Technology

Large originators and servicers have long relied on the efficiencies and cost savings of outsourcing, some going as far as building their own offshore facilities, known as “captives” among business process outsourcers. But now, outsource vendors are offering custom fulfillment services, combined with loan origination technology, to small and midsize lenders.

The loan modification process needs a reboot that uses technology to help borrowers understand the process and provide faster resolution to loan files, according to panelists speaking at the Best Practices in Loss Mitigation Conference that National Mortgage News' parent company SourceMedia sponsored this week in Dallas.

Zillow completed its initial public offering, listing its common stock on the NASDAQ exchange at $20 a share.

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DRI Management Systems has released a new portal to the DRI Office default servicing management platform aimed at providing better communication between real estate brokers and servicer asset managers in real estate owned property dispositions.

Zillow increased the expected price for common stock in its initial public offering to $16-$18, up from last week’s estimate of $12-$14, according to a new filing with the Securities and Exchange Commission.

Mortgagematch.com, the loan origination website launched late last year by Move Inc., is no longer pairing borrowers with loans and home listings.

Radian Guaranty Inc., Philadelphia, will accept Fannie Mae Desktop Underwriter Approve/Eligible and Freddie Mac Loan Prospector Accept/Eligible loans for mortgage insurance without the need for a separate underwriting decision by the company starting on July 11 as part of a series of guideline changes the company is making.

Equifax subsidiary The Work Number will begin providing mortgage lenders and other consumer credit underwriters verifications of employment and income for self-employed individuals.

Mortgagematch.com, the loan origination website launched in late 2010 by Move Inc., is no longer pairing borrowers with loans and home listings.