December 2016 - Getting Serious About Diversity

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 5 MTECH retrieving recorded documents that are often missing and can cause many downstream issues throughout the life of a loan. Nationwide Title Clearing uses the new report in the delivery of the assignment and release services its clients rely upon. Through the process of an NTC-created assignment or lien release, the company validates the assign - ment chain and lender of record shown on the most recent assignment in the AVX to support the correct preparation and execution of the document being prepared to be recorded. MetaSource and ComplianceEase Form New Partnership COMPLIANCEEASE WILL OFFER AUTOMAT- ED COMPLIANCE TESTING FOR ALL LOANS REVIEWED BY METASOURCE. M etaSource, a Salt Lake City-based provider of mortgage quality control compliance advisory and workflow automation solutions, announced a partnership with Silicon Valley-based ComplianceEase, a division of LogicEase Solutions Inc., and a pro - vider of risk management services to the financial industry. The partnership with ComplianceEase will allow MetaSource to provide automated compliance testing for loans submitted to MetaSource for review, according to MetaSource. MetaSource provides independent third- party reviews of loans for lenders to provide feedback on salability issues or issues that could surface during an audit from regulators. This review process includes compliance checks during the pre-funding QC process, which provides significant risk mitigation benefits to lenders by addressing loan quality issues before funding. "The MetaSource-ComplianceEase partner - ship is a natural fit, as we have had a long standing relationship with ComplianceEase and its ComplianceAnalyzer platform," said Mary Kladde, SVP of Mortgage Services at MetaSource. "Coupled with our team's expertise in loan production, this partnership will ensure that MetaSource is able to deliver accurate, actionable results to help lenders improve their overall loan quality when delivering loans for purchase and preparing for potential regulatory audits." ComplianceEase's flagship product, ComplianceAnalyzer, provides automated, loan-level auditing that covers all levels of regulation, including federal, state, and municipal high-cost, anti-predatory laws; usury; consumer credit regulations; payment penalties; and more. "Lenders can't rely on the 'stare and compare' approach to test for compliance with TRID. Automation allows the auditing of all documents for delivery timing sequencing, fee names, tolerances, changed circumstances, and reasons for re-disclosures so they can review exceptions," said Dan Smith, SVP, Sales of ComplianceEase. "We're pleased to be selected by a third-party reviewer like MetaSource to deliver thorough loan auditing akin to what the secondary market investors and examiners will see so that lenders can originate confi - dently and efficiently." ClosingCorp Rebrands LE and GFE Solutions as SmartFees SMARTFEES OFFERS A SINGLE PROCESS AND PLATFORM FOR LOAN ESTIMATES AND GOOD FAITH ESTIMATES. C losingCorp recently announced it has rebranded its Loan Estimate (LE) and Good Faith Estimate (GFE) solutions as SmartFees, which will allow lenders to automati- cally deliver real-time, accurate closing cost data and populate the appropriate disclosures. SmartFees provides lenders with a single, seamless process and platform that integrates loan file information, transfer tax and recording data, service provider fees, and lender business rules and requirements. SmartFees is unique from other solutions in that it produces actual fee data from more than 70,000 rate cards (not estimates) through the ClosingCorp Network. The ClosingCorp Network is comprised of 20,000 nationwide individual service providers divided into 30 categories, including title, settlement, and appraisal. "As the residential mortgage industry continues to evolve, lenders need efficient and effective solutions to improve revenue potential and mitigate the risk of costly tolerance violations," said Bob Jennings, CEO of ClosingCorp "SmartFees is our flagship offering, and, as such, we will be focusing on usability, additional loan types, and other critical items to help our clients forge ahead with confidence." ClosingCorp, based in San Diego, is a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries. Seroka Launches Digital Division SEROKA DIGITAL WILL FOCUS ON DIGITAL MARKETING AND COMMUNICATIONS WITH A PARTICULAR ATTENTION ON MILLENNIALS. S eroka, a Certified Brand Development, strategic communications, and digital marketing firm specializing in the mortgage industry with offices in Milwaukee Knowledge WHY LIA? The Largest Provider of E&O Insurance to AMCs in the U.S. SINCE 1977 POLICIES SPECIFICALLY DESIGNED FOR AMCS COMPETITIVELY PRICED COVERAGE NATIONWIDE COVERAGE WITH "A" RATED COMPANIES STATE AMC BONDS WITH NO ADDED FEES Contact Susan Lomeli Ph: (800) 334-0652 X 139 Fax: (805) 962-0652 CA License #0764257 Administrators & Insurance Services LIA_AMC_Print_Ad_Knowledge_2.2917x9.125.indd 1 2/11/15 7:18 PM

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