Technology

Browse articles from all of our Newsletters related to Technology.

December 15, 2014 - IMFnews

It’s Official: LenderLive Will Sell Control of Company to Private Equity Firm

Aquiline is headed by Jeffrey Wayne Greenberg, son of former AIG chairman Maurice “Hank” Greenberg.


December 12, 2014 - Inside Mortgage Trends

Can a Software Vendor Grow in a Flat Market?

Mortgage production likely will be flat in 2015, a prognosis that usually doesn’t warm the hearts of vendors that make their living off of originators. But don’t tell that to Ellie Mae, the publicly traded mortgage software provider whose Encompass platform has been growing steadily in recent years. In an interview with Inside Mortgage Trends, company President and Chief Operating Officer Jonathan Corr predicted that Ellie Mae’s revenues will grow by 25 percent next year, the same growth rate as ...


December 12, 2014 - Inside Mortgage Trends

Execs Are Tackling Complaints With Technology

Executives at mortgage lending operations and other financial services providers are increasingly relying on the latest technology to get a better handle on consumer complaints filed with the Consumer Financial Protection Bureau, according to a recent survey by Aptean, an enterprise application software vendor based in Atlanta. “To minimize both costs and consumer friction, savvy financial institutions are leveraging technology to identify and manage the root cause of consumer complaints ...


December 11, 2014 - IMFnews

Funding for FHA’s HAWK Initiative Killed, Higher Premiums Nixed Too

A proposed FHA administrative fee as high as 4 basis points to fund quality assurance enforcement and technology upgrades also went down in flames.


December 10, 2014 - IMFnews

Short Takes: Are Investors Done Selling Ocwen’s Stock? / Who Might DocMagic Buy Next? / How is CitiMortgage Like Ocwen? / CFPB Budget Rises / Fannie Mum on Reinsurance Partners

But is DocMagic president and CEO Dominic Iannitti done buying? Stay tuned…


December 5, 2014 - Inside FHA Lending

FHA to Share in Landmark BofA Settlement

The FHA and Ginnie Mae will share in the record-setting $16.7 billion settlement between Bank of America, the Department of Justice and certain other federal agencies and six states to resolve claims related to mortgage fraud and toxic mortgage-backed securities. The FHA will receive approximately $800 million and an undisclosed amount for consumer relief from BofA. The bank was accused of falsely certifying poorly underwritten loans for FHA insurance, resulting in huge losses for the agency. It is unclear how much Ginnie Mae’s share would be from the settlement. “As a direct endorser of FHA-insured loans, Bank of America performs a critical role in home lending,” said U.S. Attorney Loretta Lynch for the Eastern District of New York during the announcement of the global settlement in August. “In obtaining a payment of $800 million and sweeping relief for troubled homeowners, we have not ...


November 26, 2014 - Inside Mortgage Trends

MISMO Issues Latest Residential Reference Model

The Mortgage Industry Standards Maintenance Organization recently released version 3.3.1 of its residential reference model for public comment. This version of the standard includes data points and structures related to a number of recent regulatory and reporting requirements and additions in the areas of mortgage insurance coverage and conditions, title, payoff and property valuation. “Version 3.3.1 of the MISMO Reference Model and Logical Data Dictionary are the direct result of MISMO contributors from across the industry collaborating to solve business problems and develop the standards needed to meet industry needs in today’s rapidly changing regulatory and compliance environment,” said Mike Fratantoni, president of MISMO and chief economist for the Mortgage Bankers Association. In addition to the LDD, XML schema and ...


November 26, 2014 - Inside Mortgage Trends

Technology Boosts Homebuyer Confidence, Savvy

A recent independent survey commissioned by Discover Home Loans found that most homebuyers believe online technology improves their search and purchasing ability. According to the results, 89 percent of homebuyers used some form of online technology to help them with the home purchase process. Almost half of all homebuyers, 47 percent, said technology saved them money while 92 percent said it saved them time. Specifically, 83 percent of the group looked at real estate listings or applications like Trulia or Zillow, while 72 percent used online maps or map apps to explore potential neighborhoods. Approximately 55 percent researched a neighborhood using local websites. The majority of respondents, 90 percent, said using technology was a “positive experience.” Two-thirds of this group ...


November 26, 2014 - Inside Mortgage Trends

Digital Services Could Increase Share, Boost Profits

Banks are lagging behind consumer expectations when it comes to digital technologies, especially as far as younger, more elusive borrowers are concerned. But for those institutions that get with the program, they can boost their market share and their bottom line, a new study from Cisco Consulting Services suggests. For mortgage lenders, making an obvious move in a digital direction, such as offering a remote “video mortgage,” could increase profits by as much as $134 million for a financial institution with $10 billion in annual revenue, according to the study. There appears to be strong market interest in such services. Fifty-four percent of U.S. respondents surveyed were interested in the mortgage advisor concept, and 42 percent would likely choose a ...


November 25, 2014 - IMFnews

Short Takes: So, Where’s the Housing Bubble? / Altisource Buys Owners.com / A $1 Billion Quarter for FGMC / Delinquencies at Freddie Continue to Fall

What exactly is Owners.com? Launched in 1996, it’s supposedly the largest directory of homes for sale by owners. In other words, they don’t use traditional Realtors…


November 24, 2014 - IMFnews

CFPB eClosing Program Will be a Plus, Eventually

However, the technology initiative will not be a slam dunk. Real estate laws vary from state to state, which can present a high hurdle for large national lenders to clear.


November 18, 2014 - IMFnews

FHFA: Extensive ‘Testing’ Underway at Common Securitization Platform

In 2015, the team at the GSE common securitization platform will focus on implementation of the remaining software components...


November 14, 2014 - Inside Mortgage Trends

Real Estate Agents Gone by 2030, Report Predicts

By 2030, artificial intelligence will have transformed businesses and the work that people do to the extent that certain jobs, such as real estate agents, will become extinct, according to a new report from realty consulting firm CBRE and property developer Genesis. The ideas, trends and behaviors that will shape work and the workplace in 2030 are already noticeable today, said the report. When that time comes, “where we work and live will be diverse and intertwined,” it said. The report was based on interviews with 220 experts, business leaders and young people in Asia, Europe and North America on how these observed trends will impact business and evolve work practices and the workplace. The report predicts that process work, ...


November 12, 2014 - IMFnews

Short Takes: Subprime Vet Jon Daurio Back in Biz? / Don’t Get Drunk on the Lawsky ‘News’ / Can the GOP ‘Fix’ the CFPB? / Nationstar Disappoints Some / Gateway Hires BB&T Mortgage Official

Will former Long Beach Mortgage executive Jon Daurio finally launch a new nonprime venture?


November 12, 2014 - IMFnews

Ocwen Affiliate Altisource Exits Force-Placed; Stock Gets Crushed

As IMFnews went to press, the share price of Altisource was getting slammed, down 20 percent on the day.


November 10, 2014 - IMFnews

MBA: FHFA Should Consider Alternative GSE Credit Score Models

Fannie and Freddie have been exploring the adaptation of alternative credit scores for months, but have yet to take action.


Poll

What will Fannie Mae’s and Freddie Mac’s new 97 LTV programs mean for your business?

It will give our business a big boost as there is a lot of pent up demand for the product.
It will have only a minor impact on our overall business as we already are doing high LTV business through FHA and some of our high LTV FHA business is likely to shift to Fannie and Freddie.
It won’t have any impact on our business as we plan to steer clear of all high LTV business – particularly in the GSE market.

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