Which companies are merging, and what professionals are moving? See some highlights in this update of the housing and mortgage industries.
Arch Mortgage Insurance Company and OpenClose announced 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 and OpenClose, are collaborating to offer Arch MI RateStar pricing information within the OpenClose LenderAssist loan origination system.
Charlotte based real estate law firm Brady & Kosofsky with a solution stack assembled by North State Bank, a Raleigh based bank completed the first ever full electronic eMortgage purchase. The buyer and seller were able to sign their deeds, financing documents, and closing disclosures electronically from 45 miles away, only taking 10 minutes. This is the second eClosing by North State Bank since May 5, the first one performed by Honoval Law Firm.
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. Holding the SRA and AI-RRS designations, Waltenbaugh has endured momentous changes throughout his career, from the first days of required appraisal licenses to the implementation of new rules from the Dodd Frank Act. Waltenbaugh says the industry is set for much more change.
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 Uniform Closing Data files are an integral part of the Uniform Mortgage Data Program, which will go into effect, September 25.
Safeguard Properties recently announced Jennifer Anspach, AVP of Human Capital, as HR Executive of the Year Finalist in the private companies category for Crain’s Cleveland Business’s 2017 Archer Awards, which recognizes those in Human Resources that have “hit the mark” and build companies with the best people, talent, development, and culture. Anspach has bettered Safeguard by implementing initiatives like work from home, part-time and flex schedules, casual dress code, wellness imitative, and career enhancement and tracking opportunities through goal development and training.