Technology

In December, during their final meeting of the year, the Federal Open Market Committee decided to raise the federal funds rate. Since then, the mortgage industry has been anticipating the effect this will have on the housing market, but so far, that effect has been little to none.

The TILA-RESPA Integrated Disclosure rule has been shaking up the mortgage industry since October 3, 2015, and in turn, causing lenders everywhere to completely alter their loan origination procedures.

Fannie Mae has unleashed a new tool that will help servicers analyze additional borrower information to determine more quickly whether or not a distressed homeowner qualifies for a Fannie Mae loan modification.

As the mortgage lending industry moves into the future, the next clear step for most lenders is to fully embrace next-gen tech solutions that will allow borrowers to complete their loan originations completely online.

SingleSource Property Solutions, a national provider of valuation, REO, title, and property preservation services, recently announced that the company has merged with iMortgage Services, a Pittsburgh-based firm that performs appraisal management as well as title and settlement services.

According to Chronos Solutions, the acquisition will further expand its suite of products and services that support mortgage lenders and mortgage technology talent.

Technology is becoming one of the single most important aspects and drivers of growth in the housing industry. Originators, servicers, investors, and others in real estate need to ensure that they are implementing different technologies within their businesses.

In order to provide its users with more information about valuation services, Summit Valuations, LLC, recently announced that the company has launched a new website for the new year.

Mortech, a Zillow Group business that offers technology solutions for mortgage bankers and secondary market teams, announced Tuesday that its product and pricing engine (PPE) and secondary marketing solutions are now integrated into Calyx’s Point and PointCentral (Point) loan origination software (LOS).

In an effort to enhance information security, Pro Teck Valuation Services announced Tuesday that the company has hired two new employees. According to a press release from Pro Teck, Luc Levensohn will fill the newly created position of Chief Information Security Officer (CISO), that is expected to better the company's information security programs.