Tech Roundup: Partnership Brings ForeclosureRadar to California Realtors
The Real Estate Business Services Inc. announced last week announced a partnership with ForeclosureRadar, through which all California Association of Realtors (CAR) members may receive the online foreclosure-tracking software at a discounted rate. Discovery Bay, Calif.-based ForeclosureRadar provides professional investors with accurate, timely, up-to-date information on the foreclosure market. “With foreclosures in some counties representing approximately 50 percent of the listings, ForeclosureRadar is an invaluable tool to help Realtors thrive in the current marketplace,” said chairwoman Liz Fitzgerald. www.car.org Compliance tools aim to help lenders at closing McLean, Va.-based Mortgage Banking Systems Inc. announced last week the addition of ComplianceAnalyzer to its ProClose Platinum loan closing platform, ensuring any loan in ProClose Platinum now faces scrutiny for strict regulatory compliance. With the addition of ComplianceAnalyzer, the platform now delivers "maximum lender protection" by connecting seamlessly with industry compliance analysis technology. "Non-compliance with federal, state or local 'high-cost,' anti-predatory lending laws, state regulations and investor compliance guidelines are the most common reasons for repurchase requests," said Christine Kirby, president of Mortgage Banking Systems. www.proclose.com Loss mitigator adds staff to manage modifications Foothill Ranch, Calif.-based National Loan Resolution Services, Inc. (NLRS) announced last week it had added personnel to assist with an influx of loss mitigation services it provides to lenders, servicers and private investors. NLRS specializes in loan modification, a form of loss mitigation through which the terms of the mortgage are modified to increase affordability for the homeowner, ensuring the lender receives a return on his or her investment. "We feel that in today's housing crisis, that loss mitigation is the best solution for the lender and the homeowner," said Mahnaz Lakelieh, a new member of NLRS' management team. "Foreclosures are ... costly events that destroy real estate values because of the fire sales associated with them." www.nlrservice.com eLynx updates platform to provide increased lender control Cincinnati, Ohio-based eLynx last week announced updates to its expedite platform, which provides loan processing and documentation management capabilities in a streamlined, electronic process. The portfolio company out of American Capital Ltd. (ACAS) announced the enhancements are built into electronic loan folders that allow lenders to more precisely control over the process workflow. “One of the outcomes of the financial crisis is increased focus on reducing costs and improving efficiency,” said president and CEO Sharon Matthews. “This requires lenders to take better control of their processes and to increase workflow automation. These enhancements to expedite will make it possible for lenders to accomplish that.” www.elynx.com Write to Diana Golobay at firstname.lastname@example.org. 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.