Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements.
Calyx Software announced a partnership with LoanScorecard, merging the company’s Path LOS with LoanScorecard’s SimpleCECL.
Calyx Software explained in a press release that LoanScorecard’s technology will enable financial institutions to seamlessly generate loan-level CECL analysis, ensuring accuracy and compliance for all loans originated.
“For many financial institutions, CECL’s upcoming effective dates may seem like plenty of time to develop and implement a strategy for calculating loan-loss reserves,” Executive Vice President of Business Development at Calyx Software Bob Dougherty said. “However, if they want to run parallel analyses and calculations at least two quarters before the effective date to ensure accuracy, time is running out. Our integration with SimpleCECL will provide financial institutions with an easy-to-use solution that allows them to calculate loan loss reserves and comply with CECL.”
ComplianceEase announced that LendingPad is now using the company’s ComplianceAnalyzer, permitting its users to perform real-time audits for regulatory compliance violations.
“With origination volume down and costs to close up, lenders are looking to technology for a competitive edge,” ComplianceEase Senior Vice President of Product Management Sanjay Tibrewal said. “Our integration with LendingPad helps more lenders streamline compliance processes to help accelerate closing, deliver a better borrower experience, and ultimately grow their businesses.”
Mortgage document preparation vendor International Document Services announced it recently converted its customer service platform to ZenDesk.
ZenDesk Support provides IDS a system for tracking, prioritizing and solving customer support tickets. IDS said the move will better serve its customers and help the firm maintain its commitment to responding to all customer inquiries and requests effectively and efficiently.
“Responsive customer service has been a cornerstone of the IDS brand since its inception, and as a company, we’re always looking for ways to improve the customer experience and ensure we are addressing all incoming customer communications in a timely manner,” IDS Vice President and General Manager Mark Mackey said. “Not only is this move good for our internal team, but it also provides our customers with a portal that allows them to more clearly see what is happening with their support request, thus providing additional assurances that the IDS team is on the case.”