Mortgage technology

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, continued its buying spree of credit union lending software companies with the acquisition of Cypress Software Systems, the company announced this morning.

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

MERSCorp Inc., parent company of the Mortgage Electronic Registration Systems, named former CitiMortgage chairman and CEO Bill Beckmann its permanent replacement for retired president and CEO R.K. Arnold.

Neighborhood Mortgage Solutions, a credit union service organization that provides mortgage servicing to 30 credit unions, implemented technology to allow borrowers to make their mortgage payment at the teller windows of their credit union.

The Michigan Court of Appeals ruled that Mortgage Electronic Registration Systems Inc. is ineligible to use the state’s nonjudicial foreclosure process, vacating the 2009 foreclosures of two borrowers.

With the myriad components of the Uniform Mortgage Data Program—each with its own respective abbreviation—lenders, appraisers and technologists find themselves in a vat of alphabet soup, trying to prepare for the UMDP.

The Michigan Court of Appeals ruled that Mortgage Electronic Registration Systems Inc. is ineligible to use the state’s non-judicial foreclosure process, vacating the 2009 foreclosures of two borrowers.

A new tool checks Department of Defense records to verify whether defaulted mortgage borrowers are actively serving in the military, providing a regulatory compliance check for servicers while staying within the confines of department policies.

A new tool checks Department of Defense records to verify whether defaulted mortgage borrowers are actively serving in the military, providing a regulatory compliance check for servicers while staying within the confines of department policies.

FICO launched an analytic advance that substantially improves lenders’ ability to identify borrowers at risk of strategic default on mortgages.

Calyx Software says it has resolved an issue with its point of sale software that was causing some entries on the Good Faith Estimate disclosure document to disappear.

The head of a county land registry in Massachusetts is requesting his office close its deposit account with Bank of America in protest of the bank’s affiliation with MERSCorp Inc., which runs the Mortgage Electronic Registry System.

•Tech Roundtable—Q&A discussion from MBA Tech Conference•UMDP—Deciphering the alphabet soup•Going it Alone—Standalone firms look to be best-of-breed•Rewarding R&D—how technology is getting ready for the next cycle

The initial public offering registration papers that online real estate and mortgage search company Zillow filed with the Securities and Exchange Commission Monday revealed five resolved or ongoing legal complaints since Oct. 2009—all patent infringement claims against the Seattle-based company.

Auction.com plans to put out for bid at least two commercial real estate loan packages per month for the next three months totaling more than $1.86 billion.

Real estate listing and mortgage rate search website company Zillow registered with the Securities and Exchange Commission Monday, seeking to raise $51.75 million from the initial public offering of its common stock.

To many in the industry, federal regulators just gave Mortgage Electronic Registration Systems a big stamp of approval.

CoreLogic paid $75.8 million on Monday to repurchase 4 million shares of its common stock from its former parent company, First American Financial Corp., according to Securities and Exchange Commission disclosures.

Ellie Mae priced its initial public offering at $6 per share Thursday evening, raising $45 million for the Pleasanton, Calif.-based mortgage technology vendor.