Technology

The judging panel is making the final call for nominations to the 2011 Mortgage Technology Awards.All submissions must be received by July 8 at 6 p.m. Eastern.

TSS Software Corp. added a transaction-based pricing option to its TitleSphere software-as-a-service for HUD-1 and Good Faith Estimate document preparation.

Document preparation vendor DocuTech will begin offering electronic doc management services through a partnership with provider Xerox Mortgage Services.

The following is an excerpt from the June edition of Mortgage Technology magazine. To read the full story and much more, download the latest free e-edition.

Most lenders and servicers likely may pay no mind to the work of the Mortgage Industry Standards Maintenance Organization’s contingent of dedicated volunteers. They don’t care how the technology works; they just want it to work.

Servicers for Fannie Mae and Freddie Mac will redo the foreclosure process on 1,250 real estate owned properties in Michigan, the result of an appeals court ruling in April that deemed Mortgage Electronic Registration Systems Inc. ineligible to use the state’s nonjudicial foreclosure process.

NovaStar Financial Inc., Kansas City, Mo., has completed its recapitalization program as its Series C Cumulative Redeemable Preferred Stock has been exchanged for nearly 44 million newly issued shares of its common stock and $1.6 million in cash.

Mortgage and real estate industry-related firms will be active in the annual reconstitution of the Russell Investments equity indexes, taking place after the close of markets Friday.

Ellie Mae and Lenders Processing Services were the only mortgage-related stocks bucking the negative trend on Wall St. Thursday morning, as the Dow Jones Industrial Average, once down 235 points on the day, was still off 156 at 1 p.m.

The decline of mortgage brokers has had a profound affect on loan origination system provider Ellie Mae. As indicated by the Pleasanton, Calif.-based company’s disclosures to the Securities and Exchange Commission, its customer base has shifted dramatically from broker to lender since 2008.