Banking and Finance

Banking and Finance
Banking Industry News, Mortgage Finance, and Payment Processing

NEWS: (GREAT FALLS, Va.) LeaseAccelerator, the leader in Equipment Lease Management software, announced the results of a 2016 market readiness survey for the new lease accounting standards. The first research study to be completed since the Financial Accounting Standards Board (FASB) announced ASU 2016-02 (ASC 842), surveyed financial professionals about their state of readiness for the new leasing standards.
Sunshine Capital

NEWS: (HOLLYWOOD, Fla.) Sunshine Capital, Inc. (PinkSheets:SCNP) today announced that its parent Company DIB Funding, Inc. has been acquired by the Daniel Joseph Duffy Descendants Trust. The Daniel Joseph Duffy Descendants' Trust was established for the benefit of Daniel J. Duffy's two children, ages 6 and 11.

NEWS: (PROVO, Utah) Simplifile, a leader in electronic document and data workflow technology for lenders, settlement agents and counties, announced it has installed its e-recording solution in 16 additional county recording offices across Alabama, Arkansas, Georgia, Florida, Louisiana, North Carolina and Pennsylvania.
ReverseVision

NEWS: (SAN DIEGO, Calif.) ReverseVision, Inc. is pleased to announce that it is again offering the popular 'Home-Equity Loans Facts Track' seminar for mortgage lenders interested in learning more about the home-equity conversion mortgage (HECM) loan on May 11, 2016 at the Hyatt Regency Huntington Beach, Sandpiper Room from 12:30 p.m. to 2:30 p.m.

NEWS: (ADDISON, Texas) Mid America Mortgage, Inc. Owner and CEO Jeff Bode announced the firm has retained mortgage banking and capital markets executive Michael Lima as managing director of its Whole Loan Trading division. With nearly 30 years of mortgage expertise, Lima will direct Mid America's whole loan acquisition business, including its recent entry into the market for loans with TRID compliance issues.

NEWS: (SAN DIEGO, Calif.) Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), welcomes Kt Duong and Troy Ferguson, as Vice President, Business Relationship Managers to its seasoned team of bankers. Mr. Duong has been in banking and finance for 8 years, including Commercial Capital Partners, Commercewest Bank and Citigroup.
DocMagic

NEWS: (TORRANCE, Calif.) DocMagic, Inc., a premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that PROGRESS in Lending presented the company with one of its annual Innovation Awards for the development and widely successful launch of its industry-leading SmartCLOSE(TM) collaborative closing portal for TRID compliance. DocMagic was one of only seven recipients to receive the honor out of numerous applicants.

NEWS: (SAN DIEGO, Calif.) ReverseVision announced today that Willow Bend Mortgage, an independent mortgage lender serving the South Central United States, has selected RV Exchange (RVX) as its reverse mortgage loan origination software (LOS). A long-standing community lender in its home state of Texas, Willow Bend began expanding its reverse mortgage program in 2015 and is currently licensed to operate in 12 states.

NEWS: (PROVO, Utah) Simplifile, a leader in electronic document and data workflow technology for lenders, settlement agents and counties, today released quarterly figures summarizing the organization's activities and achievements from January through March 2016.

NEWS: (DENVER, Colo.) Altavera Mortgage Services, a premier provider of third-party residential mortgage origination services, reports a marked uptick in non-Qualified Mortgage (non-QM) inquiries in the first quarter of 2016. According to President and Founder Brian Simons, staffing requests from Altavera's clients suggest the industry is preparing for increased business in Q2 and the second half of 2016.

NEWS: (WEST PALM BEACH, Fla.) OpenClose, an enterprise-class, multi-channel, end-to-end loan origination system (LOS) provider, announced that industry veteran Michael Falce has been hired as a vice president, enterprise account executive. In this role, he will work with lending entities of various types and sizes to utilize OpenClose's LenderAssist LOS and additional software solutions.

NEWS: (GREAT FALLS, Va.) LeaseAccelerator, the leader in Equipment Lease Management software, today announced a new release featuring updated functionality to support the new lease accounting standards introduced by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). With support for FASB ASC 842 and IFRS 16, LeaseAccelerator customers can now confidently comply with the financial reporting requirements of the SEC and other international regulators.

NEWS: (ALISO VIEJO, Calif.) Platinum Data Solutions, a provider of valuation data and analytics solutions, has launched RealView QB (Quality Bridge), the industry's only appraisal quality technology that allows users to authorize access and share information with third parties, including lenders, AMCs, appraisers and investors.

NEWS: (PROVO, Utah) Simplifile, a provider of collaborative technology for lenders, settlement agents and counties, announced it was one of seven recipients of the 2016 Innovations Award from mortgage technology advocacy group PROGRESS in Lending. The company was honored for its Collaboration and Post Closing solutions during a ceremony in Los Angeles on April 3 in conjunction with the Mortgage Bankers Association's National Technology in Mortgage Banking Conference and Expo.
PAVASO

NEWS: (LOS ANGELES, Calif.) Pavaso, a leader in eClosing and Consumer Management technology solutions, announced it has recorded its 2,000th live transaction on the Digital Close platform. In addition, more than 6,500 user accounts have been created in the platform, spanning from mortgage lenders to title/settlement agents to REALTORS and consumers. The announcement was made in conjunction with the Mortgage Bankers Association's National Technology in Mortgage Banking Conference and Expo.

NEWS: (SAN DIEGO, Calif.) Jeff Birdsell, CMB and vice president of professional services for ReverseVision, Inc., today was honored with Mortgage Banking magazine's Tech All-Star award. Mortgage Bankers Association (MBA) Chief Economist Mike Fratantoni and Mortgage Banking Editor-in-Chief Janet Hewitt presented Birdsell with the award during the MBA's National Technology in Mortgage Banking Conference and Expo 2016 in Los Angeles.

NEWS: (SAN DIEGO, Calif.) ReverseVision, Inc. announced today that NOVA(R) Home Loans (NOVA), a Tucson, Arizona-based mortgage lender serving the Southwestern United States, has selected RV Exchange (RVX) as its reverse mortgage loan origination software (LOS). NOVA has originated reverse mortgages as a correspondent lender since 2014.

NEWS: (TORRANCE, Calif.) DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today the formal launch of its fully integrated eClosing solution that electronically transforms the entire mortgage process from initial eDisclosure to final eClosing through investor eDelivery.

NEWS: (LANSDALE, Pa.) Global DMS, a leading provider of web-based compliant valuation management software, announced that CMG Financial (CMG), one of the nation's leading lenders, has streamlined the management of its appraisal process from start to finish using Global DMS' eTrac platform.

NEWS: (ATLANTA, Ga.) MEDIA ALERT: Reverse mortgage expert John Button, president and CEO of San Diego, California-based software provider ReverseVision, is available for interviews in Atlanta on Tuesday, April 12, and Wednesday, April 13, 2016.

NEWS: (ALISO VIEJO, Calif.) Platinum Data Solutions, a provider of valuation data and analytics solutions, has announced that Craig Zielazny, the company's senior vice president of valuation analytics, has been named to the Board of Advisors for Springfield, Ohio-based Wittenberg University's new Master of Science in Analytics program. The Board of Advisors is charged with collaborating to create the department's curricula and courses, and could include guest lecturing. The inaugural semester for Wittenberg University's Master of Science in Analytics program begins in August 2016.

NEWS: (ADDISON, Texas) Mid America Mortgage, Inc. remains one of few bidders on so-called TRID 'defect' loans, said Owner and Chief Executive Officer Jeff Bode. According to Bode, Mid America wins roughly 80 percent of its bids on the loans, which have been rejected for purchase by other investors due to TILA-RESPA Integrated Disclosure (TRID) infractions ranging from minor errors to more significant defects.

NEWS: (PLANO, Texas) Pavaso, Inc., a provider of digital process and collaboration solutions for the real estate lifecycle and SigniaDocs, Inc., a provider of eMortgage platform technologies, announced the integration between their two platforms to facilitate an all-inclusive eClosing process.
ReverseVision

NEWS: (SAN DIEGO, Calif.) ReverseVision has announced that Wilmington, N.C.-based Alpha Mortgage, a full-service mortgage lender serving the Carolinas and Virginia, has selected RV Exchange (RVX) as its reverse mortgage loan origination software (LOS) solution. Alpha Mortgage opened its reverse mortgage lending channel in early 2016 under the guidance of division manager and Certified Reverse Mortgage Professional Greg Gianoplus.

NEWS: (SAN DIEGO, Calif.) Mortgage Banking magazine announced today in its March issue that Jeff Birdsell, CMB and Vice President of professional services for ReverseVision, Inc., is a 2016 Mortgage Bankers Association (MBA) Tech All-Star. Birdsell is among just nine industry innovators who received the prestigious award, which celebrates leaders who have made outstanding long-term contributions to the field of mortgage technology.

NEWS: (POMPANO BEACH, Fla.) Leading web-based financial services quality control software provider ACES Risk Management (ARMCO) announced the release of a major upgrade to its flagship QC software system ACES Web Audit Technology (ACES) to improve overall functionality, while supporting lenders and originators still struggling with TRID compliance.

NEWS: (DENVER, Colo.) Mortgage services expert Titan Lenders Corp. announces it is now offering Servicing Transfer Management services to mortgage servicers and sub-servicers engaging in the transfer of mortgage assets and mortgage servicing rights (MSRs).

NEWS: (PEMBROKE PINES, Fla.) Sunshine Capital, Inc. (PinkSheets:SCNP) announces the opening of its new corporate website. Shareholders and other interested parties can view the new website at PinkSheetsSCNP.com.

NEWS: (PLANO, Texas) Pavaso, Inc., a provider of collaborative real estate technology, announced it has been named to HousingWire magazine's 2016 HW TECH100 list. The magazine selected Pavaso for this honor for its ability to connect 'all parties in the real estate lifecycle - consumers, REALTORS, lenders and investors - to participate in a unified process that transforms the consumer's experience and meets the CFPB's customer service expectations.'

NEWS: (SALT LAKE CITY, Utah) Mortgage document preparation vendor International Document Services, Inc. (IDS), announced the company will celebrate 30 years in business in 2016. The company plans to celebrate with various promotions and events throughout the year.

NEWS: (PLANO, Texas) Nancy G. Pratt, VP of Partner Strategies and Government Affairs at real estate technology company Pavaso, was elected to serve as co-chair of the Mortgage Industry Standards Maintenance Organization (MISMO) eMortgage Workgroup at the organization's Winter Summit in January.

NEWS: (SAN FRANCISCO, Calif.) Wattcoin Technologies Inc., a platform-as-a-service (PAAS) solution for energy companies to manage their customer's billing processes, energy savings and renewable energy investments, opens office in San Francisco, Calif.

NEWS: (ADDISON, Texas) Mid America Mortgage, Inc. (Mid America) Owner and Chief Executive Officer Jeff Bode announced the firm has hired four new account executives in its wholesale and correspondent lending division.

NEWS: (SAN DIEGO, Calif.) Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced the promotion of Marie Crivello and Debbie Marshall to Senior Vice President. Ms. Crivello joined Bank of Southern California in 2012 as Vice President, Client Relationship Manager. She has over 16 years of banking and client relationship management experience. Ms. Marshall joined the bank in 2011 as Vice President, Deposit Operations, bringing over 30 years of banking, compliance, and risk management experience to the bank.
DocMagic

NEWS: (TORRANCE, Calif.) DocMagic, Inc., a premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, today announced the development of an extensive set of new reps and warrants for its calculations, documents and data, which provides peace of mind to lenders when it comes to compliance with the TRID rule.

NEWS: (DEERFIELD BEACH, Fla.) RedFin POS today announced the launch of a web-based electronic bill payment and presentment (EBPP) platform to its payment gateway. The new platform allows merchants to generate and email secure payment links to customers who can then make payments through a secure payment form and/or make donations online. When done, vendors will receive direct deposit of funds into their bank.

NEWS: (ALTAMONTE SPRINGS, Fla.) CCMC Inc., the leading provider of financial technology integration solutions, announced the appointment of Steven Giannotti as Senior Vice President. Steve will report to President and CEO, Gene Lederer.

NEWS: (DENVER, Colo.) Mortgage services expert Titan Lenders Corp. announces it is now offering Trade Transaction Management Services to investors looking to acquire mortgage assets. Through these services, Titan facilitates the administrative tasks and logistical management of acquiring a loan pool. Using its comprehensive mortgage process and compliance foundation, Titan works in collaboration with investors to provide a deeper understanding of the risks the investor is potentially acquiring.

NEWS: (GREAT FALLS, Va.) LeaseAccelerator, the leader in Equipment Lease Management Software, announced today that it will host a webinar on Spend Management for Equipment Leases. Drawing upon case studies from Fortune 500 companies, LeaseAccelerator will outline how savings of 6-8 percent can be achieved on leases in categories ranging from transportation and material handling to IT and office equipment.

NEWS: Altavera Mortgage Services, LLC, a premier provider of third-party residential mortgage origination services, announced the addition of Debora Aydelotte to Altavera's executive team as COO. Aydelotte brings more than 25 years' experience in business line development, risk management and operational expansion and improvement to Altavera, where she will serve as chief operating officer.