Entries by Tony Garritano

Market Analysis: Ellie Mae Isn’t Wasting Any Time

*Ellie Mae Is Wasting No Time*
**By Tony Garritano**

***Usually when a technology vendor acquires another vendor you see a slow transition whereby eventually one product becomes more robust and the other is grandfathered. However, Ellie Mase is getting to work fast on making the most out of its acquisition of DataTrac. PROGRESS has learned Ellie Mae’s second major release of its Encompass360 mortgage management solution is now live. This release contains new functionality and enhancements designed to further increase compliance, efficiency and ease of use. It also introduces Encompass Originator, an integrated front-end technology solution specifically for users of DataTrac mortgage software. Here’s the scoop:

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Market Analysis: The Impact Of HARP 2.0

*The Impact Of HARP 2.0*
**By Tony Garritano**

***I’ve been talking to a lot of people about HARP 2.0. Will it help? Will it hurt? Will it have any impact at all? The jury is out depending on who you talk to. Regardless, Urban Lending Solutions, a provider of residential and commercial outsource fulfillment and settlement services to the mortgage origination and servicing industry, has shifted internal resources to provide more support to lenders and servicers that will capitalize on the new streamlined Home Affordable Refinance Program (HARP).

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Market Analysis: Tracking Acquisitions

*Tracking Acquisitions*
**By Tony Garritano**

***In recent weeks we’ve heard about a few acquisitions. My guess is that we’ll hear about more going forward. The market is tough and the weak are getting acquired by the stronger companies that are better positioned to become the next industry leaders. For example, PROGRESS in Lending has learned that TD Service Financial Corp., a provider of services to the mortgage industry, has acquired Security Connections, Inc. Here’s the scoop:

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Market Analysis: A New LOS Debuts

*A New LOS Debuts*
**By Tony Garritano**

***A New LOS has hit the market. Automated underwriting and loan pricing technology provider PriceMyLoan has launched LendingQB, a 100% web browser-based mortgage lending platform. “With LendingQB, we believe we are doing more than just providing a ‘cloud computing’ loan origination system,” said Binh Dang, LendingQB’s managing partner. “We believe we are fundamentally changing the way that lenders use technology.” Here’s the scoop:

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Market Analysis: We All Need A Good Laugh Once In A While

*We All Need A Laugh Once In A While*
**By Tony Garritano**

***Let’s face it, things aren’t great going into the holidays. But that doesn’t mean that your spirits should be low. Here’s something to cheer you up: Mortgage Cadence, LLC has produced a series of short films under the guise of “The Lender Blender” to the public. This series of shorts irreverently illustrates the dangers that come with mismanaged processes in the midst of an industry overhaul.

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Market Analysis: Don’t Sit Back, Act

*Don’t Sit Back, Act*
**By Tony Garritano**

***Okay, the column today might not be for everyone, but I am so upset right now. Everyone who knows me knows how passionate I am about mortgage automation. Everyone who knows me also knows that I love the singing competition shows. Last night both of my passions came together and really made me think. Here’s what I concluded:

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Market Analysis: Are You Confused?

*Are You Confused?*
**By Tony Garritano**

***I have been pleasantly surprised at to how well the industry has responded to the new appraisal rules. I remember the issues with RESPA. And loan officer compensation was tough for most to comply with when it hit earlier this year, too. I think the ease of compliance this time is due in part to how vendors have responded with quality educational pieces. For example, Global DMS did a great white paper. If you’re still confused, here’s how they describe all the changes:

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Market Analysis: We Live in A Data-Centric World

*We Live In A Data-Centric World*
**By Tony Garritano**

***With all of the emphasis on loan quality and transparency, the GSEs are now mandating a more data-centric approach. This trend is just going to continue. Investors need complete visibility into each and every loan, and data makes that possible. To this end, vendors are stepping up to make it easier for lenders to embrace the data. For example, ClosingCorp, an independent, real estate closing cost data and technology company that develops online data services for mortgage lenders, real estate professionals and consumers, has launched DART, a data service that provides recording fee and transfer tax amounts for title and settlement professionals to use for closing transactions. Here’s the scoop:

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Market Analysis: Here’s Why We Need To Automate

*Here’s Why We Need To Automate*
**By Tony Garritano**

***I always preach about the benefits of automation. But I preach a lot. My kids say I’m a broken record when I talk to them about the value of doing well in school, for example. However, when it comes to automation, and the value of a good education, I’m right on both accounts and the data backs me up. PROGRESS in Lending has been told that CoreLogic released its October Home Price Index (HPI) which shows that home prices in the U.S. decreased 1.3 percent on a month-over-month basis, the third consecutive monthly decline. Let’s face it: with home prices continuing to decline lenders need to automate to be as efficient as possible and also to offer first-class service. Here’s what else the HPI found:

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Market Analysis: Lean On Your Vendor

*Lean On Your Vendor*
**By Tony Garritano**

***Having trouble keeping up with new government programs and regulations? As I always say, that’s what technology is for. Vendors should do the heavy lifting for you. For example, PROGRESS in lending has learned that ISGN Corp. can assist lenders and servicers with their loan infrastructure needs in meeting the expected higher demand of distressed borrowers for the new streamlined federal Home Affordable Refinance Program (HARP). ISGN has been processing, underwriting and closing HARP loans for lenders and servicers in the original program for the past two years.

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.