Your Thoughts?

Let your voice be heard! Respond to the "Your Thoughts?" question and explain your answer and we'll possibly use your comments in the next installment of this newsletter. So, stay tuned for that next issue to see how the industry responds and how you measure up to the consensus.

Tech Debate

Now that AmTrust has been acquired will it's electronic mortgage strategy chane in 2010? Join the conversation.

Recent Technology Headlines

• Whole Loan Trader Officially Names Ex-Fannie CFO as Advisor
• Vendors Align to Enhance Business Intelligence Automation
• MISMO Gets New Chair and Vice Chair

Conference Calendar

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Market Data

We welcome your comments or questions! Please e-mail them to our editor at Anthony.Garritano@SourceMedia.com

Trend Watch

Technology Can’t Cure Everything

By Anthony Garritano, Editor, Mortgage Technology Magazine

Technology these days can do a lot of amazing things. Look at the money people are sending to help Haiti by texting. But let’s face it, technology can’t do everything. One thing in particular that technology can’t do is predict what new or revised legislation Congress is going to impose on the mortgage space.

In total, 88% of respondents don’t think technology can ensure compliance. On the flip side though, without technology helping lenders along, compliance isn’t even possible. Most lenders that are compliant with the new RESPA Rules now, for example, owe that compliance to technology.

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Industry Outlook

2010 – The Year of the E-Disclosure

Perspectives By Randy Schmidt, President, Data-Vision Inc.

As we enter into 2010, many people are wondering: Will this be the elusive year of the e-mortgage? While it’s still too early to tell whether this is the year that lenders will finally embrace e-mortgages, it does appear that 2010 will at least be the year of the e-disclosure. After several years of slowly gaining industry acceptance, e-disclosures have finally hit the hockey-stick adoption curve. Now more than ever, lenders are recognizing the benefits of implementing e-disclosures.

As with most market trends there needs to be a catalyst for widespread adoption. For the mortgage industry, this came in the form of regulatory reform. On July 30th 2009, modifications to the Truth-in-Lending Act (TILA) made by the Mortgage Disclosure Improvement Act of 2008 (MDIA) went into effect. The most notable of these modifications had to do with the timing of when disclosure forms are provided to the consumer along with when fees could be charged.

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Video Newscast

Click the screenshot image to watch Tony Garritano discuss The Growing Fraud Epidemic Fraud Detection Strategies Risk Mitigation Practices The Role of Data in Risk Mit The Work Number's M&A Moves

Alliances and Interfaces

Pair Bring Sophisticated Business Intelligence To Market

By Amilda Dymi, Contributing Editor, Electronic Mortgage Technology Newsletter

It has taken a mortgage foreclosure crisis and an economic recession to shake things up for an industry that was getting too comfortable with doing things the good old fashion way. Now cooperation and sophistication that allows for deeper data analytics appears to be in the forefront.

For example, AllRegs of Eagan, Minn., whose information services are used by most of the country’s top 100 lenders entered into a strategic partnership with Denver-based Motivity Solutions Inc., “to bring sophisticated business intelligence tools to the mortgage marketplace,” the companies tout.

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