Industry Briefs, March 15, 2024
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TitleEQ Announces Integration With Liquid Logics LOS
TitleEQ, Philadelphia, has announced an integration with the Liquid Logics, Lees Summit, Mo., cloud-based loan origination system.
Mortgage lenders using Nova will gain access to TitleEQ’s instant title quotes and full settlement service suite. TitleEQ also uses TitleBox LIVESearch, an instant, AI-generated assessment of title searches.
TitleEQ said the integration will help save time for Liquid Logics users, as well as alleviate costs.
Ginnie Mae MBS Portfolio Outstanding Grows to $2.54 Trillion
Ginnie Mae’s mortgage-backed securities portfolio outstanding grew to $2.54 trillion in February, including $30.9 billion of total MBS issuance and leading to $11.4 billion of net growth.
The new MBS issuance supports financing of more than 96,000 households, including more than 44,000 first-time buyers. Of the February MBS issuance, 69.8% represents new mortgages to support home purchases.
Last month’s issuance includes $30 billion of Ginnie Mae II MBS and nearly $894 million of Ginnie Mae I MBS, including nearly $816 million in loans for multifamily housing.
BSI Financial Services, Bizzy Labs Roll Out Major Compliance Enhancement
BSI Financial Services, Irving, Texas, and affiliate Bizzy Labs announced a major enhancement to Bizzy Labs’ compliance technology, Libretto, to further streamline and automate the loan boarding process, particularly for MSR acquisitions.
Libretto now integrates business rules with automated workflows to minimize risk when MSR clients are boarding newly acquired loans.
Libretto’s enhancement incorporates dozens of business rules that check for common errors and discrepancies and can provide end-to-end reporting that gives internal stakeholders, including prior servicers, the ability to monitor status updates and loan boarding issues and quickly deliver accurate results.
Informative Research Says Lenders Using Desktop Underwriter Can Utilize AccountChek
Informative Research, Garden Grove, Calif., announced lenders using Fannie Mae’s Desktop Underwriter can now leverage a 12-month asset verification report to validate income and employment in addition to assets with a single asset report via AccountChek.
Once borrowers authorize access for their financial information via AccountChek, it can retrieve the relevant information and generate a summary report.
That is then shared with the lender’s point-of-sale or loan origination system, and in the AccountCheck dashboard. The integration with DU ensures the necessary data flows into it as part of the loan submission.
