LendingTree Settles Lawsuit
LendingTree LLC has settled a four-year-old lawsuit in which it was accused of the unauthorized use of technology from another company for its online exchange between borrower and lenders.
IMX Inc. announced today it reached a settlement with the Charlotte, N.C.-based lead generation company.
The lawsuit was originally filed in November 2003 in U.S. District Court for the District of Delaware.
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Pricing, Credit and MISMO
An enhancement to one pricing engine exponentially improves the offering, the developer claims. In other technology news, a recent improvement to credit scoring brings authorized users back, while mortgage technology standards have taken a giant step forward.
Pricing Engines Gain Prominence
As nonconforming wholesale lending programs diminish, technology that scours the few remaining programs is flourishing. Other recent mortgage technology activity includes advancements in origination systems and compliance services.
Mortgage Technology Boom
Some recent mortgage technology offerings promise to improve business and cut costs, while other digital advancements aim to improve wholesale lending operations.
Digitally Improving Mortgage Banking
A new mortgage technology offering will help mortgage brokers and lenders avoid steep penalties for noncompliance with a new rule to be implemented later this year. Other innovations include a loan pricing solution that has incorporated mortgage insurance searches, digital document enhancements and improved servicing technology.
Digital Enhancements Improve Originations
Recent technological advancements are helping lenders prevent mortgage fraud and enhancing the ability of originators and applicants to identify the most appropriate wholesale programs. Other innovations include improved ease of compliance with new conforming appraisal standards, FHA credit reports and correspondent loan disclosures.
How to Improve Operations With Technology
The latest technological innovations in real estate finance will help improve loan program searches, decrease mortgage fraud and increase credit scores.
Credit, Pricing and Underwriting Technology
A new offering for loan officers helps them show prospective borrowers how to manage their credit scores while building a relationship. Other recent technology solutions focus on pricing and automated underwriting, among other things.
Digital Mortgage Universe Expands
A reverse loan origination system has been launched, while an LOS for standard mortgages has integrated hazard insurance functionality. Other mortgage technology advancements include the addition of an Alt-A wholesale lender to a loan search engine, the implementation of automated underwriting for commercial mortgages and a legal truce between two credit reporting companies that has led to a credit scoring collaboration.
Tech Strategies and Mobile Innovations
Former executives of a failed top-15 lender are hoping a different technological strategy will increase the chances of success at a new wholesale lender they've launched. Other digital innovations include the integration of mortgage fraud prevention technology with automated underwriting systems and an expansion of banking services on wireless devices.
