Game Change

TheMReport — News and strategies for the evolving mortgage marketplace.

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cover story said Michael Krein, CEO of RIO Software Solutions based in Henderson, Nevada. "We use industry terminology, so the learning curve is very low." Rather than attempting to build on top of one of those existing solutions, RIO Software Solutions built its RIO Genesis Web-based transaction management platform from the ground up, enabling users from different parts of the industry to efficiently manage REO disposition by automating different tasks and providing a single solution for transaction management, accounting, marketing, recruiting, advertising, lead generation, lead management, relocation, referrals, paperless, document storage, property management, and workflow. "The other solutions are built by computer guys," Krein said, crediting project manager and company president Charis Staying compliant means isEnsuring Compliance Wayman for much of the develsuing updates to the software opment of the application. "We on a monthly basis in order to ompliance continues to be a built it from inside of the indusstay up to date with the latest growing issue in the industry. We knew all of the potential state and federal rule changes try, particularly with the onset of choke points ahead of time." as well as a lender's own needs. QRM and QM. With internal RIO Genesis users include For example, a lender might compliance officers needing to national servicers, title/escrow need changes to the disclosure deal with those rules, more are companies, private equity language for its adjustable rate seeking outside providers for firms, hedge funds, real estate mortgage (ARM) documents. mortgage documentation, the brokerage officers, and individual language of which changes on a Rather than changing each real estate agents. Krein estimates monthly basis, according to Scott document, the DocuTech can that RIO Genesis has 16 asset make the change in the software, K. Stucky, COO of DocuTech, management companies as clients located in Idaho Falls, Idaho. which automatically updates all and more than 8,000 users in of the other ARM documents. "The compliance officer has other parts of the industry, with The company has grown just too much on his plate," Receive free three the average userahaving subscription to MReport! 25 percent for each of the last Stucky said. people sharing the application. three years and is just ahead of DocuTech stays abreast of lendRIO Genesis also provides that pace in 2013, according to er changes as well as any laws users with broker price opinion Stucky, who expects even furbehind those changes to keep its automation, lead tracking ther growth as new RESPA and documents up subscription, For more information on your free to date with the contact Jason Myers at 214.525.6700 and generation capabilities, a Truth in Lending Act rules come latest rule changes. DocuTech's with leading marketing module, and a real into being. The rules are still in software estate agent recruiting model. the discussion stages. Once they loan origination systems (LOS) "We take all of the things are finalized, Stucky says, they and enables mortgage professionthat they don't want to do and will require entirely new mortals to generate compliant mortautomate it for them," Krein said. gage loan documents locally. gage documentation packages. C news and strategies for the evolving mortgage market June 2013 On Your Side: Mortgage Banking News, Done Better 63 43 O r i g i n at i O n a n a ly t i c S Fear Not, LeNDers evoLutioN oF risk maNagemeNt Leaders have to tow a fine line in order to remain ahead of the competition, and are resorting to new strategies and tools to ensure they are successful in their efforts. Although it may seem a herculean task, complying with the CFPB's new rules and regs shouldn't be cause for alarm. 53 76 Servicing gobbLiNg uP tHe getaways SecOn dary market moviNg Past coDePeNDeNcy With prices for vacation homes finally starting to rally, would-be buyers are packing up their bags after packing in the deals. Building a Better The GSEs once counted on the Treasury for their survival, but now that the roles have been reversed is it prudent to use them as the Treasury's shoulder to lean on? Community Homebuyers Look to Piece togetHer tHeir Dream LocaLes as tHe recovery takes sHaPe Origination | Servicing | Analytics | Secondary Market Experts you trust. People you know. News you want. MReport brings today's housing finance headlines into focus. You know mortgage banking, and we know you, which is why you can count on MReport to provide insight into the latest industry innovations. Committed to giving originators, servicers, and all lending professionals access to smarter perspectives, MReport believes it's time to think differently about the mortgage marketplace. Because the American Dream is evolving . . . are you? Subscribe now! Call 214.525.6700 or connect with us online at The M Report | 19 or

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