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LPS' RealEC Surpasses 42M Orders, Announces HVCC-Compliance

Santa Ana, California's ""RealEC Technologies Inc."":http://www.realec.com, a provider of collaborative mortgage network solutions that is majority-owned by ""Lender Processing Services"":http://www.lpsvcs.com, today announced that it has surpassed a milestone of more than 42 million real estate orders processed through its network, since the company was founded in 1998. The RealEC Collaborative Partner Network currently processes more than 880,000 orders, 3.6 million documents, and 10 million unique loan fulfillment events per month.
In addition, the company announced it has recently signed five new major lender clients, including ""AmTrust Bank"":http://www.amtrust.com/ and ""Flagstar Bank"":http://www.flagstar.com/, that will use its appraisal management solution, which is fully compliant with the GSEs' Home Valuation Code of Conduct (HVCC). RealEC said that its appraisal management solution can help lenders ensure readiness for the May 1, 2009, effective date for HVCC compliance.
RealEC's appraisal management solution provides lenders with data connections to all national appraisal firms, appraisal software packages, quality control processes, and access to thousands of independent appraisers. According to RealEC, one thing that sets its appraisal suite apart from other solutions in the marketplace is that it is optimized to allow lenders to effectively manage appraisal management companies.
A new user of the system, Marni Scott, SVP at Flagstar, said, ""RealEC's HVCC-compliant appraisal management suite has allowed Flagstar Bank to quickly take the necessary steps to meet the requirements of the HVCC. We believe our selection of RealEC also positions our business well to make any needed adjustments as the market continues to evolve.""
Dan Sogorka, president of RealEC Technologies, added, ""We believe our appraisal management clients are well positioned to ensure total compliance with the Home Valuation Code of Conduct and to further streamline their lending processes. We are excited about these new partnerships and the opportunity to assist our clients in reacting quickly and successfully to the rapidly changing banking industry.""
RealEC Technologies provides supply-chain-management software, integration services, intelligent product-decision tools, and vendor-sourcing tools. The company's B2B exchange enables mortgage loan originators, real estate agents, settlement service providers, and other transaction participants to electronically connect, collaborate, and automate business processes to eliminate paper, manual processing and other sources of friction in the fulfillment of mortgage loans.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.
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