Technology

A Tennessee-based mortgage origination and servicing software vendor is now offering its two products in a combined offering.

While existing home sales were better than expected by most in the industry, up 7.6% in August, the numbers are still the weakest the industry has seen in 10 years, and housing experts do not expect a speedy recovery.

Facing an unprecedented volume of repossessed homes, asset managers for the mortgage industry are searching for better ways to streamline and expedite the process of selling real estate-owned and managing short sales.

Mortgagebot PowerSite, called by Forrester Research Inc. “the de facto origination tool” for a long list of U.S. banks and credit unions, has received numerous awards. PowerSite is offered on an outsourced, Software-as-a-Service basis. Perennially included in Mortgage Technology’s Top 50 Service Provider list, Mortgagebot has received more MT awards than any other company, such as our Lasting Impact, Synergy and 10X Awards.

Wipro Gallagher Solutions has combined its fully hosted and managed origination system, NetOxygen Cirrus, with the loan processing services from Wipro into a complete end-to-end loan fulfillment and servicing platform.

San Diego-based Taza Corp. is providing new software directly to asset management companies in order to help clients cut out the middleman and directly run their own BPOs through its network of agents.

VirPack not only has improved its end-to-end paperless loan process solution, it will be contributing to a program that replants trees in the country's national and state forests.

Servicers may be missing out on mortgage technology advances of the past few years due to capacity pressures and HAMP compliance challenges.

The Houston and Dallas metro areas are expected to show the strongest home price appreciation over the next year in the most recent update to the U.S. real estate market forecast from Veros Real Estate Solutions.

The LPS Auction Solutions division of Lender Processing Services will conduct an online auction of 26 bank-foreclosed homes located nationwide with a bid deadline of Oct. 18.