Industry Briefs, April 23
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Fairway Launches Hybrid eClosings for Reverse Mortgages
Fairway Independent Mortgage Corp., Madison, Wis., announced it has introduced hybrid eClosings for Home Equity Conversion Mortgage borrowers.
HECM borrowers will be able to e-sign most loan documents before closing, beginning at midnight on closing day.
Borrowers will be able to choose between a hybrid eClosing or traditional all-paper closing.
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Rocktop Technologies, One Diligence Announce AI Reconciliation Solution
Rocktop Technologies, Irving, Texas, and One Diligence announced their jointly developed AI-powered QCMaiven Corporate Advance Reconciliation solution.
The solution empowers buyers of MSRs and whole loans to offer a price that accurately compensates current servicers for their advances while compressing invoice reconciliation processes.
It offers a consolidated view into the transaction history of every property and loan, matching all advance payments with associated invoices. It also ensures sellers’ prior advances have not exceeded the maximum allowable fees per various GSE and agency guidance.
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Halcyon Provides Import Capability for Fannie Mae’s Income Calculator Powered by IRS Transcripts
Halcyon, Fort Worth, Texas, announced an integration to provide import capability for Fannie Mae’s Income Calculator using tax transcript data, integrated into the Halcyon Income Analyzer platform.
It allows lenders to calculate qualifying income using verified IRS transcript data, and those calculations are eligible for rep and warrant relief from Fannie Mae.
Fannie Mae’s Income Calculator will be embedded into Halcyon’s interface. Halcyon’s Income Analyzer can eliminate manual entry errors, ensure guideline consistency and accelerate underwriting.
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MCT, Calyx Strengthen Integration
Mortgage Capital Trading, San Diego, and Calyx, San Jose, Calif., announced a new release of the data integration between their platforms.
The new API-driven integration improves the speed, breadth, control and customization options of data flow for mutual mortgage lender clients.
It’s offered free of charge to mutual clients and between the firms themselves.
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Xactus Offers The Work Number Report Indicator
Xactus, Broomall, Pa., announced The Work Number Report Indicator from Equifax, Atlanta, is now available through Xactus360.
It allows lenders to quickly see an indicator of the applicant’s employment status alongside an Equifax credit report.
It’s a complimentary benefit for Xactus clients who order their credit reports through the firm and leverage The Work Number for verifications of income and employment. The data provided will determine if there’s an active report available from The Work Number over the past three years. The additional report can then be delivered alongside the credit report.
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Friday Harbor Completes $6M Seed Round
Friday Harbor, Seattle, announced the completion of a $6 million seed round.
The firm has created an AI-powered platform that helps loan officers assemble complete and compliant loan files in real time. Lenders of any size can leverage AI to read and interpret borrower documents, generate a borrower-specific needs list, underwrite files and flag potential conditions in real time.
The round was led by Abstract Ventures, with Wischoff Ventures and A12 Incubator also participating.
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