Mortgage Compliance Wire
The implementation of the new appraisal code has devastated borrowers, destroyed appraisal quality and increased loan expenses, according to two groups. In other mortgage compliance activity, two technology companies improved their compliance offerings.

The Office of the Comptroller of the Currency announced this month the approval of final rules and guidelines which implement section 312 of the Fair and Accurate Credit Transactions Act of 2003 -- or FACT Act.

A group of federal regulators -- including the OCC, the National Credit Union Administration and the Federal Trade Commission -- will soon be publishing final rules and guidelines in the Federal Register.
read full story

The Lead Journal
Mortgage leads companies are using new technology to increase activity, improve efficiency and boost customer retention. A growing number of lead providers have added loan modification leads to their menus.

Banking and Lending Go Wireless
A growing array of financial calculator applications have been developed for the iPhone, while technology for banking applications is being designed for all types of wireless phones. In mortgage lending, originators can access at least one loan pricing engine through their mobile phones.

LOS Offerings Packed With Features
Providers of loan origination systems continue to load additional services on to their software. Many of the ancillary features are compliance-related, though one consolidates marketing, point-of-sale and closing with the LOS platform. Two others incorporate mortgage fraud prevention and loan servicing.

Loan Search Technology Proliferates
Prospective customers are being given one month to try out the loan pricing technology of one provider. Another offering enables originators to provide a loan search function on their own Web sites -- a feature that generates mortgage leads. A California company claims its pricing technology helps loan officers maintain mortgage compliance.

HVCC Deadline Friday
Services that help lenders comply with the Home Valuation Code of Conduct -- which goes into effect Friday -- are available on an outsourced basis or as a software application. Some services focus on cutting expenses, while others preserve existing relationships with appraisers. In other appraisal activity, a hybrid service utilizes technology and local inspections to provide lower cost valuations.

Servicers Seek Systems
One important feature of mortgage servicing technology is the ability to manage multiple loan types for multiple investors. Several technology providers are promising to do just that and more for prospective customers.