Dynatek Partners with Flatirons Capital Management
Mortgage software developer has Plug-In to mortgage pipeline risk management service
Livonia, Michigan, June 25, 2007 – Dynatek, Inc., an established leader in revolutionizing mortgage automation, today announced that its MORvision mortgage automation system was certified for Flood Request v2.3.2 - Export and Flood Response v2.3.2 - Import on February 1, 2007. Dynatek is among the first in the industry to receive this certification, and is the only company to be certified in all four categories under the MISMO MXCompliance Program.
MXCompliance requirements for the MISMO Flood transaction allow leading industry participants to become a credible source for the transaction that is used for flood zone determinations. With this "MISMO-compliant" stamp of approval, entities like Dynatek can differentiate themselves within the request for proposal (RFP) process by illustrating their commitment to free and open data standard transactions, demonstrating overall flexibility and showing that they passed a third party test.
Dynatek also demonstrates leadership in this area through their executive participation in MISMO. Both Todd Luhtanen, Dynatek president and CTO, and Denise Lawrence, Dynatek senior business analyst/compliance, have played key roles in MISMO since the organization’s inception.
“Dynatek has taken an active role in MISMO because we strongly believe that data standards are a critical component in simplifying the lending process," said Todd Luhtanen, Dynatek president and CTO. “Receiving MXCompliance Certification in all four categories solidifies our commitment to provide an integrated lending experience for our customers and underscores our support for open connectivity within the industry.”
Since launching MISMO eXtensible Markup Language (XML) Compliance(MXCompliance) for the credit reporting transaction in 2005, MISMO has expanded the MXCompliance Certification to include three more categories: Mortgage Insurance (MI), Automated Underwriting Services (AUS), and now Flood.
Dynatek was one of the first to earn certification for credit in October of 2005, followed by MI in January of 2006 and AUS in April 2006. Dynatek is now leading the MISMO certification effort by becoming the first and only company to hold MXCompliance certifications for all four products available from MISMO.
As MISMO expands the MXCompliance Program for other transaction areas in the future, Dynatek will continue to provide input when asked, and plans to seek certification for all relevant origination-related transaction sets as they become available in the future.
For more information on MISMO, visit www.mismo.org.
For more information on MXCompliance, visit mxcompliance.mismo.org .
About Dynatek, a leader in mid-market mortgage automation solutions, today announced the release of a new Plug-In to Flatirons Capital Management, a provider of high quality mortgage pipeline risk management and reporting services. The Plug-In allows Dynatek’s MORvision customers automated access to Flatirons’ customized risk management service. MORvision lenders that maintain their own warehouse line will now be able to utilize Flatirons’ services to help reduce risk within their hedging program and maintain better control over their future revenue stream.
“Dynatek is very excited about this Plug-In as it expands the number of services available to MORvision users and gives them access to a very valuable tool,” said Dynatek president and CTO, Todd Luhtanen, CMT. “Risk management and profit margins are especially important in today’s marketplace so we are pleased to be able to offer integrated services that can help our customers neutralize risk and realize additional gains.”
The Flatirons Capital Management Plug-In helps automate communication between MORvision and Flatirons to ultimately return a number of reports. Report options include pipeline mark to market, shock analysis, pipeline loan-level analysis, mortgage trade detail, and option position detail. The recommendations contained in the reports will help MORvision customers with FASB133 accounting issues. For those selling on a best-efforts flow basis, the Flatirons Plug-In will also make it easier for lenders to take advantage of additional investor delivery channels including assignment of trade, bulk mandatory, and securitization to the agencies.
“I am really excited about the Dynatek Plug-In. The ability to formally integrate the transferring of data from the MORvision system to the Flatirons’ risk management system is truly unique,” said John Ohman, Flatiron CEO and founder. “Flatirons is committed to provide a variety of services for customers. Whether clients choose to run reports themselves or use our consulting services, managing their revenue stream has never been easier.”
Additional enhancements are planned for the Flatirons’ Plug-In to further automate the process. Updated Plug-Ins are posted to the MORvision customer-only website for immediate download. This process takes full advantage of Dynatek’s award-winning Plug-In technology and integration infrastructure, which allows the company to provide updates at any time without the need to release a service pack.
Pipeline risk management is a new type of Plug-In for Dynatek, bringing the total number of categories to 18 and the total number of Plug-Ins to 130. Dynatek’s future plans include expanding the number of Plug-In Partner Network members, as well as adding new outsourcing services made available through the MortgageHub family of companies.
About Dynatek
Founded in 1986 and headquartered in Livonia, Mich., Dynatek has been a leader in mid-market mortgage automation solutions for retail and wholesale lenders for 2 decades. Dynatek’s MORvision is a flexible solution that automates everything from point-of-sale and web origination through processing, underwriting, closing, secondary tracking and delivery. Dynatek is attributed with a long list of industry innovations including their award-winning Plug-In Partner Network, which seamlessly connects MORvision users to industry partners with just one click; and their unique Control Center, which offers capabilities for eMortgage, business process management, and multi-client support.
In 2007 Dynatek was acquired by ISGN to become an integral part of the MortgageHub family. This partnership provides Dynatek customers with seamless access to an even broader array of end-to-end mortgage products and services. For more information on Dynatek or to learn more about the benefits of MORvision, call 800.462.5545 or log on to www.dynatek.com.
About Flatirons Capital Management
Flatirons Capital Management has been maximizing profitability for mortgage bankers since 1996. Founded to meet the demand for affordable, high quality risk management and reporting services, the company provides a full spectrum of secondary marketing solutions for its clients. Today, FCM partners with mortgage bankers of all sizes to successfully execute risk management strategies for greater efficiency and profitability. For more information on Flatirons Capital Management, call 320.230.6500 or log on to www.flatironscapital.com.
|
