2009 Top Providers

Presenting this year's best and brightest mortgage technology players.

By Anthony Garritano

Each year Mortgage Technology magazine names its Top 50 Service Providers. Our four major criteria for inclusion of eligible vendors and service providers on our list are customer satisfaction, functionality, market share and viable revenue model. Demonstrating functional value to lenders is our most important criterion. It is crucial that the providers on our list have satisfied users and show the ability to hold them by keeping those customers apace of the technology deployed by competing lenders. What makes the list even more compelling this year is that 19 providers that made it this year were not on the list last year.

ACCESS BUSINESS TECHNOLOGIES
www.myabt.com
Access Business Technologies, headquartered in Folsom, Calif., is a provider of hosted, on-demand software for origination, servicing and pipeline management. Through its flagship product, PowerCore, ABT offers a range of products to help customers improve their processes. ABT’s solutions are all made available in real-time and use SAS 70 type II-audited technologies.
Founded in 1999

ALLREGS
www.allregs.com
AllRegs has been providing product and underwriting guidelines to the mortgage industry for nearly 20 years. The company continues to be the exclusive provider of product and underwriting guidelines for Freddie Mac and Fannie Mae. In the last five years, AllRegs began to publish manuals, underwriting documents and product manuals.
Founded in 1989

AVISTA SOLUTIONS
www.avistasolutions.com
Columbia, S.C.-based Avista Solutions has earned a place on the list because it offers a fully Web-based LOS that provides lenders toolsets for wholesale, correspondent, retail and consumer direct lending. In addition, Avista has about 150,000 unique users nationwide. The company has handled over $506 billion in loan volume, 100% via the Web.
Founded in 2002

CALYX SOFTWARE
www.calyxsoftware.com
For the past 16 years, Calyx Software has grown to serve more than 27,000 mortgage companies and 275,000 individual loan originators nationwide. The Calyx Solution includes Calyx Point, Point Data Server and WebCaster. Calyx Point provides secure and automated loan origination by automating the loan application process.
Founded in 1991

COGENT ROAD
www.cogentroad.com
Cogent Road develops Internet-based applications for the mortgage industry. This year the company launched an e-collaboration product called Business Spaces to enable lenders to move closer to full e-mortgage adoption. The company also offers Funding Suite, which is utilized by more than 30,000 mortgage professionals. The tool helps clients qualify applicants with its Intelligent Credit Report and protect applicant data.
Founded in 2003

COMPLIANCE SYSTEMS INC.
www.compliancesystems.com
Compliance Systems Inc. offers software that documents any type of financial transaction from mortgage, consumer, commercial, deposit and IRAs through a single system that is dynamic and data driven - CSi Intelledocs. CSi’s approach is centered around data, data-flow and data management.
Founded in 1993

COMPLIANCEEASE
www.complianceease.com
Burlingame, Calif.-based ComplianceEase’s flagship automated compliance system dubbed ComplianceAnalyzer is adopted by many state regulatory agencies. With the selection by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators, ComplianceEase developed two specific solutions to facilitate the delivery of information to banking and mortgage regulators and examiners.
Founded in 2001

DATA-VISION
www.d-vision.com
The Mishawaka, Ind.-headquartered vendor offers capabilities including online originations, instant decisioning and electronic document delivery. Data-Vision continues to demonstrate its ability to listen to its customers and deliver high-quality technology solutions that meet the needs of today’s mortgage market.
Founded in 1993

DEL MAR DATATRAC
www.delmardb.com
Del Mar DataTrac, San Diego, has added 57 new clients, invested millions of dollars into product development and finished FY 2008 profitable. Additionally, the company has revamped its vender service platform to provide its customers with quality integrations and access to the best-of-breed providers.
Founded in 1991

DOCUMENT SYSTEMS INC.
www.docmagic.com
Document Systems Inc., Carson, Calif., offers its flagship loan document production system, DocMagic, as a Windows-based system that allows fully compliant mortgage loan document packages with remote document printing through the Internet or via fax as well as paperless solutions. The company also offers LoanMagic, which includes e-commerce functions, loan comparisons, marketing campaigns, financial calculators, etc.
Founded in 1988

DOCUTECH CORP.
www.docutechcorp.com
DocuTech, Idaho Falls, Idaho, offers ConformX, a Web-based solution that generates compliant closing documents from any Internet connection. ConformX creates document packages based on information from the LOS. Every data field is automatically populated according to the customer’s business rules. The Web-based service, can be used as a desktop tool.
Founded in 1991

DOCVELOCITY
www.docvelocity.com
DocVelocity employs the paperless/digital document management technologies created through years of development and millions of dollars in investment by Flagstar Bank, and with the involvement of Capsilon Corp. The vendor makes these tools available to mortgage originators online with no upfront investment.
Founded in 2007

DORADO CORP.
www.dorado.com
Dorado’s LOS is a Web-based Software as a Service model based on a service-oriented architecture. The Dorado Enterprise Lending System was among the first to give lenders access to a fully realized Software as a Service model. Dorado counts among its current customers many of the leaders in mortgage lending. There are approximately 360,000 lending professionals with access to Dorado systems.
Founded in 1998

DRI MANAGEMENT SYSTEMS INC.
www.dridefault.com
DRI Management Systems Inc., Newport Beach, Calif., has been a provider of mortgage servicing software for over 24 years. Longevity aside, DRI calls several of the top servicers clients. DRI’s The Default Solution enables companies to minimize the need for traditional levels of personnel to service defaulted loans.
Founded in 1984

ELLIE MAE
www.elliemae.com
Ellie Mae has a diverse revenue model with a product and service offering that includes loan origination software, an electronic transaction platform, EDM and Web portals. Ellie Mae is inter-connected with over 2,000 individual entities providing access to over 90,000 settlement service providers and lenders.
Founded in 1998

ELYNX
www.elynx.com
The company touts that it has the most widely used network for electronic document communications services with integrated product capabilities including electronic document delivery, electronic signature, electronic folders, paperless fax and paper fulfillment. In addition, eLynx launched a full e-closing room for e-mortgage ready lenders.
Founded in 1994

ENCOMIA
www.encomia.com
Houston-based Encomia enables mortgage lenders to more efficiently originate loans through the large-scale enablement of electronic mortgage transactions. The company’s technology is delivered through the implementation of the Encomia e-mortgage solution, a scalable tool kit for full e-mortgage deployment.
Founded in 1999

FIRST AMERICAN INFORMATION SOLUTIONS GROUP
www.firstam.com
First American’s Information Solutions Group provides technology, property information, risk and performance data and analytics and outsourced services. The group maintains the country’s largest real property data repository. It covers 98% of all U.S. ZIP codes. The company does AVM cascades, fraud prevention, risk modeling, analytics, servicing, default management, BPOs, doc prep, REO management, outsourcing, etc.
Founded in 2007

FISERV INC.
www.fiservlendingsolutions.com
Fiserv is committed to promoting the value proposition of e-mortgage processing. Fiserv has integrated e-mortgage functionality into itsLOS systems. On the servicing side, Fiserv has made mortgage and consumer lending back office consolidation possible through the expansion of its Loan Servicing Platform. Using the platform, servicers are able to support consumer loans and mortgages.
Founded in 1984

GLOBAL DMS
www.GlobalDMS.com
The Lansdale, Pa.-based firm touts that over 1,000 appraisal firms, appraisal management companies and lenders employ the company’s Web-based software solutions. MARS, or MISMO Automated Receive Station, is the company’s newest technology that allows users to extract, export and analyze any part of a PDF document.
Founded in 1999

HARLAND/INTERLINQ
www.harlandfinancialsolutions.com
Atlanta-based Harland Financial Solutions offers technology to over 6,000 financial institutions. The company was recently acquired by M&F Worldwide, whose Clark American unit is a leading check printer. The E3 Web-based platform features integrated business process management and connectivity across the mortgage supply chain.
Founded in 1923

HEART FINANCIAL SERVICES
www.HeartFinancialServices.com
Northbrook, Ill.-based HEART Financial provides outsourced home retention services. In the past year, HEART Financial Services has handled over 350,000 mortgage loans on behalf of servicers and investors with a successful modification rate in excess of 40% of those borrowers with whom it made right party contact. HEART Financial Services offers loss mitigation services to prevent foreclosure.
Founded in 2007

IBM
www.ibm.com
IBM continues to integrate its technology assets to develop a technologically advanced lending platform in the mortgage industry. Key functionality delivered by the IBM platform includes: a paperless processing environment leveraging structured data, workflow that enables task automation, configurable solution models and rules-driven processing models, etc.
Founded in 1896

INTEGRATED MORTGAGE SOLUTIONS
www.imstoday.com
Integrated Mortgage Solutions is the collateral protection resource for the mortgage servicing industry, offering asset management and REO services, loss draft, inspections and preservation, hazard claims processing, property repair, loss mitigation and consulting services.
Founded in 2000

INTERTHINX
www.interthinx.com
Interthinx, Agoura Hills, Calif., touts that it has over 1,100 customers. The risk mitigation, fraud prevention and regulatory compliance tools access proprietary data that includes over 10 years of mortgage fraud related data gathered and stored in its own National Fraud Protection Database. The company also has application data from millions of loan applications systematically captured into the Interthinx database, plus nearly 200,000 reviews on TPOs.
Founded in 2005

ISGN
www.isgn.com
ISGN provides technology solutions, advisory services and process outsourcing in the residential mortgage industry. ISGN’s subsidiary companies include MortgageHub, the creator of the industry’s first Web services platform, and Dynatek, the first client-server LOS. ISGN is also the parent of Inuva, which provides knowledge process outsourcing and application software consulting. The company continues to acquire more assets.
Founded in 1998

KROLL FACTUAL DATA
www.krollfactualdata.com
Kroll Factual Data has been gathering and analyzing data since 1985. The company employs experts who take this data and turn it into easy-to-read reports for clients. In 2006, the company began building its own proprietary risk assessment services that have helped clients save money by not entering into fraudulent or misrepresented loans.
Founded in 1985

LENDER PROCESSING SERVICES
www.lpsvcs.com
Jacksonville, Fla.-headquartered Lender Processing Services provides origination (Empower, RealEC, ClosingStream), servicing (Mortgage Servicing Package, LPS Desktop, RediMod/ RediRefi) and default (LPS Desktop) technology. LPS provides integrated mortgage technology solutions across the mortgage continuum, and the company’s solutions are used by the top 50 banks and mortgage companies.
Founded in 1968

LENDERLIVE NETWORK INC.
www.lenderlive.com
LenderLive Network Inc., Denver, provides business process outsourcing and technology services to the single-family residential mortgage industry. The company enables its clients to outsource any or all of the mortgage origination process, including loan origination, processing, underwriting, closing and post closing services. LenderLive provides a customized and scalable solution.
Founded in 1999

LOAN-SCORE DECISIONING SYSTEMS
www.loan-score.com
Loan-Score offers a suite of modular decisioning solutions. Among them are an enterprise-class AU engine, a product and pricing engine, a portfolio analysis engine and production-facing Web portals. The Irvine, Calif.-based company just launched a walk before you run program to allow lenders to start small and adopt new pieces as the need arises.
Founded in 2000

MAVENT
www.mavent.com
The Mavent Expert System has conducted more than 23 million reviews. Mavent recently launched its enhanced License Verification & Monitoring Service, designed to provide financial institutions with the necessary controls to ensure all parties involved in a mortgage transaction are appropriately licensed and authorized to originate or broker a particular loan. .
Founded in 2000

MORTGAGE BUILDER SOFTWARE
www.mortgagebuilder.com
Mortgage Builder has been in business over 10 years and has experienced profitable, steady growth since inception, currently generating $1.5 million in revenue. Mortgage Builder, Southfield, Mich., has experienced a zero customer failure rate and an extremely low employee turnover rate. Mortgage Builder was the first mortgage technology company to develop a Linux-based LOS.
Founded in 1997

MORTGAGE CADENCE
www.mortgagecadence.com
Mortgage Cadence Orchestrator and its complementary suite of solutions, provide data-driven workflow automation and seamless integration across the enterprise to help lenders from origination, processing, underwriting, and closing through secondary marketing. The solutions provide both forward and reverse lending automation - as well as support for multiple lending channels.
Founded in 1996

MORTGAGEBOT
www.mortgagebot.com
Mortgagebot’s PowerSite point-of-sale technology offers users an integrated mortgage channel solution for taking mortgage applications via the Internet, in the branch or call center; or through professional loan officers. Mortgagebot also offers Mortgage Marvel, a free mortgage shopping website that delivers anonymous, real-time mortgage quotes.
Founded in 1997

MOTIVITY SOLUTIONS INC.
www.motivitysolutions.com
Motivity Solutions is a business intelligence vendor based in Greenwood Village, Colo. The company’s Movation application connects to the lender’s disparate systems and pulls all relevant data into one location. From there the system has established objective criteria by which data quality can be recorded and measured. The system also offers risk mitigation functionality.
Founded in 2006

OPENCLOSE
www.openclose.com
West Palm Beach, Fla.-based OpenClose Solution’s flagship product, OpenClose, presents lenders with one system to automate every key back-end operation from origination to secondary marketing support. The company recently bought the assets of LION Inc. to flesh out its offering. Included in the platform is a banking operations core LOS, providing support for underwriting, closing, post-closing, secondary marketing, funding, shipping and reporting.
Founded in 1999

OPTIMAL BLUE
www.optimalblue.com
Optimal Blue is a pricing automation vendor that substantiates that it consistently has more than a 99% accuracy rate. As an ASP-based technology, clients can access Optimal Blue from anywhere. In addition, the system can take loan data and deliver the set of products the borrower is eligible for alongside the products the borrower is not eligible for and why.
Founded in 2002

OVERTURE TECHNOLOGIES
www.overturecorp.com
Overture Technologies offers decisioning and re-decisioning technologies that can be used throughout the various stages within the mortgage value chain. Mozart for Special Servicing helps servicers and servicing divisions to achieve the right loan modification option the first time. Mozart for Acquisitions can be used by investors and lenders buying, selling, or managing-and-reporting owned pools of mortgages. Finally, Mozart for Originations, is the company’s automated underwriting system.
Founded in 2000

QUESTSOFT
www.questsoft.com
QuestSoft, Laguna Hills, Calif., offers: Compliance EAGLE, which combines components of mortgage lending compliance into a single system; HMDA RELIEF, which takes a lending professional through the entire HMDA process; and Instant Geocoder, which has address verification and census tract lookup capabilities. Lastly, CRA RELIEF provides banks with a tool to automate the compilation and reporting of CRA data to regulatory agencies that monitor banks.
Founded in 1995

RAPID REPORTING VERIFICATION CO.
www.rapidreporting.com
Rapid Reporting, Fort Worth, Texas, offers a program to authenticate Social Security numbers by comparing subject-provided information directly against the Social Security Administration database. Rapid Reporting’s core offerings are IncomeChek, an income verification tool, and DirectChek, which verifies identity and is compliant with the USA Patriot Act. The products operate over a secure Intranet, Web-based portal. The company’s newsest product is called EmploymentChek, which is a third-party verbal verification of employment.
Founded in 1998

REVERSE MORTGAGE SOLUTIONS
www.rms-nav.com
Since its inception, Reverse Mortgage Solutions has become the largest privately-held subservicer of reverse mortgages, boarding in excess of 26,000 loans to date. Last year, Standard & Poor’s Ratings Services, in its first rating of RMS, gave the company one of its highest rankings for a mortgage servicing operation.
Founded in 2007

SIGNIADOCS
www.SigniaDocs.com
Headquartered in Houston, SigniaDocs is a national e-mortgage solutions company supporting legally compliant SMART Doc and e-signature standards, as well as offering a full Web service platform for electronic document collaboration and e-mortgage processes from e-disclosure, e-processing, e-closing, e-vaulting, to e-modifications and e-delivery. SigniaDocs touts that it offers a complete e-mortgage solution.
Founded in 2004

SOLIDIFI
www.solidifi.com
Solidifi is a provider of collateral valuation, risk management and data analytic services to the North American mortgage industry. Solidifi provides mortgage lenders, professionals and third party service providers with a flexible service platform for procuring collateral valuations from marketplace vendors and appraisers, with complete transparency and data.
Founded in 2004

SOLLEN TECHNOLOGIES
www.sollen.com
Sollen’s products and services allow two-way communications that relay pricing information with technology. Lenders and originators alike benefit from improvements in the office workflow processes. Sollen has consistently retained a customer base of more than 100 customers. The technology includes automation for loan searching, product validation, loan level pricing and locking on the Web or in a desktop application.
Founded in 1999

TAVANT TECHNOLOGIES INC.
www.tavant.com
Tavant combines point-of-sale and loan origination systems based on Tavant’s Enterprise Lending Platform and a complete range of IT services with deep domain expertise across the mortgage lifecycle from point-of-sale to default management. Tavant is an expert in service-oriented architectures. It uses this expertise and its component-based platform to work with lenders on solutions that leverage existing IT system investments.
Founded in 2000

TITAN LENDERS CORP.
www.titanlenderscorp.com
Titan Lenders Corp., Denver, is an outsource provider of back office fulfillment services. Titan’s proprietary Cerberyx platform helps lenders achieve loan file compliance and its fulfillment protocols ensure that loans move toward their investor destinations without delay or unexpected outcome. The company has drawn attention to liquidity issues related to the decline in warehouse line availability, and launched a platform for new entrants to operate as warehouse lenders.
Founded in 2007

VIRPACK
www.virpack.com
Vienna, Va.-headquartered VirPack’s Enterprise Center (EC) application supports a paperless loan process from the point-of-origination through post closing and investor delivery. EC is a Web-based system built on Microsoft’s .NET framework that supports a hybrid document environment and eases the transition from paper-based processes to an e-document world. New functionality in the platform includes: multi-layered security and access control at a loan, document and user level, secure Web-based document upload, customized views for users and groups, notifications and real-time status and audit reporting.
Founded in 1995

WAVE ESIGNSYSTEMS
www.esignsystems.com
The eSign Transaction Management Suite from Wave eSignSystems, Lee, Mass., enables mortgage companies and mortgage related platforms to manage paperless business processes and transactions entirely online since 1999. The application is a fully integrated solution from document creation (or through third-party document provider) through long-term record retention- the e-vault. In addition the eTMS protects the signed document from tampering and alteration.
Founded in 1999

WOLTERS KLUWER FINANCIAL SERVICES
www.wolterskluwerfs.com
Minneapolis-based Wolters Kluwer Financial Services provides regulatory compliance and operational risk management solutions. Noted Wolters Kluwer brands include Bankers Systems, Desert Document Services, PCi and VMP Mortgage Solutions. More than 75% of mortgage loans closed in the U.S. are documented with one of WKFS’ solutions. Also, 97 of the top 100 U.S. lenders use one or more WKFS compliance analytics solutions.
Founded in 2006

XEROX MORTGAGE SERVICES
www.xeroxmortgageservices.com
Xerox Mortgage Services, Atlanta, provides electronic document collaboration through its BlitzDocs Collaboration Suite. This on-demand, Software as a Service solution allows mortgage participants to convert a paper-intensive process into an electronic process through a collaborative electronic loan folder from the point-of-origination through post-closing. The e-folder enables a network of mortgage participants, secure and immediate, simultaneous, online access to loan documents, status, conditions and more, all in real time.
Founded in 2000