Mortgage technology

CoreLogic has agreed to add Equifax's the Work Number platform to Credco, its verification-of-employment service.

While distributed denial-of-service attacks typically crash systems with waves of invalid data requests, the manner in which Ellie Mae's technology was overwhelmed suggests the culprits were familiar with the mortgage business.

As the real estate market continues to recover, regulatory pressures are pushing mortgage executives to place consumers and their interests front and center in mortgage transactions.

The 10X Award honors a company, product or technology that's had an exponential impact on mortgage finance. Learn about this year's finalists and see who won the 2013 MT Award.

Company says it it found no evidence of a data breach and that borrowers' personal data "remain secure."

Loan closing delays caused by the attack have forced lenders to pay for rate lock extensions and hedging losses, while home closings funded by purchase mortgages have also been delayed.

Ellie Mae Inc., the provider of software used by lenders to make home loans, said a technical breakdown this week has prevented some mortgages from closing.

The Federal Housing Administration will require lenders to submit full electronic appraisals for the mortgages it insures — a risk management practice Fannie Mae and Freddie Mac adopted two years ago.

With more reliable loan data, Fannie Mae and Freddie Mac would have greater confidence that borrowers would not default. In return, lenders would receive a juicy carrot: fewer buyback requests.

On the surface, it seems mortgage firms must explain valuation reports to each new applicant or eliminate the use of lower-cost advanced valuation intelligence. However, there may be another option.

Lenders should avoid repeated mistakes in their process as they could be used as evidence of a fraudulent intention to originate loans without proper safeguards and underwriting processes.

The Federal Housing Finance Agency, Fannie Mae and Freddie Mac will suspend work on the Uniform Mortgage Servicing Dataset to conduct a fact-finding exercise to identify broader data standardization needs in the servicing industry.

There is likely to be a record number of consumers shopping online for their mortgage in 2014.

The best thing to happen to the business over the last three decades was the development of the secondary agencies' automated underwriting engines. The worst? There are several strong contenders….

The vendor thinks it can meet lenders' needs by creating a system which manages the various tasks that must be completed to move a loan through the origination pipeline.

Mountain America Credit Union closed its first e-signed FHA mortgages, among the very first paperless loans executed under a policy enacted in January.

• Paperless FHA
• Servicing Roundtable
• Lender Outsourcing
• Appraisal Regulations

Underwriting is back in style and underwriters are in high demand as the requirements of investors and regulatory considerations require more documentation and more scrutiny around whether a borrower can pay back the loan.

A cybersecurity firm claims many large and small mortgage lenders are being careless with customers’ personal and financial data.

Black Knight Financial Services is seeking a buyer for PCLender, one of its three loan origination systems, three years after acquiring it.