Mortgage technology

After defeating an expert in Japanese chess, this computer program's next task is to figure out if you can make the payments on a new mortgage.

Rather than relying on a formal marketing services agreement to get business, loan officers now have to prove that they can provide realty agents and consumers the best mortgage experience.

Mortgage lenders on both the residential and commercial sides of the business will have to deal with a different lending environment in 2016. These include enforcement of TILA-RESPA Integrated Disclosure violations plus rising interest rates and the impact on origination volumes. Here are 10 observations that originators need to mull over while crafting their business plans for the coming year.

From the rollercoaster ride toward the TILA-RESPA implementation deadline to concerns about other areas the Consumer Financial Protection Bureau would zero in on for scrutiny, these seven stories dominated National Mortgage News during 2015. Following are both the stories and an update on where the situation stands now.

After lenders and their technology providers spent much of 2015 implementing the TILA-RESPA integrated disclosures, forthcoming compliance audits and a government-sponsored enterprise plan to start collecting data from the new forms will tell if those efforts truly paid off.

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

Real estate finance services provider Chronos Solutions in Frisco, Texas, has acquired San Diego-based mortgage technology company Cogent Road.

As the mortgage industry heads into the New Year, National Mortgage News is taking a look at the biggest trends and topics that will shape 2016.

The answer to lower costs, higher efficiency, and better record keeping for compliance lies in eSignature, e-documents, and e-mortgages, the foundation for which has legally been in place for 15 years now.

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

Mid America Mortgage has launched a marketing portal targeting its business partners, Chief Executive Jeff Bode said in a press release.

Moody's said it has acquired BlackBox Logic, a Denver-based residential mortgage-backed securities data technology company, for an undisclosed amount of cash.

A customer's social media presence provides a window to the soul, which a more traditional credit history cannot touch.

Fannie Mae has updated its underwriter servicing tool to make it easier for servicers to determine the eligibility of distressed homeowners for a loan modification.

Issues with upgrading software and ensuring pricing accuracy to comply with the consumer bureau's "integrated disclosures" have been magnified in wholesale loan transactions.

Mountain America Credit Union has partnered with Pavaso to implement a new digital collaborative closing process to provide a better experience to members applying for mortgages called QuickClose.

With the Consumer Financial Protection Bureau's disclosure rule potentially slowing down the loan process, institutions need to focus on communication strategies to keep young borrowers at the closing table.

Williston Financial Group has formed a subsidiary to focus on providing technological improvements to mortgage and real estate transactions.

Though regulation-mandated technology upgrades give vendors little time to rest, the growing acceptance of data standardization should appeal to both lenders and regulators.

Jeff Patmont got his home loan on his phone. The 30-year-old marketing manager for a medical-device company said he did almost everything electronically for the mortgage on his home in the San Francisco Bay Area.