Technology

The Consumer Financial Protection Bureau has ramped up its push for the mortgage industry to switch to an electronic closing process after results from a pilot program showed consumers favored it over in-person mortgage closing.

Ginnie Mae has updated the procedures manual used by the custodians of documents involved in mortgage-backed securities.

Years after the crisis, fundamental problems in default servicing still exist and in order to move forward, servicers must reimagine their processes to better manage overall volume and spikes in demand.

Unlike in personal loans, where Lending Club saw an opportunity to lower the cost of consumer credit card debt, in mortgages, the play is not in providing lower-priced credit, but rather in removing friction, Renaud Laplanche says.

Lenders said the delay in implementing the combined loan and closing disclosures is giving them valuable added time to train their staff, according to a DocuTech survey.

Fidelity National Financial has recapitalized ServiceLink Holdings, increasing its ownership in the transaction services company.

Lawmakers included a measure that will impose new mortgage reporting requirements on banks and servicers as part of a short-term highway funding bill passed this week by both chambers of Congress.

Mortgage professional hiring and new job appointments for the week ending July 31.

Fidelity National Information Services Inc., the payment-services provider, is in exclusive talks to buy SunGard Data Systems Inc. in a deal with an enterprise value of more than $8.3 billion, people familiar with the matter said.

Ellie Mae reported higher profits in its second-quarter earnings. With net income of $7.6 million, its profits rose 62% from the same period in 2014.