REOTrans makes the leap: Well-known REO industry tech provider REOTrans is making the big leap into loss mitigation process automation, according to a company statement. The Los Angeles-based provider of a heavily-used REO management platform — currently used by 16 of the nation’s 25 largest servicing shops — said last week it had launched a Short Payoff module, or SPO. The new module is the first loss mitigation application to pull data from the REO side of the business to inform loss mitigation decision making, based on HW’s review of information made available by the company. “Given the current state of default, lenders are receiving many requests to consider short payoffs,” said CEO Chris Saitta. “Lenders need data to make good decisions on whether to accept or reject a request for short sale. REOTrans has an immense amount of comparable data to facilitate their decision.” The REOTrans platform has managed the sale of more than $31 billion in REO properties, company officials said. The SPO module not only performs AVM calculations based off the company’s own property database, but estimates loss based on existing REO sales histories. It also allows for the selection of a local real estate agent as well to manage the sale once the borrower makes a request; the REOTrans platform maintains an agent marketplace with over 345,000 real estate agents. (www.reotrans.com) Fiserv puts Case-Shiller to work: While Standard & Poor’s gets the press ink over the S&P/Case-Shiller home price indices put out each month, the horsepower behind those indices is provided by Brookfield, Wisc.-based Fiserv Inc. On Tuesday, the company said it was putting that horsepower to work in its own CASA automated property valuation model, while also partnering with Moody’s Economy.com to pull hundreds of macroeconomic variables into the AVM platform. The agreement with Moody’s was characterized as “exclusive” by the company, in a press statement. “The steps we announce today will further harness the power of Fiserv’s Case-Shiller Home Price Indexes,” said Walter Morgan, executive vice president, Fiserv Lending Solutions. “As steward of the most respected and accurate measure of home price trends, we are continually seeking to provide additional insights, tools and information that will help mortgage lenders and other market participants make informed decisions about lending and managing their risk.” (www.fiserv.com) PriceMyLoan parters up: Costa Mesa, Calif.-based PriceMyLoan said last week that it had partnered with industry consulting firm Mortgage Banking Solutions, in a relationship that will see the product & pricing tech provider utlized in consulting engagements by the Austin, Tex.-based firm. Mortgage Banking Solutions helps clients streamline and optimize business operations and process. “Lenders need to do more than just cut back on their expenses,” said Andrew J. Schell, managing partner at Mortgage Banking Solutions. “To survive in this lower margin world, lenders must find ways to optimize their operations and adapt to achieve sustainable profitability by fundamentally changing the way they do business.” “A product and pricing engine must demonstrate that they can price loans accurately,” Schell said, in explaining the new partnership. “Because of PriceMyLoan’s ability to combine live credit, product and pricing data, there is a high confidence in accurate product selection.” (www.pricemyloan.com, www.mortgagebankingsolutions.com) Encomia sees adoption of eDisclosures: Houston-based Encomia said last week that Shawnee Mission, Kan.-based Nations Signature Closers, Inc., a real estate notary and attorney signature signing company and provider of property information services to national and regional mortgage and title insurance companies, now utilizes Encomia eDisclosures. NSC will use Encomia’s eDisclosures to provide its lender customers and their borrowers with the capability to electronically sign disclosure documents online for tens of thousands of loan files per month. “By giving our clients the ability to sign documents electronically, we provide them with a technological advantage over their competition that has yet to adopt electronic mortgage technology,” said Lance Lopez, vice president at NSC. (www.encomia.com) Editor’s note: Tech Roundup usually runs each Monday morning, and offers a look at key tech news and trends from throughout the week. (This week’s column was late due to vacation and holiday.) To have your company’s news considered for inclusion here, send an email with your press statement to [email protected].