Mortgage technology

Speculation is rampant about what the GSEs intend to do with the data they'll collect on the Uniform Collateral Data Portal.

Loan origination software provider Ellie Mae posted a net loss of $40,000 on total revenue of $11.5 million during the second quarter, an improvement over a loss of $1.3 million in the year ago period.

MortgageKeeper Referral Services has developed a database that helps struggling borrowers improve their financial situations by connecting them to qualified nonprofit organizations and governmental agencies.

Equifax announced its acquisition of back-office processing, closing and post-closing service and technology provider DataVision Resources Tuesday.

Texas Tech Federal Credit Union in Lubbock has chosen MRG's Miracle Online platform for its mortgage document preparation needs.

The policy that prevents mortgage servicers from initiating foreclosures in the name of Mortgage Electronic Registration Systems Inc. became permanent this week after parent company Merscorp Inc. finalized changes to its procedures and quality assurance manuals.

Wall Street analysts have their eyes on mortgage tech. Do they project a bull market?

Banks are still digesting a full plate of mortgage and other economic woes, but that's not stopping them from adding ambitious technology projects to their diet, if the first of vendor earnings reports is an indication.

Cognizant has acquired CoreLogic’s Global Services Private Ltd., the India-based captive operations of CoreLogic, in a move that transfers some operations used for U.S. mortgage industry outsourcing to the former company.

Aklero Risk Analytics will offer discounted pricing, as well as enhanced delivery options, technology and support, to the member banks of the American Bankers Association’s Business Solutions subsidiary, under a preferred vendor agreement between Fort Washington, Pa.-based Aklero and the Washington-based ABA.

Massachusetts Attorney General Martha Coakley told the state's Register of Deeds Association that she will not sign a multistate settlement with large mortgage servicers that includes a widespread release of liability for claims against the Mortgage Electronic Registry Systems.

Mortgage technology and service provider Lender Processing Services earned $21.4 million in the second quarter, a 73% decline from the same period a year earlier, citing restructuring charges and lower revenue.

Loan origination system provider Wipro Gallagher Solutions has integrated the settlement services pricing data of Ernst Publishing, providing lenders technology to help accurately complete Good Faith Estimate and HUD-1 disclosures.

A series of integrations to third-party data and analytics providers is beefing up CoreLogic’s LoanSafe Fraud Manager, the mortgage fraud detection technology that the Santa Ana-based firm said uses pattern recognition to provide business intelligence into lenders’ risk levels.

Some federally-regulated depositories are in danger of missing a July 29 deadline to be registered in the National Mortgage License System and Registry, exposing themselves to possible sanctions from regulators.

To help lenders automate paperwork quicker, Mortgage Cadence, a compliance, content, and document creation and management business, has spun off its Finale division into a standalone entity called Finale Document Services.

Large originators and servicers have long relied on the efficiencies and cost savings of outsourcing, some going as far as building their own offshore facilities, known as “captives” among business process outsourcers. But now, outsource vendors are offering custom fulfillment services, combined with loan origination technology, to small and midsize lenders.

The loan modification process needs a reboot that uses technology to help borrowers understand the process and provide faster resolution to loan files, according to panelists speaking at the Best Practices in Loss Mitigation Conference that National Mortgage News' parent company SourceMedia sponsored this week in Dallas.

Zillow completed its initial public offering, listing its common stock on the NASDAQ exchange at $20 a share.

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