Mortgage technology

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.

While MERS QA is neither unreasonable nor unexpected, the challenges uncovered in the race to comply are significant. Never before has the industry asked servicers to ensure the data of originators.

ClosingCorp has introduced a business-to-consumer online loan cost estimate calculator that includes a lead generation component, and is offering it in conjunction with real estate Internet sites.

Banks and consultants are looking to improve money laundering detection systems using lessons adapted from their fight against consumer fraud.

Technology is building new bridges between traditional appraisals, automated valuations, sensitive property data and housing market analytics. Federal regulation adds to the mix the development of regulatory-compliant appraisal solutions for banks and third-party service providers.

Boston-based Highfields Capital Management, which owns a 7.7% stake in CoreLogic, accused CoreLogic's board of directors' "desire to maintain control rather than doing what is in the best interest of shareholders."

Tree.com lost $1.1 million in the fourth quarter, after experiencing reduced revenue from its lead generation business. It also took a $5.6 million impairment charge on intangible assets.

The same benefits and legal foundation that guide mortgage lenders' paperless origination capabilities are now being applied by servicers performing loss mitigation, according to a panel at this week's Mortgage Bankers Association servicing conference.

Servicing regulations and oversight aren't new concepts for mortgage bankers, but the motivation and processes are evolving to meet the demands of current market conditions.

Maryland is developing a pilot program to take its mandatory foreclosure mediation process paperless.