Residential Briefs

MBA (8/22/2008 ) MBA Staff
HUD to Host L.A. Affordable Housing Summit
HUD will host the Western Regional Housing Summit beginning this Monday, Aug. 25 at the Sheraton Universal Hotel in Los Angeles.
Housing experts and public officials from California, Nevada, Arizona and Hawaii will discuss the future of affordable housing. HUD officials will moderate sessions and deliver keynote addresses.

The summit will also focus on the impact of foreclosures on communities; the growing trend of building green and overcoming the public 'fear factor' to developing housing that is affordable for working families.

Lenders One Teams Up with Web.com
Lenders One Mortgage Cooperative, St. Louis, a national alliance of mortgage bankers, announced that it has partnered with Web.com, a company specializing in online marketing services for small and medium-sized businesses, to provide Lenders One members with web site design, local search marketing and search engine services.


Other Web.com services offered through the program include e-mail marketing, banner advertising, paid inclusion (immediate and guaranteed placement in search results) and search engine submission (direct and continuous submission of a company’s Web address to all major search engines).

Ellie Mae Adds CoreLogic Property Data Service
Ellie Mae, Pleasanton, Calif., a provider of software and services for the mortgage industry, partnered with First American CoreLogic, a member of the First American Corp., Santa Ana, Calif., a provider of residential mortgage data and analytics for the mortgage industry and Wall Street, to use Property Pak, a service that allows appraisers to obtain data online.

Ellie Mae’s Encompass Appraisal Center is a free online service that enables appraisers to receive electronic appraisal orders from loan originators. With Property Pak, appraisers can retrieve those orders and simultaneously receive up-to-date property information, including a property detail report, a transaction history report, sales comparable report, street and aerial maps, parcel map and a flood map. Appraisers can purchase the Property Pak as either a single report package or on a monthly subscription basis.

iMortgage Services Announces Tier3 Collateral Report
iMortgage Services LLC, Pittsburgh, Pa., an independent national provider of value-added collateral valuation and settlement services for the residential mortgage industry, announced release of its Tier3 collateral reevaluation report.

The report can include two separately focused field inspections, plus Tier3's written analysis. The final report always provides a critique of the original appraisal performed by a licensed and certified appraiser on any piece of property or appraisal under quality assurance review.

ComplianceEase Partners Releases State Compliance Products
ComplianceEase, San Francisco, a provider of automated compliance services, announced initial release of its RegulatorConnect and RegulatorDirect services, designed enable state-regulated mortgage lenders and banking institutions to plug into a new, more automated regulatory examination process, reducing their required time and cost.

RegulatorConnect links institutions with state regulators through electronic data transfer, while RegulatorDirect enables lenders to electronically deliver compliance audit reports to regulators. The process includes ComplianceAnalyzer, which was selected by the Conference of State Bank Supervisors to provide baseline as well as customized state agency-specific audits as the examination automation component of the Model Examination Guidelines initiative.

FlagStar Taps RealEC for Appraisal Management
RealEC Technologies Inc., Santa Ana, Calif., a provider of collaborative network servicers for the mortgage industry, entered into an agreement with Flagstar Bank, Troy, Mich., for RealEC's suite of appraisal management services.

RealEC will integrate Loantrac, Flagstar's loan origination system, to the RealEC Exchange, an electronic collaboration platform. RealEC's Appraisal Management suite will assist Flagstar in the appraisal management process, including automated appraiser and valuation product selection based on Flagstar's decision criteria and loan data.

ASC Offers Subscription Payment Option for PowerSeller
Associated Software Consultants Inc., Middleburgh Heights, Ohio, announced availability of its PowerSeller Secondary Marketing and Risk Management System and related training, installation and configuration services on a subscription basis.

As part of the PowerSeller subscription payment option, mortgage lenders receive a reduced upfront fee and can pay the remainder of the license fee and set-up costs over a three-year (12-quarter) period. Upon completing the third year of payments, users can expect a reduction in the quarterly payments to cover ongoing system support.