heard street ON THE
Our Heard on the Street column is a chronicle of events, changes and passages in the lives of the people and companies shaping the mortgage industry.
DocMagic Achieves 100 Percent Uptime
MAY 2013 n Connecticut Mortgage Professional Magazine n
NationalMortgageProfessional.com
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DocMagic Inc. has announced that the company has maintained a perfect 100 percent uptime record for the past 120 days. DocMagic provides system status information on its Web site in real time. Over the past 12 months, DocMagic has maintained an unparalleled 99.989 percent uptime record. That period of time includes the company’s move to their new location and switch-over to the new state-of- the-art technology center resulting in the new 100 percent uptime record. “Some service providers and IT executives will say that 100 percent uptime is an impossible standard,” said Dominic Iannitti, CEO of DocMagic. “I can assure you that it is possible and meeting this standard involves investment in infrastructure, superior staff training, constant monitoring and an unwavering commitment to the task.” When it comes to measuring online service reliability, the terms uptime and availability are often used interchangeably. However, they are not always the same thing. Often providers that measure uptime only check to see if a server is responding to pings on the network. In some cases, a server may be “up” but unable to perform the service for which it was designed.
GSF Partners With TRUSTe Privacy Management Firm GSF Mortgage has announced that it has joined forces with global privacy management solutions provider, TRUSTe. TRUSTe enables multinational companies to safely and efficiently handle the customer data powering their online businesses including advertising, cloud services, mobile applications and websites. The online consumer protection company works with several recognizable companies, including Apple, Disney, HP and eBay.
As more and more companies move their businesses online including GSF, the company recognized the need to ensure Web user privacy, especially in the home mortgage lending space. While GSF, which offers a variety of mortgage tools and online lending options on its Web site at www.gogsf.com, has always practiced secure lending practices, the partnership with TRUSTe adds yet another layer of protection against the breach of privacy. Customers can rest assured that their privacy and data is secure with GSF, as all online transactions conducted through the company will now be monitored by the third-party, TRUSTe. “Our mission is—and has always been to put our customers at ease throughout the mortgage lending process, whether it’s through our low rates, flexible lending options, or through our online tools,” said GSF President Chad Jampedro. “We are extremely excited to partner with TRUSTe, a step that we feel will help us continue our legacy as a transparent and trustworthy home mortgage provider.”
WCS Lending Revamps Its Wholesale Lending Division WCS Lending has revamped its wholesale lending division as part of its plan to significantly increase the company’s loan volume and customer base throughout 2013 and 2014. The re-introduction of WCS’ wholesale program includes expanded program offerings, improved pricing, and redesigned infrastructure, with the ultimate goal of establishing itself as a vital part of the mainstream wholesale mortgage market and becoming the most trusted partner for wholesale lending within the origination community. WCS’ wholesale division’s new prod-
uct line includes a wider range of mortgage products. In addition to conventional, FHA and VA loans, WCS is one of the few wholesale lenders to offer USDA loans. The company will also be adding portfolio jumbo loans to its offerings within the next several weeks. “We’ve got a plan that takes great care of our loyal, longstanding customers, while allowing us to quickly expand into more markets and still deliver on our trademark quality, service and speed,” said Rouvaun Walker, WCS’ wholesale divisional manager in California. “I think the mortgage broker community is going to be shocked at how much of a difference it makes when a wholesale lender invests in the best technology, hires more knowledgeable and seasoned staff, and offers a full suite of loan products.” As part of its growth initiative, WCS Lending has reinforced the division’s infrastructure by creating the policies and workflow that will support exponential growth and implementing new loan origination and accounting software. Industry veterans Sharon Bitz, the company’s national head of wholesale lending who has 35 years of experience, and California divisional manager Walker, who has 22 years of industry experience, are guiding the expansion of WCS’ wholesale division. “There is a demand for the products, service and expertise WCS provides,” said Bitz. “Loan originators need wholesale lenders that function like true partners; otherwise they can end up losing a lot of time, or even entire transactions. All of the changes we’ve made have enhanced our ability to function as a true partner to the origination community. We’re looking forward to the growth we have planned for the next two years.”
United States Appraisals Partners With Collateral Risk Network United States Appraisals has announced that it has joined the Collateral Risk Network (CRN). Composed of chief appraisers, collateral risk managers, regulators and valuation experts, CRN is focused on resolving the risk and compliance challenges facing the collateral risk profession. With over 400 members represented by leading AMCs, lending institutions, Wall Street, Fannie Mae, Freddie Mac, The Veteran’s Administration, the Federal Housing Administration and appraisers, CRN engages all stakeholders in open dialogue to find solutions to industry issues. “We are pleased to join an organization that utilizes the diverse backgrounds of its members for the common good of the industry,” said Aaron Fowler, president of United States Appraisals. “Obviously, risk and compliance are hot topics in the mortgage industry. As we grow, we wanted to ensure our involvement in the discussions that shape our industry. We look forward to working with our peers and industry partners to identify and resolve these issues.” Joan Trice, CRN founder and managing director, said, “We welcome United States Appraisals to the CRN group. We are always excited to have a growing organization bring a fresh set of ideas and a new perspective to the table.”
First Guaranty Mortgage Moves Into Larger Facility First Guaranty Mortgage Corporation (FGMC) has relocated its national headquarters to a larger facility in the Tysons Corner neighborhood of McLean, Va. FGMC is a
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