Technology

First American left millions of real estate records exposed

Data included bank account details, mortgage information, tax records and phone numbers
First American shut down external access to an application on Friday after cybersecurity expert Brian Krebs alerted the title insurer that millions of records were exposed online. "The digitized records – including bank account numbers and statements, mortgage and tax records, Social Security numbers, wire transaction receipts, and drivers license images – were available without authentication to anyone with a Web browser," Krebs wrote.
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Blue Ridge Bank launches reverse mortgage division

Announces partnership with ReverseVision
North Carolina-based Blue Ridge Bank announced this week that it has partnered with HECM technology provider ReverseVision to launch a reverse mortgage division. The bank, which said it has closed $25 billion in forward loans, is implementing ReverseVision’s RV Exchange loan origination system to support its launch.
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Ellie Mae announces layoffs of 10% of its staff

Completes restructuring after acquisition
Ellie Mae recently completed restructuring its team after its acquisition by Thoma Bravo, a move that includes the layoff of about 10% of its staff. The company explained those let go are being offered severance packages to help with the transition.
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ReverseVision launches interactive comparison tool for reverse mortgages

Allows users to assess the HECM versus HELOC and other loans
ReverseVision has long been on a mission to elevate reverse mortgage technology to encourage more borrowers and traditional loan officers to consider the product. Now, the three-time HW Tech100 winner is upping its game with the launch of a new loan comparison product that enables users to weigh a HECM against a HELOC or a first- or second-lien mortgage – a tool it hopes will help LOs and consumers better understand reverse mortgages.
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Roostify adding eSignature technology to mortgage platform with help from Docutech

Roostify users will be able to view, complete, and eSign documents
In a partnership that brings together two HousingWire 2019 HW Tech100 honorees, Roostify is partnering with Docutech to bring eSignature technology to Roostify’s digital mortgage platform. And that’s a big deal considering the companies that use Roostify to power their digital mortgage experience, including JPMorgan Chase, LendingTree, Guild Mortgage, and TD Bank, to name a few.
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LendingPad partners with My Mortgage Trainer for low-cost training

LendingPad clients can receive a discount on NMLS-approved training
LendingPad, a 2019 HW Tech100 winner, is partnering with My Mortgage Trainer to provide LendingPad LOS clients a discounted rate on mortgage license education training. 
The company announced that lenders using its LOS platform will be able to access the NMLS-approved education needed to obtain or renew a mortgage license.
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Figure Technologies lands $1 billion blockchain investment to revolutionize HELOC lending

Partnership with Jefferies and WSFS Institutional Services creates massive financing facility
Blockchain lending startup Figure Technologies launched with a promise to disrupt home equity lending using cutting-edge technology, and it appears to be well on its way to achieving this mission. The company announced Thursday that it closed on an asset-based financing facility on blockchain of up to $1 billion alongside Jefferies and WSFS Institutional Services. CEO Mike Cagney said the facility "paves the way for the first securitization on chain, which will demonstrate the massive cost savings, risk reduction and liquidity benefits blockchain delivers."
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Housing News Podcast: If your lending tech isn't what Millennials want, can you survive long-term?

Listen to the latest episode
The Housing News Podcast is a weekly wrap of the top news stories by Editor-in-Chief Jacob Gaffney. This week, Gaffney talks with John Pataky, TIAA Bank’s EVP and chief consumer and commercial banking executive. With GDP coming in strong, is the chance of recession finally remote, or is the sky falling? Plus, if your tech isn't what Millennials want, can you survive long term? Listen to find out.
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