Technology

Large originators and servicers have long relied on the efficiencies and cost savings of outsourcing for a long time, some going as far as building their own offshore facilities, known as “captives” among business process outsourcers.

The Mortgage Bankers Association has stepped up its advocacy of electronic signatures, sending an open letter to the acting commissioner of the Federal Housing Administration requesting the Department of Housing and Urban Development’s home finance unit begin accepting e-signatures on all loan documents.

Ellie Mae has hired Parvesh Sahi to serve as vice president of compliance solutions, overseeing development of Ellie’s acquisition of compliance software provider Mavent.

It has been a mixed bag for mortgage-related stocks on Thursday morning, as the Dow Jones Industrial Average slid another 85 points, on top of a decline of 280 points on Wednesday.

In yet another borrower dispute of the use of the Mortgage Electronic Registration Systems, a U.S. District court vacated the nonjudicial foreclosure of an Oregon borrower

Mortgage technology vendor Ellie Mae registered its common stock with the Securities and Exchange Commission last month, lowering not only its initial public offering price, but the amount of money it hopes to raise in the capital markets.

Private-label cowboys have returned to the mortgage secondary, with new technology to rope in prime investments.

Mortgagebot has added its 1,000th customer to its point of sale and product and pricing technology products.

GCC Servicing Systems released a new module to its Web-based servicing system of record to automate creation of lien release documentation.

The Department of Housing and Urban Development will re-foreclose on all its REO properties in Michigan where the original foreclosure was conducted in the name of MERS using the state’s nonjudicial process.