Residential Briefs

MBA (3/21/2008 ) MBA Staff
Clinton Calls for ‘Second Stimulus Package’ on Housing
Sen. Hillary Clinton, D-N.Y., a candidate for the Democratic nomination for president, called for a “second economic stimulus” plan that would focus on assistance to at-risk communities and borrowers facing foreclosure.
The proposed package would include a $30 billion emergency housing fund and extension of the Mortgage Revenue Bond program by $10 billion. She also called on Congress to consider temporary measures to help workers, such as extending unemployment insurance.

Interthinx Releases New Fraud Training Film
Interthinx Inc., Agoura Hills, Calif., a provider of risk mitigation, mortgage fraud prevention and regulatory compliance tools for the mortgage industry, announced availability of its latest a fraud-detection training film, Fraud Angels.

The film premiered this month at the Mortgage Bankers Association’s National Fraud Issues Conference in Chicago. The training film at no cost to mortgage industry professionals. The two-disc DVD set contains a 35-minute film that parodies a popular TV series and a disc containing 26 training chapters covering “red flags” in the story, emerging mortgage fraud schemes and the latest technology to combat the crimes.

DocuLex Updates Archive Studio 4 Document Management Software
DocuLex, Winter Haven, Fla., creators of electronic document management software, announces its Archive Studio 4 update. Goby Capture Profiler and Monitor components provide automated, networked paper and electronic document capture (in any file format, including email with attachments), with organization, workflow-enabling and ongoing management capabilities.

The new Goby Query utility provides content export to Profiler from Oracle and SQL databases. XML to PDF conversion is also enabled.

Commonwealth Bank & Trust Co. Selects Optimal Blue
Optimal Blue, Plano, Texas, developer of a Web-based platform that couples decisioning technology with content management for the mortgage industry, announced that Louisville, Ky.-based Commonwealth Bank & Trust Co. implemented Optimal Blue’s product eligibility and pricing engine (PPE) technology.

Prior to Optimal Blue, Commonwealth was using a proprietary price modeling system generated by the bank’s internal IT staff. Optimal Blue’s technology gives lenders the ability to automate management and distribution of products and pricing, enabling originators to then source, manage, price and lock loans.