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

By Anthony Garritano and Scott Kersnar

This list has gone through several changes over the past few years. First, in an effort to illustrate the simple fact that most vendors are moving to a hosted model that offers up technology as a service over the Web vs. the traditional client-server model, we split the list into two parts, one acknowledging top vendors and another acknowledging top service providers. As predicted that line has further blurred so we have combined the two lists to form one list of top technology providers, most of which are both vendors and service providers.

Also, we originally honored 100 providers, but have recently sliced that down to just 50. The industry has been going through a period of heavy consolidation, a trend that continues to this day. As lenders look increasingly for one end-to-end solution, technology providers have merged or acquired niche players to offer a variety of services or technology applications under one company name.

As evidence of this trend, several providers that appeared on last year's list are not on the list this year because they have been absorbed by a larger entity. For example, First American has acquired CoreLogic; and Wolters Kluwer has acquired Desert Document Services. Meanwhile we are adding IBM to our list as a genuine mortgage player following its acquisition of FileNet and Palisades Technology Partners.

What hasn't changed is our goal to spotlight the true leaders in the technology space. 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.Below are our 2007 picks for the Top 50 mortgage technology providers. If you think your company should be listed, let us know by e-mailing our editor, Tony Garritano: Anthony.Garritano@sourcemedia.com.

Advectis Inc.
http://www.advectis.com
Atlanta-based Advectis Inc. has focused heavily on linking investors to its BlitzDocs Collaboration Suite to offer more value to its lender clients. For example, through BlitzDocs stipulations management between lender and investor is automated and cure dates are met on time or early. The BlitzDocs collaborative electronic loan folder mirrors the paper loan folder exactly and is used throughout the loan processing cycle.
Founded in 2000

a la mode inc.
http://www.alamode.com
Historically an appraisal software company, Oklahoma City-based a la mode inc. has stretched its product reach to include Realtors, brokers and lenders. Specifically, the company's SureDocs product creates a PDF digital file from any desktop application. The digital documents are easily stored, retrieved and manipulated. Through a la mode's partnership with Wave Systems, SureDocs includes electronic signature technology as well.
Founded in 1985

Avista Solutions
http://www.avistasolutions.com
This Web-based mortgage loan origination software has handled over $252 billion in unique loans. Columbia, S.C.-headquartered Avista Solutions' suite of mortgage lending software provides complete end-to-end solutions that can be implemented for conforming, alt-A, and subprime products, across all origination channels. The firm's customers include major players such as Taylor, Bean and Whitaker, Thornburg Mortgage, and First National Bank of Arizona.
Founded in 2002

Calyx Software
http://www.calyxsoftware.com
San Jose, Calif.-based Calyx Point features open architecture that enables it to partner well with pricing engines and transaction-management systems via its WebCaster offering. The company boasts that over 50% of mortgage brokers use its product. Capitalizing on that market share, the company has decided to expand into the banker market with the addition of new features and functionality targeted directly at small and mid-tier lenders.
Founded in 1991

Capsilon
http://www.capsilon.com
Capsilon is a technology-based service provider actively engaged in developing Intelligent Document Management and collaboration solutions. The San Diego-based company provides complete business process solutions, from Software as a Service to technology-enabled business process outsourcing on an on-demand basis at a variable cost to its lender clients. Capsilon's products replace many traditional mortgage processes with automation. The company touts fast implementations and offering complete BPO services.
Founded in 2003

Commerce Velocity
http://www.cvelocity.com
Irvine, Calif. -based Commerce Velocity LLC provides mortgage lenders, investment banks, and Wall Street investors with Web-based loan origination and processing solutions driven by a business rules and workflow decisioning platform. Their back-office processing workbench and point-of-sale portals enable the funding of higher-quality loans, while streamlining the loan life cycle. For SME lenders, CV launched a managed-services solution, OMNI, which is ASP based, investor guidelines managed, end to end.
Founded in 1999

Data-Vision
http://www.d-vision.com
Mishawaka, Ind.-based Data-Vision Inc. offers LoanQuoter.com, a template website design service, and RemoteDocs.com, an Internet-based system that lets borrowers receive disclosures, enables brokers to submit loans, and enables distribution of all other documents between parties. The company's RemoteDocs tool lets lenders employ electronic document transfer via automated interface components, on an ASP basis and via XML integration with loan origination systems. Data-Vision received this publication's Help Desk Award last year.
Founded in 1993

Dexma
http://www.dexma.com
Minneapolis-based Dexma has had great success through its Prime Alliance partnership with Boeing Employees' Credit Union and Fannie Mae, as the company handled over 140,000 loans on behalf of 1300 credit unions. Dexma's core technology, the Transaction Director, powers the retail, wholesale, and correspondent lending platforms. This year Dexma plans to expand the Prime alliance model to target community banks.
Founded in 1995

Document Systems Inc.
http://www.docmagic.com
Document Systems Inc., Carson, Calif., offers its flagship loan document production system, DocMagic, as a Windows-based system that allows the processor to locate and correct errors before printing documents and enables remote document printing through the Internet or via fax. This year the company released OpenPCL Viewer, a free electronic document viewer capable of representing documents saved in Printer Control Language.
Founded in 1988

Dorado Corp.
http://www.dorado.com
Dorado caters to large and emerging lenders in the United States and Canada. The company offers a networked, on-demand lending automation system that is used by over 360,000 professionals. Headquartered in San Mateo, Calif., Dorado�s software application suite, the Enterprise Lending System, automates the home lending process by integrating all loan channels, products, services, personnel, customers and partners through a single Web-based point-of-sale. Lenders get a single view of their business that extends enterprise wide.
Founded in 1998

DRI Default Management Systems
http://www.dridefault.com
DRI Management Systems' technology enables companies to minimize their number of defaulted loans, and manage and automate the servicing of defaulted loans including prime and nonprime mortgage loans as well as secured and unsecured consumer loans. DRI's flagship product, The Default Solution, is composed of default management modules, which enable servicers to respond to the threat or occurrence of a defaulted loan.
Founded in 1984

Ellie Mae
http://www.elliemae.com
Dublin, Calif.-based Ellie Mae Inc. provides Internet and software solutions for mortgage originators. The company's ePASS Network now enables integrating services offered through ePASS as Web services. The company offers Encompass as a mortgage processing and management system that automates the loan origination process, which is fully integrated to ePASS. Throughout the last year the company has expanded into the lender market and has added new features and integration partners to allow for automated business process management.
Founded in 1999

eLynx
http://www.elynx.com
eLynx, a portfolio company of American Capital Strategies Ltd., acquired its nearest competitor, SwiftView, in an effort to provide a more inclusive secure electronic document communications network for the financial services industry. The company now serves more than 500 financial institutions, including 17 of the top 20 mortgage lenders in the United States. eLynx's solutions enable businesses to capture and maintain data electronically throughout the document lifecycle, automating paper-intensive processes, improving workflow, reducing costs and ensuring compliance.
Founded in 1994

eMagic
http://www.emagic.com
Milwaukee-based eMagic provides a service fulfillment platform for the mortgage industry. The company touts that it has facilitated well over 3 million transactions since its launch in 2000. eMagic's Trio is a document imaging, archive and delivery tool that lets imaged documents be housed safely in one electronic folder. eMagic is a wholly owned subsidiary of MGIC Investment Corp.
Founded in 2000

Encomia
http://www.encomia.com
Within the past year, Houston-based Encomia successfully implemented its eVault for large document custodians such as GMAC and LaSalle Bank. On a smaller level, Encomia provides document preparation and SMART Doc solutions to small to midsize lenders. For example, Encomia enabled Houston-based First Houston Mortgage to originate its first-ever fully electronic loan and sell it on the secondary market.
Founded in 1997

Fidelity National Financial Inc.
http://www.fnf.com
Fidelity National Financial is one of the world's largest providers of information-based technology solutions and processing services to the mortgage and financial services industries. Its lender-related technology includes loan origination, valuation and appraisal, processing, quality control, servicing and default. The company has completed several key acquisitions, including Advanced Total Imaging Inc., a document management company; and Go Apply, a provider of online mortgage leads to lenders and brokers.
Founded in 1847

First American Cos.
http://www.firstam.com
The various business units of Santa Ana, Calif.-based First American reach into every corner of mortgage lending. First American is majority owner of Dorado, with which it created First American Fulfillment Solutions. Last year First American acquired Sacramento, Calif.-based CoreLogic, which is a provider of residential mortgage risk management and fraud protection technology and services. Nine of the top 10 U.S. lenders, as well as the capital markets, currently deploy CoreLogic tools.
Founded in 1889

Fiserv Lending Solutions
http://www.fiservlendingsolutions.com
Fiserv Lending Solutions, Brookfield, Wis., offers imaging solutions and e-lending technology, including electronic document delivery, collaborative e-closing capabilities, and electronic asset transfer and storage, to enable lenders to mix electronic and traditional lending practices or create completely paperless organizations. The company also offers core technology in Del Mar DataTrac, easyLender, and UniFi Pro loan origination technology suites on the origination side and MortgageServ on the servicing end.
Founded in 1984

Gallagher Financial Systems
http://www.gogallagher.com
Coral Gables, Fla.-based Gallagher offers Millennium, which features embedded modules for standard mortgage scenarios and multichannel lending. Gallagher's NetOxygen adds Internet-based functionality to Millennium. Gallagher moved to create a more centralized system with the release of NetOxygen Authentication Studio, which provides an extensible, enterprise-wide single sign-on solution for all Gallagher applications. The product leverages existing NetOxygen technology with an independent authentication database.
Founded in 1985

Guardian Mortgage Documents
http://www.gmd.com
Guardian Mortgage Documents, Lakewood, Colo., has provided document preparation, electronic delivery, and fully customized solutions to streamline lender efficiencies since 1987. GMD services empower lenders to remotely draw documents via the Web or direct enterprise solutions. Guardian Mortgage Services, a division of GMD, provides lenders with customized mortgage fulfillment outsource services for back-office production efficiencies (closing and post-closing).
Founded in 1987

Harland/Interlinq
http://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. Dating back to March 2004, Harland released the long-awaited Interlinq E3 loan production platform to succeed MortgageWare. The E3 Web-based platform features integrated business process management and connectivity across the mortgage supply chain. Well over 100 companies have converted from MortgageWare to E3.
Founded in 1923

Hyland OnBase
http://www.onbase.com
Since Hyland's inclusion in last year's ranking, the company has formed several strategic alliances within the mortgage space, including the most recent with Gallagher Financial Systems. In addition, Hyland has recently released OnBase 6.4, which includes an upgrade for integration with Microsoft SharePoint. OnBase provides imaging, input and capture, storage, retrieval, workflow routing, and electronic delivery of mortgage loan documents in one interface.
Founded in 1991

IBM
http://www-935.ibm.com/services/us/index.wss/offerfamily/bps/a1028616
IBM's acquisition of FileNet and Palisades Technology Partners gave notice that Big Blue intends to be a major player in the mortgage space. PTP's Impact LOS is a Web-based lending platform that supports the entire lending lifecycle, including point-of-sale, processing, underwriting and closing. Customers can leverage IBM's global business consulting, IT hardware, software, and services to develop integrated, replicable solutions.
Founded in 1924

ILOG
http://www.ilog.com
ILOG, Mountain View, Calif., is a worldwide provider of business rule logic. ILOG's JRules is widely used by leading financial institutions and insurance companies to enable STP, a major financial services industry initiative enabling automation and management of business processes and decisions in real time beyond simply updating rules. This year the company acquired LogicTools, a Chicago-based provider of supply chain planning applications, creating a new business division focused on supply-chain-application sales and services.
Founded in 1987

Interthinx
http://www.interthinx.com
In 2005 ISO acquired anti-fraud service providers Sysdome Inc. and AppIntelligence Inc. to form Interthinx. The company provides fraud prevention and decision support tools. Recently the company completed research affirming the validity of its scoring. Interthinx analyzed late payments, defaults, and foreclosure data and compared the data with previous scores and red flags. Using the Interthinx scoring system, the analysis demonstrated that loans with a low score have a much higher level of risk.
Founded in 2005

Kroll Factual Data
http://www.factualdata.com
Kroll Factual Data, Loveland, Colo., provides a wide range of customized credit reports and other information services, including automated property valuations, credit scoring systems, independent loan originator screening, fraud detection, post-closing, audits, and loan portfolio reviews. In 2007 Kroll released FactualID, a cutting-edge risk assessment engine that evaluates identity risk, occupancy risk, and straw-buyer risk.
Founded in 2001

Lender Support Systems Inc.
http://www.lendersupport.com
Beginning as a document preparation service, Poway, Calif.-based LSSI has evolved into a suite of technology solutions that includes document preparation and loan servicing solutions serving more than 1,600 customers in 17 countries throughout the world. Its Docs3D document-creation software positions customers to be more automated. The company has doubled its revenue since 2004.
Founded in 1982

Lydian Technology Group
http://www.lydiantechnology.com
Since the 2006 merger of Lydian Data Services and WellFound Decade to form Jacksonville, Fla.-based Lydian Technology Group, Lydian's Mortgage Connectivity Hub has given lenders a ready-to-deploy, standards-based infrastructure solution that connects the numerous disparate systems of the mortgage process. In 2007 Lydian Data Services added post-closing and QC services to its Electronic Mortgage Loan Data and Document Delivery Solution.
Founded in 1991

Mavent Inc.
http://www.mavent.com
Irvine, Calif.-based Mavent offers the Mavent Expert System and the Mavent Compliance Console (MC2). The Expert System submits loan data for reviews against nearly 300 legislative acts, 200 license types, and the rules and regulations of over 60 regulatory authorities. The system has conducted more than 12 million compliance reviews to date for some of the industry's largest originators and purchasers. Mavent's rule base is reviewed and signed off on by the nation's leading consumer law firms.
Founded in 1999

Metavante/GHR Systems
http://www.ghrsystems.com
Since acquiring Wayne, Pa.-based GHR Systems Inc., Metavante Lending Solutions has offered Loan Origination Studio as a comprehensive, end-to-end residential mortgage system that provides business process workflow, services ordering and movement of data and documents from point-of-sale through closing. GHR has integrated imaging technology from TREEV, another Metavante company, and connected to its parent's servicing product. Metavante Corp. is a subsidiary of Marshall & Ilsley Corp.
GHR founded in 1985

MDA MindBox Inc.
http://www.mindbox.com
Via its ARTEnterprise product family, Greenbrae, Calif.-based MindBox offers decisioning systems that use rule- and case-based reasoning to automate underwriting, pricing, product best fit, deal structuring, debt reparation, and cross-sell across multiple origination channels. Parent MacDonald, Dettwiler and Associates Ltd. (MDA) employs more than 3,000 people in locations across the United States, the United Kingdom, and Canada.
Founded in 2000

Mortgage Builder
http://www.mortgagebuilder.com
Headquartered in Southfield, Mich., Mortgage Builder Software Inc. is an end-to-end mortgage lending solution for both retail and wholesale production. Their flagship product delivers everything from pre-qualification and Web integrated services through interim servicing and loan delivery. Above the many other LOS companies in the space, Mortgage Builder prides itself on its flexible design and superior customer service. Specifically, human interaction is a strong value-add at Mortgage Builder. Customers are not greeted on the phone by an automated voice, but by seasoned mortgage professionals who understand the mortgage industry as well as the LOS.
Founded in 1998

Mortgage Cadence
http://www.mortgagecadence.com
Incorporating SOA-based architecture, Mortgage Cadence offers an Internet-based suite of automated mortgage services within a single, unified LOS system that includes streamlined, logical document tracking and advanced workflow. The system also enables real-time tracking of borrowers from origination through funding. In addition, Mortgage Cadence offers its Symphony product as an ASP system geared for small and midtier lenders.
Founded in 1996

MortgageFlex
http://www.mortgageflex.com
MortgageFlex Systems Inc., Jacksonville, Fla., offers its signature LoanQuest Residential Lending System as a fully featured residential lending system that takes a loan from pre-qualification all the way to commitment to secondary marketing, with embedded interfaces to Fannie Mae's Desktop Underwriter and Freddie Mac's Loan Prospector. The company now offers LoanQuest Servicing as a Web-based system that can be accessed by borrowers 24/7 for inquiries.
Founded in 1980

Mortgagebot.com
http://www.mortgagebot.com
Cedarburg, Wis.-based Mortgagebot.com offers transaction-capable retail mortgage websites to more than 650 banks, credit unions, and other lenders. Mortgagebot has received numerous awards for the advanced functionality of its consumer interface, its quick time-to-market and affordability, and its full compliance with E-Sign legislation and other regulations. In September 2005 Mortgagebot received an $84 million capital infusion from majority stakeholder Spectrum Equity Investors.
Founded in 1998

MortgageHub/Dynatek
http://www.mortgagehub.com
http://www.dynatek.com
Web services pioneer MortgageHub, Conshohocken, Pa., bills itself as "the center of Internet-based mortgage lending." Its HubDesigner tool allows business personnel to "assemble" and deploy new systems on their own, in real time. Fueled by its ISGN parent, MortgageHub's parent company ISGN has gone on an acquisition binge that has brought it a suite of mortgage lending tools and systems from Fair Isaac, and more recently, loan origination provider Dynatek.
Founded in 1999

New York Loan Exchange Inc.
http://www.nylx.com
NYLX provides "on-demand" point-of-sale product eligibility and pricing technology systems. The company's proprietary BestX pricing models streamline product decisioning and provide BestX pricing to maximize profits. NYLX qualifies loan scenarios to display fully-adjusted rates and prices, and ranks the results for maximum returns. The company touts itself as the only system providing extensive conventional, subprime, alt-A, and FHA/VA pre-qualification.
Founded in 2005

OpenClose
http://www.openclose.com
OpenClose offers mortgage technology -- principally Web-based portals -- utilizing the latest .NET development platforms. To date OpenClose has more than 35,000 registered users, and claims 1,000 new users a month. Clients range from Top 20 Banks to midsized lenders, to large net branches. OpenClose recently launched its Test Drive hands-on software testing environment to allow interested lenders to thoroughly evaluate its offerings.
Founded in 1998

Optimal Blue
http://www.optimalblue.com
Founded by two product-and-pricing technology pioneers, Plano, Texas-based Optimal Blue boasts accumulating hundreds of investor rate sheets every day, using sophisticated automation tools to monitor pricing updates every five minutes. The system also monitors investor guideline documents, SRP schedules, and other investor information within minutes of release so users can source, manage, price and lock loans in real time.
Founded in 2002

Overture Technologies
http://www.overturecorp.com
With a management team deeply involved in the evolution of mortgage technology and student financial services, Overture offers the Mozart Suite of mortgage tools, applications, and related services, including Mozart AUS and Mozart Pricing. In addition Overture's LendPath managed service offers per-transaction delivery of Overture pricing, product selection, and underwriting services.
Founded in 2000

PriceMyLoan
http://www.pricemyloan.com
Costa Mesa, Calif.-based PriceMyLoan.com, which recently gained its the 100th lender customer, bills itself as an accurate automated underwriting and loan-pricing engine designed for correspondent lenders. Lenders get their own private-labeled engine with product guidelines and pricing for their investors. The system offers to qualify and price borrowers for A paper, alt-A, and subprime loan products, all with up-to-date rates and pinpoint accuracy.
Founded in 2002

Rapid Reporting
http://www.rapidreporting.com
Fort Worth, Texas-based Rapid Reporting provides pre-funding income and identity verification products for financial institutions. The company established a program with the IRS that enables lenders to bring tax transcripts to the mortgage industry within 24 to 48 hours for verification of income. According to the IRS, Rapid Reporting is the largest income verification vendor to the mortgage industry, currently serving 17 of the top 20 mortgage lenders.
Founded in 1998

ServiceLink
http://www.servicelinkfnf.com
Pittsburgh, Pa.-based ServiceLink is a provider of origination and default services. The company is the national mortgage services platform of Fidelity National Financial. ServiceLink provides centralized title, closing, default and asset management services creating a start-to-finish suite of products and services for mortgage originators, servicers, banks and institutional lenders. ServiceLink's platform offers: first and second lien title, closing, escrow and recordation services; legal and vesting reports; deed information reports; collateral valuations; automated valuation models, asset management and disposition, foreclosure and REO collateral valuations; and REO title and close.
Founded in 1997

Stewart Information Services Corp.
http://www.stewart.com
Houston-based Stewart, on Fortune's 2006 "most admired" list and co-founder of the RealEC Exchange, has long been known as a leading provider of technology for real estate finance. Stewart subsidiaries include Stewart Information Services, Stewart Mortgage Information (SMI), and Online Documents. The eClosingRoom accessed through Stewart's SureClose transaction management system defines the vanguard for fully electronic closings, providing a full digital eSignature and eNotary process.
Originally founded in 1893

Street Resource Group Inc.
http://www.streetresource.com
Atlanta-based Street Resource Group bills itself as the only privately held corporation devoted exclusively to meeting the needs of warehouse lenders. SRG's loan registry alert (LRA) service automates detection of inter-warehouse fraud. SRG spearheaded launch of the Warehouse Information Network (WIN) as an independent, membership-based collaborative providing automated risk mitigation services, with network membership conferring instant alerts of multiple funding requests.
Founded in 1986

Tavant Technologies
http://www.tavant.com
Leveraging offshore and onshore resources, Santa Clara, Calif.-based Tavant stepped into the mortgage technology spotlight with a $24 million SOA implementation, consisting of about 20 services/components interacting with each other through an Enterprise Service Bus using messaging and Web services, for Ameriquest. Tavant Mortgage Solutions promises rapid enhancement of a lender's existing loan systems through a unique service combining deep domain expertise, pre-built functionality components, and global delivery.
Founded in 2000

ValuAmerica
http://www.valuamerica.com
Pittsburgh-based ValuAmerica is a builder of RESPA-compliant vendor management companies (VMCs) and a technology developer. Its ValuNet platform allows lenders, VMCs, and title companies to order and deliver settlement services, giving users access to more than 35,000 vendors nationwide. The Web version of ValuNet automatically collects data from orders, customers, and vendors and can automatically select and assign vendors.

VirPack
http://www.virpack.com
Vienna, Va.-based VirPack provides an electronic envelope designed exclusively for the mortgage industry that packages, manages, and delivers data, documents and images. The company, which enables electronic loan delivery to seven of the top 10 correspondent lenders, has been awarded a patent on its system and method of creation of virtual information packages. First Guaranty Mortgage reported a $1.5 million savings in its first year using VirPack.
Founded in 1995

Visionet Systems
http://www.visionetsystems.com
For most of the past decade, Cranbury, N.J.-based Visionet Systems has developed technology to automate processes and address pain points for the mortgage industry. In 2006 the VisiRelease platform handled over a million streamlined lien releases, giving servicers a big savings in transaction costs. In 2007 Visionet brought to market a repurchase portal with a claims-management module suited to handling subprime claims.
Founded in 1995

Wolters Kluwer Financial Services
http://www.wolterskluwerfs.com
Minneapolis-based Wolters Kluwer Financial Services is a major provider to mortgage bankers, financial services, and other industries. The company has acquired major brands like VMP Mortgage Solutions, Entyre and its X4 technology, Bankers System, PCi, and most recently Desert Docs. With worldwide headquarters in Amsterdam, the company employs over 18,000 people. In 2004, Wolters Kluwer restructured from a financial holding company to an integrated global organization.
Founded in 2006