Technology

FHFA is directing both Fannie Mae and Freddie Mac to work together with the agency on developing industry-wide servicing data standards, according to updates from the GSEs. The news standards are a component of the Uniform Mortgage Data Program (UMDP) and will go by the name Uniform Mortgage Servicing Dataset (UMSD).

Despite recent improvements in the unemployment rate and housing, the Federal Open Market Committee (FOMC) Wednesday voted to continue its program of purchasing $40 million a month of mortgage backed securities and to maintain the target Fed Funds rate at 0 to 0.25 percent. The FOMC vote was 11-1 with only Richmond Fed President Jeffery M. Lacker dissenting.

RES.NET introduced an offer submission link tool for real estate agents. Through the new tool, agents who use RES.NET's Agent Portal can post Web links to the MLS and other marketing websites.

StreetLinks Lender Solutions LLC has both a new division and a new product to show off. The Indiana-based valuation services and lending technology firm announced the launch of both its Automated Examination and Valuation Division and its new suite of Quality Examination (QX) products.

The Federal Reserve Bank of New York announced the launch of a new interactive tool designed to provide data on the state of the housing recovery in New York, New Jersey, and Connecticut. The Housing Market Recovery Web page provides a series of interactive visuals to display where home prices have recovered and to what extent.

Cincinnati-based eLynx, a portfolio company of American Capital, announced its compliance with all guidelines recently published by the IRS for obtaining electronic signatures on Form 4506-T, Request for Transcript of Tax Return.

Mortgage tech provider SharperLending LLC announced enhancements to its Appraisal Firewall platform with a new technical integration to appraisal management firm American Reporting Company (ARC).

Woodward Asset Capital (WAC) is aiming to go as paperless as possible through the use of software solutions the company is creating. WAC is adopting a variation of the same technologies used for OfferSubmission and VerifiedShortSale to create software solutions for the real estate industry.

FotoNotes is seeking to transform how mortgage field service providers do business. Through its mobile and cloud-based platform, FotoNotes allows field service companies to capture, manage, and share mobile information.

Since the IRS will soon allow electronic signatures on Form 4506-T, Equifax announced it has enhanced proprietary verifications services in anticipation of the change.