Technology
By Carrie Bay | 02/07/2012
Fannie Mae announced Tuesday that it has expanded its online system to accept purchase offers for all its REOs listed for sale. Real estate agents will now submit offers online on behalf of clients, receive receipt confirmation, and track the status of submitted offers through the HomePath.com website. In November 2010, Fannie Mae launched the HomePath Online Offers pilot in Orlando, Florida; San Diego, California; and Detroit, Michigan. Now, the Online Offers feature is available for all Fannie Mae-owned properties across the nation.
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By Carrie Bay | 02/03/2012
New York Attorney General Eric Schneiderman has filed a lawsuit against the nation's top three mortgage lenders charging that their use of the electronic registry system MERS has resulted in deceptive and fraudulent foreclosure filings throughout New York's state and federal courts. The lawsuit alleges that employees of Bank of America, JP Morgan Chase, and Wells Fargo, acting as "MERS certifying officers," submitted court documents containing false information. MERS is also named as a defendant.
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By Kelli Snowgren | 01/31/2012
IndiSoft announced Tuesday that the company has enhanced its RxOffice Premium Counselor Edition. The updated module has been approved by HUD to meet the reporting requirements of agencies participating in its Housing Counseling Program. It was created to address the surge in the number of homeowners needing counseling to make informed housing decisions, and gives counseling agencies a scalable and flexible web-based case management tool to manage their internal business operations.
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By Jason Myers | 01/26/2012
Default technology provider Equator has promoted Chris Michaels to VP of product development and Robert McKinley to VP of business development. Michaels has nine years of business analysis and product development experience. He will lead the team that provides business process solutions and system design for all Equator's clients. McKinley has led Equator's business development effort while working closely with new and existing customers. In his new role, he will continue to foster new business relationships.
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By Carrie Bay | 01/25/2012
The Mortgage Bankers Association (MBA) announced Wednesday the appointment of Peter J. Grace as the trade group's new VP of strategic planning and internal technology. Grace will facilitate the implementation of initiatives that involve membership engagement through a coordinated project management and leadership role. He joins MBA from HUD, where he most recently served as chief of staff for the Acting Deputy Secretary Estelle Richman.
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By Carrie Bay | 01/25/2012
ISGN Corporation has obtained a $20 million secured line of credit from JPMorgan Chase, the company announced Wednesday. The line of credit from JPMorgan is available through November 21, 2012, subject to certain conditions. ISGN says the terms allow the company to utilize the entire $20 million immediately to take advantage of market opportunities in the first half of 2012.
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By Carrie Bay | 01/24/2012
One of the keys to the housing market's recovery is managing and ultimately clearing out the inventory of distressed properties, according to DataQuick, a real estate data provider headquartered in San Diego, California. The company released its new RiskFinder Distress at the American Securitization Forum on Monday.
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By Carrie Bay | 01/12/2012
IndiSoft, a technology development firm that focuses on systems for the default services industry, recently announced that Earl Devaney has joined its advisory board. Devaney recently retired from the federal government after 41 years, most recently as President Obama's choice to oversee the distribution of the $787 billion American Recovery and Reinvestment Act of 2009 stimulus plan.
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By Carrie Bay | 01/06/2012
Aklero Risk Analytics Inc. provides mortgage quality control software and services to the industry via its automated data and document assurance platform. The company recently announced the release of a new DQx module for MERS data and document validation. The module is part of Q-Close, Aklero's loan quality management platform, and provides an automated method to validate the accuracy of data resident in the MERS electronic registry.
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By Krista Franks | 01/05/2012
In the servicing sector, compliance was the buzz word in the fourth quarter of 2011, according Equator, a leading software provider for the default servicing industry. And compliance will continue to be top-of-mind throughout 2012, according to the company. "The needs of our clients have focused on the demands for stricter compliance and Infrastructure Security," said John Vella, COO of Equator. Having released its short sale module in 2009, Equator has initiated almost 1.2 million short sales as of the fourth quarter of 2011.
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