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• A No Vote On Dodd-Frank Reform

  Mortgage Technology | July 29 | Free with Registration

  Thanks to the Dodd-Frank Wall Street Reform and Consumer Protection Acts, the federal government is making it virtually impossible to be a mortgage broker. By extending the application of the Truth in Lending Act to include mortgage brokers (formerly limited to "creditors") and clearly defining, and otherwise limiting, how brokers can be compensated (YSP is dead), the act is forcing brokers to rethink the way that they do business.

• Using Tech In Attracting New Business

  Mortgage Technology | July 29

  Customer loyalty. lofty goal, but what does it mean? And who are our customers? Is it just borrowers, or is it everyone we do business with? In today's tough mortgage market, with dramatically decreased origination volume, and consumer confidence in the mortgage industry at an all-time low, attracting new business has never been more competitive. Establishing and maintaining loyalty with borrowers, referral sources, vendors-all are paramount to long-term success.

• More Technology Improvements On The Way

  Mortgage Technology | July 29 | Free with Registration

  It is no understatement to comment that the Internet has transformed the mortgage lending industry in many ways. The point-of-sale has been influenced tremendously, with borrowers quickly becoming accustomed to rate shopping during the refinance boom and lenders providing an ever-increasing number of online tools to cement relationships. That lenders are rarely able to replace the human element entirely is really not a surprise.

• Renewed Demand, Focus on Technology Selection

  Mortgage Technology | July 29 | Free with Registration

  The new Internet generation of online-only customers and readers, along with businesses eager to explore their information technology options, is growing. Up to 70% of adults who use the Internet also use online banking, and only 7% of those who have signed up do not use it. Findings from Mintel Comperemedia also show that 30% of online bankers log on to pay their mortgages or credit cards.

• Regs Continues to Drive Automation-Especially for Production Docs

  Mortgage Technology | July 22 | Free with Registration

  Regulatory changes continue to be what largely drives automation for those on the production side, especially when it comes to the documentation necessary, according to executives at DocMagic Inc., Carson, Calif., which does business as Document Systems Inc. Dominic Iannitti, president of DSI, said regulatory developments continue to be "the big focus" in his business. "That, to me, is everything," he told Origination News.

• Operational Response to RESPA Change Still Needs Improvement

  Mortgage Technology | July 22 | Free with Registration

  The StoneHill Group Inc. is seeing a downtick in errors under the new RESPA rules although the company still has some clients who are struggling with the total implementation of these regulations, which have been in effect since the beginning of January.

• In-House Servicing Platforms Feeling Strain

  Mortgage Technology | July 22 | Free with Registration

  Every servicer and lender has an in-house servicing platform that measures major compliance milestones. But in today's environment that's not enough to tackle the ever-changing legislation that is constantly coming their way, according to Chris Saitta, president of Equator. "It's really that granularity of the day-to-day decisions and day-to-day process bifurcated by which portfolio the property is in and which investor and which [mortgage insurance] company. It's a very complex decision process so you need a technology that can get into the granularity of automation."

• Partnership Facilitates Scaling of Retail, Wholesale Operations

  Mortgage Technology | July 22 | Free with Registration

  To enhance its loan origination process, Carnegie Mortgage LLC, a subsidiary of Grand Bank NA of Hamilton, N.J., is relying on a new partnership that has helped bring up to date its mortgage lending and document management technology platform. The partnership brings together the private and consumer centric banking environment of Carnegie Mortgage with state-of-the-art platforms and service offerings of Mortgage Cadence that helps reduce manual processes, enforces compliant business policies, decreases risk and "allows for the relocation of employees to areas within the business that require a personal touch," says Michael Detwiler, CEO of Mortgage Cadence.

Other Voices

• Perspective: Greater Profitability for Lenders in Today's Unstable Lending Environment

  National Mortgage News | July 15

  What are the best options available to lenders to deal with today's ever-changing loan volumes while maintaining loan performance?

Blog of the Week

• AmTrust Servicing Auction Coming

  What We're Hearing | July 14

  It appears the Federal Deposit Insurance Corp. will begin taking final bids on the $23 billion AmTrust servicing portfolio by the end of July with a winner picked shortly thereafter, or so we're told. Only a handful of players can take down the whole portfolio but investors can buy portions of it. The FDIC and its investment banker on the deal, Milestone Merchant Partners, aren't giving much guidance on the pool these days. Meanwhile, General…