Mortgage technology

Web giant Google has built off its early results providing mortgage rate searches by launching a one-stop shopping tool for consumers, allowing them to compare residential loans, and other consumer banking products.

The problems for Merscorp Inc. began with questions from the lawyers representing delinquent and defaulted mortgage borrowers fighting to avoid foreclosure: Who, or what, is MERS Inc., the company whose name kept popping up on deeds of trust in the public land records and on foreclosure documents in millions of cases?

Electronic mortgage and paperless processing advocates encouraged lenders to start slow and go paperless in pieces, rather than taking on the entire task at once during a pair of sessions at a technology conference ongoing in Las Vegas this week.

Electronic mortgage and paperless processing advocates encouraged lenders to start slow and go paperless in pieces, rather than taking on the entire task at once, during a pair of sessions at a technology conference ongoing in Las Vegas this week.

Joe Rossi, senior vice president of operations and technology at Freddie Mac, is leaving the government controlled secondary market giant, according to industry officials close to the situation.

The properly optimized social media profiles can generate better networking and business opportunities with a minimal investment of time, a social networking consultant told attendees at a technology conference ongoing this week in Las Vegas.

As he tried to dispel the idea that end-to-end loan origination systems don’t exist, the product management group director at Calyx Software said there are two basic types of full service LOS technology that have pros and cons.

Politicians and government leaders did not have a comprehensive knowledge of the mortgage and appraisal industries as they struggled to set the policy that avoided an even deeper financial crisis than what occurred in 2008, said former U.S. Congressman Paul Kanjorski during a technology conference ongoing in Las Vegas this week.

CoreLogic has upsized its debt offering by $50 million to $400 million and priced it at an annual interest rate of 7.25%. The senior notes are unsecured and will be due in 2021.

In its first earnings report as a publicly traded company, mortgage software provider Ellie Mae posted a net loss of $800,000 for the first quarter of 2011.

The primary units that private equity group TPG Capital acquired from MacDonald, Dettwiler and Associates will be grouped together and run under the brand name DataQuick.

The deadline for submissions for Mortgage Technology’s 2011 Top Service Providers is just days away.The deadline for submissions is noon Eastern Monday May 16, 2011.

In its first earnings report as a publicly traded company, mortgage software provider Ellie Mae posted a net loss of $800,000 for the first quarter of 2011.

When Noel Watts, the vice president of mortgage banking at Marshall & Ilsley Bank, set out to upgrade the lender's origination platform two years ago, he expected interest rates to rise and mortgage volume to plummet.

CoreLogic, Santa Ana, Calif., reported net income of $23 million for the first quarter, which included a $25 million pretax gain on the sale of DealerTrack Holdings common stock and a $14 million increase to its tax provision related to a deferred-tax asset reduction because of the Dorado acquisition.

At the Mortgage Bankers Association’s annual technology conference in Fort Lauderdale, Fla., we gathered a panel of industry participants to discuss the latest trends and issues facing the sector and the role of technology in the business.

One origination technology provider thinks the many different components of compliance need to be managed from a single system, not only because of compliance risk alone, but also because of buyback or pushback risk.

Automated valuation model provider Veros Real Estate Solutions makes the case for the use of analytical technology in determining the value of real estate owned portfolios in a white paper published this week.

CRIF, the Italian financial services provider, this week continued its buying spree of credit union lending software companies with the acquisition of Cypress Software Systems.

Mortgage Technology recently gathered a panel of mortgage industry participants to discuss the latest trends and issues facing the sector and how technology can affect change and improve processes.