Technology

CoreLogic has announced the appointment of Frank D. Martell as its new chief financial officer, effective August 29, 2011. Martell joins CoreLogic with more than 25 years of experience that included public company CFO, COO, and general management positions in the marketing and business information industries. He will oversee global accounting, financial planning and analysis, tax, treasury, real estate, procurement, and administration for CoreLogic.

Varolii Corporation announced a new product to alleviate costs and streamline new processes servicers will have to adopt under the Single Point of Contact regulation requirements for all HAMP modifications. Varolii estimates its product will reduce servicer staffing requirements by 15 percent, while increasing borrower contact by 17 percent. The Varolii SPOC Mortgage Servicing Solution routes calls to the appropriate agents and incorporates borrowers' communication preferences.

DecisionReady Solutions, a California-based provider of default servicing compliance solutions, has announced the appointment of Matthew Lichtner to the position of executive vice president, director of national sales and client relations. Lichtner has over two decades of sales experience in the mortgage industry working for companies such as First American Corporation and Stewart Title Company.

The Five Star Institute has announced a partnership with Fannie Mae to educate real estate agents on Fannie Mae's Short Sale Assistance Desk (SSAD). Fannie Mae's SSAD helps expedite the process by allowing real estate agents to reach out to the GSE directly for short sale approval of first-lien, Fannie Mae-backed loans. Agents can access the appropriate forms through multiple listing services. With 107,953 short sales in 2010, such transactions continue in significant numbers this year - 35,406 as of April, according to a federal report.

Axis Appraisal Management Solutions announced Monday that it has appointed Ron Simmons, SRA, as its chief appraiser and director of valuation services. Simmons brings to Axis a range of experience in the appraisal and technology business fields. He operated an appraisal practice for well over a decade and is a certified residential appraiser in the Northern California area.

CoreLogic has entered into a definitive agreement to sell its India-based operations, CoreLogic Global Services Private Ltd., to Cognizant. Cognizant is an information technology, consulting, and outsourcing firm headquartered in New Jersey with a large presence in India already. The deal will net CoreLogic approximately $50 million in cash, plus adjustments for working capital. The transaction is expected to close next month.

The nation's leading mortgage lenders are extending extras for short sale transactions employed as an alternative to foreclosure - both in the form of monetary incentives for borrowers and streamlined procedures for real estate agents. Wells Fargo has increased its financial relocation assistance to as much as $20,000 in states where the foreclosure process is lengthening. Bank of America is now allowing agents to submit a new backup offer for a short sale property if the original buyer has walked away.

Mortgage Electronic Registration Systems, Inc. (MERS) is withdrawing from the foreclosure business. MERS has issued a notice to its members stating that no foreclosure proceeding may be initiated and no legal proceedings in a bankruptcy may be filed in the name of MERS. Amid an onslaught of court filings and foreclosure-related investigations, MERS proposed a rule change in March banning its members from using MERS as the foreclosing agent. The policy change has officially been adopted.

The Homeownership Preservation Foundation (HPF), an independent nonprofit dedicated to helping distressed homeowners avoid foreclosure, unveiled its new, redesigned website Wednesday. HPF operates the nationwide Homeowner's HOPE Hotline. Its new site now mirrors the assistance already available via phone, including step-by-step details on the foreclosure process, an overview of alternative lender solutions, and details on government mortgage relief programs.

BlackBox Logic, LLC recently entered into agreements with several prominent academic institutions and faculty members to provide researchers with data on U.S. and international residential real estate and capital markets. In addition, BlackBox recently expanded to offer data covering residential mortgage backed securities (RMBS) in the United Kingdom, with plans to expand that service to other European countries.