Technology

A new Federal Housing Finance Agency initiative will require the government-sponsored enterprise to create a common data standard and new servicing form under the Uniform Mortgage Data Program.

Ellie Mae nearly doubled its revenue in the first quarter of 2012, turning net income of $3.6 million, compared to a net loss of $800,000 in the year-over-year quarter.

Quicken Loans Inc. plans to increase staffing at its Cleveland Web Center by at least 25%, as the company will add 100 new employees to the more than 300 already working at the location.

From time to time I hear appraisers talk about the fact that they feel undervalued, and that the business they’re in is becoming increasingly difficult. Some feel it’s a downright hostile environment for appraisers today.

There was a lot of shock, sadness, and yes, grief here at SourceMedia at the recent passing of Neil Morse. We knew Neil as a gifted mortgage writer, an indefatigable road warrior, a thoroughly professional public relations executive, and finally as a colleague for his work with our conference group. He died way too soon (he was 62). But he had an impressive life.

Mortgage applications rose a scant 0.1% for the week ending April 27 with refinancings slipping ever so slightly.

PHH Corp. posted net earnings of $75 million for the first quarter, turning a profit on its residential mortgage operation, but suffering charges on its servicing business. In 1Q11, the company earned $49 million.

ISGN Corp., Melbourne, Fla., hired Matthew Mesmer as associate general counsel with a focus on regulatory compliance, corporate compliance, ethics, risk management and operational compliance.

It appears that a flip-flop of sorts is happening in regard to the FHA and VA programs.

Recent hikes in FHA premiums appear to be causing a shift in government-backed mortgage programs.