Technology

While MERS QA is neither unreasonable nor unexpected, the challenges uncovered in the race to comply are significant. Never before has the industry asked servicers to ensure the data of originators.

When purchasing distressed properties across the country, buyers continue to be more interested in acquiring pre-foreclosed homes rather than bank-owned assets, according to the latest figures from RealtyTrac.

It would appear that the future is starting to brighten for loan brokers, at least according to new figures released by the Nationwide Mortgage Licensing System, which shows an increase in the number of state-licensed LOs and mortgage companies.

ClosingCorp has introduced a business-to-consumer online loan cost estimate calculator that includes a lead generation component, and is offering it in conjunction with real estate Internet sites.

Residential loan applications fell 0.3% for the week ending February 24 while refinancings continued to dominate the business, according to new figures compiled by the Mortgage Bankers Association.

Banks and consultants are looking to improve money laundering detection systems using lessons adapted from their fight against consumer fraud.

Mortgage bankers funded roughly $404 billion of home mortgages in the fourth quarter, a 13% sequential gain, but a 25% decline from the same period in 2010, according to final survey figures compiled by National Mortgage News and the Quarterly Data Report.

Technology is building new bridges between traditional appraisals, automated valuations, sensitive property data and housing market analytics. Federal regulation adds to the mix the development of regulatory-compliant appraisal solutions for banks and third-party service providers.

Boston-based Highfields Capital Management, which owns a 7.7% stake in CoreLogic, accused CoreLogic's board of directors' "desire to maintain control rather than doing what is in the best interest of shareholders."

Single-family originations by commercial banks and savings institutions jumped 23% in the fourth quarter as refinancing activity accelerated from the prior period, according to new figures released by the Federal Deposit Insurance Corp.