Motivity Solutions Debuts FHA Automation Software

Motivity Solutions, a software developer that provides a business management platform for mortgage bankers, introduced a new safety net system for lenders at the MBA Government Housing and Loan Production Conference in Washington DC Wednesday. The new software, Movation FHA Safeguard, is the latest in a string of fixtures to the Movation Business Platform, a web-based installation that sits on top of a lender’s existing software and automates the closing process. Motivity spent three months developing the Safeguard package.  The program patrols the post-closing process catching any oversights within a lender’s system.  The loan is then checked against the Federal Housing Administration’s database for any blacklisted mortgage industry players.  The software can also check mortgage insurance factors on a loan. “It’s a way to automate the post-closing aspects of an FHA loan,” said Tyler Sherman, CEO of Motivity Solutions.  “Right now, it would save up to thirty minutes on what was the manual loan process.” Since unveiling Safeguard, two FHA lending firms have run pilots of the automated system: Franklin American and Assurity Financial. “The response has been overwhelming,” Sherman said.  “There have not been a lot of problems.  Right now, we’re just adding functionality to it.” In 2006, Watermark Financial Partners, a top ten FHA lender, launched Motivity Solutions with the development of its Movation Business Platform. Next month, Motivity plans to release an electronic file delivery system.  Before, FHA lenders would have to overnight paper-case binders as part of the manual loan process. Write to Jon Prior.

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