Mortgage technology

Donald Trump’s stunning upset in the presidential race is likely to embolden his followers to push for changes to Internet law that could significantly alter how financial technology is conceived, built and delivered to market.

Fannie Mae's new representation and warranty relief offers lenders a long-awaited incentive to use its automated loan validation technology. But is it enough for lenders to make the necessary technology updates and process changes to implement the tools?

Can some of the top names in mortgage lending outdo online lending startups in head-to-head competition? We're about to find out. Wells Fargo, Quicken Loans and SunTrust have all entered the digital lending business, putting early entrants on the defensive.

Bethpage Federal Credit Union, Holston Methodist Federal Credit Union and United Heritage Credit Union have all selected the FirstClose Report for instant title search, flood certification, valuation and property information tied to mortgage and home equity loan products.

Mortgage brokers were among the companies that received the regulator's warning letters, but brokers are not required to report HMDA data — leading many to suspect mini-correspondents, which straddle the line between broker and lender, were the recipients.

Ellie Mae and Black Knight Financial Services offer mortgage lenders different value propositions so the competitive dynamic between the two companies hasn't changed, said Ellie Mae CEO Jonathan Corr.

The CFPB sent letters Thursday to 44 mortgage lenders and brokers warning them of potential reporting violations related to their mortgage lending activities — infractions the bureau is increasingly pushing lenders to take seriously.

American National Insurance Co. will use SS&C's Precision LM software product to manage the full lifecycle of its commercial real estate loan portfolio.

The Consumer Financial Protection Bureau will require underperforming servicers to document the technology and process changes they're making to implement the agency's recently released servicing regulations.

Fannie Mae is planning to provide relief to lenders from potential buybacks for loans in which the borrower's income, assets and employment information have been validated through automated underwriting.