Mortgage technology

United Wholesale Mortgage has introduced software to help brokers and correspondents close loans faster.

The Consumer Financial Protection Bureau has ramped up its push for the mortgage industry to switch to an electronic closing process after results from a pilot program showed consumers favored it over in-person mortgage closing.

Years after the crisis, fundamental problems in default servicing still exist and in order to move forward, servicers must reimagine their processes to better manage overall volume and spikes in demand.

Unlike in personal loans, where Lending Club saw an opportunity to lower the cost of consumer credit card debt, in mortgages, the play is not in providing lower-priced credit, but rather in removing friction, Renaud Laplanche says.

Fidelity National Financial has recapitalized ServiceLink Holdings, increasing its ownership in the transaction services company.

Lawmakers included a measure that will impose new mortgage reporting requirements on banks and servicers as part of a short-term highway funding bill passed this week by both chambers of Congress.

Mortgage professional hiring and new job appointments for the week ending July 31.

Fidelity National Information Services Inc., the payment-services provider, is in exclusive talks to buy SunGard Data Systems Inc. in a deal with an enterprise value of more than $8.3 billion, people familiar with the matter said.

Ellie Mae reported higher profits in its second-quarter earnings. With net income of $7.6 million, its profits rose 62% from the same period in 2014.

Nationstar Mortgage Holdings returned to profitability in the second quarter after the previous quarter's significant loss.

The title and real estate services portion of Fidelity National Financial Inc. earned $160 million in the second quarter, up from $142 million one year prior because of higher revenue and margins.

Black Knight Financial Services swung to a profit in the second quarter, the first reporting period after it completed an initial public offering in May.

Ellie Mae has obtained a patent for its automated mortgage origination and processing software.

The range of loan products offered by mortgage lenders and investors has been narrow since the housing crisis, but a few underserved niches are starting to make a comeback.

Upgrading communications technology is imperative, but only one way, for mortgage servicers to prepare for an onslaught of consumers accustomed to high-touch, individualized attention.

Ellie Mae will add new integrations of Fannie Mae's automated loan review technology to its loan origination system to help lenders ensure loans remain eligible for sale throughout the underwriting process and eliminate surprises at the end.

Zillow Group in Seattle has agreed to buy DotLoop in Cincinnati, a provider of real estate document technology.

Black Knight Financial Services Inc. is benefiting from new banking regulations that push mortgage lenders to use automation software, sending the company's shares surging since its initial public offering two months ago.

Mortgage Builder general manager Larry Alston is overseeing an update of the LOS aimed at the self-service customer.

To avoid alienating a consumer base increasingly expecting digital options, lenders must take the plunge and update old loan origination systems that cannot accommodate today's technology demands.