Mortgage technology

Mortgage servicers have failed to make significant investments in technology and compliance systems, resulting in substantial harm to consumers, according to a report issued Wednesday by the Consumer Financial Protection Bureau.

Bank of America's newest service allows consumers to track their loan status online.

Optimal Blue will be acquired by private equity firm GTCR in a deal that makes Mortgagebot founder and tech veteran Scott Happ CEO of the Texas-based product and pricing engine software vendor.

Sales growth was the top reason lenders gave for investing in new technology, according to a new study from sales automation software firm Velocify.

Mortgage lenders that embrace social media are going to great lengths to ensure their activities remain compliant with truth in lending regulations. But even lenders that shun social media must take steps to avoid marketing compliance risks.

Longstanding mortgage advertising rules are taking on new meaning in the age of digital marketing.

ICBA Mortgage has expanded its relationship with DH Corp. to offer Independent Community Bankers of America members access to the MortgageBot loan origination system.

Without the Consumer Financial Protection Bureau setting specific debt collection guidelines — including what technology agencies can use — the industry will continue a practice that harms consumers: lawsuits.

The Mortgage Industry Standards Maintenance Organization plans to simplify its membership structure, the Mortgage Bankers Association said.

Bank of America will move its mortgage servicing back onto Black Knight Financial Services' LoanSphere MSP servicing system of record.

Arjun Sirrah takes great pride in his company's national-level success as a community bank in Connecticut competing against digital lending startups in student loan refinancing. Now, his Darien Rowayton Bank plans to bring its tech-based approach to the mortgage market.

LenderLive has reorganized its various business divisions under two new units — LenderLive Network and LenderLive Services.

Little Rock, Ark.-based startup Mortgage Peer Network was chosen as one of 10 companies to participate in FIS' VC FinTech Accelerator Program.

Silicon Valley Bank in Santa Clara, Calif., has launched a program that lets new customers sign up for accounts using electronic signatures.

InSellerate, a startup sales automation software company focused on the mortgage industry, has received financial backing from Sekits Capital.

Two recent court rulings affirmed that lenders can enforce electronically signed and transferred notes, laying important groundwork for wider adoption of electronic mortgage technology that could improve the customer experience for borrowers and save lenders and servicers a bundle.

From the Common Security Platform and Freddie Mac loan sales to new accounting rules and what direction mortgage rates are headed, there was plenty to debate during this week's MBA Secondary Conference in New York.

This summer, Freddie Mac will start rolling out a suite of tools that should speed sales of loans to the GSE. Relief from reps and warranties will take longer, however.

Black Knight's purchase of eLynx is the first since the Fidelity National Financial spin-off went public and expands its mortgage servicing offerings.

The June 25 launch, which will provide lenders with much more information about a borrower's credit history, will mark the first widespread use of trended data in the mortgage industry.