Ellie Mae

Fiserv has acquired the assets of PCLender, a mortgage loan origination system vendor based in Reno, Nev.

Ellie Mae had second-quarter net income of $18.8 million, a 77% increase over the $10.6 million in the same period last year largely due to a tax accounting change.

Binh Dang, the co-founder and former president of LendingQB, is seeking a court to force MeridianLink, the loan origination system's parent company, to dissolve.

The share of closed purchase loans remained flat in June, affected by the lack of homes for sale, according to Ellie Mae's Origination Insight report.

The latest readings on mortgage credit availability show slight improvement month-to-month, reversing course after two consecutive declines in April and May.

The purchase mortgage share increased 15 percentage points in the first five months of 2017 to 68% of all closed loans in May, according to Ellie Mae.

Mortgage credit availability declined in May as lenders reduced the number of government-guaranteed products they market by nearly 2%.

Homeowners insurance agencies are embedding their policy-underwriting technology into mortgage companies' origination and servicing systems in a bid to chase the same customers together.

The time needed to close a mortgage improved nine days since the start of the year as the market has shifted to doing more purchase loans.

Mortgage credit availability declined in April as lenders cut back on the number of conforming products they offered.