Banking and Finance

NEWS (POMPANO BEACH, Fla.) -- ACES Risk Management (ARMCO), the leading provider of financial quality control and compliance software, announced it has hired Dan Thoms as Chief Revenue Officer. Thoms possesses a deep background in the mortgage industry, having served in executive capacities for almost 20 years.

NEWS (SAN DIEGO, Calif.) -- ReverseVision, the leading provider of software and technology for the reverse mortgage industry, is pleased to announce that Tustin, California-based national mortgage lender New American Funding is expanding its reverse mortgage lending operation to 47 states using the RV Exchange (RVX) loan origination software (LOS).

IRVINE, Texas -- LeaseAccelerator announced today that its CEO, Michael Keeler, will participate in a panel at the upcoming Financial Executives International (FEI) New Lease Accounting Standard Conference. Issued earlier this year, the new standards, FASB ASU 2016-02 (or Topic 842) for US GAAP and IFRS 16, will require companies to track virtually all real estate, equipment leases, and leases embedded in service agreements as assets and liabilities on their balance sheets starting as early as 2019.

SAN DIEGO, Calif. -- Bank of Southern California (OTC Pink: BCAL / OTCMKTS:BCAL) announced that it has reached a definitive agreement to acquire the deposits of the La Quinta branch of Opus Bank located at 78080 Calle Estado #101, La Quinta, pending regulatory approval. The sale is anticipated to close on or about August 19, 2016.

DENVER, Colo. -- Altavera Mortgage Services (Altavera), the premier provider of third-party residential mortgage origination services, announced today that it will expand its closed-loan file review services beginning in Q3 2016. Closed-loan review, also known as pre-purchase review, is the review and approval of loans prior to investor purchase, or the audit of a loan package prior to purchase by a correspondent buyer or aggregator.

PLANO, Texas -- Pavaso, Inc., a provider of digital process and collaboration solutions for the real estate lifecycle, announced that Wells Fargo has named Pavaso an approved vendor for "hybrid" eClosings. In a hybrid eClosing, select documents are printed and "wet signed," but much of the closing package is executed electronically. Effective immediately, Wells Fargo will accept loans closed on Pavaso's Digital Close(SM) platform using this hybrid process.

SAN DIEGO, Calif. -- ReverseVision, the leading provider of software and technology for the reverse mortgage industry, is pleased to announce that Texas-based mortgage lender Open Mortgage has launched its reverse mortgage wholesale operation on the RV Exchange (RVX) loan origination software (LOS).

SAN DIEGO, Calif. -- ReverseVision announced today that Concord Mortgage Group (Concord), a Westerville, Ohio-based full-service mortgage banker and division of NOIC, Inc. (NMLS# 121455), has chosen RV Exchange (RVX) as its reverse mortgage loan origination software (LOS). Concord offers home-equity conversion mortgages (HECM), commonly called reverse mortgages, to clients in eight states.

NEWS: (TORRANCE, Calif.) DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced the formal launch of its fully integrated 'eQC' solution that automates due diligence for investors and correspondent lenders.

NEWS: (SAN DIEGO, Calif.) The Mortgage Collaborative, an independent mortgage lending cooperative, today announced the addition of 14 new lenders to their national network of originating members, according to the Collaborative's EVP of National Sales and Strategic Alliances, Rich Swerbinsky.

NEWS: (NEW YORK, N.Y.) Jonathan B. Roberts, Chief Compliance Officer and Senior Vice President at Klingenstein Fields Wealth Advisors, a leading wealth management firm with approximately $3 billion in assets under management, welcomed attendees with insightful opening remarks at the Investment Adviser Association's (IAA) 2016 Annual Leadership Conference.

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.

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.

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.

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.

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.