Technology

The head of a county land registry in Massachusetts is requesting his office close its deposit account with Bank of America in protest of the bank's affiliation with MERSCorp Inc., which runs the Mortgage Electronic Registry Systems.

A group of funds managed by Boston-based Highfields Capital Management increased its stake in mortgage technology and services vendor Lender Processing Services to 5.2% of common stock, according to new documents filed with the Securities and Exchange Commission.

As the industry copes with the “new normal,” mortgage lenders have three goals in mind when it comes to how they invest in information technology—compliance, managing economic cycles and expanding market share.

It’s no secret that mortgage technology providers Calyx Software and Ellie Mae are fierce competitors. It’s not uncommon for the two vendors to battle for the same lenders’ loan origination system business and the two companies have a long and complicated history, including a copyright infringement lawsuit filed by Calyx that settled out of court by Ellie paying Calyx an “undisclosed sum” in late 2005.

It’s no secret that mortgage technology providers Calyx Software and Ellie Mae are fierce competitors. So when each company recently purchased a product and pricing engine vendor, questions quickly came up about the two companies' new mutual customers.

Mortgage technology vendor Ellie Mae on Tuesday priced its initial public offering, laying out plans to raise between $40 million and $60 million.

It's not quite a mortgage technology conference without the release of at least one loan origination system – and several upgrades.

Congressional demands for the Federal Housing Administration to improve transparency, data accuracy, and legacy technology platforms have been backed by additional resources allocated to the effort.

Mortgagebot, the Mequon, Wis.-based provider of online mortgage rate search and loan application technology, was acquired by Canadian financial services technology provider Davis Henderson Corp. for US $231.8 million, the companies announced Thursday.

Mortgage Technology magazine will again recognize technology developers, mortgage lenders and servicers with its prestigious Mortgage Technology Awards.