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» VISIT US ONLINE @ DSNEWS.COM 87 NORTH CAROLINA First API for Cash Flow, Premiums Announced RoundPoint Mortgage Servicing Corpora- tion and Compass Analytics have announced the industry's first API to provide cash flow based, loan-level servicing release premiums (SRP) co-issue bids. In another initiative to improve the ac- curacy of MSR pricing and duration along with extending integration further into capital markets, Compass Analytics added automated loan-level SRP co-issue bids to its library of APIs and bid automation. RoundPoint, located in Charlotte, North Carolina, will private-label Compass' API and bid-automation offerings to integrate and automate their co-issue bids and commitments to the industry. Lenders, through their internal systems, hedge advisors, or LOS systems can now inte- grate to RoundPoint to seamlessly receive and commit live co-issue SRPs as part of their best execution processes. Sellers or their partners can employ the same workflow currently em- ployed by the industry for mini-bulk bidding and will also have the option of integrating into RoundPoint's BidStream API. "e new live SRP quoting integration is an exciting leap in automating the best execu- tion experience for the co-issue workflow," said Mike Duncan, Compass Product Manager. "It's a win for both the investor, who now has more opportunity to price more granularly and in real-time and for the seller, who now has a simplified workflow and one that does not require managing complicated pricing grids." "By offering SRPs in real time through utilizing the Compass Analytics platform, we are able to inject more certainty into the process, thereby giving clients and prospective clients a way to secure the best price possible for their loans," said Saket Nigam, Vice President Capital Markets at RoundPoint. "In keeping with our corporate culture of creating innovative mort- gage solutions, we are the first co-issue buyer to offer this technology. We're also excited about the future potential of this tool and applying it to other processes such as boarding loans which could create a more seamless delivery process and speed up closing and funding times." BofA Offers New Mortgage Solution On the heels of its recent $5 billion com- mitment to help more than 20,000 individuals and families buy a home, Bank of America is offering a $0 Lender Origination Fee for clients who close an FHA, VA, Affordable Loan Solution, or Freddie Mac Home Possible mortgage with the bank. is offer is available on first mortgage ap- plications taken between April 15 and October 31, 2019. To reduce upfront costs further, Bank of America said that the limited time offer can be combined with: » America's Home Grant program: is program has been expanded and now offers a lender credit of up to $7,500 that can be used towards nonrecurring closing costs, like title insurance and recording fees, or to permanently buy down the interest rate. e funds, which do not require repay- ment, are available in 39 markets today and will soon be nationwide. » Afordable Loan Solution mortgage: is fixed-rate loan for low- and moderate- income borrowers offers a competitive rate with a down payment as low as 3% and no mortgage insurance. Today, 90% of these loans are to first-time homebuyers. » Freddie Mac Home Possible mortgage: is is a fixed-rate loan with a down pay- ment as low as 3% and lower-cost mortgage insurance. » Down payment and cost savings programs offered by state and local agencies, nonprof- its, and employers. Recently, Bank of America announced a $5 billion Affordable Homeownership Initiative that is aimed at helping more than 20,000 in- dividuals in low- and moderate-income com- munities realize their goal of homeownership. "We know many of our clients want the power to own their first home, which can sometimes be challenging. One of the ways we're helping is through our suite of affordable homeown- ership solutions and professional resources, which aid them in overcoming barriers and put sustainable homeownership within reach," said D. Steve Boland Head of Consumer Banking at Bank of America. e company will commit this additional $5 billion over the next five years to its Bank of America Neighborhood Solutions program. Reliant Bank Chooses RoundPoint as Subservicer RoundPoint Mortgage Servicing Cor- poration (RoundPoint) has been selected by Reliant Bank as a subservicer. RoundPoint services loans for a variety of According to Roy Diaz, Managing Shareholder at SHD Legal Group P.A., this reversal is "a very interesting turn of events." "e Florida Supreme Court saw a major shift earlier this year with the appointment of three Justices who replaced Justice Barbara Pariente, Fred Lewis, and Peggy Quince, each having reached mandatory retirement age," Diaz told DS News. "e outgoing Justices were considered liberal in their views and were replaced by Justices who are viewed as conservative. In his appointment, Gov- ernor Ron DeSantis (R) made it clear that he prefers a philosophy of judicial restraint as opposed to ' judicial activism'. In revers- ing the January 4, 2019 opinion due to lack of jurisdiction, the Court has reset the issue which will find its way back to the Court eventually. When it does, it will be evalu- ated by a very different Judiciary who many believe constitutes the most conservative Florida Supreme Court in decades." GEORGIA Connecting Investors With Foreclosure Auctions Verifyd's new bidder app will allow pro- spective buyers to participate in foreclosure auctions remotely. "For over 100 years, the foreclosure process in our state, and country, has barely changed, completely shutting out technol- ogy," Verifyd CEO Mike Watkins said in a release. "We all live busy lives today, which means many interested buyers miss out on foreclosure purchases due to their inability to be physically present at the courthouse. It has been our dream to open this process up in a way that is both legally compliant and accessible to people everywhere." "I personally believe that the 2008 financial crisis would have been averted if this technology was in place at the time," Watkins said. "By making sure that the foreclosure auction process is transparent and open to all those interested in buying the property, the lenders are ensured they receive fair market value for the property. Really, it's a win-win for all parties in- volved." e app, currently available only for the Atlanta area, is set to eventually roll out across the rest of the state. Buyers can bid without participating as well, by setting a maximum bid before the auction begins, as the app will bid in their place automatically.

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