Mortgage technology

International Document Services has bought electronic mortgage services vendor Encomia, in its first acquisition since it became part of Reynolds and Reynolds last October

In order for the mortgage industry and its technology to evolve in the future, lenders and servicers must redefine their expectations for connectivity and demand more open integrations between the systems they use.

To commemorate the 40th anniversary of National Mortgage News, we look to the future of the mortgage industry — a future that lies at the intersection of people, policy, technology and capital.

The events of the past 40 years pale in comparison to the strides the mortgage industry has made with technology, from pen-and-paper processes to handheld interest rate checks in minutes. The most exciting part: the best is yet to come.

It was 1976, the year of the U.S. Bicentennial, the dawn of Apple Computer and supersonic commercial flight aboard the Concorde jet. The average rate for a 30-year mortgage was 8.87% and the median sales price of existing homes was $38,100. And in an apartment on Manhattan's Upper East Side, National Mortgage News was born.

From helping to create one of the first loan origination systems to setting the stage for the financial crisis, these 10 people left an indelible mark on the mortgage industry. But where are they now?

If the past 40 years has revealed anything about the mortgage industry, it's that change is constant, and inevitable. From the future of Fannie and Freddie to the role technology will play in underwriting, here's a look at 10 bold predictions that will shake up the mortgage industry.

Here's a look at some of the mortgage industry's most pioneering ideas and trends that have created legacies that have outlasted the companies that established them.

The mortgage application forms from Fannie Mae and Freddie Mac should make for stronger loans, according to an analyst at Moody's Investors Service.

Mid America Mortgage will begin purchasing electronically closed loans through its correspondent lending channel.

Appraisal management software company Mercury Network has entered into an agreement to acquire valuation data and analytics services provider Platinum Data Solutions.

Equifax and TransUnion have stopped selling traditional credit reports, forcing lenders to buy their new, more expensive "trended" data reports that mortgage investors aren't using yet.

Ellie Mae has integrated settlement software from Qualia with its Encompass platform.

New specifications for Fannie Mae and Freddie Mac's common mortgage application unveiled Tuesday add data points and remove obsolete questions, as well as include additional capabilities to promote digital mortgage workflows.

Reynolds and Reynolds subsidiary International Document Services has added a fulfillment dashboard to its idsDoc mortgage document preparation system.

First Community Mortgage is taking somewhat of an unusual approach with its latest branding campaign.

Clara, a new online mortgage lender, has launched with $27 million in equity financing.

It's time to move past the fear that digital mortgages will make loan officers obsolete.

Mortgage portfolio retention strategies typically focus on proactively approaching borrowers who can benefit from refinancing. But companies are increasingly using enhanced analytics to further segment their customer base and identify borrowers on the cusp of buying a new home.

The emergence of lenders that have no real connection to a geographic area prompts questions over how the Community Reinvestment Act’s “good neighbor” policy can continue.