Technology

Zillow, Inc., a major real estate information provider, announced it has entered into a definitive agreement to acquire Mortech, Inc., a mortgage technology company. According to a release, Zillow will give $12 million in cash and 150,000 shares of restricted stock in the deal.

Real estate technology provider a la mode, inc. announced that its Mercury Network service will waive all fees related to gathering disaster reports in areas impacted by Hurricane Sandy. According to a company release, in the aftermath of Sandy, orders for disaster inspection reports from lenders increased more than 200 times the normal level.

Cetip, a large private asset clearinghouse based in Brazil, will partner with technology provider FNC. Through the partnership, Oxford-Mississippi-based FNC, Inc. will apply its technology solutions to the Brazilian mortgage industry.

Equifax announced the launch of its Spectrum Verification Services Platform designed to strengthen lender confidence by streamlining the verification processes through underwriting, QA, and closing.

IndiSoft introduced a quality management platform for mortgage loan originators and servicers. RxOffice Compliance works to help originators lower operational and compliance costs while reducing the risk of credit losses.

Equator, a default servicing technology provider, launched a mobile web portal to offer support for on-the-road real estate agents. EQagent Mobile is the industry's first mobile servicing solution that addresses the needs of agents who are out and about.

Lender Processing Services (LPS) released a new REO Web-enabled technology that offers supports for servicers as they manage and dispose REO assets.

PCV Murcor is unveiling its newest valuation tool to mortgage industry professionals this week at the Mortgage Bankers Association's 99th Annual Convention in Chicago. It's called Rental Broker Price Opinion (BPO)--a tiered offering that includes a BPO, automated rent estimate (ARE), and an optional reconciled broker opinion of the ARE.

The mortgage lending division of Carrington Mortgage Services, LLC (Carrington) was inducted into the Ellie Mae Hall of Fame for mortgage technology.

Special servicers are now a must-have in the repertoire of the servicing industry, according to executives at Wingspan Portfolio Advisors. The Dallas-based servicer said it believes its own growth is evidence of the rising need for special servicers.