ReleaseLINK 2.0 offers the following enhancements, which are automatically available to NTC lien release clients:

1. Exception Handling Queue

a. Exception Categories. New filters allow the user to view categories of exceptions at a glance, such as Chain of Title Exceptions, Data Discrepancy, Exceptions Requiring Research, Incomplete Initial Order, etc. This helps sort and handle related exceptions together.

b. Expanded Exception Types. This extensive list reflects the exact array of missing information, such as Recording Info and Legal Description, Legal Description and PIN, missing Assignment, etc. You can sort and filter by any exception type. Clients can also define which types of exceptions will appear on ReleaseLINK for them to process. This is especially helpful if auto-research is enabled on certain types of exceptions and one does not want to approve each research file.

c. Clearing Exceptions by Type. When you select “Edit” on a loan in the queue you will see a window unique to that specific exception type. It shows what is missing and gives you a tool to clear that type of exception as well as options to submit that type of exception back to NTC for handling. Types of exceptions can vary widely in regard to what is needed to clear them, as well as what type of research options may be applicable. With ReleaseLINK 2.0, you can easily address all types of exceptions.

2. Other Enhancements

a. Import Loans. You now have the ability to import loans from an excel spreadsheet directly into ReleaseLINK for Full Order Entry or Partial Order Entry.

b. Input By Field. When an order is placed in the system, the Process Queue now displays the user who entered the order, easily distinguishing between NTC employees and client entry.

c. Rush Orders. You can select Rush processing when entering an order that needs immediate processing.

d. Delete. You can now delete an order from the ReleaseLINK Full Order Entry or Partial Order Entry queues.

e. Input Notes and Instructions. You can now enter a note when you place an order or perform full entry to relay key information to NTC regarding that file.

f. Loan Count in Queues. You can now see a count of how many loans are in each queue (Exception Queue, Full Entry Queue, Place Order Queue, QC Queues, etc).

g. Unlock Orders in ReleaseLINK. When a loan is mid-entry in the ReleaseLINK system it is occasionally locked by the system. As necessary, you now have the ability to unlock a loan, even if you were not the original data enterer.

h. Upload Images. When you enter an order you now have the option to upload an image that corresponds to the order.

i. Upload Legal Description. You can now upload an image of a lengthy legal description instead of having to type it out.

j. County Requirements at a Glance. If there are unusual or special requirements for a particular jurisdiction a hyperlink appears at the top of the entry screen to provide additional details.

k. Interface Improvements. Many user requests and features have also been addressed to save input time and enhance user experience.

For a Web demo of the new software, click here.

Disclosure: NTC is an RGA client.

Kaleidico is one company I’m very pleased to see blogging. I’ve been following Bill Rice for years now and find that he consistently adds value. While he’s been posting content on a number of New Media platforms, his firm only recently launched its own blog. In his words:

I’ve been blogging since 2003. I’m a huge advocate of social media. I’ve consistently been an early adopter. However, we’ve never had a blog on Kaleidico.com. I guess it’s true the auto mechanics often has the most neglected car on the block.

I’m glad to see the company is fixing that problem and that Rice will be putting more content onto his company’s own social media property.

Kaleidico is in the lead generation space, if I had to generalize, but Rice speaks out on a number of interesting issues. He was recently elected to his local school board and so you’ll often find him talking about politics, which, when you think about, it is right on par with our industry right now.

If you start reading the blog, be advised that the company will expect to hear from you. They understand that new media is about starting conversations, so don’t be surprised if they call you out. Don’t worry. It’s a good thing.

I suggest you sign up to receive his RSS feed. You can still follow Rice and his team in a number of other places. I enjoy following him on Twitter via @billrice.

This is excellent timing for a new blog in the space. This year saw the Home Valuation Code of Conduct shake up the business and the reverberations are still working their way through the industry. Next year promises to be another difficult year for appraisers as they work to remain competitive, while being pushed further from the loan originators who rely on their work. Appraisal Management Companies are hot to take up the slack, but contention between AMCs and appraisers is causing sparks.

It appears that FNC will be entering the fray. In an early post, Robert Dorsey, Chief Data and Analytics Officer and co-founder of the company, writes that the company is hearing from mortgage originators that they are receiving appraisals from appraisers who are operating outside their regions of competence.

“The downturn in the housing market has caused a major disruption in the appraisal process. New regulations and downsizing by the lenders has resulted in many lenders using larger appraisal firms or vendor management companies and relying on them to send the best appraiser to the property. This is not always happening. Appraisers are being assigned to properties without regard to their knowledge of the neighborhood, and the result is that values are being returned that don’t accurately reflect the market value of the property.”

This is troubling, if what FNC is hearing on the street is actually happening. But a press release issued earlier this month by the Title/Appraisal Vendor Management Association raises some doubt.

“The typical driving distance traveled by independent appraisers, retained by the nation’s largest appraisal management companies (AMCs), averages 13 miles in urban and suburban areas this year, according to a new survey conducted by the Title Appraisal Vendor Management Association (TAVMA).”

It seems realistic to assume that if the appraiser is only driving 13 miles from a central location, there is a good chance they should be competent to handle the work.

TAVMA’s information relates only to appraisers hired by AMCs and it is possible that lenders who don’t work with AMCs, now grappling with a job that was formerly handled for them by mortgage brokers, are having trouble getting their orders routed to the right appraisers. FNC says its technology can solve the problem by using geocoding to track properties appraisers that use its system have worked on in the past, creating a method that lenders can use to assign work closer to the appraiser’s area of expertise.

We expect more of these problems to crop up next year and have already subscribed to FNC’s new blog to help us track this part of the industry.

Disclosure: RGA offers communications support to TAVMA and its executive director, Jeff Schurman. The organization retains another agency to handle certain public relations duties, including the press release referenced in this blog post.