MReport October 2018

TheMReport — News and strategies for the evolving mortgage marketplace.

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6 | TH E M R EP O RT MTECH Caliber Launches New Jumbo Loans Product CALIBER'S ELITE ACCESS AIMS TO FILL A GAP IN MARKETS WHERE PRICES ARE HIGH AND TRADITIONAL. C oppell, Texas-headquar- tered Caliber Home Loans recently announced the launch of its latest Portfolio Loan product, Caliber Elite Access. The product was created in response to rising property prices and is offered with some of the industry's most robust features. According to Caliber, Elite Access is unique and a strong addition to Caliber's Portfolio Lending suite of loan solutions. Elite Access borrowers may qualify for up to $3 million in loan funds with as little as 5 percent down and a 700 FICO score. New homeowners may save even more after closing, as mortgage insur- ance is never required. Elite Access offers a variety of loan terms and options, including both fixed- and adjustable-rate terms. Additionally, both 5/1 and 7/1 adjustable-rate mortgages (ARMs) are available under this product line. "At Caliber Home Loans, we're always working to increase op- portunities for home ownership," said Sanjiv Das, CEO, Caliber Home Loans. "We're truly excited about Elite Access, as it empow- ers consumers and investors in markets with rapidly rising home prices to participate in property ownership. Caliber offers a unique jumbo product that competes with bank jumbos that tend to be offered to private wealth manage - ment clients." The company said it launched Elite Access to enable jumbo-loan borrowers to purchase or refi- nance immediately. The 95 per- cent loan-to-value ratio provides affordability to more potential homeowners and flexibility for investors in markets where home prices are rising rapidly but mainstream banks are not able to respond in a timely manner. Caliber Home Loans is an approved seller/servicer for both Fannie Mae and Freddie Mac, an approved issuer for Ginnie Mae, and is an approved servicer for FHA, VA, and the USDA. The company carries multiple servicer ratings from Standard & Poor's, Moody's, Fitch, and DBRS. ARMCO Launches Fraud Case Manager Tool THE NEW FRAUD TOOL AIMS TO KEEP DATA SECURE, WHILE OFFERING EFFICIENT TRACKING AND RELEVANT ANALYTICS FOR LENDERS. A t the end of August, ACES Risk Management (ARMCO) announced the launch of its new Fraud Case Manager, a web-based project management and analysis tool aimed at centralizing fraud inves - tigations into a single system. "Fraud cases are full of confi- dential details and valuable data, and most lenders aren't using this data to their advantage," said Phil McCall, President of ARMCO. "Now lenders can use Fraud Case Manager to protect sensitive infor- mation, analyze data for strate- gies going forward, and increase efficiency and accuracy." Fraud Case Manager is intended to be a more efficient system for mortgage lenders in monitoring and reporting suspi- cious, possibly fraudulent activity. While lenders traditionally rely on spreadsheets or other systems to handle multiple cases simultane- ously, this opens them up to data breaches and other issues. ARMCO stated that Fraud Case Manager is a centralized, secure, and fully configurable web-based alternative to these systems. Additionally, Fraud Case Manager aims to be faster and more efficient New Tech Brings Added Efficiency and Data to Mortgage Companies Mortgage companies and professionals continue to embrace technology to increase efficiency and benefit customers, while also turning to tech tools to deliver data that can drive their businesses forward.

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