MReport August 2019

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 5 MTECH lenders time and streamline the origination process." "National MI's products and groundbreaking risk-based pricing technology make them a perfect partner for us," said Joe Langner, CEO of Blue Sage. "One of the many distinctive aspects to this direct, system-to-system integra- tion is that Blue Sage automatically alerts users if changes in the loan file require mortgage insurance to be reordered or repriced. This type of rules-based process automation is unique among mortgage platforms because only Blue Sage was built with today's modern technology." Fair and Square THE LAUNCH OF A FAIR LENDING MODULE WILL ENABLE LENDERS TO ACTIVELY MONITOR HMDA PERFORMANCE. Q uestSoft Corporation, a provider of automated mortgage compliance software, has launched a fair lending module inside Compliance RELIEF, the com- pany's regulatory reporting and analysis platform. The new Fair Lending RELIEF module enables lenders to actively monitor HMDA lending performance to identify areas of higher risk. Fair Lending RELIEF provides an integrated fair lending perfor- mance analysis and monitoring tool to assist in identifying poten- tial matched pairs, underwriting and pricing disparities, as well as levels of assistance, steering, and redlining risks. Performance analysis includes the ability to interactively review the individual loan records behind the result. "Fair lending risk manage- ment obviously isn't a new concept," said Loretta Kirkwood, VP of Compliance at QuestSoft. "Lenders need help identify- ing, managing, and limiting performance risk. We created Fair Lending RELIEF to use the lender's existing HMDA data to simplify that process." Leonard Ryan, Founder and President of QuestSoft, added: "What lenders need is insight into how regulators will view their performance—before their next examination. Fair Lending RELIEF provides the tools needed to self-identify and cor- rect potential fair lending risk." In addition to fair lending, Compliance RELIEF provides lenders with Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), and NMLS Mortgage Call report modules that include geoc- oding mapping, analysis tools, and peer data for a complete mortgage compliance solution. Regtech to the Rescue THE ADDITION OF STATE REGULATORY CONTENT TO A NEW PLATFORM WILL GIVE ACCESS TO THE LATEST CHANGES IN STATE REGULATIONS. C ontinuity, a provider of development and deploy- ment of regulatory change management solutions for regu- lated financial institutions, has added state regulatory content to its industry leading RegAdvisor Pro platform. This new technol- ogy—RegAdvisor Pro: State—will address a shift in the market. "With an increasing number of state legislatures and regula- tory bodies becoming far more active in the oversight of financial institutions, we felt it was critical for our clients to have access to current state level content as a part of our overall technology of- fering," said Mike Nicastro, CEO, Continuity. RegAdvisor Pro: State will be offered as an add-on module for Continuity's RegAdvisor Pro product. Clients will be notified of regulatory changes for the states they subscribe, so they do not miss regulatory issuances. They will also manage state regulatory changes within the RegAdvisor Console, using the same tools they use for managing federal regulatory changes, eliminating the need to track and compile changes from multiple sources. "There has been an interesting shift in market dynamics during the last year," said David Bagley, Chief Revenue Officer of Continuity. "As such, we at Continuity have responded to this shift by invest- ing in new technology that will enhance our existing customer experience and further reduce risk and compliance costs for financial institutions of all sizes." Like RegAdvisor Pro, the technology RegAdvisor Pro: State focuses on ease of use and ac- cess, explains Alexandra Ramin, Continuity's Chief Product and Marketing Officer. "We have incorporated the simple and con- sistent format into our new state regulatory technology, that our clients are accustomed to seeing in our RegAdvisor Pro product. Using the same format will also allow clients to generate consistent reporting for state and federal regulatory change management," Ramin said. "Continuity provides extensive automation for regulatory change management across financial in- stitution charters nationwide and has evolved as the need for such automation has evolved." When asked about the future vision, Nicastro said, "Continuity led the charge into the world of auto- mated regulatory change manage- ment. We plan to continue by exploring new methods and tools to further automate the process. Look for us to make investments both organically and through the acquisition of key strategic tools which further enhance a compli- ance officer's ability to confidently execute their role." Delivering Faster Closing Times A NEW PARTNERSHIP PROMISES TO STREAMLINE THE APPRAISAL EXPERIENCE FOR CONSUMERS SEEKING A NEW MORTGAGE. E XOS Technologies (EXOS), a ServiceLink company, has partnered with Blend to further extend and enhance the consumer digital mortgage experience. Through the collaboration, EXOS and Blend will deliver exact real-time appraisal schedul- ing functionality for lender clients using EXOS Appraisal, a core offering from the EXOS platform. This integration enables consum- ers seeking a new mortgage to seamlessly schedule appraisal appointments by accessing live calendars of tens of thousands of licensed appraisers in all 50 states. Borrowers will be able to digi- tally select the exact date and time of their preferred appointment and receive instant confirmation plus a photo of their appraiser and the "With an increasing number of state legislatures and regulatory bodies becoming far more active in the oversight of financial institutions, we felt it was critical for our clients to have access to current state level content as a part of our overall technology offering." —Mike Nicastro, CEO, Continuity

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