The latest technological innovations in real estate finance will help improve loan program searches, decrease mortgage fraud and increase credit scores.
SearchMyLoan.com issued a press release two days ago indicating its loan pricing and search engine has been enhanced to include product enhancement alerts, lender status and messaging. In addition, the search criteria summary has been improved, a preferred lender section has been added and users are now periodically prompted to save their searches.
SearchMyLoan said it helps originators identify Alt-A, FHA and subprime programs.
Drexel Lending Group and MSM Lender, both based in California, have signed on to utilize PriceMyLoan’s automated underwriting and loan pricing technology, a press release Wednesday said. Costa Mesa, Calif.-based PriceMyLoan claims it helps improve loan closing ratios.
Score Optimization System interprets prospective borrowers’ credit files, identifies factors that impact their credit scores and determines how to best increase their credit ratings, i3Solutions.net claimed in an announcement this week. The service is an online management system with ongoing access available for consumers who are tracking their progress.
Data from the Mortgage Electronic Registration Systems Inc. has been integrated into FraudGUARD to help prevent “shotgunning,” Interthinx Inc. announced this week. The enhancement will help detect undisclosed properties, reveal false claims of owner occupancy and uncover recently closed loans that could indicate a borrower’s intent to commit mortgage fraud.
The release of IDVerify 2.0 Tuesday will help lenders increase loan-processing productivity while reducing potential mortgage fraud and unnecessary verification costs, DataVerify reported.
“Based on a comprehensive aggregation of relevant and proprietary information coupled with an advanced matching analytical engine, IDVerify can quickly identify legitimate users, reduce false positives, minimize costly queries to the Social Security Administration, and ensure compliance with Red Flag Rules,” DataVerify said.
BytePro has been enhanced to enable settlement services to be ordered directly from the loan origination software, Byte Software said Wednesday. The system uses standardized MISMO transactions.
FNC Inc. is claiming “the largest financial institution founded, owned and headquartered in the Washington-Baltimore metropolitan area” as a new customer, a statement Thursday said. FNC said it will help the bank to streamline its multi-channel appraisal process at the wholesale, retail, and servicing levels.
PropertyDocs.com has been launched to provide online access to publicly recorded documents and records, Advanced Background Check Inc. announced yesterday. Available records include data about current owners, mortgage assignments and releases, bankruptcies, liens and litigation records.
All American Title touted its first electronic recording in Hillsborough County, Texas, a press release Tuesday said. The company used Landata Technology Inc. to process the transaction.
