Technology

Freddie Mac has released a new Web tool aimed at servicers.

Bankers are still grappling with vendor software problems, longer processing times and delays in mortgage closings as a result of new disclosures that went into effect four months ago, according to a new survey by the American Bankers Association.

New services seek to replace lender processes that often involve manually updated spreadsheets and other efforts pieced together to meet steepening regulatory requirements for vendor management.

Dimont, based in Dallas, has partnered with Phoenix ABS to access the New York firm's technology platform.

The technology giant and the federal government both have vested interests in protecting customer and proprietary information. Making concessions for any will set a dangerous precedent to make concessions for all.

CoreLogic more-than-doubled its profit in the fourth quarter, as the benefits from an acquisition helped offset higher expenses.

Understanding how consumers pay their debts over time is expected to widen access to credit for consumers recovering from financial problems or who were hard to score before. Just how many it will benefit is an open debate.

Amid growing scrutiny of how the hand-off of mortgages is managed after loan closings and bulk sales, servicers are working to automate the entire process to create a consistent and accurate onboarding experience for borrowers.

Bank mortgage originations were up 7% in the fourth quarter of 2015, while the number of Federal Deposit Insurance Corp.-insured institutions that deal primarily in mortgages dropped more than 9% from a year ago.

Mortgage servicers are actively discussing with regulators how current rules could be streamlined, and future rules could be shaped, to minimize costs and hassles.