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Industry Leaders LPS and KMC Information Systems Form Strategic Alliance

Integration of LPS Technologies and CaseAware Case Management System Will Improve Foreclosure Processing Efficiency and Transparency 

Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, and KMC Information Systems (KMCIS), the leading provider of case management and integration technology to law firms and trustees, have formed a strategic alliance that will more fully integrate select LPS technologies with KMCIS’ CaseAware® platform and create an end-to-end foreclosure processing solution for loan servicers.

 Click here to read the full release

Optimal Blue launches mortgage pricing applicationOpen in a New Window

Optimal Blue introduced QuickSearch, a privately branded mortgage pricing app for mobile devices, during its 2015 Client Conference to allow loan officers to perform real-time pricing searches for their borrower.

 

Chicago biz pub: Redfin school data isn’t accurateOpen in a New Window

Chicago Real Estate Daily, a Crain’s publication, says that Redfin is posting inaccurate ratings on some schools, which could potentially turn some buyers away from the neighborhoods around them.

 

BOK Financial hires new mortgage presidentOpen in a New Window

BOK Financial named Glenn Brunker to lead BOK Financial Mortgage, bringing nearly 30 years of financial industry experience to his new role. In this position, Brunker is charged with managing all mortgage origination channels.

 

Construction spending rises in May but residential component weakOpen in a New Window

Construction spending during May 2015 was estimated at a seasonally adjusted annual rate of $1,035.8 billion, 0.8% above the revised April estimate of $1,027.0 billion, the U.S. Census Bureau of the Department of Commerce announced today.

 

Mortgage applications drop as interest rates rise to 9-month highOpen in a New Window

Mortgage applications decreased 4.7% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 26, 2015. Want to know why?

 

CFPB Watch: Congress fights for controlOpen in a New Window

“The CFPB undoubtedly remains the single most powerful and least accountable Federal agency in all of Washington,” Jeb Hensarling said. “When it comes to the credit cards, auto loans and mortgages of hardworking taxpayers, the CFPB has unbridled, discretionary power not only to make those less available and more expensive, but to absolutely take them away.”

 

Company spotlight: Walz and LenderLiveOpen in a New Window

”Together, we provide enhanced mortgage technology, compliance capabilities, critical borrower communication and fulfillment solutions and data-enriched analytics that greatly reduce companies’ compliance and operational burdens. It is exceptional how well the companies complement each other,” said Jonathan Kunkle, president of LenderLive’s GuardianDocs division.

 

Smoking gun?Open in a New Window

The Treasury document also contradicts statements made a number of times by Treasury officials about the capital ratios that Fannie Mae and Freddie Mac would have to maintain. The document claims the percent is 3% to 4%, while statements since then have claimed 10%.

 

How servicers can change the conversation with consumersOpen in a New Window

“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.”

 

The awful truth about TRIDOpen in a New Window

The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry.

 

Why SOC 2 audits matter, now more than everOpen in a New Window

With the huge adoption of managed IT services (better known as SaaS or cloud services), an SOC 2 audit provides a definitive statement of security assurance. This warrant is exactly the kind of information that financial institutions need when evaluating managed service providers.

 

August and everything afterOpen in a New Window

Significant regulatory changes such as the upcoming TRID rollout serve as compelling reminders that today’s mortgage default servicing industry requires quality technology that is both well-managed and well-maintained. To optimize efficacy, every link in the servicing chain needs to have a strong technological foundation: As a community, we have to work together to commit to a coordinated and consistent approach.

 

Balancing risk mitigation with profitOpen in a New Window

 

Veros: Connecting to the FHAOpen in a New Window

At the turn of the market, while other valuation technology companies were struggling to keep the doors open, Veros had diversified its focus to include the development of valuation management software services, as well as two landmark industry innovations.

 

Ellie Mae adds Peter Hirsch as executive vice presidentOpen in a New Window

Ellie Mae, a provider of on-demand software solutions and services for the residential mortgage industry, named Peter Hirsch the company’s executive vice president of technology and operations.

 

DocMagic names Edward Komski national sales managerOpen in a New Window

In this role, Komski will be responsible for introducing DocMagic’s entire suite of software solutions to large, enterprise-level lending organizations.

 

The history of g-feesOpen in a New Window

The average level of guarantee fees charged has increased since 2009. However, as the study shows, the changes will result in little or no change to borrowers. This chart gives a comprehensive history of g-fees since 2008.

 

Seattle’s ‘Up’ house now facing demolitionOpen in a New Window

A truly unique Seattle-area home that boasts neighbors like L.A. Fitness and Trader Joe’s is on the verge of being torn down, a sad end to a tale that many likened to a real-life ‘Up.’

 

Treasury sweep of Fannie, Freddie shareholder profits "costly for housing"Open in a New Window

Yale Law School lecturer Logan Beirne examined a lawsuit recently filed by three Fannie Mae and Freddie Mac investors accusing the federal government of exceeding its authority as a conservator, and in a National Law Review article, he supports their contention.

 

USDA reportedly raising guarantee fees for 0% down mortgagesOpen in a New Window

The price that borrowers pay for a 0% down payment loan from the U.S. Department of Agriculture’s Rural Housing Service is reportedly set to rise later this year. Click through to learn more.

 

Ellie Mae publishes comprehensive TILA-RESPA guideOpen in a New Window

Ellie Mae is publishing a free, 16-page RESPA-TILA FAQ guide to help lenders understand and comply with the Integrated Disclosure Rule, currently scheduled to go into effect Oct. 3.

 

Black Knight updates LOS for TRIDOpen in a New Window

TRID is coming, and as a result, Black Knight Financial Services released the latest version of Empower, its loan origination system for retail and wholesale lending to be ready for the Consumer Financial Protection Bureau’s upcoming implementation date.

 

5 tips for new renters this summerOpen in a New Window

There are a few things that many renters don’t realize they’re missing until after it’s too late. Here are five rental reminders before the next big move.

 

S&P Case-Shiller: Home price gains slowed in AprilOpen in a New Window

Home prices in April continued their rise across the country over the last 12 months, but the pace of the gains slowed, according to the S&P/Case-Shiller Home Price Indices. Is there a problem?

 

Citi fails National Mortgage Settlement loan modification metricOpen in a New Window

Citi failed one of the new metrics used by the National Mortgage Settlement and the Monitoring Committee regarding loan modifications. What about the other big banks?

 

Equifax: Mortgage originations soar 75% from last yearOpen in a New Window

Mortgage originations are booming, increasing nearly 75% from last year thanks to first mortgages, which grew 79.9% versus the first quarter of 2014 to $430 billion.

 

Plutos Sama acquires The Fisher Law GroupOpen in a New Window

Plutos Sama completed the acquisition of The Fisher Law Group, a default law firm practicing in Maryland and the District of Columbia, resulting in an increase of projected revenue from $54 million to $64 million.

 

Realtor.com: Here are the 20 hottest markets this summerOpen in a New Window

He’s been consistently more optimistic and consistently right on sales. Realtor.com’s chief economist Jonathan Smoke explains why it’s a seller’s market.

 

High-risk FHA loans push mortgage risk index up in MayOpen in a New Window

The composite National Mortgage Risk Index for Agency purchase loans stood at 12.33% in May, up 0.4 percentage point from the average for the prior three months and up 0.7 percentage point from a year earlier. Worried yet?

 

Who are the homebuying Millennials?Open in a New Window

The average age of a Millennial homebuyer is 28. After a recent survey from more than 5,400 Millennials, Endeavor America Loan Services found they are outgrowing their usual stereotype.
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