FinTechMortgageReal Estate

Mortgage Tech Rundown: Optimal Blue, FundingShield, Finastra and more

The latest in mortgage and real estate technology

Optimal Blue, a provider of secondary marketing automation and services for the mortgage industry, announced it has expanded its support for Non-QM and Expanded Guidelines products.

Earlier this year, the company made an investment to further its support after observing significant demand. Currently, Optimal Blue’s Expanded Guidelines monthly lock volume exceeds $1 billion, which is threshold 2.5 times the volume experienced 18 months prior.

 “We are proud to offer enhanced Expanded Guidelines support to our clients,” explained Tiffany McGarry, director of client services at Optimal Blue. “These market-leading capabilities further exemplify our continued focus on delivering unique secondary marketing solutions that help our clients differentiate and grow.”

 

FormFree announced a partnership with FundingShield to deliver enhanced wire fraud protection to FormFree’s Network of Mortgage Lenders.

“FundingShield creates a more secure closing experience for all parties involved in a loan, from the borrower to the investor and all the service providers in-between,” said Ike Suri, chairman and CEO of FundingShield. “By partnering with FormFree, we’ll be able to put that protection directly in the hands of mortgage lenders, loan officers and applicants, reducing their risk of lost funds and delayed closings due to fraud.”

The company will now integrate FundingShield’s Wire Account Verification Service into its Passport solution, providing its mortgage lenders heightened fraud protection.

“Passport by FormFree is the secure, digital version of a consumer’s financial ID that contains everything creditors need to know about a loan applicant,” FormFree Founder and CEO Brent Chandler said. “Our alliance with FundingShield, which gives Passport users access to industry-leading wire fraud protection, is a perfect fit for FormFree’s focus on making lending more secure and transparent.”

 

Allied Payment Network, a provider of online and mobile bill payment services, partnered with Finastra to bring developers a real-time digital bill payment solution.

“Many of today’s consumers will choose a bank based on the depth of its digital capabilities or, conversely, leave one that is falling short,” said Ralph, Marcuccilli, founder and chief executive officer, Allied Payment Network. “Banks that offer customers real-time bill payment set themselves apart as digital leaders, building engagement that is vital to longevity in this highly competitive marketplace.”

Allied’s solution, Pay Now, was developed in collaboration with Finastra using the FusionFabric.cloud platform, which allows developers to send technology directly to financial institutions. With a single click, users can send funds from within a bank or credit union’s app or website, according to the company.

“The FusionFabric.cloud platform makes it possible for Finastra clients to be among the first to experience this industry-first Pay Now feature,” said Allied Payment Chief Technology Officer Leo D’Angelo. “We wholeheartedly embrace the concept of Open Banking and its power to revolutionize the rate of innovation for community banking clients.”

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