Technology

Mortgage technology and service provider Lender Processing Services earned $21.4 million in the second quarter, a 73% decline from the same period a year earlier, citing restructuring charges and lower revenue.

Loan origination system provider Wipro Gallagher Solutions has integrated the settlement services pricing data of Ernst Publishing, providing lenders technology to help accurately complete Good Faith Estimate and HUD-1 disclosures.

A series of integrations to third-party data and analytics providers is beefing up CoreLogic’s LoanSafe Fraud Manager, the mortgage fraud detection technology that the Santa Ana-based firm said uses pattern recognition to provide business intelligence into lenders’ risk levels.

Some federally-regulated depositories are in danger of missing a July 29 deadline to be registered in the National Mortgage License System and Registry, exposing themselves to possible sanctions from regulators.

To help lenders automate paperwork quicker, Mortgage Cadence, a compliance, content, and document creation and management business, has spun off its Finale division into a standalone entity called Finale Document Services.

Large originators and servicers have long relied on the efficiencies and cost savings of outsourcing, some going as far as building their own offshore facilities, known as “captives” among business process outsourcers. But now, outsource vendors are offering custom fulfillment services, combined with loan origination technology, to small and midsize lenders.

The loan modification process needs a reboot that uses technology to help borrowers understand the process and provide faster resolution to loan files, according to panelists speaking at the Best Practices in Loss Mitigation Conference that National Mortgage News' parent company SourceMedia sponsored this week in Dallas.

Zillow completed its initial public offering, listing its common stock on the NASDAQ exchange at $20 a share.

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DRI Management Systems has released a new portal to the DRI Office default servicing management platform aimed at providing better communication between real estate brokers and servicer asset managers in real estate owned property dispositions.