Compliance systems

The number of misrepresentations in mortgage applications continued to decline in February, benefiting from lenders' increased spending on compliance, said First American Financial Corp.

LoanLogics has raised $10 million in new capital that the mortgage software vendor plans to use to support its growth.

Lenders can mitigate fair lending violations through employing technology and tools that shed light specifically on their blind spots, one major area of focus recently solidified by the Consumer Financial Protection Bureau.

Lenders are becoming more reluctant to share closing documents with real estate agents now that they have more responsibility for them, the National Association of Realtors claimed Thursday.

Opus Capital Markets Consultants, a unit of Wipro, has created a division for identifying operational and loan-level risks within a residential mortgage servicing operation.

SharperLending has registered its Appraisal Firewall software product as a lender agent with the Federal Housing Administration.

The Dodd-Frank Act is a burden on community banks and credit unions but regulators are struggling to quantify the costs, according to a report released Wednesday by the Government Accountability Office.

CoreLogic has agreed to buy FNC, a provider of real estate software, for $475 million in cash.

Ellie Mae has released an updated version of its mortgage management software, with updates on compliance and overnight rate protection for secondary marketing.

A plan by the government-sponsored enterprises to begin collecting the new Closing Disclosure data is designed to promote Fannie Mae and Freddie Mac's loan quality goals. But the initiative may also prompt broader use of e-signatures and paperless processing.