Tag Archives: Paperless Processing

Mortgage Cadence, LLC, a provider of enterprise lending solutions (ELS), default servicing technology, and document services for the financial services industry, will spin off its compliance, content, and document preparation division, Mortgage Cadence Finale, into a separate entity. The new standalone service provider will go by the name Finale Document Services and allows lenders and servicers to create modification and short sale packages, as well as other financial documents.

The Loan Post, Inc. has introduced a new do-it-yourself private label short sales system. ShortSales360 produces e-signature-ready documents for the federal Home Affordable Foreclosures Alternatives (HAFA) short sale initiative. It also calculates probable lender losses if a foreclosure is executed and the net investor benefit in a short sale transaction, so lenders and investors can determine if a short sale makes financial sense.

Title agencies utilizing the Stewart Title Electronic Policy System (STEPS) have produced more than 2 million policies, according to an announcement from Houston-based Stewart Title Guaranty Company. STEPS allows title agencies to create title policy jackets online. It eliminates having to finish policy logs manually and automatically assigns policy numbers, time-stamps the policy, and keeps track of each jacket.

Keller Williams Realty will launch what it calls ""the real estate industry's first complete lead-to-close business solution"" for every agent in the company. The first phase of the solution, eEdge, will officially launch at Keller Williams' annual convention next month. It will enable agents to funnel and maintain all their contacts, leads, and clients in one database, as well as develop and distribute marketing and sales materials and manage Web sites and listings -- all through a single system.

Michael Neumann, an independent real estate agent in the Chicago area, says he used to worry about the confidentiality of offers he would pass to prospective clients via email. But having recently employed the document management and signing process developed by DocuSign and secured with out-of-band authentication from Authentify, Neumann no longer worries about who might be picking up the proposals he sends electronically.

IndiSoft now supports electronic signatures with its RxOffice Document Management platform. The company says RxOffice increases the speed of default management processes by allowing users to execute documents without printing, signing, and scanning. The technology is compliant with federal and state handwritten digital signature regulations. The eSignature is bound as part of the document itself.

Blueberry Systems, LLC has announced the release of its Manifest Imaging System, which allows loan documents to be captured and indexed from any image format. Optical character recognition technology enables the system to capture text from such files as standard PDFs as well as document scanning devices, and provide flexibility for processing the diverse types of loan documents lenders must work with.

DocuTech Corp., a provider of compliance services for mortgage documents, has opened a new data center in Denver, Colorado. According to a statement from the Idaho-headquartered company, the data center signifies a conversion from physical servers to virtual machines (VM Ware) to improve business continuity and support continued growth, a move that was completed last month.

Wells Fargo, one of the nation's largest mortgage servicers, has agreed to use HOPE LoanPort's proprietary technology to partner with nonprofit housing counselors to assist homeowners with loan modifications. Wells is the 13th major servicer to sign onto the Web-based tool, which allows borrowers and counselors to streamline their submission of loan mod applications. HOPE LoanPort also has commitments from more than 1,600 housing counselors from almost 300 organizations across the country.

Wolters Kluwer Financial Services has launched its Web-based OneFile mortgage processing solution, allowing lenders to replace paper-based processes. The majority of lenders--76 percent--still rely on paper-based methods to process mortgages, according to a survey conducted by the technology firm. Wolters Kluwer says its OneFile platform is designed to improve productivity, lower costs, grow portfolios, and improve borrowers' customer experience.