Tech Roundup: Calyx Updates Point for RESPA Rule

By: DIANA GOLOBAY
January 19, 2009 9:00 AM CST

(Update 1 reflects Calyx’s application update as complying with RESPA, not HVCC.)

Calyx Software, a provider of loan marketing, originating and processing software, announced last week the updated Point 6.2b application, which features a compliance update in accordance with the final Real Estate Settlement Procedures Act including a Department of Housing and Urban Development-modified Regulation X and an updated Servicing Disclosure statement. The update may be downloaded on any version 6.2 or 6.2a on a user’s computer. “As the mortgage industry’s rules and regulations become more strict and require greater compliance, we are dedicated to supporting the changes and providing Point users with the tools necessary to abide by them,” said product management group manager Ted Hicks. www.calyxsupport.com

Partnership brings streamlined technology services to Commerce Bank
Fiserv Inc., a provider of information technology services to the financial industry, announced last week that Commerce Bank/Harrisburg, a subsidiary of Pennsylvania Commerce Bancorp Inc., had chosen to partner with Fiserv to “modernize and transform” its core banking business. “Our challenge was to identify a partner that could provide a complete solution — from core system hosting to item processing, from electronic banking to data warehousing — with a conversion process that enables us to uphold our renowned level of customer service,” said Gary Nalbandian, chairman, president and CEO of Commerce Bank/Harrisburg. www.fiserv.com

Partnership brings automatic info updates to United Residential brokers
Loan-Score Decisioning Systems, a provider of pricing and automated underwriting solutions, announced last week that it had completed a partnership with United Residential Lending, a national mortgage banker, making its integrated product and pricing engine, automated underwriting system and broker portal available to United Residential. “Loan-Score’s solution allows our customers to visit our new broker portal, run product and pricing scenarios, upload a 1003, pull or re-pull credit, return a decision and receive immediate automated underwriting approvals while at the point-of-sale,” said Shane O’Dell, senior vice president at United Residential. “The integration automatically updates our brokers’ pipelines with loan details and condition status as the back office makes changes.” www.loan-score.com

ComplianceEase heads to risk analysis and mitigation service
Digital Risk, the San Francisco-based provider of risk analysis and mitigation services, announced last week the addition of ComplianceAnalyzer, ComplianceEase’s automated compliance system, to its risk mitigation platform RiskIQ, allowing Digital Risk and its clients to have real-time access to loan-level compliance risk analysis for all federal, state, and municipal consumer credit and high-cost laws and regulations based on lending license type. “The addition of ComplianceAnalyzer to the enhanced advisory services offering combines Digital Risk’s core competency in the due diligence and forensic loan review area with ComplianceEase’s comprehensive automated compliance tool, and offers the most compelling best-of-breed solution available in the marketplace,” said COO Alex Santos. www.digitalrisk.com

Partnership makes loan origination software available in 25 states
Southfield, Mich.-based Mortgage Builder Software announced last week it had completed a partnership with Georgia-based AME Financial Corp. that will provide the Mortgage Builder platform of loan origination software to the wholesale lender’s operations in 25 states nationwide. “We were looking for an end-to-end solution,” said AME vice president Wayne Bonertz. “Mortgage Builder’s built-in secondary marketing reporting was critical for us and the included compliant document engine saved us the additional cost of drawing docs from a third-party provider on every loan.” www.MortgageBuilder.com

Loan processing application aims to make origination a breeze
Sthenia Solutions announced last week the partnership of its LoanMarq software with Knoxville-Tenn.-based Mortgage Solutions. LoanMarq is a Web-based loan processing and customer service application that enables collaboration among parties involved in mortgage loan transactions by streamlining and automating the loan process. Mortgage Solutions president Marvin Peek reported the company had used LoanMarq to close a loan in a matter of days. “In a case like that, everything has to happen perfectly,” Peek said. “[LoanMarq] is like getting into a Ferrari. It quickly gets me to realtors, buyers and sellers. It reaches everybody.” www.sthenia.com

Modification leads built into LeadPoint
Los Angeles, Calif.-based LeadPoint announced last week it had introduced loan modification products into its online leads exchange trading marketplace. The modification leads input into the system are sourced from regional and local television and radio marketing campaigns and are available in both voice — transcripts of homeowner-initiated calls made in response to marketing ads — and data formats. “Offering loan modification leads is a natural fit for our marketplace given our leadership position in both mortgage and debt,” said LeadPoint CEO Marc Diana. www.leadpoint.com

Reeal Investment announces modification resource center
Real Investment Strategies announced last week it had launched QualityLoanMod.com, an online loan modification resource that helps struggling homeowners by restructuring and negotiating loan payment solutions, by lowering interest rates or principals, increasing loan terms or adding in missed payments to the loan balance. The online portal connects struggling borrowers with a team consisting of an attorney, private lender and real estate broker, loan originator and a staff of qualified processors.

“The current downturned real estate market, coupled with unemployment and trouble on Wall Street, has been a catalyst for skyrocketing foreclosure rates,” said found Sean Goodwin. “Our mission is to assist homeowners in lowering their mortgage payments, while making it possible for banks to avoid costly foreclosure situations.” www.QualityLoanMod.com

Write to Diana Golobay at diana.golobay@housingwire.com.