Technology

The Census Bureau reported that sales of newly built single-family homes fell to a 350,000 seasonally adjusted annual rate in June from a 382,000 rate May.

Residential loan applications increased 1% for the week ending July 20 (from the week prior) but with refinancings accounting for 81% of all new business.

Special servicers work with information from multiple sources and they have to ensure quick and accurate dissemination of that data within its organization, which creates numerous data management challenges.

Seven affordable housing groups are urging the Department of Justice, HUD and federal regulators to investigate whether the prevalence FHA and VA lending in minority neighborhoods—and the low percentage of conventional lending—is a result of racial steering.

Mortgage vendor Nationwide Title Clearing is continuing to hire new employees, adding 66 full-timers in the second quarter.

CoreLogic earned $41 million off revenue of $389 million during the second quarter of 2012—new records for the company which was spun off from the First American Corp. in June 2010.

Monday marked the implementation deadline for the Uniform Loan Delivery Dataset, the new loan-level mortgage information file format developed by Fannie Mae and Freddie Mac for all loans sold to the government-sponsored enterprises.

When it comes to automation technology, servicers are faced with a myriad of choices between traditional, in-house software versus vendor-hosted services, or software-as-a-service delivery options.

Forecasters expect Wednesday’s new-home sales report will show June sales rose by barely 1% after a 7.6% jump in May.

In reaction to the mortgage industry’s woes, and in some cases in spite of them, technology has marched on giving us new tools, techniques, and tactics that enhance our ability to be vigilant.