QuestSoft Corporation announced it has added the ALTA Registry check to its growing list of Compliance EAGLE subscription services. The ALTA Registry functions as a searchable online database of underwriter-confirmed title agent companies, real estate attorneys and underwriter direct offices.

“The ALTA Registry identifies a title vendor with unprecedented accuracy and is a great fit for real-time mortgage compliance,” says Leonard Ryan, President of QuestSoft. “This makes our results more accurate and further automates the range of verification checks Compliance EAGLE provides lenders. The ALTA Registry includes a unique ID that allows us and our lender customers to identify a title vendor without relying upon antiquated processes while at the same time solving decades old verification headaches.”

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Because there had previously been no unique ID number used across the industry to help match provider records in different databases, communication has often been difficult and costly for the title industry and its customers. This challenge can also impact compliance and vendor oversight requirements as well as the need for collaboration throughout the transaction. The ALTA Registry addresses this by creating a unique 7-digit identifier -- the ALTA ID -- which is automatically assigned to each new database record as a permanent ID number and is never changed, reassigned, or reused.

Compliance EAGLE is the only digital compliance & risk management platform allowing mortgage lenders to check regulatory red-flags prior to funding. This includes Instant HMDA, Instant MCR, Flood PreCert, Secondary Market Saleability Review, LEF Review and Exclusionary List checks. Adding the ALTA Database brings another level of assurance to lenders.

“Compliance EAGLE relies upon good, clean data to provide lenders with pre-closing checks on TILA, QM, RESPA, exclusionary list, fraud reviews and other critical regulations,” added Ryan. “The ALTA Registry enhances this by ensuring that a title vendor's title insurance underwriters have confirmed their individual information before it is published in the ALTA Registry.”

Javelin Strategy & Research today announced the hiring of consumer finance and fintech expert, Austin Kilgore. In his new role, Kilgore will lead Javelin's expansion into Digital Lending. After Kilgore will advise clients on emerging technologies and strategies that provide an exceptional experience and deliver faster and more accurate underwriting and portfolio management decisions across mortgage, auto, student and personal loans.

Javelin Strategy & Research

Financial services companies are increasingly seeking out digital strategies to lower compliance and customer acquisition costs while enhancing the borrower experience. Javelin's Digital Lending Practice provides actionable insights into these trends with a variety of quantitative and qualitative research products, including proprietary data, competitive benchmarking, comprehensive reports and other analytical content.

The firm also offers a suite of custom research and marketing services, including in-depth white papers, live and virtual presentations, consulting engagements and other bespoke resources to help clients assess their strategic positioning and grow their business.

"Javelin has built its reputation around objective and independent data, analysis and insights," said Al Pascual, Javelin Strategy & Research Senior Vice President, Research and Head of Fraud & Security. "Austin's breadth of knowledge and unique perspective on the intersection of lending, automation and innovation will enable clients to better navigate the nuances of these highly complex industries."

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Before joining Javelin, Austin was an award-winning journalist, covering mortgage finance, real estate, fintech, payments and other areas of financial services. Most recently, he was the editor in chief of National Mortgage News and a contributing editor to American Banker, where he oversaw SourceMedia's coverage and analysis of mortgage finance and real estate. Previous roles at SourceMedia include managing editor of PaymentsSource and Mortgage Technology. Before that, he was an editor and reporter for HousingWire.

"As lenders and fintech firms grapple with compliance risk, shrinking margins and greater demand for a seamless experience, the technology table stakes have never been higher," Kilgore said. "Javelin's mission aligns with my own personal passion for financial services innovation and it's a privilege to take on this new role."

American Mortgage Consultants, Inc., a leading nationwide residential and consumer loan due diligence, quality control, securitization review, MSR review, advance assessment, servicing oversight, consulting, and technology provider, has acquired String Real Estate Information Services, LLC (“String”), a leading provider of title search outsourcing services. This Strategic expansion adds title search capabilities and a variety of mortgage business process outsourcing capabilities to AMC’s core competencies.

“The combination of String’s proficiencies with the market presence, relationships, and technology of AMC will bring unique capabilities and talents for the benefit of our clients”

“The acquisition of String further enhances AMC’s ability to offer a comprehensive set of title quality control services to participants in the secondary mortgage market with the addition of title search services and other mortgage business process outsourcing capabilities,” said AMC CEO Michael Franco. “We realize that in today’s mortgage market, cost efficiency and centralization of vendor offerings are critical. Combining String’s title service offerings and labor efficiencies with AMC’s innovative technology solutions will provide comprehensive, high-quality and cost-effective solutions for AMC’s clientele.”

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String will continue to be led by its existing senior management team, including Prashant Kothari, who will continue as its President. String has approximately 650 employees in the United States and in India. Although String will be a wholly-owned subsidiary of AMC, it will retain its separate branding.

“The combination of String’s proficiencies with the market presence, relationships, and technology of AMC will bring unique capabilities and talents for the benefit of our clients,” stated Kothari.

In addition to String, AMC acquired Meridian Asset Services, LLC in January 2019. This acquisition marks the sixth services firm acquired by AMC since December 2015. “These acquisitions, along with organic growth and IT development, allow us to support secondary market participants throughout their operations lifecycle inclusive of document hosting, transaction data rooms, rate lock and transaction management systems for managing or selling into loan aggregators, due diligence, title search and quality control reviews, broker price opinions, collateral reviews, side letter management, curative actions, REO management, servicing surveillance and quality control, and deal agent services,” stated Franco. “As the largest provider of third-party review services for private label securitization, we believe AMC is uniquely positioned to satisfy a diverse set of client needs already; however, we will continue to examine opportunities to enhance our product and technology offering depth.”