Mortgage technology

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.

Ginnie Mae will join Fannie Mae and Freddie Mac in requiring mortgages it purchases to be transmitted in the Uniform Loan Delivery Dataset standard — the set of data points and e-document formats the government-sponsored enterprises will mandate for all mortgages it purchases beginning Sept. 1, 2011.

•Roundtable—MT’s advisory board talks tech trends

The latest briefs from the world of mortgage technology…

Seattle-based e-signature provider DocuSign closed a $27 million investment from Scale Venture Partners and added one of the venture capital firms’s managing directors to its board of directors. In addition, DocuSign added two executives to its management team.

A relatively small company started a little less than two years ago is aiming to grow aggressively while stressing technology-driven efficiencies and upfront disclosure to consumers.