Mortgage technology

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.

The Mortgage Bankers Association has stepped up its advocacy of electronic signatures, sending an open letter to the acting commissioner of the Federal Housing Administration requesting the Department of Housing and Urban Development’s home finance unit begin accepting e-signatures on all loan documents.

Ellie Mae has hired Parvesh Sahi to serve as vice president of compliance solutions, overseeing development of Ellie’s acquisition of compliance software provider Mavent.

It has been a mixed bag for mortgage-related stocks on Thursday morning, as the Dow Jones Industrial Average slid another 85 points, on top of a decline of 280 points on Wednesday.

In yet another borrower dispute of the use of the Mortgage Electronic Registration Systems, a U.S. District court vacated the nonjudicial foreclosure of an Oregon borrower

Mortgage technology vendor Ellie Mae registered its common stock with the Securities and Exchange Commission last month, lowering not only its initial public offering price, but the amount of money it hopes to raise in the capital markets.

Private-label cowboys have returned to the mortgage secondary, with new technology to rope in prime investments.

Mortgagebot has added its 1,000th customer to its point of sale and product and pricing technology products.

GCC Servicing Systems released a new module to its Web-based servicing system of record to automate creation of lien release documentation.

The Department of Housing and Urban Development will re-foreclose on all its REO properties in Michigan where the original foreclosure was conducted in the name of MERS using the state’s nonjudicial process.

MERS looks like it will prevail when it comes to questions about the validity of assignments where it is involved, but some think it may "lock down" its procedures as a result of the concerns.

A feature in Ellie Mae’s new loan quality suite of services stores borrower verification information collected during underwriting for investor review.

Origination software provider Ellie Mae released a package of new services and features this week to promote loan quality and efficiency in the loan file review process for investors and loan aggregators.

After federal regulators handed down a consent order to Merscorp, it became clear that change is indeed coming to MERS. But what will the new MERS look like? Among the prevailing theories, two possible scenarios stand out.