Mortgage technology

Ellie Mae generated total revenue of $23.6 million in 2Q, up 106% from the same period last year when Ellie Mae posted a net loss of $40,000 off revenue of $11.5 million.

Electronically signed 4506-T forms will mean that lenders will be able to verify the borrower’s income in as little as a few minutes.

Ellie Mae has upgraded its Encompass360 loan origination system with new features to increase compliance and efficiency.

A new Mortgage Industry Standards Maintenance Organization workgroup intends to create a universal loan document identification protocol that would be based on loan-specific data and enable any entity across the lending process to use a common formula to create or recreate the unique identifier.

New advances are providing technology to mortgage industry and secondary market participants that allows them to access detailed information about residential mortgage-backed securities.

Up until a year ago, I had never considered using video as a way to communicate with the thousands of loan officers and real estate agents I connect with on a monthly basis.

CO-OP Member Center is partnering with LenderLive Network to provide credit unions with mortgage outsourcing services.

Conix Inc. completed a record second quarter by acquiring $112 million worth of distressed real estate.

Special servicers work with information from multiple sources and they have to ensure quick and accurate dissemination of that data within its organization, which creates numerous data management challenges.

Mortgage vendor Nationwide Title Clearing is continuing to hire new employees, adding 66 full-timers in the second quarter.

CoreLogic earned $41 million off revenue of $389 million during the second quarter of 2012—new records for the company which was spun off from the First American Corp. in June 2010.

Monday marked the implementation deadline for the Uniform Loan Delivery Dataset, the new loan-level mortgage information file format developed by Fannie Mae and Freddie Mac for all loans sold to the government-sponsored enterprises.

When it comes to automation technology, servicers are faced with a myriad of choices between traditional, in-house software versus vendor-hosted services, or software-as-a-service delivery options.

In reaction to the mortgage industry’s woes, and in some cases in spite of them, technology has marched on giving us new tools, techniques, and tactics that enhance our ability to be vigilant.

Since agreeing to a consent order with federal regulators last year, Wells Fargo has embarked on an aggressive plan to implement new loss mitigation strategies and improve upon existing practices.

With the numerous program guidelines, strategies and other challenges facing mortgage servicers, the ability to rapidly develop and deploy technology is crucial for current and future loss mitigation efforts, according to a panel at the National Mortgage News “Best Practices in Loss Mitigation” Conference in Dallas.

An Oregon homeowner’s fight against Merscorp Holdings was revived after a state appellate court reversed a lower court’s decision to rule in favor of the owner of the Mortgage Electronic Registration Systems before the case went to trial.

LOS providers who offer, and lenders who select, an EDM product that’s crafted and maintained by a team of skilled craftsmen, not a “Jack of all trades” won’t be disappointed; even after the check is cashed.

Mortgage Technology will commend the lenders and servicers that use technology to improve processes, provide exceptional customer service and increase business with its annual list of the Top Tech-Savvy Lenders and Servicers. The deadline for all nominations is 6 p.m. EDT Thursday, August 16, 2012.

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