January 2016 - Out of the Woods

TheMReport — News and strategies for the evolving mortgage marketplace.

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4 | TH E M R EP O RT MTECH Collaborations are the Name of the Game Technology platforms, long-standing companies, and data providers join together to redefine the industry. CoreLogic Unveils Enhanced HomeEquity Data Offerings THE NEW SOLUTION WILL OFFER LENDING DATA, PERFORMANCE MONITORING AND MORE. C oreLogic Inc., recently released its HomeEquity data offerings, which include home equity data from eight of the 10 largest home equity lenders, over 37 million records, and performance monitoring of 6.2 million active Home Equity Lines of Credit (HELOCs) and Home Equity Loans (HELs) with active balances totaling more than $315 billion. The new technology will be provided through CoreLogic's home equity data solutions: CoreLogic Loan Level Home Equity and TrueStandings Home Equity. "Home equity lending is poised for a resurgence fueled by several forces: home price appreciation, recent refinance waves that locked the best credits into historically low first mortgages, and stronger consumer confidence," said Olumide Soroye, managing director of information solutions at CoreLogic. "Our expanded home equity data solutions provide originators and servicers with a better view of the overall market and the emerging opportunities and risk it offers, as well as an in-depth analysis of their current books of business." According to CoreLogic the new Home Equity offerings will give consumers month-to-month loan level performance informa - tion and portfolio risk modeling. It now includes new information on utilization trends, including timing of draws, draw repayment terms and the reasons for loan/ line disposition. Meanwhile, TrueStandings Home Equity is a Web-based solution that provides aggregated home equity data analytics, including monthly performance data. Its main purpose is to analyze and benchmark origina - tion, delinquency, and prepayment performance at a market level. By using these solutions, clients will be able to assess payment shock risk associated with seasoned HELOCs converting from draws to repayment terms, perform utilization analysis on HELOCs, analyze performance and delinquency trends of their portfolios, and make better-in - formed home equity underwriting and marketing decisions. OpenClose & LBA Ware Partner to Automate Loan Comp Process COMMISSION AND PAYOUT TRACKING WILL NO LONGER BE NECESSARY. O penClose and Lending & Banking Automation Software (LBA Ware) announced they have teamed up to provide an automated loan compensation process that will no longer require companies to manually track commission and payouts. OpenClose is an enterprise- class, multi-channel, end-to-end loan origination system (LOS) provider and LBA Ware provides commission automation software. The new partnership will combine loan information from OpenClose's LenderAssist LOS into LBA Ware's CompenSafe application, which will automate the commission process, a press release from the companies said. LBA Ware's CompenSafe technology is Web-based and automates, tracks, calculates, forecasts, and provides analytics and dashboard-level reporting on compensation plans for loan officers, processors, branch managers, and other commission- based employees. The companies noted that along with

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