MReport July 2017

TheMReport — News and strategies for the evolving mortgage marketplace.

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6 | TH E M R EP O RT MTECH with the necessary contacts to resolve outstanding issues. The Municipal Lien Search solution is available nationwide and is requested and delivered through Black Knight's OrderPoint technology, an online tracking and delivery tool that is integrated with Black Knight's national title production network. "With this innovative tool, which is part of our national, comprehensive title solution suite, we are helping buyers and title companies keep informed during the origination process by shed - ding light on any outstanding debts on a property," said Lisa Roessler, VP of Black Knight's Title Solutions division. "Making buyers aware of any outstanding liens be - fore closing helps reduce their risk and provides for a better borrower experience." Asurity Technologies Announces Integrated Compliance Platform ASURITY IS COMBINING THREE ENTITIES INTO ONE COMPLIANCE PLATFORM THAT ADDRESSES HDMA, CRA, FAIR LENDING, AND REDLINING RISKS. A surity Technologies, an enterprise formed to provide the financial services industry with RegTech solutions, announced it is bringing together Treliant Solutions, LLC; Risk Management Solutions, Inc.; and Mortgage Resources Group, LLC into an integrated compli - ance platform. According to Asur- ity, its platform will allow lenders to establish compliance through RiskExec, a SaaS analytic solution, to proactively manage a fair lend - ing and redlining risk and submit for HMDA and CRA. The plat- form also provides MRG Docs, an individual mortgage loan compli- ance solution, which generates exceptionally accurate residential mortgage documents compliant with all local, state, and federal consumer compliance regulations. In the months ahead, Asurity will be announcing the addition of new solutions to its platform. "By bringing RiskExec and the MRG mortgage documents and loan origination compliance solu - tions onto Asurity's platform, we are advancing our goal to deliver leading compliance solutions to our financial services clients built in an advanced information secu- rity environment," said Andrew L. Sandler, Chairman of Buckley Sandler, CEO of Treliant Risk Advisors, and Founder of Asurity Technologies. "We believe our Asurity solutions, developed on a strong technology platform and designed by experienced compliance profes- sionals, will deliver significant economic value in a trustworthy, secure, and user-friendly way that helps our clients navigate the increasingly complex and difficult compliance challenges posed by the regulatory environment in which they operate," Sandler added. "I am excited to be able to work with Dr. Anurag Agarwal, architect of the RiskExec solution suite, Michael Riddle, founder of MRG, and his team of experi - enced mortgage lawyers, led by Marsha Williams, in this exciting venture." Asurity Technologies formally debuted its compliance platform on June 11. CBCInnovis, Factual Data Partner with LexisNexis to Fill New CRA Information Gap WITH THE NATIONAL CREDIT REPORTING AGENCIES NO LONGER OFFERING INFORMATION ON MANY LIENS AND JUDGMENTS, CBCINNOVIS AND FACTUAL DATA WORK WITH LEXISNEXIS TO FILL THE NEW VOID. T wo business units at CBC Companies are offering new solutions to offer information that will now be left out of credit reports. CBCInnovis, a provider of credit reporting and data valida - tion services to the mortgage lending industry, and Factual Data, a provider of credit and verification services to the mort - gage lending industry, announced in late May their alignment with the data and analytics company LexisNexis Risk Solutions to offer the LexisNexis Riskview Liens and Judgments Report. When the National Credit Reporting Agencies cease of - fering access to most liens and judgment data in July, the new FCRA product will enable lend- ers to fill the gap, according to CBCInnovis. As part of this change, 50 per- cent of tax liens and data and 96 percent of civil judgments will be removed from the three nation- wide CRAs' reports. CBCInnovis said this change has created an environment of uncertainty for mortgage lenders, who have relied on this data for more than two decades to evaluate consumer home loan applications. "CBCInnovis recognized our customers' need to address the imminent information gap that will be created in the market - place with this change," said Ken Viviano, SVP of CBCInnovis. "Subsequently, we proactively aligned with industry leader LexisNexis in seeking a solu- tion to fill that void. As a result, CBCInnovis is pleased to deliver our customers a FCRA product that will be fully integrated into their current credit report format to more completely assess con- sumer credit worthiness." According to LexisNexis Risk Solutions, borrowers who have a judgment or tax lien are 5.5 times more likely to end up in prefore- closure or foreclosure, compared to borrowers who don't have "CBCInnovis recognized our customers' need to address the imminent information gap that will be created in the marketplace with this change." —Ken Viviano, SVP of CBCInnovis

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