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Fed Gives Dismal Economic Outlook

On Wednesday, the same day President Obama announced the government’s most aggressive effort yet to ignite a housing recovery, the Federal Reserve diminished its economic outlook for 2009 and warned that the U.

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ELK Upgrades Short Sale Technology

Livonia, Michigan-based ELK Software LLC, a short sale and loan modification software and services provider for the industry, has released version 1.5 of its Web-based Short Sale Commander technology. Among the system’s enhancements are upgrades that simplify data entry and allow users to run a completely paperless short sale business.

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Bay State Foreclosure Deeds Jump in January

According to a report released today by Boston-based The Warren Group, foreclosure deeds in Massachusetts climbed during the month of January. Foreclosure petitions were also up from December, but actually declined 39 percent from a year earlier, the research company said.

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ISGN Announces LenStar Enhancements

Bensalem, Pennsylvania-based ISGN Corporation, a global provider of mortgage solutions and technology products, has announced several new enhancements to its LenStar technology, a web-based attorney and referral communication system for the default management market.

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Mortgage Apps Up 45 Percent

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 13, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 45.

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LenderLive Expands Quality Control Services

Denver-based LenderLive Network Inc., a company that provides business process outsourcing and technology to the financial industry, announced the expansion of its quality control services to support increased demand from clients for Federal Housing Administration (FHA) loans.

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Wingspan to Negotiate for Homeowners

Wingspan Portfolio Advisors, LLC, a Dallas-based mortgage servicer specializing in highly delinquent loans, has announced a new division focused on helping defaulted borrowers avoid foreclosure. Called Foreclosure Resolutions, the division leverages Wingspan Portfolio Advisors’ specialized capabilities as problem loan servicers to deal with lenders and their loan servicers on behalf of borrowers and negotiate arrangements that allow people to keep their homes, the company explained.

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Treasury Report: Banks Are Lending

The U.S. Department of the Treasury released its first monthly bank lending survey on Tuesday, showing that despite the negative effects of the economic downturn and unprecedented financial crisis, the top 20 banks receiving government funding have continued to originate, refinance, and renew loans.

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Companies Partner to Quantify Mortgage Assets' Credit and Collection Risk

Kroll Factual Data and MIAC Analytics have announced an alliance to provide whole loan collateral risk assessment to mortgage investors and risk managers. Colorado-based Kroll Factual Data is a provider of business information solutions to mortgage lenders, consumer lenders, property management firms, and other financial organizations.

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