Topic:  Press Releases

San Diego - From the floor of the REALTORS® Conference and Expo, a la mode, one of the real estate industry's largest and most mission-critical technology companies, announced today that it has extended its XSite product line with a website designed for agents who want to showcase a single listing in its own website and its own domain name.   Read more...

Real Estate agents gather photos and notes on their iPhone during home tours, converting prospects into buyers.   Read more...

Integration with Mercury Network will provide PCLender.com clients with enhanced access to local market real estate appraisal expertise on a nationwide basis while ensuring HVCC-compliant appraiser independence.   Read more...

OKLAHOMA CITY, OKLA. -- a la mode, a leading developer of desktop, mobile and web software and services for real estate professionals, announced Rick Furmage, Cari Kresa and Rick Hoffman have won a total of $69,000 as part of its 23rd anniversary celebration. The giveaway was geared to showcase a la mode's stability and leadership to each of their three core groups of customers – real estate agents, mortgage originators and real estate appraisers. As such, the company obtained thousands of entries.   Read more...

Oklahoma City - a la mode, inc. is pleased to announce the promotion of Brian Craven, CPA, to the position of Chief Financial Officer (CFO). Mr. Craven is responsible for the company's economic strategy and forecasting, financial accounting and planning, and management of the company's financial performance.   Read more...

a la mode, inc. one of the real estate industry's largest and most mission critical technology companies, announced today that it will release a new IDX product for real estate agents. IDX, or "Internet Data Exchange", is a way for real estate brokers and their agents to display all of the local MLS's listings on their own websites, with the hosting broker's contact information shown instead of the listing broker's. While the potential to deploy IDX has been around for quite some time, the laborious board-by-board data mapping and contract approval process has typically favored small local developers over large national vendors like a la mode. Often, that's resulted in bare-bones IDX systems with limited features and spotty support. But with a la mode's highly scalable database technologies, MLS data and rules are integrated more quickly and new boards can be added with ease, yet all of the IDX implementations inherit a universal and exceptionally rich feature set. Some of the key features in the new IDX product include interactive mapping with driving directions, photo slide shows with unlimited photos, support for virtual tours and video, interactive real-time "slider bar" search controls, appointment scheduling, and numerous lead capture features. "One of the features our agents love is the automatic appointment scheduler," noted Alonso Portillo, a la mode's IDX Product Manager. "When a visitor is looking at a particular property, they can request a showing directly from the site. The agent is instantly notified, both on their mobile phone and via e-mail, so they can follow up immediately." Plus, even though it's a system developed on a national scale, it includes automatic local adaptation, allowing visitors to see MLS search options that are unique to the target market. So, an IDX search in Miami knows to include options for oceanfront property, but not in Dallas. Since a la mode's IDX system "snaps in" to any agent's site, not just those using a la mode's own XSites brand websites, it helps solve the nationwide problem of getting increasingly large inventories of unsold homes marketed to potential buyers as quickly and effectively as possible. Any agent can expose all the MLS listings to the entire local market, in a consumer-friendly rich interface. "There's a dramatic surplus of listing inventory sitting in the MLS, which most consumers don't know how to effectively access," added Portillo. "Even when they do find some way to see the MLS's listings, there's usually a huge discrepancy between the kind of browsing experience offered by outdated IDX and MLS systems versus the consumer's online experiences at media-rich sites like Google, Yahoo, CNN, and countless others. With more than 80% of all home searches starting online, the kind of rich, complete visitor experience inherent in our IDX system is a crucial component of successful online marketing of these unsold homes" said Portillo. For more information, visit www.alamode.com/idx or call 1-800-252-6633 Press Contact: Ellana Walker 1-800-252-6633 ellana.walker@alamode.com   Read more...

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...