Technology

Wall Street analysts have their eyes on mortgage tech. Do they project a bull market?

Banks are still digesting a full plate of mortgage and other economic woes, but that's not stopping them from adding ambitious technology projects to their diet, if the first of vendor earnings reports is an indication.

Cognizant has acquired CoreLogic’s Global Services Private Ltd., the India-based captive operations of CoreLogic, in a move that transfers some operations used for U.S. mortgage industry outsourcing to the former company.

Aklero Risk Analytics will offer discounted pricing, as well as enhanced delivery options, technology and support, to the member banks of the American Bankers Association’s Business Solutions subsidiary, under a preferred vendor agreement between Fort Washington, Pa.-based Aklero and the Washington-based ABA.

Massachusetts Attorney General Martha Coakley told the state's Register of Deeds Association that she will not sign a multistate settlement with large mortgage servicers that includes a widespread release of liability for claims against the Mortgage Electronic Registry Systems.

Mortgage technology and service provider Lender Processing Services earned $21.4 million in the second quarter, a 73% decline from the same period a year earlier, citing restructuring charges and lower revenue.

Loan origination system provider Wipro Gallagher Solutions has integrated the settlement services pricing data of Ernst Publishing, providing lenders technology to help accurately complete Good Faith Estimate and HUD-1 disclosures.

A series of integrations to third-party data and analytics providers is beefing up CoreLogic’s LoanSafe Fraud Manager, the mortgage fraud detection technology that the Santa Ana-based firm said uses pattern recognition to provide business intelligence into lenders’ risk levels.

Some federally-regulated depositories are in danger of missing a July 29 deadline to be registered in the National Mortgage License System and Registry, exposing themselves to possible sanctions from regulators.

To help lenders automate paperwork quicker, Mortgage Cadence, a compliance, content, and document creation and management business, has spun off its Finale division into a standalone entity called Finale Document Services.