TheMReport — News and strategies for the evolving mortgage marketplace.
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Th e M Rep o RT | 7 I n Michigan, DLS Servicing Consultants and WorkSmart Database Masters have come together to release WaterfallCalc. com, a new Web-based Water- fall loss mitigation program for Federal Housing Administration (FHA) mortgages. Created by Donna Schmidt, managing director at DLS Servicing Consultants, and Andy Tabisz, president of WorkSmart Database Masters, WaterfallCalc.com is designed to provide FHA servicers with the correct Waterfall option based on basic loan and borrower data. The program also performs all workout calculations using the provided information, which can either be entered manually or up- loaded using an export file from the lender's servicing system. Created to fit the specifications of FHA Mortgagee Letter 2013-32 and the Home Affordable Modi- fication Program (HAMP) FAQs, WaterfallCalc.com also allows for FHA-approved variances unique to housing finance agencies. In a joint release, the program's creators tout WaterfallCalc.com as "a unique program designed for ease of use and with servicing shops of all sizes in mind." Global DMS, Collateral Analytics Partner to Enhance Offerings Tech companies increase service offerings. G lobal DMS and Collateral Analytics, two providers of valuation software solu- tions for real estate professionals, announced that they have come together to integrate parts of their products. Launched as part of a stra- tegic alliance between the two firms, the integration now allows users of Global DMS' single-source eTrac Enterprise appraisal management platform to access Collateral Analytics' products and services, combining the former company's compli- ance expertise with the latter's highly accurate property value estimates. Together, the companies say the combined solutions will significantly reduce costs, drive appraisal review efficiency gains, and deliver greater accuracy, reli- ability, and time savings. Vladimir Bien-Aime, president and CEO of Global DMS, explained how the partnership will benefit both businesses and their clients: "There are many factors that must be taken into account in order to determine accurate property valuations and reporting in today's market. This new partnership extends to our customer base Collateral Analytics' sophisticated data analysis capabilities that produces precise reports on valuations, market analytics, and risk scores." Michael Sklarz, president and CEO of Collateral Analytics, echoed Bien-Aime's statement, adding praise for Global DMS, which he said "has done a tremendous job in building a platform to bring automation and compliance to the entire valuation management process for organizations operating in the appraisal business." "Our solutions complement one another well and make for a robust offering that can be seam- lessly accessed by Global DMS customers," Sklarz continued. "We are very pleased to have es- tablished such a strong partner- ship with Global DMS." NetDirector Increases Search Optimization neTDirecTor releaseD Two proDucTs To increase search capabiliTy. N etDirector recently re- leased two new products to further its mission of providing innovative cloud-based data and document exchange services. The company's new Military and PACER (Public Ac- cess to Court Electronic Records) combo searches utilize its inte- gration workflow technology to expand on the search capabilities currently offered to clients. The new Military Search Combo is an expansion of NetDirector's existing military search service. The Servicemembers Civil Relief Act (SCRA) requires foreclosure attorneys and trustees to check whether borrowers are active duty military members before proceeding. The company describes its Military Search Combo as a "tri- ple threat transaction that com- bines Military Search, Document Upload, and Launch Process with one client request." The standard military search allows customers to verify a borrower's military status without leaving the company's case management system. The Combo expands the capabilities of the search by not only performing the military verification but also uploading the certificate and launching the process automatically. The PACER Search Combo is a similar expansion of NetDirector's existing PACER search product, which relieves the customer of the manual need to log into multiple court sites or manually look for a particular bankruptcy filing. With the Combo, NetDirector expands the PACER search to include regional databases to verify bankruptcy data and also uploads the docket automatically into the client's case management system. Returned searches and dockets have live hyperlinks, saving time by eliminating the need to rekey information into the case management system. The company says it will continue developing products to satisfy the evolving needs of its client base. "NetDirector is com- mitted to innovation and custom- er service," Harry Beisswenger, NetDirector's CEO, noted. "We listen to our customers' needs and develop new solutions that meet those needs with added benefits. Our goal is to always stay ahead of our competition and to help simplify our customers' business process automation, saving them time and money." on the web