MORTGAGE INDUSTRY SOFTWARE SOLUTIONS PROVIDER LAUNCHES FHA LENDING OPTIMIZATION PRODUCT
DENVER, June 24, 2009 – Denver-based Motivity Solutions, Inc., which provides a Business Management Platform for mortgage bankers, recently launched its latest product, Movation FHA SafeGuard, at the MBA Government Housing and Loan Production Conference in Washington, DC. FHA SafeGuard is a software solution that automatically compares the information in an FHA lender’s system of record against government systems at key milestones in the FHA loan manufacturing process.
FHA SafeGuard provides a safety net to catch any oversights within a lender’s internal checks and balances and acts as a monitor of changes in government policies so that lenders can rest easier and be more confident at processing government loans. FHA SafeGuard checks at key milestones MIP factors, CAIVRS, GSA, and LDP websites, FHA County Loan Limits, Mortgage Credit Rejects, and Sponsor ID’s; among many other automatic checks. FHA SafeGuard can also submit loans for FHA insuring automatically upon funding, saving mortgage bankers time, money, and eliminating potentially costly errors.
“The genesis of this product goes back to our days as a top 10 FHA retail mortgage bank. We were always looking for ways to eliminate government penalties and operate more efficiently. Since we have the Movation Business Management Platform built, which included the technology for FHA SafeGuard, it made all the sense in the world to offer SafeGuard as a separate product. It is a solution that I wish we would have had with our mortgage bank,” said Tyler Sherman, CEO of Motivity Solutions.
“The response from lenders at the Government Housing conference was tremendous,” said Will Atencio, executive vice president of marketing for Motivity Solutions, “and has led to agreements with top FHA lenders. They really understood the value immediately having struggled through what has become an extremely manual process – wasting valuable human resources that could be better utilized elsewhere, and still having to pay penalties,” said Atencio.
FHA SafeGuard begins by comparing the data in a lender’s system of record at key milestones, based on Best Practice Business Rules founded on FHA lending guidelines and Mortgagee Letters, against what is in FHA’s systems. As errors and negative results are identified, FHA SafeGuard sends Exception Reports to the right personnel, at the right time, for immediate action. Also, as loans are funded, FHA SafeGuard then submits the loan to FHA for insuring based on the information in the lender’s system of record.
“Upon implementation, FHA SafeGuard did some very important things for us,” said Calvin Hamler, CEO and Managing Member of Denver-based mortgage banker Assurity Financial Services, LLC. “We were able to instantly identify which loans were being shopped by brokers, easily corrected any loans that required changes to their MIP calculation factors, and eliminated the risk of having negative CAIVRS results show up after initial checks. FHA SafeGuard provided immediate ROI within the first 24 hours of implementation and has been a valuable safety net as our FHA business continues to grow,” said Hamler.
For more information on Movation FHA SafeGuard, please visit www.fhasafeguard.com or call 800.411.5541 ext. 308.
About Motivity Solutions
Motivity Solution is the award winning creator of mortgage centric, culture changing technology. Our innovative Movation Business Management Platform helps lenders get more business, and get more out of their business, through revenue-generating customer relationship management, performance-driving business intelligence, and profit-accelerating innovative solutions. This unique combination elevates the success of mortgage banking companies by establishing a performance-driven, self-competitive, proactive, accountable, and self-compliant culture. For more information please visit motivitysolutions.com or call 800.411.5541.
About the Movation Business Management Platform
Movation is a Business Management Platform that combines existing systems while filling the gaps and optimizing business processes. By connecting disparate technology and plugging into existing systems, Movation will maximize the insight and control over an entire enterprise. Movation also provides a real-time view across an entire organization by turning multiple data sources into actionable information through dashboards, scorecards, and intelligent reporting. Movation further optimizes business processes through automated workflow and activity queues, a business rules management system, document imaging and content management, and robust enterprise relationship management functionality. For more information call 800.411.5541 x308 or visit www.movationnow.com.
About Movation FHA SafeGuard
Designed by successful FHA lenders, Movation FHA SafeGuard automatically compares the information in a lender’s system of record against government systems at key milestones in the FHA loan manufacturing process. Combined with pre-configured best practice FHA Business Rules, FHA lenders can avoid paying penalties, operate more efficiently, and make sure their loans are compliant and in sync with FHA’s systems.