TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/624250
TH E M R EP O RT | 5 MTECH OpenClose's LenderAssist, CompenSafe will be able to take loan data from the LOS to automate and manage compensations in a variety of departments. "Integrating LenderAssist with CompenSafe allows our mutual customers to completely eliminate the use of spreadsheets to manually calculate commissions and other forms of compensation, which is laborious, cumbersome and error prone," said Vince Furey, SVP of lending solutions at OpenClose. "With CompenSafe, however, our customers' loan officers now have complete visibility over their pipelines and when they'll be paid, while management gains easy access to compensation analytics, metrics, reporting and other performance indicators. This integration delivers a great deal of value for lenders." Most LOS options are unable to automate commission and bonus calculations, which has caused many organizations much distress. When handling many variable- based, complex commission structures, they've been forced to do the work manu - ally, using Microsoft Excel and additional internal resources. CompenSafe will eliminate these repetitive, error prone, manual calculations and data re-entry from the lending compensation function, allowing organizations to increase efficiency, lower costs, and effectively oversee sales compensa - tion and profitability. "Companies that recognize the value of knowing their numbers, assessing their pipeline and production to look for opportu- nities, and having the information to make timely decisions are the companies that will thrive and prosper in this transforming mortgage market," said Lori Brewer, founder of LBA Ware. "The dependable and consistent stream of data CompenSafe pulls from LenderAssist allows near real-time compensation and metrics that our custom - ers depend on for managing and increasing their loan volume." ValuAmerica & Black Knight Integrate Loan Closing Technologies VALUNET XSP AND CLOSING INSIGHT PLATFORMS WILL MERGE, SYNCING DATA WITH LOAN CLOSING AUTOMATION. V aluAmerica, Inc., a national title agency, appraisal management company and technology provider, recently announced it has teamed up with Black Knight Financial Services, Inc., a provider of integrated technology, data, and analytics to the mortgage and real estate industries, to provide a fully integrated loan closing solution for lenders. The announcement noted that ValuAmerica's ValuNet xsp platform will be combined with the LoanSphere Closing Insight application from RealEC Technologies, a division of Black Knight. "The integration will create an efficient and secure electronic method of communicating with any lender using Closing Insight while producing the Closing Disclosure," said Shawn Murphy, EVP of ValuAmerica. "By using the closing collaboration data transfer, the analytics, change tracking and systemic documentation will help keep all parties informed and in-sync on a real-time basis." According to ValuAmerica, Closing Insight is an online platform that automates the loan closing process. This will allow lender and settlement agent data to merge, streamlining the reconciliation of fees for final loan closing disclosures. Lenders and settlement agents will now be able to produce and review disclosure documents, helping them meet loan-closing timeline requirements, and electronically fulfill title, closing, and document signing orders. "The integration with ValuAmerica's ValuNet xsp platform furthers Black Knight's efforts to drive a more seamless mortgage "Companies that recognize the value of knowing their numbers, assessing their pipeline and production to look for opportunities, and having the information to make timely decisions are the companies that will thrive and prosper in this transforming mortgage market." —Lori Brewer, founder of LBA Ware