Technology

Mortgage servicing has a reputation for being cold and impersonal, but companies have the opportunity to put more of a personal touch on their interactions with borrowers by analyzing the wealth of data available to them.

The Consumer Financial Protection Bureau's proposal Friday updating its mortgage disclosure rule did not give lenders what they wanted: an ability to correct errors after a loan has closed and a release from liability for technical violations. But the 293-page proposal did provide revisions that will help in compliance and the closing of more loans.

The private equity firm GTCR is interested in fintech companies looking to disrupt the status quo, so long as they have proved themselves and are paired with managers who have a long track record of success.

The CFPB updated its "Know Before You Owe" mortgage disclosure rule to provide more clarity to lenders. It has proposed additional tolerance provisions, clarified a partial exemption for housing finance agencies, extended the rule's coverage to all cooperative units, and provided more clarity about privacy and the sharing of information.

Ellie Mae had second-quarter net income of $10.6 million as its revenue per Encompass user rose by 14%.

Chronos Solutions has acquired Spokane Valley, Wash.-based UPF Services, marking its fourth acquisition in just over a year a half.

FNF Group, a division of Fidelity National Financial, has agreed to acquire real estate software company Commissions Inc.

Sentiment regarding the need for disruption in the mortgage tech space remains divided, though a majority of lenders agree that the industry is working to innovate for better efficiency.

CoreLogic reported higher net income during the second quarter, reflecting the positive impact of its new valuation subsidiary and acquisitions.

Technology developed by SmartZip analyzes 2,000 variables about a housing market and its homeowners to help real estate agents and lenders identify consumers most likely to sell their house or need a new mortgage.