Tag Archives: Company News

In Colorado, Lender Processing Services, Inc. (LPS), has reached a settlement with the state's attorney general. Concluding the investigation into document execution practices by subsidiaries of LPS, the company has agreed to provide payment and reimbursement fees in exchange for a release of potential liability.

Blueberry Systems, LLC, and DocMagic are joining forces to offer a more comprehensive document preparation system.

LoanSifter, Inc., announced it has set new performance benchmarks for speed, accuracy, and uptime for LoanSifter, its flagship product and pricing engine (PPE). According to officials representing the Appleton, Wisconsin-based company, the average search on the PPE fell to 1.29 seconds in 2012, down from 2.22 seconds in 2011. In addition, LoanSifter's real-time loan pricing and product eligibility information has an accuracy level of 99.998 percent between 2011 and 2012.

Equifax launched its Spectrum Verification Services Platform designed to strengthen lender confidence by streamlining the verification processes.

CoreLogic announced the release of Third-Party Originator (TPO) Portal, a new system developed by the San Mateo, California-based CoreLogic Dorado. Using the portal, correspondent clients and wholesale brokers can upload and lock multiple loans in a bulk transmission to an enterprise lending system (ELS) and monitor them for conditions and approvals.

Bradford Technologies announced the release of CompCruncher 2.0, a tool that enables appraisers to evaluate markets using regression analysis.

Ally Bank announced it has launched a "process to explore strategic alternatives for its agency mortgage servicing rights (MSR) portfolio and its business lending operations." The announcement signals another step in Ally's shift away from the housing market. In November 2011, the bank began to reduce its correspondent originations business to focus on a smaller group of strategic clients, and in July 2012, it announced its intent to exit the warehouse lending business by the end of the year.

As the Federal Housing Finance Agency (FHFA) makes declarations of intentions of "establishing a path for shifting mortgage credit risk from the Enterprises (and, thereby, taxpayers) to private investors," one company in its infancy plans to take advantage of this opening for private mortgage insurers.

Ocwen Loan Servicing, LLC and Walter Investment Management Corp. outbid Nationstar Mortgage Holdings and received preliminary approval for the purchase of Residential Capital's mortgage servicing and origination assets. Ocwen's $3 billion was the highest bid for the assets, which went to auction Tuesday.

Global DMS, the leading provider of Web-based compliant valuation management software, introduced to the world its newest project designed to integrate its valuation solution with leading loan origination systems (LOS).