Technology

Credit officers are weighing in on the current state of the markets, credit terms, securities financing, and over-the-counter derivatives, according to a recent Federal Reserve poll. The results were mixed, and a broad look at credit availability demonstrated no definitive direction in terms of easing versus tightening credit, which is a departure from June's findings that showed an overall loosening of credit across the board. Twenty-one financial institutions participated in the survey.

Mortgage appraisal company AppraiserLoft has closed its doors following numerous executive departures, rumors of non-payment to appraisers, and an ongoing lawsuit brought against the company's CEO regarding alleged activities unrelated to the company. According to numerous trade publications, AppraiserLoft made employees aware of the shutdown last week in advance of its official closure. Current clients are instructed to contact the company via its help-desk e-mail account.

Advantage Systems is set to offer enhanced programs to facilitate critical communication between parent companies that possess mortgage divisions. The company's Accounting for Mortgage Bankers (AMB) product can now be utilized with greater leverage to enable mortgage subsidiaries to operate outside of an entity's general ledger system, creating improved efficiency and streamlined processing.

U.S. Bank Home Mortgage's president and CEO, Daniel Arrigoni, has been named the next recipient of the MBA's Investing in Communities Award.

Nationwide, RE/MAX has ranked among the Franchise Times Top 200 annual survey. Coming in at number 15 on the elite list, RE/MAX received its third consecutive award within the franchise competition this year. Joining other top organizations including McDonalds, 7-Eleven, and Subway, RE/MAX ranked among survey honorees thanks in part to its worldwide sales volume.

NewDay Financial has another reason to celebrate, announcing that the company's servicing portfolio has ballooned to more than $500 million in government loans. News of the entity's growth within its servicing sector directly follows NewDay's recent honor from the National Coalition for Homeless Veterans, which named NewDay as the recipient of its annual Corporate Partner award.

Risk management and loss mitigation company zIngenuity, Inc., has hired a new vice president of business development, with the recent addition of Bob Voll. Charged with handling all sales and marketing activities, Voll will also work with zIngenuity├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós leadership team as the company prepares new product initiatives.

Shareholders in Municipal Mortgage & Equity, LLC, can now take a look at all proxy paperwork in preparation for the company's annual meeting. Better known as MuniMae, the entity has filed its proxy materials with the U.S. Securities Exchange Commission in advance of the 2011 Annual Meeting of Shareholders, which will take place on November 9. Listed among the OTC's collection of companies, better known as the riskier "Pink Sheets," MuniMae is part of the entity's OTCQB tier.

DocMagic, Inc., made waves recently by dropping fees for the eSign Solution, which users can deploy to safeguard their electronic documents. Users will now be able to access the product without incurring any cost.

Shocking the nation and world, Apple, Inc. co-founder Steve Jobs succumbed to a rare case of pancreatic cancer Wednesday. Speaking with MReport, mortgage brokers, company executives, and other professionals praise the late visionary for his transformative role in creating mortgage apps, iPhones, and other technology that made their professional lives easier and business more convenient. One such broker recalls seeing and hearing about Jobs as he worked on his Apple computer prototype three doors down from her.