refinanced; or the date on which six full monthly payments have been made on the mortgage being refinanced.

__________________________________________________________________

Ohio-based content services provider for the financial services industry, Hyland, has announced the launch of Brainware for Lending, an intelligent capture solution that accurately captures and classifies loan documents and integrates with the line of business tools to validate extracted data and fill missing information before delivering data to loan origination systems. In a statement, Hyland said that by delivering greater transparency, lending institutions can process loans faster with fewer resources, and improve interactions with borrowers. As the lending industry becomes increasingly complex, banks, lenders and loan servicers experience higher demand from customers for fast lending experiences. At the same time, financial institutions have a greater focus on managing regulatory requirements, which increase per-loan costs and slow processing times. “Brainware intelligent capture is an advanced technology that will fundamentally shift the way financial institutions process and service loans,” said Steve Comer, Director of Financial Services Sales at Hyland. “As a template-free solution, Brainware for Lending gives financial institutions the power to improve the consistency and quality of loan information throughout the loan life cycle, while reducing the cost of validating data.”

__________________________________________________________________

Calyx Software, a San Jose, California-based provider of comprehensive mortgage software solutions for banks, credit unions, mortgage bankers, wholesale and correspondent lenders and brokers, has announced that David McLeod has joined the company as National Sales Manager. In this role, McLeod will lead the company’s sales team, as well as develop and implement effective sales strategies for Calyx’s product line, including its flagship loan origination system, Point/PointCentral. He will report to Bob Dougherty, Vice President of Business Development. “David’s extensive sales experience will be an asset to our team,” said Dougherty. “He has a proven track record of success and we are confident he will help us identify new opportunities that will strengthen our partnerships and make our clients more successful.”

__________________________________________________________________

technologyPlano, Texas-based mortgage technology provider, Pavaso, has partnered with OS National LLC (OSN), a nationally recognized provider of title and settlement services, to deliver a complete digital closing program. As a provider of residential and commercial title and settlement services, OSN provides a high-touch, high-tech service experience for every person in the real estate transaction through its national platform and network of retail outlets across the U.S.  “We are excited to partner with Pavaso as the title partner of choice for digital mortgage solutions,” Michelle Esparza, National Sales Executive, OS National said. “At OS National, we believe in providing the best possible service backed by proven technology that drives the title and mortgage industry forward. Partnering with Pavaso supports our core mission to remove paper from our processes and to deliver an exceptional customer experience that exceeds all expectations.” Pavaso's technology allows lenders and title companies to deliver a complete, transparent loan package to borrowers, allowing them to access the closing documents anywhere, on any device, prior to closing. Pavaso’s Digital Close platform is capable of producing hybrid closings (digital closings which meet state requirements that some documents be “wet signed”), as well as complete eNote and eVault transactions.

About Author: Radhika Ojha

Radhika Ojha, Online Editor at the Five Star Institute, is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Dallas, Texas. She can be reached at Radhika.Ojha@DSNews.com.
x

Check Also

Travis LaMar Joins Blue Water Financial Technologies, LLC

The company announced LaMar’s addition to its growing executive team as Managing Director, Head of Capital Markets.

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.