TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/172962
on the web inefficiencies in the mortgage process." "The U.S. mortgage industry is entering an era in which efficiency, speed, and the customer experience will be more crucial than ever in determining winners and losers," Moore said. "By adding this key mortgage processing asset, we will enhance our end-to-end credit services capabilities and bring a new generation of mortgage processing services to the industry. This offers lenders improved speedto-market, cycle-time, costs, and productivity." Under the agreement—subject to customary closing requirements—Mortgage Cadence will become a part of Accenture, and its software will be incorporated into Accenture Credit Services, which will use the technology as a core loan origination platform to process mortgages on behalf of its outsourcing clients. Accenture will also provide the software to lenders on a standalone basis as part of its banking software portfolio. "As the U.S. mortgage industry evolves, leading-edge technology applications for processing loans have taken on tremendous importance in terms of competitive advantage, growth, and profitability," said Jim Astorian, managing director for Accenture Software. "This acquisition reflects our continued focus on investing in and developing core software technologies that will help our financial services industry clients succeed in an evolving marketplace." Terms of the transaction were not disclosed. LRES Rolls Out Integration Framework Company aims to create seamless integration between its suite of products. L RES, an Orange Countybased provider of commercial and residential valuations and asset management for the mortgage, banking, credit "Our long-term strategic partnership with LendingQB allows us to deliver strong compliance and a great deal of value with an extremely tight integration." —Scott K. Stucky, DocuTech union, and real estate industries, announced the latest version of LRES DirectConnect, an integration framework enabling clients and third-party systems to integrate into the LRES LINK order management platform to optimize appraisal order processing. The latest version's enhancements enable data to meet the uniform standard as determined by the Mortgage Industry Standards Maintenance Organization (MISMO). The upgrade means data can be more easily shared across all systems, speeding up the valuation process and ensuring full compliance. "Our latest version of DirectConnect enhances the speed, accuracy, and risk management capabilities with which we process orders for appraisals," said LRES CEO Roger Beane. "Lenders can use these enhancements to reduce the time and energy they spend on the appraisal process and increase their focus on closing more loans." LendingQB Partners with DocuTech to Streamline Processes Both companies hope to align their loan origination software and compliant document prep software systems to create an efficient user experience. L endingQB, a provider of end-to-end loan origination software (LOS), and DocuTech, a provider of enterprise-class compliant document preparation software, announced a partnership to integrate their platforms. LendingQB's browserbased LOS is now integrated with DocuTech's ConformX system, enabling users to manage all aspects of document preparation directly from within LendingQB's LOS. "The new disclosure rules and other regulations make it critical that lenders have an LOS and document system that ensures dynamic, compliant documents for every loan," said DocuTech COO Scott K. Stucky. "Our long-term strategic partnership with LendingQB allows us to deliver strong compliance and a great deal of value with an extremely tight integration." All loan data resides in LendingQB, thus eliminating the exchange of potentially inaccurate disclosures that may be out of compliance and removing the time-consuming process of entering and reentering data in the document system—freeing up employees to focus on other tasks and increasing productivity. "Upon seeing the integration, there's a 'wow factor' that can't be described unless one sees the integrations in action," said David Colwell, VP of corporate strategy at LendingQB. "The commonalities that our organizations have made a strategic alliance an ideal fit to service mutual customers. We look forward to collaborating with DocuTech to board new clients." The M Report | 9