Technology

The National Association of Realtors reported that its pending sales index jumped nearly 6% in May back to 101.1, the same level in March and the highest this year.

Attempts by Mortgage Guaranty Insurance Corp. to sell off its eMagic and Myers Internet units have failed and the mortgage insurer will shut down the pair of technology providers on Sept. 1.

In the wake of several significant regulatory developments, and with more changes looming, it seems clear that esponsible servicing professionals will need to evolve and adapt to new realities.

Freddie Mac purchased $30.7 billion in residential mortgages from lenders in May, up 19% from April.

The S&P Case-Shiller house price index rose 1.3% in April for the first time since August.

The Census Bureau reported that sales of newly built single-family homes rose to a 369,000 seasonally adjusted annual rate in May from a 343,000 rate in April.

California pending home sales for May were flat from April, but posted double-digit gains from a year ago for the fourth straight month.

Mortgage technology vendor Ellie Mae will offer 3 million shares of its stock in a public offering announced Monday.

As mortgage industry companies are putting a greater emphasis on technology and the Internet today to create a more successful business, executives across the country need to be aware of tactics that cybercriminals are using to hack into computer systems in order to access financial accounts and other high-level proprietary information.

Major servicers are in various stages of setting up their systems and training personnel to provide struggling homeowners with a single point of contact that they can rely on as they go through the loan modification process.