Outsourcing

Narayan Bharadwaj, the former general manager and head of mortgage technology vendor Wipro Gallagher Solutions, will serve as president and chief operating officer of the newly created professional services division of document preparation vendor DocuTech.

The recent dip in mortgage rates isn't likely to spur a refi boom, but with the industry now into the fourth quarter of a tough year, many lenders are looking for ways to boost business.

Outsourcing of labor amongst mortgage servicers may cause problems for the private-label residential mortgage-backed securities market, according to Fitch Ratings.

A recent survey shows a very large number of mortgage lenders worry about loan quality and Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule compliance costs.

Technology companies such as Ellie Mae, which almost doubled its employees to 700 and saw its stock price reach a new high this year, are seizing an opportunity to transform how mortgages are made.