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» VISIT US ONLINE @ DSNEWS.COM 87 NORTH CAROLINA Arch MI Announces Integration with Mortgage Cadence LFC Arch Mortgage Insurance Company (Arch MI) recently announced its integration with Mortgage Cadence's Loan Fulfillment Center (LFC). With the integration, users of LFC—Mort- gage Cadence's proprietary loan origination system—can now instantly obtain quotes from Arch MI's RateStar. e LFC will auto- matically receive and store the Arch MI Rate Quote Summary document for future reference. "Arch MI is pleased to offer expanded access to our innovative products on Mort- gage Cadence's LFC," said Chris Hovey, EVP and COO of North Carolina-based Arch MI. "LFC users can now order non-delegat- ed MI and access RateStar pricing without leaving the platform. Our integration enhance- ment exemplifies our commitment to providing seamless connectivity that improves business efficiencies for processors and underwriters." e integration also provides LFC users a new option to order non-delegated MI. In addition, users can deliver non-delegated loan documents to Arch MI without using external websites. According to Paul Wetzel, EVP of Product Management at Mortgage Cadence, his company is "committed to providing a variety of third-party integration options to best serve our clients' long-term needs. We are pleased to work with Arch MI to further our commitment to continually improving our customers' access to highly robust vendor products and services." Brady & Kosofsky Advances Remote Closing Transactions e law firm of Brady & Kosofsky has developed an attorney-supervised remote clos- ing protocol, which allows the lender to close anywhere the consumer directs. e workflow used by the firm is nearly the same that's used on traditional transactions, only with a com- puter screen instead of a stack of papers. Today nearly 80 of 100 North Carolina counties, can and do perform electronic recor- dation of land records, according to a Brady & Kosofsky company press release. ese 80 counties include all of the major metropolitan centers and 90 percent of the population of North Carolina. Local officials have welcomed the assistance of DSOS, the technology part- ners, and Brady & Kosofsky, PA., in executing and testing the eRecording methodologies. e state's first eMortgage purchase trans- action was recently completed, with North State Bank; Brady & Kosofsky, PA; Doc- Magic; Simplifile; and World Wide Notary working together to close the deal. In a matter of minutes, all met with an eSigning professional who was also an eNotary at their real estate broker's office. An attorney from Brady & Kosofsky was present via video conferencing technology to answer questions and supervise the transaction. A few days later, the buyer met with the same eSigning professional, and after the first document was presented, the transaction was fully consum- mated, recorded and funded. e entire process took 46 minutes. Due to North Carolina law and the legal framework of the recording statutes, it will typically take from 45 minutes to 2 hours after consummation to receive funding approval from the lender, update the title, and record the deed. e utilization of available technology by a settlement agent who understands the law and how to use the technology makes these quick, efficient transactions available to everyone. Arch MI, OpenClose Offer Instant MI Rates Arch Mortgage Insurance Company and OpenClose announce in August an integration aimed at providing "more competitive, sophis- ticated, and dynamic MI pricing solution than conventional rate sheets," according to Chris Hovey EVP and COO at Arch MI. Arch MI, the flagship private mortgage insurance provider of Greensboro, North Carolina-based Arch Capital Group, and West Palm Beach, Florida-based OpenClose, are collaborating to offer Arch MI RateStar pricing information within the OpenClose LenderAssist loan origination system. "Put simply, this integration eliminates manual steps and allows our customers to tap Arch MI's RateStar solution to price mortgage insurance coverage based on loan risk, which ultimately helps originators offer eligible bor- rowers the best pricing for their specific loan scenario," said Vince Furey, SVP of Lending Solutions at OpenClose. "Both OpenClose and Arch MI are committed to maximizing value for lenders, which this integration showcases." Lenders can access RateStar pricing infor- mation in LenderAssist "at the press of a but- ton," according to the two companies, and then view direct comparisons on various products and pricing based on individual loan risk. e pricing information is delivered in seconds and then stored in the LOS. "We are pleased to be the first MI company to partner with OpenClose," Hovey said. "Customers will not only be able to quickly ob- tain RateStar quotes from within OpenClose's multi-channel LOS but also skip the cumber- some re-entry of data so that they can increase their productivity," he said. Arch MI offers mortgage insurance in all 50 states, the District of Columbia, and Puerto Rico. North Carolina County Targets Underwater Borrowers Mecklenburg County in North Carolina is issuing a warning to homeowners who are behind on their property taxes. According to the searchable map of properties that the county can foreclose on, 1,641 owners are in danger. According to Mecklenburg Tax Collec- tor Neal Dixon, the county has only had to foreclose 36 to 40 times in recent years. But on September 12, residents five or more years past due were notified of their inclusion on the map, which is intended to find bidders for their properties. "We do think there are properties that can be useful to a new owner," Dixon said in an earlier report warning of the forthcoming decision. "Addressing these delinquencies will take property where taxes have gone unpaid for various reasons and potentially turn it into property that will generate tax revenue again." e Office of the Tax Collector worked with two legal services firms and one real estate service firm to complete the process, with the law firms ready to handle collections while the real estate firm prepares to market the fore- closed properties. If a property has no takers, the county plans to bid on the property itself. e map, which any party can access online, includes land only, residential with structure, and commercial with structure foreclosures. Once a user clicks on a property, they can see the address, property description, amount due, assessed value, number of bills, and attorney assigned to the property. e county's policy is to work with taxpay- ers who have trouble paying their bills, but due to state law, the county cannot consider demographic or socioeconomic factors in going

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