Technology

Dorado Corp. has received a Notice of Allowance from the U.S. Patent and Trademark Office for the method it created for processing a loan application (including mortgages). The notice means the government is likely to issue a patent.

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Independent private equity firm Monitor Clipper Partners has invested "an undisclosed amount" in Denver-based Mortgage Cadence, a provider of enterprise lending solutions, loss mitigation technology and document services.

A study based on borrowers' cognitive psychology reactions may change what mortgage documents will look like three years from now.In a classic case where science plays "the devil's advocate" for the mortgage industry, a couple of academics are researching the fluid relationship between borrowers and their mortgages to see where it might be improved.

So-called paperless mortgages still have a long ways to go, but the number of people who believe they could be a few years away from a 50% penetration of the market has grown in the last two years, according to a survey on the topic that is done roughly every other year.

It was 30 years ago that Lester Dominick founded MortgageFlex Systems Inc. And to prepare for the future, the company is moving into a new environmental-friendly headquarters in Jacksonville, Fla.

Technology provider Genpact Limited of Bermuda has been awarded a seven-year contract to provide services support to MERSCORP, Inc., the mortgage industry's electronic loan registry system.

In its first quarterly report as an independent company, CoreLogic, Santa Ana, Calif., had net income of $24 million, down from $29 million in the first quarter and $70 million one year prior.

Representatives of both Ellie Mae and PHH Mortgage Corp. used similar words about their teaming up in the Encompass360 Select program, that the technology involved provides seamless synergies to users.

Thanks to the Dodd-Frank Wall Street Reform and Consumer Protection Acts, the federal government is making it virtually impossible to be a mortgage broker. By extending the application of the Truth in Lending Act to include mortgage brokers (formerly limited to "creditors") and clearly defining, and otherwise limiting, how brokers can be compensated (YSP is dead), the act is forcing brokers to rethink the way that they do business.