Mortgage technology

MDA Lending Solutions launched a suite of mortgage fraud prevention software based on the recommendations that Fannie Mae gave the industry in the Loan Quality Initiative.

Mark Ernst began his new position as executive vice president and chief operating officer of financial services technology vendor Fiserv Monday.

Once a lender acquires the technology to accept Web-based mortgage applications, putting that technology to widespread use is the next step.Cutting out the step of collecting a paper application saves lenders time and money. Establishing an online channel involves upgrading websites to add the functionality or connecting to an outside provider—typically a website that’s private-labeled with the lender’s logos and integrates with its main website.

Industry vendor Kroll Factual Data, Loveland, Colo., said it has started a new technology-based service aimed at helping clients comply with fair credit reporting risk-based pricing regulations that take effect Jan. 1, 2011.

Online lending aggregator LendingTree said the average rate on its platform for a 30-year mortgage was 5.16% as of Dec. 28, down slightly from a week previous.

Jumbo securitization’s full-fledged return may still be a question mark but some investment banks have already invested in technology to support it, according to one executive at an automation vendor.

A consultant whose experience has included a stint as a top executive at the company that created the well-known Flip video camera has joined loan origination automation provider Ellie Mae, Pleasanton, Calif.

Equator, the provider of default servicing solutions, announced today that over $100 billion in assets have been sold through its platform since 2003, and more than 500,000 short sales have been initiated since its launch of the industry's first comprehensive automated short sale solution last year.

eMASON’s Clarifire application has been implemented by Fannie Mae as the technology solution for its servicers' use in complying with the foreclosure pre-filing mediation process mandated by the Florida Supreme Court's administrative order.

CoreLogic, as part of its plan to concentrate on its real estate and mortgage information businesses, will sell its employer services and litigation support businesses to Symphony Technology Group. Those businesses had been a part of First Advantage Corp. and will operate under that brand name after the deal closes.

Origination technology developer Calyx Software acquired Loan-Score Decisioning Systems, Inc., a technology provider whose offerings include a product and pricing engine, an automated underwriting system and eligibility decisioning for Federal Housing Administration mortgages.

Prosper Marketplace Inc. has decided it no longer wants to be the eBay of lending.

Origination technology developer Calyx Software acquired Loan-Score Decisioning Systems, Inc., a technology provider whose offerings include a product and pricing engine, an automated underwriting system and eligibility decisioning for Federal Housing Administration mortgages.

A divided Federal Communications Commission approved a measure to begin regulating Internet service providers’ activities, creating a general set of rules designed to promote equal access and openness to the Internet, a concept known as Net neutrality.

Fannie Mae and Freddie Mac have again delayed implementation of new mortgage and appraisal delivery requirements in the 'Uniform Mortgage Data Program', according to lender updates released Thursday.

In the crowded field of loan origination systems, technology providers have to find a way to stand out. With more than 30 different systems on the market, LOS platforms are not all created equal. The technology demands of a lender originating billions in mortgages every quarter are very different than those of a community lender that takes fewer than 1,000 loan applications a month.

Mortgage fraud costs billions every year and despite law enforcement efforts to curb it, fraud cases continue to increase. Various software products help lenders review loan files, monitor borrower trends and track potential fraud.

The latest briefs from the world of mortgage technology…

Banks may soon do the work of their vendors as they are handed the tools to design software for core banking functions — just as new services demand that systems be developed with greater speed.

Real estate owned property preservation firm Mortgage Contracting Services launched a new version of its website, adding dedicated resource pages to the various REO industry players it works for and with.