Technology

The changes to the good faith estimate have increased the turnaround time between application and approval and thus negatively affected consumer satisfaction with mortgage originators, the annual J.D. Powers study found.

The CEO of Merscorp Inc. told the Senate Banking Committee Tuesday that the same mortgage tracking technology that’s recently come under fire by robo-signing critics should be more widely adopted by the mortgage industry and federal regulators.

MacDonald Dettwiler and Associates agreed to sell its property information business to TPG, a San Francisco-based private equity firm, for $850 million.

Federal banking regulators are examining two nonbank service providers at the epicenter of the foreclosure-documentation mess – Lender Processing Services Inc. and Merscorp Inc.’s Mortgage Electronic Registration System.

Until now, the quality of services rendered by mortgage technology vendors and bank owned foreclosure management quality has been rated empirically. That reality may change.

•The Sky's the Limit — Cloud computing creates new horizons for mortgage lending.

TPG Capital's purchase of the property information division of MacDonald Dettwiler and Associates puts the California-based private equity firm squarely in the middle of the foreclosure crisis.

The latest briefs from the world of mortgage technology…The Work Number Offers Automated Verification ToolsThe Work Number released new automation tools for its employment, income and borrower financial information verification services.

A California mortgage lender says its partnership with a technology and warehouse funding provider made it the first to use a warehouse line of credit to originate a fully electronic mortgage and sell it directly to a government-sponsored enterprise. The transaction represents a unique mortgagee/warehouse lender relationship that’s rarely seen in the mortgage industry. If it catches on, it would represent a dynamic shift in how warehouse lenders operate.

There are a number of unique requirements for appraisal companies operating in the reverse mortgage space and to meet those demands valuation firms are turning to technology.