Mortgage technology

The Federal Reserve Board is using YouTube to try to reach more borrowers who may be eligible to have their foreclosure files reviewed as part of consent agreements with the 14 largest mortgage servicers.

Loan origination system vendor Mortgage Builder said it will acquire GCC Servicing Systems, the mortgage servicing technology vendor that it was spun off from in 1998.

In a buyer’s market, the smallest of processing hiccups can cause a lender to lose a potential borrower, which is why lenders place a premium on developing new digital delivery strategies.

With all the complexities involved in the management of distressed real estate assets, Wingspan Portfolio Advisors president Steven Horne said his company finds a literal overview of all of them is useful in drawing up strategies for handling the work.

Iron Horse Auction Company is conducting an online auction through next weekend selling 100 bank-owned properties in North Carolina and Virginia to investors and prospective homebuyers.

The days of mortgage companies embarking on large, expensive and open-ended information technology projects are long gone and executives are focusing their efforts on smaller-scale projects that produce faster results, according to a panel at the Mortgage Bankers Association Commercial/Multifamily Servicing and Technology Conference this week in Dallas.

It is no surprise that the law of supply and demand drives costs upward or downward depending on the trajectory of the major component. The same principle holds true in the rental market.

Changing market dynamics are putting more stress and constraints on commercial real estate servicing, causing processors to reevaluate their business models and strategies, according to a panel at the Mortgage Bankers Association commercial mortgage servicing and technology show this week in Dallas.

Documenting and verifying a borrower’s income is one of the most basic tasks for an underwriter. While this appears to be relatively simple, validating income has become increasingly complex and susceptible to borrower fraud.

You remember the HARP program, don’t you? Originally, the idea was to refinance current but high LTV Fannie Mae/Freddie Mac borrowers into new, lower-rate loans—provided they were current. Home values (and lack of equity) reeked havoc on the concept so Uncle Sam took the LTV girdle off.

Abhinav Asthana of Wipro Gallagher Solutions discusses issues and trends around mobile technology.

In order to remain competitive, small lenders need to integrated underwriting systems and the ability to provide market, sponsor and property history reports and information at the push of a button.

Insiders agree that certain types of solutions can serve as the best antidote to the still pervasive mortgage loan repurchase challenge.It is fueling a renewed drive to design tools that infuse all aspects of the mortgage production chain into coherent systems that are more efficient and transparent throughout the life of the loan.

Here's a fact you may not be aware of: properties governed by homeowner associations are the most rapidly growing form of housing in the U.S. today. Nearly 80% of new home construction is connected with an HOA or community association, according to the Community Associations Institute, the trade association representing HOAs.

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Loan origination system vendor Mortgage Builder announced that it will acquire GCC Servicing Systems, the mortgage technology vendor it was spun off from in 1998.

Zillow Inc. is intensifying its efforts to create an untraditional media model that expands through strategic acquisitions.

Real estate auction veterans Michael Fine and Alan Kravets formed Hilco Real Estate Auctions, which will provide buyers and sellers with transparent sale methodologies for conducting real estate transactions.

How effective is social media as a sales tool? According to a pair of researchers at Behavioral Sciences Research Press, the old tried and true method of person-to-person contact is much more effective.

The Federal Housing Administration will begin collecting full, electronic appraisal reports for the mortgages that it insures.