MDA Lending Solutions Upgrades ePolicy™ Workflow Software

WILMINGTON, Del.--(BUSINESS WIRE)--Wilmington, Del.-based MDA Lending Solutions, a provider of settlement services to the mortgage industry, announced the newest edition of ePolicy™, an automated product selection workflow system from MDA MindBox, a division of MDA Lending Solutions. The upgrade adds appraisal management functionality to comply with Home Value Code of Conduct (HVCC) regulations and improves the rules management architecture.

“HVCC requires that lenders order their appraisals from non-biased third-party sources”

ePolicy is a configurable software that enables lenders to more effectively manage business rules and credit policy in loan origination. With the recent adoption of the HVCC regulations, a managed appraisal portal was added to the workflow software, providing both regulatory compliance and process efficiency. The system enables mortgage banks and wholesale lenders to present a list of approved appraisers to originators based on business rules and filters to screen for cost, availability, location and certification.

“HVCC requires that lenders order their appraisals from non-biased third-party sources,” said Bill Richer, president of MDA MindBox. “The challenge lies in quickly identifying those appraisers who are qualified, affordable and eligible. ePolicy’s new managed appraisal portal takes the guesswork – and compliance risks – out of ordering appraisals. Lenders can screen and rate appraisers based on business rules, ensuring that originators have access to only the highest performing options.”

ePolicy also upgraded its rules management architecture, reducing maintenance requirements and improving the flexibility of the system to adjust to the constantly changing lending environment. The enhancements enable lenders to improve loan application cycle time and to reduce the expenses associated with settlement services. ePolicy standardizes the settlement product selection to match the needs of specific loan requirements and comply with credit policies and risk management guidelines.

About MDA Lending Solutions, Inc.

Wilmington, Del.-based MDA Lending Solutions provides advanced information solutions that can improve the decision making and operational performance of customers by reducing the time, cost and risks involved in real estate transactions. The company offerings include MDA DataQuick®, MDA MindBox® and traditional settlement services, such as collateral valuation, title and property search, flood compliance, residential credit and closing/settlement products. For more information, visit www.mdasolutions.com or call 888-299-8787.

MDA DataQuick® offers a wide range of information including property history and characteristics, sales and loan information, market valuation and neighborhood information. For more information, visit www.dataquick.com or call 888-604-DATA.

MDA MindBox® is a leading provider of advanced decisioning solutions featuring automated rules-based decisioning technology that optimizes customer interactions and streamlines back-end workflow and business operations for the mortgage lending community. For more information, visit www.mindbox.com or call 877-650-MIND.