Mortgage technology

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

Federal banking regulators Wednesday afternoon dropped their regulatory "bomb" on the nation's largest residential servicers — and two of their top outside vendors — accusing the firms of a "pattern of negligence and misconduct" tied to the processing of loans.

Davis + Henderson, Toronto, said it raised $122 million in a secondary share offering, which the financial services firm used to finance its acquisition of online mortgage origination provider Mortgagebot.

CoreLogic’s FinalCheck suite of quality control software is now accessible from the Ellie Mae loan origination system.

TitleServ National, a Woodbury, N.Y.-based provider of title insurance, appraisal and settlement services, apparently exited the business on April 8, according to industry sources.

CoreLogic hired 25-year mortgage industry veteran Arlene Hyde to the newly created position of senior vice president of strategic relationships for its Business and Information Services division.

After being rejected for a loan modification, Carla Ghosn decided to build a website that would tell borrowers if they qualified for the government's Home Affordable Modification Program.

Fannie Mae has confirmed that it’s looking to outsource at least some of its technology chores to third-party vendors and sent out a “request for proposal” but isn't saying much beyond that.

Mortgage Technology magazine will again recognize innovative technology developers and the lenders that benefit from those advances with its Top Service Providers and Tech Savvy Lenders awards. These recognitions have a long tradition in the mortgage finance and technology industries and are among the most coveted awards in the space.

When Toronto-based Davis Henderson Corp. agreed to acquire online lending specialist Mortgagebot from Spectrum Equity Investors for a cash price of $231.8 million, the deal drew applause at a time when many mortgage technology deals have amounted to distress sales.

Richard Neiman believes regulators may step in and provide guidance to mortgage servicers on their use of the Mortgage Electronic Registration Systems.

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 Systems.

A group of funds managed by Boston-based Highfields Capital Management increased its stake in mortgage technology and services vendor Lender Processing Services to 5.2% of common stock, according to new documents filed with the Securities and Exchange Commission.

As the industry copes with the “new normal,” mortgage lenders have three goals in mind when it comes to how they invest in information technology—compliance, managing economic cycles and expanding market share.

It’s no secret that mortgage technology providers Calyx Software and Ellie Mae are fierce competitors. It’s not uncommon for the two vendors to battle for the same lenders’ loan origination system business and the two companies have a long and complicated history, including a copyright infringement lawsuit filed by Calyx that settled out of court by Ellie paying Calyx an “undisclosed sum” in late 2005.

It’s no secret that mortgage technology providers Calyx Software and Ellie Mae are fierce competitors. So when each company recently purchased a product and pricing engine vendor, questions quickly came up about the two companies' new mutual customers.

Mortgage technology vendor Ellie Mae on Tuesday priced its initial public offering, laying out plans to raise between $40 million and $60 million.

It's not quite a mortgage technology conference without the release of at least one loan origination system – and several upgrades.

Congressional demands for the Federal Housing Administration to improve transparency, data accuracy, and legacy technology platforms have been backed by additional resources allocated to the effort.

Mortgagebot, the Mequon, Wis.-based provider of online mortgage rate search and loan application technology, was acquired by Canadian financial services technology provider Davis Henderson Corp. for US $231.8 million, the companies announced Thursday.