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.

Equifax Workforce Solutions has been selected as a designated vendor for Fannie Mae's Desktop Underwriter validation service.

Ellie Mae has launched the Encompass Lending Platform, allowing customers to integrate external systems and data, and build custom applications in the cloud.

As Rodrigo Lopez begins his term as chairman of the Mortgage Bankers Association, the Nebraska multifamily lender seeks to use the platform to embrace the challenges of improving diversity and technology throughout the industry, while remaining vigilant about the ever-changing regulatory landscape.

Roostify plans to connect its automated mortgage decisioning platform with employment and income data from Equifax.

Binh Dang has resigned as president of LendingQB, the company confirmed Thursday.

Greg Carmichael, who has been on the job nearly a year as Fifth Third's CEO, has started putting his stamp on the company by aggressively trimming branches in favor of mobile, seeking to build up its consumer credit business and retooling the balance sheet.

In a move designed to help further calm lender fears about mortgage repurchase liability, Fannie Mae is preparing to offer immediate representation and warranty relief to lenders that use its suite of automated quality assurance technology.

ClosingCorp has rebranded its Loan Estimate and Good Faith Estimate products as a single service, SmartFees.

Black Knight Financial Services has integrated technology from Fannie Mae and Freddie Mac with its LoanSphere Empower and LendingSpace loan origination systems.