Framework to Close Doors by Year-end

Framework, a Tarrytown, N.Y.-based technology company, was acquired last year by Bank of America, but now BoA has decided to cut its losses and shut the company down by the end of this year.A spokeswoman for BoA confirmed in an interview with Mortgage Wire that the lending institution has decided to close down the technology company. Framework provided an e-business platform in the form of its configurable enterprise software, called LendWare. With LendWare Workflow 3.0, Framework upgraded its Web-based software service component to enable the sharing of configuration and run-time information between different workflow engines. Earlier in the year the company announced plans to release an out-of-the-box version for smaller lenders because larger lenders were reluctant to buy bank-owned technology. (For more details, see the Nov. 8 issue of National Mortgage News.)