MRG Partners with Kroll: Tech Roundup
Dallas-based MRG Document Technologies announced Monday it had formed an alliance with business information solutions provider Kroll Factual Data. MRG, a mortgage technology service provider to banks, credit unions and other lenders, said the alliance will help its lenders identify fraudulent activity and implement the required identity theft prevention programs through MRG's MIRACLE Online service. The company said its lenders need not set up any additional service other than MIRACLE Online to start taking advantage of the benefits of the Kroll alliance. "Compliance with federal and state lending regulations is of utmost importance in today's mortgage industry, and lenders need technology partners who can help them meet the demands of the changing regulatory landscape," said MRG senior mortgage consultant Mike O'Leary. For more information, visit www.mrgdocs.com. Streamlined deposit compliance through Expere IE Minneapolis-based Wolters Kluwer Financial Services announced Wednesday the release of deposit compliance content within its Expere Integrated Enterprise (Expere IE) technology platform, which will now help financial institutions to document transactions related to mortgage and home equity loans. Expere IE can be integrated with other providers' technology platforms and will allow financial institutions to maintain one compliance document library as opposed to multiple libraries, said Wolters Kluwer's vice president and general manager of banking content, Lisa Fraga. “That means every time a regulatory compliance change occurs and documents need to be updated, Expere IE will allow the institution to do so much more quickly and cost-effectively,” Fraga said. “It also means they don’t have to invest the time and effort into creating a whole new document library every time they want to begin offering a new product or enter into a new market.” For more information, visit www.wolterskluwerfs.com. Property Fraud Prevention tracks real-time fraud Minneapolis-based Property Fraud Prevention LLC on March 12 announced the rolling out of its new PFP Reports software system, which allows lenders and title companies to track real-time activity by running reports that can reveal property fraud schemes occurring at any time in the loan process. The data gathered by the reports is stored in a secure database that subscribers can access without invading each others' databases. The reports potentially can reveal fraud schemes before fraudulent loans are funded; they can identify multiple companies processing separate loans on the same property, duplicate title orders, under-qualified or previously rejected buyers, a single property being sold to multiple buyers, buyers attempting to attain multiple loans and dramatic increases in appraised value. For more information, visit www.propertyfraudprevention.com. Foreclosed home auctioneer wins bid for domain name Irvine, Calif.-based REDC, the large real estate auctioneer, announced Wednesday the change of its consumer Web site for lender-foreclosed homes from www.USHomeAuction.com to www.Auction.com. The auctioneer said it had purchased the domain name Auction.com for $1.7 million. "I've wanted this domain for years and I'm thrilled that we were able to acquire this coveted top level domain," chairman Robert Friedman said. "This is a domain we should have had from the beginning...." For more information, visit www.Auction.com. Response Analytics simplifies modifications Scottsdale, Ariz.-based Repsonse Analytics Inc. announced Tuesday a new software that will simplify the administration of loan modifications required under the new Making Home Affordable plan unveiled March 4. The financial services optimization company said its software solution comes ready with all eligibility requirements and modification rules inherent in the plan and will help mortgage servicers and insurers streamline the required modifications. "This solution addresses the complexity inherent in the MHA program, providing the necessary speed and flexibility servicers and investors require," said CEO Brent Lippman. For more information, visit www.responseanalytics.com. Mortgage Cooperative adds administrative providers Lenders One Mortgage Cooperative on Tuesday touted the addition of two preferred venders to its network: Chase Paymentech and Sam Black Consulting Services. A business unit of JPMorgan Chase & Co. (JPM), Chase Paymentech will provide payment processing methods to Lenders One's 135 member lenders, while Sam Black Consulting will assist members with employee assessment tools, sales skills training and customer service training. For more information, visit www.lendersone.com. BlitzDocs makes FHA submissions one click away Xerox Mortgage Services announced last week its BlitzDocs Collaboration Suite now offers a "one-click" solution to mortgage lenders submitting closed loan packages to the Federal Housing Administration. The system will allow for "turning loans around faster and easier" through a secure online transmission system that will deliver electric loan documents directly to the Federal Housing Administration, Xerox Mortgage Services said. The company's e-Mortgage Suite also works in concert with the new system by offering a secure online mortgage loan completion service that eliminates the need for signed hard copies of loan documents. “Today, 30 to 40 percent of new loans are FHA loans,” said Greg Smith, vice president of Xerox Mortgage Services. “Xerox Mortgage Services’ new FHA connector builds on the promise of allowing BlitzDocs’ customers to remain paperless from origination through investor delivery." For more information, visit www.xerox-xms.com. MCS is government's property preservation provider of choice Tampa, Fla.-based Mortgage Contracting Services announced Thursday it had been awarded a contract with U.S. General Services Administration and will perform property preservation work for the government. The property preservation and inspection services provider said it would be a "labor-intensive" undertaking and is required to provide documentation supporting its "fiscal responsibility and capacity." "As the need for pre-foreclosure and REO property preservation continues to grow, MCS wants to be in a position to do as much work as possible to prevent neighborhood blight," said CEO Allan Martin. For more information, visit www.mcsnow.com. Write to Diana Golobay at email@example.com. Disclosure: The author held no relevant investment positions when this story was published. Indirect holdings may exist via mutual fund investments. HW reporters and writers follow a strict disclosure policy, the first in the mortgage trade.