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Bank of America Focuses on Customer Satisfaction During Refi Boom

Bank of America is experiencing a deluge of phone calls from homeowners wanting to refinance. Consumer demand is so high, in fact, that without some internal adjustment, it threatens to compromise the level of customer service delivered by the bank's fulfillment personnel and interfere with closing timelines. The company says it's not willing to sacrifice long-term customer satisfaction for short-term volume, and it has instituted a temporary stopgap measure that alerts customers when it is experiencing processing delays due to high volume.

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Fannie Mae Now Accepting Online Offers for REOs

Fannie Mae announced Tuesday that it has expanded its online system to accept purchase offers for all its REOs listed for sale. Real estate agents will now submit offers online on behalf of clients, receive receipt confirmation, and track the status of submitted offers through the HomePath.com website. In November 2010, Fannie Mae launched the HomePath Online Offers pilot in Orlando, Florida; San Diego, California; and Detroit, Michigan. Now, the Online Offers feature is available for all Fannie Mae-owned properties across the nation.

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New York AG Sues Three Largest Lenders Over MERS

New York Attorney General Eric Schneiderman has filed a lawsuit against the nation's top three mortgage lenders charging that their use of the electronic registry system MERS has resulted in deceptive and fraudulent foreclosure filings throughout New York's state and federal courts. The lawsuit alleges that employees of Bank of America, JP Morgan Chase, and Wells Fargo, acting as ""MERS certifying officers,"" submitted court documents containing false information. MERS is also named as a defendant.

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HUD Approves IndiSoft Module for Direct Reporting by Counselors

IndiSoft announced Tuesday that the company has enhanced its RxOffice Premium Counselor Edition. The updated module has been approved by HUD to meet the reporting requirements of agencies participating in its Housing Counseling Program. It was created to address the surge in the number of homeowners needing counseling to make informed housing decisions, and gives counseling agencies a scalable and flexible web-based case management tool to manage their internal business operations.

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Equator Promotes Two to Vice President Positions

Default technology provider Equator has promoted Chris Michaels to VP of product development and Robert McKinley to VP of business development. Michaels has nine years of business analysis and product development experience. He will lead the team that provides business process solutions and system design for all Equator's clients. McKinley has led Equator's business development effort while working closely with new and existing customers. In his new role, he will continue to foster new business relationships.

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MBA Names VP of Strategic Planning and Internal Technology

The Mortgage Bankers Association (MBA) announced Wednesday the appointment of Peter J. Grace as the trade group's new VP of strategic planning and internal technology. Grace will facilitate the implementation of initiatives that involve membership engagement through a coordinated project management and leadership role. He joins MBA from HUD, where he most recently served as chief of staff for the Acting Deputy Secretary Estelle Richman.

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ISGN Enters Into $20M Line of Credit from JPMorgan

ISGN Corporation has obtained a $20 million secured line of credit from JPMorgan Chase, the company announced Wednesday. The line of credit from JPMorgan is available through November 21, 2012, subject to certain conditions. ISGN says the terms allow the company to utilize the entire $20 million immediately to take advantage of market opportunities in the first half of 2012.

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DataQuick Launches Nationwide Distressed Property Analysis Tools

One of the keys to the housing market's recovery is managing and ultimately clearing out the inventory of distressed properties, according to DataQuick, a real estate data provider headquartered in San Diego, California. The company released its new RiskFinder Distress at the American Securitization Forum on Monday.

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Former Presidential Appointee Devaney Joins IndiSoft Advisory Board

IndiSoft, a technology development firm that focuses on systems for the default services industry, recently announced that Earl Devaney has joined its advisory board. Devaney recently retired from the federal government after 41 years, most recently as President Obama's choice to oversee the distribution of the $787 billion American Recovery and Reinvestment Act of 2009 stimulus plan.

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Aklero Releases New MERS Data and Doc Validation Module

Aklero Risk Analytics Inc. provides mortgage quality control software and services to the industry via its automated data and document assurance platform. The company recently announced the release of a new DQx module for MERS data and document validation. The module is part of Q-Close, Aklero's loan quality management platform, and provides an automated method to validate the accuracy of data resident in the MERS electronic registry.

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