MReport January 2020

TheMReport — News and strategies for the evolving mortgage marketplace.

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8 | M R EP O RT MTECH ments and information in the mortgage closing process. ALTA launched the Registry in 2017 as the first national data- base of real estate attorneys, title insurance agents, and settlement companies. In addition to contact information and branch locations for settlement firms, agents, and title companies, each Registry listing includes a title agent's or real estate attorney's unique seven-digit ALTA ID, which enables lenders to quickly verify the identity of the entity han- dling a transaction. With 8,000 confirmed records and more being added daily, the Registry is becoming an important tool in fighting cybercrime. "The national ALTA Registry is a unique real estate utility created specifically for mortgage lenders and technology partners," said Diane Tomb, ALTA's CEO. "We're pleased to offer this tool as an innovative product to Mortgage Cadence and its clients. The emergence of the ALTA Registry as an effective and easy-to-use source of data and information comes at the perfect time to help counter the alarm- ing increase in wire fraud." Efficient and secure con- nectivity is one of the highest priorities for title agents and their customers. The Financial Crimes Enforcement Network reports that attempted business email compromise (BEC) threats have increased to more than $300 mil- lion per month from $110 million per month in 2016. Further, the number of BEC suspicious activ- ity reports increased to 1,100 per month last year, more than double the 500 reported per month, on average, in 2016. Using the unique ALTA ID from the ALTA Registry, Collaboration Center immedi- ately validates title agents during the account creation process to help ensure that all users are verified, ultimately adding vet- ting capabilities to increase the security of the network. "The addition of ALTA Registry data in Collaboration Center adds another layer of defense against cybercrime and represents just one of the many steps Mortgage Cadence uses within the product to provide secure alternatives to email," said Bryan Ireton, CEO and Managing Director of Mortgage Cadence, Accenture. Mortgage Cadence's Collaboration Center reinvents the way lending professionals and settlement-service firms in- teract. By automating processes, such as document comparison and email search; exchang- ing documents and data; and offering real-time messaging, it helps lenders increase efficiency and profitability. Further, the platform does not require mas- sive data entry to deploy into production processes. A New Dimension in Underwriting THE NEW VENTURE BETWEEN CORELOGIC AND HOVER IS DESIGNED TO ALLOW CARRIERS TO BETTER MANAGE INSPECTION EXPENDITURES. C oreLogic, a global prop- erty analytics solution provider, announced the integration of HOVER property SOMETIMES, IT'S GOOD TO BE A FOLLOWER. Follow MReport on social media to put the latest mortgage banking news, stories, strategies, and insights at the touch of your fingertips. MReport @TheMReportNews The MReport

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