Business, Free News Articles, Real Estate

Simplifile Expands E-recording Network to Another 9 Southeast Counties, 14 Midwest Counties

PROVO, Utah -- Simplifile, a leading provider of real estate document collaboration and recording technologies for lenders, settlement agents, and counties, announced it has added nine Southeast county recording offices and 14 Midwest county recording offices to its e-recording network. The new counties are located in Georgia, Florida, Illinois, Michigan, Missouri, North Carolina, Nebraska, Ohio, Tennessee, and Wisconsin.

"Simplifile's e-recording service connects settlement agents and counties so both sides can work more efficiently and cost-effectively; it's a win-win," said Paul Clifford, president of Simplifile. "We're delighted to see more counties in the Southeast and Midwest embrace a faster, safer, and easier e-recording process."

The new counties are:
* Clinch County, Ga.
* Elbert County, Ga.
* Hart County, Ga.
* Miller County, Ga.
* Troup County, Ga.
* Hardee County, Fla.
* Bureau County, Ill.
* Crawford County, Ill.
* Jackson County, Ill.
* Jo Daviess County, Ill.
* Shelby County, Ill.
* Iron County, Mich.
* Barry County, Mo.
* Clark County, Mo.
* Jasper County, Mo.
* Washington County, Mo.
* Wright County, Mo.
* Beaufort County, N.C.
* Harlan County, Neb.
* Summit County, Ohio
* McMinn County, Tenn.
* Morgan County, Tenn.
* Rusk County, Wis.

Settlement agents in these jurisdictions can now scan and submit documents directly to the county recording office using Simplifile's secure, web-based e-recording service. In just minutes, the county recorder can review, stamp, record, and return documents to the settlement agent using the same electronic system. Settlement agents can also pay recording fees and associated payments securely through the Simplifile service, reducing payment errors and eliminating check-writing costs.

More than 1,474 county recording offices throughout the United States now record deeds, mortgages, and other documents electronically using Simplifile. For an up-to-date list of all jurisdictions currently e-recording with Simplifile, visit https://simplifile.com/e-recording-counties.

About Simplifile:

Simplifile, the nation's largest e-recording network, was founded in 2000 to connect settlement agents and county recorders via its e-recording service. Today Simplifile has broadened its services to include collaboration tools and post-closing visibility for mortgage lenders and settlement agents working together on real estate documents. Through Simplifile, users can securely record, share, and track documents, data, and fees with ease.

To learn more, visit https://simplifile.com or call 800-460-5657.

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ARMCO Tackles TRID Change of Circumstance Errors

POMPANO BEACH, Fla. -- Leading web-based financial services quality control (QC) software provider ACES Risk Management (ARMCO) announced it has made improvements to its TRIDCompare(R) tool to aid lenders in resolving TRID compliance issues regarding change of circumstance. Using Optical Character Recognition (OCR) technology with a 95 percent or better accuracy rate, the system automatically detects data discrepancies between multiple Loan Estimates (LEs) and Closing Disclosures (CDs), allowing lenders to pinpoint where change of circumstance has occurred to ensure the borrower was properly notified in accordance with the TRID requirements.

"We know the industry continues to struggle with TRID. Post-closing QC results from the ACES Analytics benchmarking system show defects in the Legal/Regulatory/Compliance category have nearly doubled since the implementation of TRID in Q4 2015," said Phil McCall, COO for ARMCO. "Identifying changes of circumstance and errors for points and fees is a critical TRID QC activity and one that can add significant time to existing pre-funding and post-closing QC audits. Manual re-keying of data or 'stare-and-compare' tactics can take an hour or more per file to complete the complex comparisons required to properly QC these disclosures. With TRIDCompare 2.0, this process can be completed in as little as five minutes per file."

In this latest version of TRIDCompare, ARMCO added more than 200 data fields to the data extraction and validation for the CD, providing auditors with the ability to conduct a more thorough review with a system-driven process. Other additions include building in tolerance levels for data fields to better identify data extraction errors and the use of color coding so that auditors can easily identify fields with errors and validate data within the document.

Disclosures are automatically organized in chronological order by the "Document Issued" date to provide an accurate representation of all changes. This system-driven process allows auditors to easily identify when changes of circumstance should have been provided and all fees associated with these changes. The user can then export TRIDCompare directly to Excel, which will provide a documented audit process that can be provided to senior management, investors, or regulators.

"What makes this latest iteration of TRIDCompare so great is its ability to automate a critical, yet labor-intensive QC function that can be used in a variety of areas and applications," said Avi Naider, CEO for ARMCO. "On the pre-funding side, auditors can use TRIDCompare to prevent TRID violations and verify the accuracy of the data being presented to the borrower at closing. For post-closing, auditors can easily incorporate this review into their standard percentage audit to verify TRID compliance through closing. Even correspondent investors could leverage TRIDCompare to conduct a pre-purchase TRID compliance checks. The possibilities truly are endless."

About ARMCO:

ARMCO - ACES Risk Management delivers web-based audit technology solutions, as well as powerful data and analytics, to the nation's top mortgage lenders, servicers, investors and outsourcing professionals. A trusted partner devoted to client relationships, ARMCO offers best-in-class quality control and compliance software that provides U.S. banks, mortgage companies and service providers the technology and data needed to support loan integrity, meet regulatory requirements, reduce risk and drive positive business decisions. ARMCO's flagship product, ACES Web Audit Technology(tm), is available at any point in the mortgage loan lifecycle, to any size lender, and is user-definable. ACES Web standardizes audit requirements, ties pre-funding reviews to post-closing quality control audits, enables seamless trend analysis, identifies credit, compliance and process deficiencies and helps create manageable action plans. For more information, visit http://www.armco.us/ or call 1-800-858-1598.

ACES Risk Management Corp
1000 West McNab Road
Pompano Beach, FL 33069-4719
Phone 800-858-1598 | Fax 954-782-1199
www.ARMCO.us

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IDS Adds Fulfillment Dashboard to Mortgage Document Preparation System

SALT LAKE CITY, Utah -- Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it has introduced a fulfillment dashboard to its flagship mortgage document preparation system idsDoc. Through the dashboard, users have the ability to view, track and manage all document fulfillment requests to IDS through a single location.

"With the strict disclosure delivery timing requirements imposed by TRID, it is more critical than ever for lenders to be able to quickly and easily keep track of the status of loan documents," Mark Mackey, vice president of IDS, said. "Keeping our clients compliant with TRID has been at the top of IDS's priority list, and we continue to refine our system to meet lenders' needs."

The dashboard was designed to track the status of document packages that have been submitted to IDS for fulfillment and provide users with a historical record of all previously fulfilled document packages. Under the "Active Packages" tab, users can view each document package and see what method was used to deliver the documents. Users can also drill down to the individual document level to determine what documents have been signed and completed for that loan package.

In addition, the dashboard also tracks the borrower's progress in completing the loan package. For example, when documents are delivered electronically and are to be executed via E-Sign, the dashboard will let the user know when the initial notification was sent, when the electronic consent received and whether the borrower has completed the E-Sign process. The system also includes a separate "Wet Sign" tab to manage documents that cannot be signed electronically. From this tab, users can also easily review, add or remove documents for wet signature using the document name as listed in the document list from the PDF package file.

About IDS, Inc.:

IDS, a Reynolds and Reynolds company, was founded in 1986 in Salt Lake City, Utah, and is a nationwide provider of mortgage documents and compliance. IDS services include electronic signatures, closing documents, initial disclosures, document fulfillment and integration with leading loan origination systems and eClosing platforms. The IDS flagship doc prep solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs, particularly in regards to major industry compliance changes.

More information: http://info.idsdoc.com/.

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Business, Free News Articles

ARMCO Hires Mortgage Industry Veteran Dan Thoms as Chief Revenue Officer

POMPANO BEACH, Fla. -- ACES Risk Management (ARMCO), the leading provider of financial quality control and compliance software, announced it has hired Dan Thoms as Chief Revenue Officer.

Thoms possesses a deep background in the mortgage industry, having served in executive capacities for almost 20 years. Thoms was executive vice president of sales and Chief Strategy Officer for AllRegs from 2006 through the acquisition of the company by Ellie Mae in 2014, during which AllRegs tripled in size under his leadership. Prior to that, Thoms was vice president of education and business development for the Mortgage Bankers Association (MBA), where he revamped the MBA's education and curriculum programs, leading to significant growth.

"Compliance and quality control have taken over the top spot on lenders' list of concerns, and as a result, we are seeing tremendous interest in ARMCO's product suite," said Avi Naider, CEO for ARMCO. "Dan Thoms' unique combination of business development, strategy, sales and revenue management skills, along with his extensive mortgage industry experience, make him the perfect candidate to steer ARMCO through its next phase of growth."

According to Thoms, "ARMCO and the ACES platform occupy a unique position in the industry. ACES is as sophisticated and robust a software platform as any LOS, and as such, the biggest and most sophisticated lenders and servicers have been gravitating to ACES for the past few years. Yet, smaller lenders and servicers are just waking up to the understanding that we are in a new world, where QC and compliance are critical, and I see a huge opportunity to bring ACES to this underserved part of the market."

Thoms holds a Bachelor of Science degree in business management from Radford University in Radford, Va., and a Master's of Education degree from Marymount University in Arlington, Va.

About ARMCO:
ARMCO - ACES Risk Management delivers web-based audit technology solutions, as well as powerful data and analytics, to the nation's top mortgage lenders, servicers, investors and outsourcing professionals. A trusted partner devoted to client relationships, ARMCO offers best-in-class quality control and compliance software that provides U.S. banks, mortgage companies and service providers the technology and data needed to support loan integrity, meet regulatory requirements, reduce risk and drive positive business decisions.

ARMCO's flagship product, ACES Web Audit Technology(TM), is available at any point in the mortgage loan lifecycle, to any size lender, and is user-definable. ACES Web standardizes audit requirements, ties pre-funding reviews to post-closing quality control audits, enables seamless trend analysis, identifies credit, compliance and process deficiencies and helps create manageable action plans.

For more information, visit http://www.armco.us/ or call 1-800-858-1598.

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Business, Free News Articles

New American Funding Reverse Mortgage Operation Builds Out 47-State Footprint with ReverseVision RVX

SAN DIEGO, Calif. -- ReverseVision, the leading provider of software and technology for the reverse mortgage industry, is pleased to announce that Tustin, California-based national mortgage lender New American Funding is expanding its reverse mortgage lending operation to 47 states using the RV Exchange (RVX) loan origination software (LOS).

ReverseVision's flagship product, RVX serves as a centralized exchange, connecting all participants in the lifecycle of a reverse mortgage by allowing them to log in to a single system to share documents and information for each part of the loan process, encompassing everything from point-of-sale, processing, underwriting, funding and post-closing to secondary marketing. This central exchange model is unique in the mortgage industry and offers benefits to all parties that include reduced document errors, heightened information security and shorter fulfillment timelines.

Founded in 2003, New American Funding is a full-service mortgage lender that recently expanded its centralized reverse mortgage division to serve all 47 states in which New American Funding is licensed to operate. Its internal reverse mortgage lending staff serves branch office originators on the forward side with an exclusive focus on the home-equity conversion mortgage (HECM) for purchase, an FHA-insured reverse mortgage through which qualified borrowers can purchase a home with no required mortgage payment and which may enable them to create a tax-free line of credit for retirement funding.

"New American Funding selected RVX due to its simplicity, its popularity with nearly all the major lenders and its ability to integrate with our LOS as well as our enterprise CRM and lead management platform," said Ellen Skaggs, New American Funding's reverse national production manager. "ReverseVision was very helpful in onboarding us and worked hard to help my team create some custom modules."

According to Skaggs, as incoming leads enter New American Funding's proprietary CRM, they are automatically distributed to the appropriate branch. Engaging ReverseVision in the system allows leads for the reverse mortgage operation to be routed directly into RVX. Borrower data from RVX is also shared with New American Funding's forward LOS so lenders can use its familiar interface to conduct outreach with borrowers at pre-determined relationship milestones.

"New American Funding is an exciting example of how mortgage lenders are embracing technology to enable enterprise strategies for marketing, CRM and expansion into new markets," said John Button, CEO of ReverseVision. "ReverseVision has enjoyed the opportunity to support both its expansion of reverse mortgage lending and its commitment to an enterprise CRM strategy."

About New American Funding:

New American Funding, a national mortgage banker licensed in 47 states, was founded by Rick and Patty Arvielo in 2003. With Rick's expertise in marketing and technology and Patty's extensive mortgage background, New American Funding quickly became one of the fastest-growing mortgage bankers in the industry. Today, with well over 2,100 employees, nationwide branches, a servicing portfolio of $14 billion and funding over $1 billion per month, New American Funding is at the height of its game.

At New American Funding's mission is to provide homeowners and future homeowners a variety of home financing options at competitive rates, fulfilling their needs in a manner that enhances their standard of living and helps them realize the American Dream.

About ReverseVision:

Recognized as a Deloitte's 2015 Technology Fast 500(TM) Company, ReverseVision, Inc. is the leading software and technology provider for the reverse mortgage industry, offering products and services focused exclusively on reverse mortgages. More reverse mortgages are originated monthly using ReverseVision technology than all other reverse mortgage LOS combined. ReverseVision has partnered with some of the finest and fastest-growing lending organizations in the U.S. to provide the leading reverse mortgage technology to brokers, correspondents, lenders and investors.

ReverseVision is recognized as a driving innovator in the reverse mortgage industry. ReverseVision continues to improve its software with frequent new innovations and by building on pioneering capabilities in reverse mortgage interactive graphs, scenario analysis, multi-environment performance analysis and workflow in the origination process.

For more information, visit http://www.reversevision.com/.

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Nations Valuation Services Implements Platinum Data’s Collateral Expert – Addresses the Three Most Common Causes of Appraisal Delays

ALISO VIEJO, Calif. -- Platinum Data Solutions, a provider of valuation data and analytics solutions for the mortgage industry, has announced that Nations Valuation Services, a nationwide appraisal management company, has quantifiably improved its workflow processes by implementing Platinum Data's Collateral Expert(R) property information report. By using Collateral Expert, Nations Valuation Services is now saving labor hours equal to two to three full time employees and preventing the most common causes of the days-long delays that are typical among appraisal management companies.

"We start using Collateral Expert the moment we receive an appraisal order and keep using it through the entire appraisal process," said Stephen French, executive vice president of operations for Nations Valuation Services. "It is saving us about 60 front-end labor hours per week and has reduced back-end revisions. That is a major advance for us, because quality and cycle times are the two most important issues to our clients."

Collateral Expert is an address-driven, interactive property information report. It provides AMCs and lenders with finger-tip information on the subject property and nearby sales, in addition to scores and ratings that include a complexity score and value range. It can be used to enhance a wide range of collateral-related workflow activities, from verifying information and disclosing appraisal fees, to underwriting and reviewing appraisals and post-closing quality control.

Nations Valuation Services uses Collateral Expert as soon as it receives an appraisal order. "We have a technology that analyzes the complexity score, nearby property data and other data points, then automatically assigns the appraisal to the appropriate appraiser," said French. "We also automatically cross reference the parcel number and verify appropriate property usage for the assignment. Those three points allow us to avoid issues on about 92 percent of our appraisals-issues that would normally cause hours- or even days-long delays."

"Smart companies like Nations Valuation Services know that a lot of costly collateral-related mistakes are 100 percent avoidable," said Phil Huff, president and CEO of Platinum Data. "They use products like Collateral Expert because they know there's no downside to faster, higher quality transactions. We're proud to support Nations Valuation Services in their quest for continued longevity, profitability and growth."

Platinum Data's online platform and analytical tools are used to protect the country's top 10 mortgage lenders, and are integrated into several leading mortgage and appraisal software systems.

ABOUT PLATINUM DATA SOLUTIONS:
Platinum Data Solutions provides valuation data and analytics technologies that help mortgage lenders, servicers, investors, AMCs and their vendors value collateral, identify potential collateral weaknesses and manage collateral risk. The company's online platform and analytical tools protect the country's top 10 mortgage lenders and help hundreds of companies to perform due diligence and prevent collateral-based loss. Each year, Platinum Data protects billions of dollars in assets across the U.S. against collateral-based non-compliance, buybacks and other risks.

The company's RealView system pioneered computer-assisted appraisal underwriting. Its valuation analytics channel provides the industry's only turnkey services that assure the responsible use of AVMs. Platinum Data Solutions is based in Aliso Viejo, California and was founded in 2002. For more information, visit http://PlatinumData.com/, follow @Platinum_Data or email info@PlatinumData.com.

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Business, Free News Articles

Mid America Mortgage Executes Its First eClosing, eNote

ADDISON, Texas -- Mid America Mortgage, Inc. (Mid America) Owner and Chief Executive Officer Jeff Bode today announced the firm has completed its first eClosing and eNote through its retail origination channel. Mid America intends to expand eClosing to all of its retail business, executing eNotes and utilizing electronic documents where allowed by local jurisdiction.

"Mid America's vision for its future is to conduct eClosings with eNotes for all loans across all origination channels," Bode said. "Furthermore, this strategy aligns Mid America with the Consumer Financial Protection Bureau's initiatives, as the CFPB has signaled its position that eClosing should be an option for all borrowers."

In September 2015, Mid America announced it would leverage technology from DocMagic and eSignSystems, in addition to its proprietary loan origination system Mortgage Machine, as the foundation of its eMortgage platform.

In addition to enabling greater efficiency and cost savings, eClosing also offers demonstrable benefits to Mid America borrowers and its closing agents, according to Bode.

"The biggest benefit we saw from doing our closing electronically was being able to receive and review the full closing package days in advance. Overall, the process was easy and didn't feel too totally different from when we signed the original loan application and first set of disclosures earlier in the process," said Megan Adkins, the borrower for whom Mid America conducted its first eClosing.

"From my perspective, the great thing about eClosing is, after the list of documents to sign is cleared, we know we have a properly executed closing set. Plus, we didn't have to scan or ship the documents after closing, which is a huge time- and money-saver," said Lisa Helmbrecht, branch manager and escrow officer with Homeland Title Company, who was the closing agent for the transaction.

In addition to its warehouse partners, Mid America has also been working closely with MERSCORP Holdings, Inc. and Fannie Mae on its eNote strategy.

"MERSCORP Holdings, Inc. is pleased to see Mid America Mortgage in production with eNotes," said Katie Paolangeli, Vice President, eCommerce & Industry Initiatives with MERSCORP Holdings. "Their integration effort showcases what a lender, vendor and investor can accomplish when everyone is working toward the same goal. This is an important step for them, and for the industry."

"Fannie Mae is proud to support Mid America in its eMortgage efforts," said Jennifer Parker, eMortgage Manager at Fannie Mae. "Mid America is leading the charge for many in the industry by breaking down barriers to entry and showing that eMortgages are possible. Ultimately, we know that eMortgages will benefit borrowers and create many efficiencies in the loan manufacturing process. This is the future, and the future is now!"

Later this summer, Mid America plans to launch eClosing for its mini-correspondent business. Eligible loan programs (*note 1) will include:

* Conventional loans
* FHA loans
* VA loans
* Section 184 (Native American) loans.

"Historically, warehouse lenders have been the less than enthusiastic about eWarehousing, but the tide seems to be turning," Bode said. "Several banks have expressed their desire to participate in eWarehousing. Once we get the program up and running, our goal is to purchase loans closed electronically from participating lenders' warehouse lines within two business days of funding."

For information on the Mid America eClosing Correspondent program, contact Chris Hartman at Christopher.Hartman@midamericamortgage.com or your current Account Executive.

About Mid America Mortgage, Inc.:
Mid America Mortgage, Inc. is looking for tech-savvy, service-oriented mortgage professionals to join its growing team. We are a multi-state mortgage lender based in Addison, Texas, with branches located across the United States. Mid America offers a wide range of residential home loan programs to meet the needs of most home buyers and homeowners, and we are dedicated to providing our employees with industry-leading tools and technology to deliver a great package of competitive pricing, programs and knowledgeable service. Want to join our team? Visit http://www.midamericacareer.com/.

Additional information about Mid America Mortgage, Inc. can be found on the company's website at http://www.midamericamortgage.com/about/.

Twitter: @midamericamtge

(*note 1)
Electronic notes (i.e. eNotes) will be executed where jurisdiction and program rules allow. Notes for government-sponsored loan programs, as well as home equity loans originated in Texas, cannot be eSigned at this time. In addition, documents will be eNotarized except in jurisdictions where Deeds and Warranties do not allow for the use of an eNotary. Contact Mid America for more specific details.

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