Technology

The correspondent lending division of Wells Fargo is serving as the pilot user for new customized investor guideline functions in origination technology vendor Ellie Mae's Total Quality Loan service.

With housing prices falling and the number of vacant properties on the rise, banks are under pressure from regulators to improve their loss mitigation success rates.

LoopNet, a company that tracks all commercial real estate transactions nationwide including office, industrial, retail, multifamily, hotel, land, specialty properties and businesses for sale, has made changes to improve its database.

Product and pricing engine NYLX is adding to its platform a Mortgage Harmony loan product that gives borrowers at certain times the option of lowering their rates to market level.

Risk mitigation provider Interthinx has launched its Quality Control Review Services product that combines the firm's automated technology platforms with loan-level audit expertise.

HP Enterprise Services, Palo Alto, California, has signed a five-year extension of its agreement with Loan Value Group LLC, Rumson, N.J.

Certain types of automation are increasingly central to most branching strategies these days. This is true not only in terms of managing branches within the company, but also in terms of interactions with external business partners that are part of the loan-making process.

Many lenders still rely on paper loan files that get passed from loan officer to underwriter, underwriter to closing agent, and so on, during the origination process.

Mortgage document preparation software is kind of like shopping for a new suit. Like the rows of suits in a variety of styles, colors and sizes; massive libraries contain a variety of ready-to-use electronic forms for lenders to prepare initial disclosure and closing documents.

Default servicing technology provider DecisionReady this week released a new compliance management module designed to aid servicers in handling their relationships with vendors.