TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/806370
6 | TH E M R EP O RT MTECH James A. Weld, President of Premium Title, said that the partnership will ultimately broaden Premium Title's customer base. "Teaming up with LendingQB allows us to expand our network by providing customers with greater access to our exceptional title services and solutions," he said. "The positive feedback from our beta customers helps confirm that this integration is adding quality and efficiency to the loan origination process." ARMCO Equips ACES Audit with Updated, Customizable Questionnaires TO ADDRESS CHANGING COMPLIANCE CONCERNS, ACES AUDIT TECHNOLOGY NOW ALLOWS SERVICERS TO UPDATE AND CHANGE THEIR COMPLIANCE QUESTIONNAIRES SEAMLESSLY AS NEEDED. A CES Risk Management (ARMCO), a provider of web-based audit technol- ogy for the mortgage industry, un- veiled new capabilities for its ACES Audit Technology in February. Servicers can now modify and update compliance questionnaires in ACES as rules and processes change. "Now more than ever, servicers face an influx of new compliance rules and regulations from federal, state, and GSE requirements that they must adhere to," said Phil McCall, COO of ARMCO. The questionnaires in the ARMCO AUDIT Technology platform are completely customiz - able. As rules change, servicers are able to make their own changes to questionnaires and begin to use them immediately. "Due to an increasing spotlight placed on servicers, we enhanced the ease of configuration and self-sufficient change management capability to our own platform, which now provides servicers with complete control to make changes in real-time to comply with the complexity of new rules," McCall said. ACES Audit Technology accom - modates several mortgage servicing functions, including traditional loan servicing tasks, such as customer correspondence and handling of complaints; specialty servicing tasks, such as adjustable rate mort - gages, assumptions, bankruptcy, and specialty HUD projects; and default servicing tasks, such as collections, loss mitigation, and foreclosures. ARMCO also added questions specific to USDA programs into its ACES offering to handle admin - istration of annual escrow fees, construction processing and repair escrows, and default processing. All of these are easily added into exist - ing questionnaires as servicers need. Black Knight Financial Services Launches Risk Mitigation Tool THE NEW IONTITLE AIMS TO REDUCE MANUAL ERRORS TO HELP PREVENT COSTLY CLAIMS. B lack Knight Financial Services announced the launch of iOnTitle, a risk mitigation tool that allows companies to efficiently identify impending liabilities and mini - mize title insurance claims. According to Black Knight, the iOnTitle solution is offered in TitlePoint, Black Knight's auto - mated, web-based title search and order management application that enables title companies to perform high-volume, comprehensive title searches; streamline order-manage - ment workflow; and easily produce examination-ready search packages. The risk mitigation tool also offers title companies an additional level of security on their title orders. The new tool also provides real-time emails with important information so a title company's staff can proactively assess and im - mediately take the required steps to mitigate risk. Email notifications in- clude the order number, company, title officer, number of transactions, the identity of the person who created property or name searches, and more. iOnTitle also features a reports page, which organizes alerts by type, enabling users to easily view, print, and email reports. "The title insurance industry loses millions of dollars in claims each year. Title experts usually un - cover any problems during the title search process; however, manual errors can lead to these claims," said Lisa Roessler, Black Knight Data & Analytics' VP of Title Strategy. "Our automated iOnTitle solution, which leverages rich data assets from Fidelity National Financial through a proprietary agreement, as well as Black Knight's advanced analytics helps title companies discover issues early, instead of after the fact. This helps to decrease the likelihood of claims, as well as helps reduce the manual work, inefficiencies and costs associated with correcting manual errors." The LOGS Group and ARMA Acquisition Combine Forces TOGETHER, THE LOGS GROUP AND ARMA ACQUISITION ADDRESS RISING ADMINISTRATIVE COSTS AND STREAMLINE PROCESSES FOR MORTGAGE DEFAULT SERVICING PROFESSIONALS. T he LOGS Group, LLC, a national provider of law firm practice management solutions, announced in Febru - ary that it has joined ARMA Acquisition, LLC, to form the largest practice management ser- vices provider organization in the default legal services marketplace. The LOGS Group was previously owned by the LOGS Network. The new Employee Stock Ownership Plan organization called A360, Inc. will operate under four distinct brands and will provide streamlined solutions to the mortgage and financial services industries. A360, Inc. will encompass a variety of features, including complete legal practice management services provided by Firm Solutions; software solu - tions and full IT support services provided by assure360; national property reports, title search, and title data solutions provided by C2C Title Data Services; and re- cord retrieval and court reporting services provided by Blue Ribbon Legal, according to The LOGS Group. Established by Gerry Shapiro and David Kreisman in 1996, The LOGS Group was created to centralize the administrative functions of their national law firm and title network. "Many mortgage default servic - ing law firms are facing challenging market dynamics as volumes con- tract while administrative demands and associated costs continue to rise," said Scott Brinkley, CEO of A360, Inc. "The practice manage- ment and technology solutions we provide will enable law firms across the country to direct their focus on delivering exceptional legal services to their clients while reducing internal operating ex - penses; it's a win-win proposition for all parties involved." "Now more than ever, servicers face an influx of new compliance rules and regulations from federal, state and GSE requirements that they must adhere to." —Phil McCall, COO, ARMCO