Mortgage technology

An AMC launched a new software that was developed on a platform as a service provided by customer relationship management technology provider Salesforce.com.

The growth of social media tools such as Facebook, Twitter and LinkedIn has aided many mortgage originators in their ability to communicate with their customers. But for the companies they work for, these tools could be a compliance nightmare.

Software as a service is the original flavor of cloud computing and dates back to even before terms like cloud and SaaS were first used in information technology. In the mortgage industry, many lenders and servicers are just now warming up to the concept, educating themselves about the benefits, features and capacity of SaaS. But technology waits for no one.

Collateral Intelligence has signed on with FICO to provide valuation and support for the credit risk provider’s analytic solution that predicts borrowers who are at risk of strategically defaulting on their mortgages.

As if today's changing regulatory environment was not enough for the industry to contend with, the recent federal government and state attorneys general settlement for $25 billion with the country's top servicers has added a new wrinkle.

Bank of America, JPMorgan Chase, and three other residential servicers agreed to pay $25 million to New York State to resolve certain monetary claims over the use of the MERS database after reaching a $25 billion national settlement on robo-signing charges.

The National Council on Aging has created a new website, http://www.HomeEquityAdvisor.org, to help older adults make informed decisions regarding using their home as a tool to help finance their retirement lifestyle.

A lawsuit filed by the county register of deeds in Guilford County, N.C. Tuesday claims mortgage documents in its records were 'robo-signed' in the name of Mortgage Electronic Registration Systems Inc. and wants a court to appoint a "Special Master" to determine which documents are fraudulent and require servicers to refile documents.

• Online Origination Tech• Software as a Service• Software Pricing Trends• Q&A with eLynx CEO

Now is the time for servicers to plan ahead with built-in systems that are going to ensure loans are in compliance, because auditors today need proof ahead of conjecture that loans meet rapidly evolving standards.

The common themes of control, consistency and transparency targeted by the various new regulations are creating an increased need for more loan channel-agnostic mortgage operations and systems, according to one expert.

Quandis has partnered with technology business provider CSC to offer a new short sale tracking and fulfillment portal for the company’s EarlyResolution default management solution in order to accelerate processing cycles.

On the heels of the much-anticipated release of Apple’s third-generated iPad, an Austin, Texas-based mortgage technology upstart believes the impending launch of its iPad application will be the catalyst for tablet adoption by loan originators.

Mortgage Marvel, which operates a site where consumers are able to shop for mortgage loans and rates while at the same time maintaining their privacy, has made some upgrades to its functionality.

I just read a blog that stopped me in my tracks. It was called, "What If I'm Not Awesome Enough?" I'm going to paraphrase here, but I wanted you to know that awesome is not the primary thing that homebuyers are looking for!

Analysts and company executives are optimistic about Ellie Mae's 2012 prospects after the loan origination system vendor beat internal projections and Wall Street estimates for the fourth quarter and full year 2011.

Whether the servicing operation is owned by a bank with an origination arm or not, HARP 2.0 represents both a great opportunity and a real risk for mortgage servicers.

Online-only mortgage lender Quicken Loans said it has openings for 1,400 positions, primarily in its downtown Detroit office, including 300 technology jobs.

For the first time in more than 20 years, market research and analytics firm Mortech LLC did not conduct its annual lender survey and will not publish its annual mortgage industry trends and analytical report.

Electronic signatures have been legal in the United States since 2000. But a lack of acceptance at the Federal Housing Administration and the Internal Revenue Service has prevented some lenders, even technologically advanced ones, from using the technology for any mortgage documents.