San Francisco – a la mode announced today that LSI, a division of Lender Processing Services (NYSE: LPS), is in the final development and testing phase of "round trip" appraisal integration between LSI's eLenderSolutions and a la mode's Mercury Network Vendor Management Platform (VMP). As the need for accurate collateral valuation expands exponentially, the seamless connection between the largest stand alone appraisal management companies and the largest provider of appraisal technology will provide benefits to lenders and appraisers alike, in terms of regulatory compliance, quality assurance, report security, cost, and scalability. Speed and efficiency are primary cost-saving objectives of the new integration, which will provide LSI with the ability to electronically place an appraisal order via Mercury Network web services to the single largest pool of electronically connected real estate appraisers in every county of every state. Bi-directional status updates flow through the Mercury Network, providing a secure audit trail of interactions while making great strides toward eliminating the multiple manual "phone tag" and email messages which sap the efficiency of all the parties involved. Order and tracking functions will utilize a la mode's open, industry-standard TOTAL XML format. Final appraisal reports are delivered as secure, unaltered PDFs of the appraiser's original work, ensuring absolute compliance with state and federal regulations. Reports are delivered from the appraiser's desktop software, through the Mercury Network, directly into LSI's backend systems. A key Mercury Network capability is custom LSI workflow rules run by the a la mode software plugin on the appraiser's desktop. The workflow scripting language uses TOTAL XML-based data analysis to enable LSI's business and regulatory compliance review rules specific to individual LSI lender clients, before the report ever leaves the appraiser's desk. By performing over a thousand standard and custom checks before transmission, reports aren't sent and then rejected after manual review due to missing, incorrect, or unclear data. Time and cost savings are immediate. Unlike other solutions in which appraisers are forced to go to a specific website to accept orders or send reports, with this type of integration the Mercury appraisers, LSI, and LSI's lender clients will conduct business within their existing software and systems, updating all parties in real time. Transactions ride seamlessly on top of the transparent Mercury Network backbone, guided by a la mode's desktop appraisal software plugins and LSI's servers. Executives of both companies are optimistic that benefits will be immediate yet long-lasting. "Mercury offers us a large secure national footprint of electronically-connected appraisal providers, along with the ability to have our quality control rules executed at the appraiser's desktop", said Ron Frazier, LSI President. Frazier added that "This integration will provide benefits to both LSI operations and our lender clients." Scott Kinnaird, a la mode's CEO commented that "We're proud to have been selected by a dominant leader such a LSI for this critical component of their strategic plans. I speak for both companies when I say that we're proud of the immediate benefits this will provide to our respective customers, and in particular to the broader chaotic mortgage collateral market, which needs all the help it can get right now." About Lender Processing Services LPS is a leading provider of integrated technology and services to the mortgage industry. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, portfolio retention, risk management and default, augmented by the company's award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages are serviced using LPS' MSP. In fact, many of the nation's top servicers rely on MSP, including seven of the top 10 and 16 of the top 20. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, please visit www.lpsvcs.com. Contact: Jennifer Miller 1-800-252-6633 jennifer.miller@alamode.com   Read more...

San Francisco – Mercury Network, the system that powers the web based appraisal ordering features for over 30,000 appraisers will soon release version 3.0 of its high volume, lender facing, wholesale ordering interface in response to both the new requirements of HVCC and voluntary policy changes by institutions looking to ensure the integrity of their collateral valuation processes and shield themselves from associated liabilities. Mercury Network provides a single centrally managed system, with a superb audit trail and the nation's largest panel of independent fee appraisers behind it. New HVCC-specific features, such as black-box appraisal selection and double-blind communication system, which will be available in the upcoming 3.0 version, shield lenders from risk by prohibiting influence by loan production staff while still allowing for control of the appraisal ordering process. Mercury's appraiser selection process, called Intelligent Selection System, or ISS, is a customizable set of criteria that lenders use to determine in general what's most important to them in ranking and automatically selecting appraisers. Double-blind communication mode locks down loan production staff screens hiding the identity of the assigned appraiser, limiting free-form communication and keeping a history of all activity and communications. Uniform Appraisal Review Rules, or UARR, provide over a thousand quick checks for compliance (across all types of forms) before the report ever leaves the appraiser's desk. This significantly reduces internal review and chasing operations that would have to be performed by staff members after an appraisal is received. The exact, unaltered industry standard PDF produced by the appraiser, combined with the full XML data of the report along with the results of the non-critical desktop review rules are delivered with every order. "By using Mercury Network, lenders can demonstrate the "prudent safeguards" required by HVCC by removing the opportunity for their staff to intentionally or unintentionally influence the valuation. Plus, the powerful timesaving workflow features streamline the whole appraisal ordering process freeing lenders' staff to concentrate on closing loans faster. " said Scott Kinnaird, CEO of a la mode, inc. Lenders can get more information and/or be up and running and ordering appraisals though Mercury Network in minutes by visiting www.mercuryvmp.com. a la mode's Mercury Network has delivered tens of millions of electronic appraisals since its launch in 2002, making it the undisputed leader in paperless real estate transactions. In addition to leading the market with the software-agnostic Mercury Network, a la mode's WinTOTAL desktop appraisal software is used by more appraisers than all other brands combined. Press Contact: Brad Eaton, VP of Mortgage Products 1-800-ALAMODE, 405-359-6587 405-607-0482 (Fax) brad.eaton@alamode.com Sales Contact: Sean Shiplet, Chief Operations Officer 1-800-ALAMODE, 405-359-6587 405-607-0482 (Fax) sean.shiplet@alamode.com   Read more...

Oklahoma City - With an Office level Mortgage XSite web site, users can expect a seamless integration with MortgageDashboard™. Additionally, users can take advantage of easy, customizable online 1003s for Web site visitors, effortless search engine optimization and blogging tools, and more than 300 design themes to choose from. To take them one step further than an ordinary website though, Office XSites provide limitless lead capture forms for lead generation, the ability to make changes instantly without the help of a Webmaster, automatic status messaging, and DirectFax – which transforms faxes into electronic files eliminating paper. Office XSites are also backed by 24 x 7 x 365, live tech support from the a la mode headquarters in Oklahoma City. Users can take advantage of these services for $499 a year, without any monthly or hidden fees. "The mortgage market is slowing down, so we want to offer originators every opportunity to originate more loans," said Jorge Sauri, CEO of Austin, Texas-based MortgageDashboard™. "Now a la mode is integrated into MortgageDashboard™, and it's easier than ever for loan originators to generate more leads." MortgageDashboard™ is a completely paperless system based on the concept of Software as a Service that offers all of the tools mortgage brokers and bankers need from origination to funding. MortgageDashboard™ provides loan product optimization, loan application processing, and all state-specific forms and disclosures. Additionally, MortgageDashboard™ allows users to manage documents, order vendor services, update borrowers and real estate agents, generate leads, perform effective marketing and much more from any Internet connection. Clearly, the pairing of these two products gives any LO the tools to take business to the next level in any market condition. About MortgageDashboard MortgageDashboard™ was founded in 2001 and specializes in providing OnDemand software. The MortgageDashboard™ Web-based loan origination and processing software is the nation's leading paperless OnDemand LOS. Based on the Mortgage Industry Standards Maintenance Organization's data standards and e-Mortgage guidelines, MortgageDashboard™ is the solution of choice for mortgage loan officers and brokers, Net Branch providers and mortgage banks for paperless mortgage loan origination and processing in real-time. For more information, contact MortgageDashboard™. at 800-209-8812 or visit www.mortgagedashboard.com.   Read more...

Congress Urged to Safeguard Key Role of Independent Appraisers Washington, DC – A plan under consideration in Washington will drastically curtail the valuable role of independent appraisals in home sales and harm consumers. The plan, known as the Home Valuation Code of Conduct (HVCC), was designed to prevent lenders and mortgage brokers from coercing appraisers into providing inflated property valuations. Unfortunately, as written, it will actually harm independent appraisers, who have no financial incentive and act as the "auditors" of housing transactions. If approved by federal regulators, the HVCC is scheduled for national implementation in January 2009. Tens of thousands of independent appraisers throughout the country are expressing their concern to lawmakers and regulators in Washington. They have formed a loose coalition to urge Congress to protect consumers by safeguarding the critical role of appraisers in providing fair property valuations. "While I support the concept of the HVCC, the current version will decimate our profession and actually is a big step backwards for consumers. It creates a dangerous, unbalanced playing field certain to result in lower quality, less accurate valuation of the nation's housing, right at the time that we need accuracy and stability the most" said David Biggers, chairman, a la mode, inc., one of the real estate industry's most mission critical and innovative technology companies. "Accurate, independent valuations protect the interests of consumers, lenders, taxpayers, and investors." The HVCC forces lenders to engage regulated appraisers through unregulated appraisal management companies (AMCs), which retain almost 50 percent of the fees paid by lenders. This means that independent appraisers – who represent tens of thousands of small businesses across the country – could lose half of their revenue if the current version of the HVCC is implemented. These small business people are responsible for more than $6.4 billion in revenues to the U.S. economy, according to Federal Financial Institutions Examination Council's Appraisal Subcommittee. Beyond the immediate loss to the appraisers, there is a negative impact to the economy, estimated to exceed $5.8 billion, adding a significant impact to the overall financial downturn 1. Physical inspections of properties may be curtailed Unless amended, the proposed Code will result in lower quality and less accurate appraisals by creating a system that does not require a physical inspection of properties. Instead, it creates a preference for the use of less reliable automated valuation models, known as AVMs. "We are concerned that major portions of the Code will undermine, rather than enhance, the quality and reliability of appraisals," Comptroller of the Currency John C. Dugan recently wrote to the Office of Federal Housing Enterprise Oversight, the agency that oversees Fannie Mae and Freddie Mac. "We have significant concerns that compliance with the Code will disrupt mortgage appraisal processes that generally are functioning well for depository institutions and consumers." "AVMs have been criticized by government agencies, including the National Credit Union Administration and others, because they are simply not accurate," said Biggers. "They do not take into account special details that can have a substantial impact to the value of a home, and could result in consumers getting inflated or deflated appraisals." Data derived from the Federal Financial Institutions Examination Council's Appraisal Subcommittee's (ASC) database of appraisers, the number of estimated active appraisers, number of appraisals performed annually, fee per appraisal and an economic impact multiplier of 1.8.   Read more...

a la mode, inc., one of the real estate industry's largest and most mission critical technology companies, announced today that DaVinci, its sketch and field data gathering product, is the first real estate appraisal program in the US to receive the Certified for Windows Vista logo, ushering in next-generation reliability to the real estate appraisal process. DaVinci also runs on Windows 2000 and Windows XP. DaVinci allows appraisers to easily create floor plan sketches, either at the office using a desktop computer, or in the field using a Tablet PC or UMPC and a digital pen. When used on site at a field inspection, DaVinci allows appraisers to also gather required information, take freeform notes, and manage photos, in addition to sketching the floorplan. a la mode's companion desktop formfilling software, WinTOTAL, is overwhelmingly the most popular appraisal program on the market, with more than half of all real estate appraisers nationwide utilizing it. All of the data gathered within DaVinci, including the sketch, stays organized in a single file that is saved in a native WinTOTAL format, which makes it seamless and simple to transfer to the final appraisal report. Until now, appraisers typically used pencil, paper, and a traditional clipboard to sketch the property and gather data, but that process can easily introduce errors. It's possible using manual methods to overlook measurements, be unaware that a measurement is incorrect, or even fail to note important features of the property being appraised. DaVinci guides the appraiser through a completely customizable onsite inspection, and provides an interactive checklist of critical data which needs to be gathered before leaving the site. An appraiser in the field can also drive by comparable properties and complete the appropriate sections of the report directly within DaVinci, ensuring the best comparables are used and that the comparable data is as accurate as possible. Data is saved in the appraiser's Digital Workfile, storing a full audit trail of the work done and ensuring compliance with government regulations and professional standards. In addition to improving the reliability of the information gathered, DaVinci enables the appraiser to go directly from the field inspection to the final report without retyping data or sorting through the subject and comparable photos, saving the appraiser substantial amounts of time and effort. "The real estate industry is undergoing massive technological transformation, and appraisers are at the leading edge of it," said David Biggers, Chairman and founder of a la mode. "Microsoft's rigorous standards and independent laboratory testing allow companies such as ours to provide the innovative tools appraisers now require, while simultaneously assuring them that they'll have a positive experience with reliable software." "Microsoft is pleased that a la mode has earned the Certified for Windows Vista software logo for its DaVinci application," said Jeff Price, Senior Director of Windows Client Product Management at Microsoft Corp. "This highlights a la mode's commitment to providing its customers with higher quality applications that deliver a more secure, reliable and compatible experience with Windows Vista." Thousands of real estate professionals have downloaded and evaluated DaVinci prior to its release from the a la mode Labs website, providing valuable input and feedback as part of the development process. DaVinci is available for download here. All product and company names herein may be trademarks of their registered owners. Press contact: Chris Low Product Manager, a la mode, inc. Telephone: 801-972-6672 Sales contact: Brian Hedges Appraisal Sales Manager, a la mode, inc. Telephone: 800-252-6633   Read more...

Salt Lake City, UT (August 21, 2007) – a la mode, one of the real estate industry's most mission critical and innovative technology companies, announced the release of lead routing tools built for the Apple® iPhone™. Today's announcement highlighted a number of new feature integrations with the iPhone, following earlier lead management features introduced in August. iPhone lead routing and management functionality is part of a la mode's broader "real estate now" mobile technology initiative. a la mode is the first company to provide brokers and agents the ability to manage and route website leads on an iPhone. a la mode's lead routing capabilities for the iPhone come at a time when: Almost three quarters of all home buyers consider a real estate agent's response time either a "very important" or an "extremely important" factor in their decision when choosing an agent to work with. Nine out of ten Internet home buyers say the same. Forty-seven percent of home buyers who use the Internet to select an agent and 43 percent of non-Internet buyers say they select their agent because the agent is either the first or the quickest to respond to his or her inquiry.* "The mobile era has changed how real estate business is done," commented Rusty Lindquist, a la mode's Vice President of Broker and Agent Products. "Other systems equip users with mobile access to data. But that's no longer enough in today's ‘real estate now' climate." Brokers and agents need the ability to process that information, and act on it instantly, Lindquist stressed. "Sometimes that means immediately sending a lead to a particular agent, or agent team, and sometimes it means routing leads directly to an automated drip marketing campaign based on their specific responses to a lead form," Lindquist said. "Our new mobile lead routing and management features allow agents and brokers the mobile flexibility to process leads on the go." The newest iPhone integration with a la mode's Agent Xsite and Broker XSite websites allow real estate professionals to immediately assign a Web lead to an agent, directly from their iPhone, or to a routing group, for "round-robin" group distribution. Also with the update, agents and brokers alike can assign a lead to a la mode's automatic marketing suite, XSellerate, and immediately start a drip marketing campaign targeted specifically to the lead, such as first time buyers, high-end sellers, and so on. Real estate lead routing and management for the iPhone enables real estate professionals on the go to more effectively manage, monitor, and respond to leads – even when brokers and agents are away from the office. "While our mobile tools will work on any web-enabled mobile device, the iPhone gives REALTORS® a unique and compelling navigational experience that lends itself well to new and advanced users alike," Lindquist said. Brokers and agents can learn more about a la mode lead management for iPhones here. *All statistics from California Association of Realtors' annual Internet vs. Traditional Buyers Survey.   Read more...

Company removes barrier to taking advantage of powerful, fully supported, custom websites and agent marketing solutions   Read more...

New Mortgage XSites Users Get Free Domain Name, Free Professional Web Site   Read more...

a la mode labs produces its first prototype – field inspection management Application for Tablet and Ultra Mobile PCs.   Read more...

OKLAHOMA CITY, OK. - Flagstar Bank, a proven leader in paperless mortgage processing, and a la mode, developer of mission critical desktop, mobile and Web tools for mortgage originators, announced the completion of a custom software plug-in to a la mode's SureDocs system, which will streamline document delivery for Flagstar brokers who use the application.   Read more...