Technology

The January Lender Processing Services, Inc. Mortgage Monitor report once again shows that if there is a light at the end of the tunnel it is still quite far away as the number of properties that are 30 days or more delinquent or in foreclosure remains at a staggering 6.922 million.

The robo-signing fiasco only highlighted the fact that having the paperwork in order is equally critical for lenders, servicers, investors and borrowers.Mike Wileman, president and CEO of Orion Financial Group Inc., Southlake, Texas, is one of many industry veterans who see paperwork accuracy and transparency as a powerful factor that is affecting how the industry is and ultimately will conduct business in the future.

A pair of rulings from federal bankruptcy judges last week is adding a new wrinkle to the role of MERSCorp Inc. in state foreclosure proceedings.

Cleveland Selfreliance Federal Credit Union said it has converted to the XetusOne Loan Management System, using it as an online mortgage origination platform.

Mortgage servicing may be changing and self-adjusting into a new still-not completely undefined model, but the fact that it appears to be a work in progress is not discouraging bankers from eyeing what it has to offer.Without much fanfare the crisis has irreversibly turned in-house mortgage servicing and specialty servicing into hot markets.

After receiving notice that he’s under investigation by the Securities and Exchange Commission, CoreLogic Chief Financial Officer Anthony "Buddy" Piszel resigned late Thursday.

ISGN, a technology vendor with products across the entire spectrum of mortgage finance, is considering offers for the company, or possibly strategic partnerships, according to industry observers familiar with the matter.

Focus: Servicing — A special report on mortgage servicing technology•Hub Evolution — Are systems of record keeping up with the times?•Ending Robo-Signing — Technology to ensure compliant default servicing•Neutralizing E-Mortgage Myths — Preventing paperless loan foreclosure problems•Loss Mitigation Automation — A Q&A with IndiSoft CEO Sanjeev Dahiwadkar

The mortgage division of Equifax, Atlanta, had fourth quarter revenue of $29 million, up 27% from the same period in 2009.

Technology vendors are expecting tempered demand for their products, even as banks begin to turn the corner toward financial improvement.