TheMReport — News and strategies for the evolving mortgage marketplace.
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on the web Optimizing Options LoanLogic is based in Fort Washington, Pennsylvania. Platinum Data is headquartered in Aliso Viejo, California. Industry leaders are turning to the latest in lending technology to improve their bottom lines. Fifth Third Streamlines Processes INSIDE THE INDUSTRY LoanLogic Partners Up to Improve AVMs The company teamed with Platinum Data Solutions to create a platform for efficient AVMs. L oanLogic, a leader in loan performance and quality analytics, and Platinum Data Solutions, a provider of comprehensive collateral valuation technologies, announced a partnership to combine loan performance analytics, management, and monitoring with automated valuation models (AVMs). 8 | The M Report As part of the partnership, LoanLogic is integrating a set of best-performing AVMs from Platinum Data's independent platform into LoanHD, a singlesource solution created to gauge and monitor risk in loan portfolios with an AVM cascade that delivers unparalleled accuracy and a hit rate of up to 95 percent. "With this partnership, LoanHD clients can generate AVMs from two providers and could receive an estimated market value, low- and highvalue range, confidence score, and the forecasted standard deviation with each order, thus increasing confidence in their data," explained LoanHD product manager Don Smith. "The combination of Platinum's OptiVal with LoanHD serves to further the goal of creating advanced solutions that address valuations, compliance, loan quality, improve profitability, and manage risk during the loan lifecycle," added Ira Artman, SVP of product management for LoanLogic. "OptiVal provides the highestquality and most accurate, efficient automated valuation offering in the marketplace," said Arturo Garcia, co-founder and COO of Platinum Data. "Together we are delivering to the mortgage industry the most advanced quality control, risk mitigation, and compliance offering combined with the best-of-breed automated valuation models." Fifth Third approves DocMagic to provide document management solutions for the company. C alifornia-based DocMagic, Inc., a provider of fully compliant loan document preparation, compliance, and eDelivery solutions, announced it has received approval from Fifth Third Mortgage as an eDelivery and eSignature vendor for correspondent lenders who sell to the bank. According to the bank, Fifth Third will now permit electronic delivery and signature of eligible initial disclosure documents from approved correspondent sellers that utilize DocMagic as an eServices vendor. The bank must approve the use of any eServices vendors in advance.