Technology

Chronos Solutions, a Coppell, Texas-based real estate financial services provider, announced a new offering Thursday aimed at providing lenders information that was recently removed from credit reports. Starting in July, national credit reporting agencies were no longer permitted to include liens and civil judgment data in their credit reports. The change came as the result of a civil action suit that claimed inclusion of lien and judgment data can wrongfully lower a consumer’s credit score by up to 100 points. The company set out to fill the void in lender information by offering a lien and judgment addendum to its Funding Suite Report.

Marsha Williams, a compliance expert at Mortgage Resources Group (MRG) will speak at two industry events this month. Williams will discuss “What’s Happening in Residential Mortgage Lending?” at the Texas Association of Bank Counsel Convention in Bastrop, Texas, which takes place September 21-22. She will also be part MBA's Risk Management, QA and Fraud Prevention Forum in Miami, September 24-26. Williams serves as senior attorney at MRG, which has been offering mortgage industry compliance solutions for more than 35 years.

HouseCanary, a San Francisco based real estate data analytics and valuation platform, announced today a commitment of $31 million in funding from investors, bringing the company’s total funding to $64 million since it was founded in 2014. Among the investors were Alpha Edison and PSP Growth, a division of PSP Capital, which was founded by former Commerce Secretary Penny Pritzker. HouseCanary also received additional investment from existing investors in its Series B funding. “Our vision continues to be validated by both the technology and real estate industries, and is further underscored by the support from PSP Growth and Penny Pritzker, one of America’s most prominent entrepreneurs and business builders,” said Jeremy Sicklick, CEO of HouseCanary.

Fintech is growing at a rapid pace, with U.S. investment in the technology reaching $13 billion in 2016 alone. Take a look at what three industry professionals had to say at Tuesday’s open hearing entitled: “Evaluating the Fintech Landscape.”

Proctor Financial, a provider of lender-placed insurance announced how it will be helping efforts in southeast Texas due to Hurricane Harvey.

Ellie Mae, a cloud-based platform provider for the mortgage finance industry, announced it has signed a definitive agreement to acquire Velocify, a sales acceleration platform.

Ellie Mae, a cloud-based platform provider for the mortgage finance industry, has announced Dinesh Shahane as their SVP of Engineering.

Paradatec, Inc., based in Cincinnati, Ohio, announced Thursday its WriteUCD module has been verified as a technology integration vendor for Freddie Mac’s Loan Advisor platform as it satisfies the requirements of the GSE’s Uniform Closing Data files. A provider of optical character recognition solutions, Paradatec’s WriteUCD takes data from mortgage closing disclosure documents “in mere seconds per page” and then transfers it to the new required format. In fact, Paradatec claims to provide “quick and accurate identification of over 500 unique documents in the typical mortgage file,” and it is adapting to new industry standards.

Arch Mortgage Insurance Company and OpenClose announce Monday an integration aimed at providing “more competitive, sophisticated and dynamic MI pricing solution than conventional rate sheets,” according to Chris Hovey EVP and COO at Arch MI. Arch MI, the flagship private mortgage insurance provider of Greensboro, North Carolina-based Arch Capital Group, and West Palm Beach, Florida-based OpenClose, are collaborating to offer Arch MI RateStar pricing information within the OpenClose LenderAssist loan origination system.

Clarocity Corporation, based in Carlsbad, California, announced Monday that Bill Waltenbaugh is taking on the role of Chief Appraiser at Clarocity Valuation Services. Waltenbaugh brings 30 years of real estate industry experience to his new role, including past experience as a Chief Appraiser and Director of Compliance at several appraisal management firms. “Bill Waltenbaugh is a nationally recognized appraiser, with vast experience in ensuring exceptional appraisal quality and compliance,” said Aleksandra James, President of Clarocity Valuation Services.