Mortgage technology

Ellie Mae and Lenders Processing Services were the only mortgage-related stocks bucking the negative trend on Wall St. Thursday morning, as the Dow Jones Industrial Average, once down 235 points on the day, was still off 156 at 1 p.m.

The decline of mortgage brokers has had a profound affect on loan origination system provider Ellie Mae. As indicated by the Pleasanton, Calif.-based company’s disclosures to the Securities and Exchange Commission, its customer base has shifted dramatically from broker to lender since 2008.

Browser and smart client software as a service are the latest in mortgage tech—but which is better?

Gabe Minton was appointed to a two-year term on the Mortgage Industry Standards Maintenance Organization board of directors, the Mortgage Bankers Association announced Wednesday.

A pair of automated service providers said Monday they are partnering to provide more granular household-level borrower data within ethnic demographics.

CoreLogic released a tool Monday to let servicers run automated checks on pools of loans to determine if borrowers are protected from foreclosure by the Servicemembers Civil Relief Act.

More than 10 states recently made legislative and/or regulatory changes related to real estate loans and foreclosures, according to MRG Document Technologies, which regularly tracks such compliance changes.

Stonegate Mortgage Corp., Fishers, Ind., this week hired industry veteran Dan Bettenburg as its new president.

•Sig Anderman Q&A—The Ellie Mae CEO’s first interview after the IPO

Technology vendors are responding to the new single point of contact requirement for residential servicers with Web-based portals that give borrowers insight into the loss mitigation process.

Last call to nominate for the 2011 Mortgage Technology Awards. The deadline for submissions to both award programs is Friday, July 1.

A New York state appeals court overturned a ruling in favor of the Mortgage Electronic Registration Systems, finding Bank of New York did not have standing to initiate a foreclosure.

A large origination and servicing outsourcer for the UK and Ireland mortgage industry launched a private-label online self-service tool for borrowers to monitor their accounts from their lender’s websites.

Two well-known mortgage technologists have taken on new positions—Christos Bettios, formerly a senior product manager overseeing paperless mortgage initiatives at Fannie Mae and Greg Alvord, an active volunteer in the Mortgage Industry Standards Maintenance Organization and the chair of MISMO’s architecture committee.

RealEC has rolled out a service that offers lenders the ability to push quality control from the closing table earlier in the process, with loan-level reviews during the origination process.

The comment period ended Wednesday on a proposed rule that would forbid mortgage investors and their servicers from foreclosing in the name of the Mortgage Electronic Registration Systems Inc.

Freddie Mac on Tuesday afternoon unveiled a major reorganization in its ranks, naming former GMAC executive Tony Renzi to head a newly created division to oversee single family lending, operations and technology.

Appraisal and mortgage technology vendor a la mode will soon launch a new browser-based service for lenders and appraisal management companies to manage the transmission of electronic appraisal documents to the Uniform Collateral Data Portal.

Having recently completed his third decade at the helm of a company that he says was one of the first movers in the outsourcing of real estate valuation services, PCV Murcor Real Estate Services president/CEO Keith Murray describes himself as a man who finds himself again—as he was at the outset of his career—with the right expertise at the right time.

Large originators and servicers have long relied on the efficiencies and cost savings of outsourcing for a long time, some going as far as building their own offshore facilities, known as “captives” among business process outsourcers.