Outsourcing

From blockchain to digital labor, here's a recap of the best moments and insights from the Mortgage Bankers Association's 2017 technology conference.

MetaSource has acquired Dallas-based mortgage document firm Orion Financial Group in an effort to expand upon its lien release offerings.

PHH Corp. has struck a deal with LenderLive to sell its private-label mortgage operations in Jacksonville, Fla., to the Denver-based mortgage services provider.

PHH Corp. plans to close a Buffalo, N.Y.-area office next year, which will result in the layoff of 80 employees, extending the staff reductions already taken in 2016.

Five credit unions in three states have partnered with myCUmortgage, a provider of outsourced origination and servicing programs.

PHH Corp. has agreed to pay a $28 million fine to the New York Department of Financial Services to settle allegations its servicing and origination units mistreated borrowers.

PHH Corp. is getting out of the private-label mortgage origination business in the wake of Merrill Lynch ending its relationship, plus it is selling its Ginnie Mae servicing rights to Lakeview Loan Servicing.

Altisource Origination Services, which provides outsourced loan fulfillment services, is rebranding as Trelix.

By decreasing costs through technology, outsourcing and scale, servicers not only can give their margins a much-needed boost, but also set themselves up to reap rewards in the future.

Bank of America has ended its agreement with PHH Corp. that saw the Mount Laurel, N.J.-based company perform private-label originations for Merrill Lynch.

Two decades of experience with offshoring has shown that shifting operations work from knowledgeable, local workers to people in another country with oftentimes limited training comes with risks — of errors, of misunderstandings and of security lapses.

Credit union service organization myCUmortgage has launched a new mortgage servicing operation, providing its members with another option to deal with the payment function.

Ocwen Financial Corp.'s loan servicing subsidiary has reached a settlement with the Washington State Department of Financial Institutions' consumer services division over the servicer's practice of using unlicensed offshore companies.

Reynolds and Reynolds subsidiary International Document Services has added a fulfillment dashboard to its idsDoc mortgage document preparation system.

Appraisal management company Accurate Group is looking to expand its nationwide appraiser network.

PHH Corp. said Merrill Lynch plans to bring more of its origination activity back in house and that could hurt pretax earnings by $13 million in the second half of the year.

Walter Investment Management Corp. lost $232.4 million in the second quarter as the company took $216 million in charges related to its mortgage servicing portfolio.

Gershman Mortgage will on an outsourced basis to provide loans insured by HUD for Land Home Financial Services' commercial lending division.

The Consumer Financial Protection Bureau released a plan Thursday to overhaul the debt collection industry that would limit collection attempts to six per week and require confirmation of a debt before contacting consumers. The plan, however, is not yet directed at banks and credit card companies.

LenderLive has reorganized its various business divisions under two new units — LenderLive Network and LenderLive Services.