eVault technology from DocMagic will be incorporated into ICE Mortgage’s Encompass loan origination system. Also, MISMO expanded its eMortgage tech certification program.
Most of the big banks -- even Bank of America -- reported hefty gains in mortgage banking income during the first quarter that appear largely driven by net servicing fees. (Includes data chart.)
Stavvy has secured $40 million in an initial funding round while Spruce closed on a $60 million Series C round. The vendors provide tech-related services for lenders and servicers.
Interest rates are firming up and servicing sales are proliferating. Some dealmakers believe the second and third quarters will be barn-burners in terms of transactions.