Technology

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.

Since agreeing to a consent order with federal regulators last year, Wells Fargo has embarked on an aggressive plan to implement new loss mitigation strategies and improve upon existing practices.

With the numerous program guidelines, strategies and other challenges facing mortgage servicers, the ability to rapidly develop and deploy technology is crucial for current and future loss mitigation efforts, according to a panel at the National Mortgage News “Best Practices in Loss Mitigation” Conference in Dallas.

Freddie Mac is hiking its origination forecast by $200 billion to $1.65 trillion for the year.

Sales of existing homes unexpectedly fell 5.4% in June after holding steady in April and May.

An Oregon homeowner’s fight against Merscorp Holdings was revived after a state appellate court reversed a lower court’s decision to rule in favor of the owner of the Mortgage Electronic Registration Systems before the case went to trial.

LOS providers who offer, and lenders who select, an EDM product that’s crafted and maintained by a team of skilled craftsmen, not a “Jack of all trades” won’t be disappointed; even after the check is cashed.

Mortgage Technology will commend the lenders and servicers that use technology to improve processes, provide exceptional customer service and increase business with its annual list of the Top Tech-Savvy Lenders and Servicers. The deadline for all nominations is 6 p.m. EDT Thursday, August 16, 2012.

FraudGuard and PredProtect have received assessments from SecureInfo that shows both of these tools have low security risk.

June statistics from the California Association of Realtors show home sales experienced solid gains annually and home prices reached their highest level since August 2010.