Mortgage software developer Ellie Mae is now releasing the details of its counterclaim against DocMagic. The suit revolves around the relationship between DocMagic’s online document service and three Ellie Mae products, Ellie Mae Docs, ePass and Encompass.

Mortgage software developer Ellie Mae is now releasing the details of its counterclaim against DocMagic. Ellie Mae is alleging that DocMagic, the document service provider, attempted to violate the origination technology provider's intellectual property rights by reverse engineering technology in order to wrongfully gain access to Ellie Mae's software servers and network resources.

San Diego-based software developer xplair Technology launched a Web-based residential mortgage portfolio management platform to provide asset data and analytics to financial institutions. The software provides direct feeds to loan and real estate owned (REO) asset data, along with comparative analytics, risk metrics and interactive charting. The software uses a customizable “dashboard” that provides real time portfolio information on a broad or granular level.

Wilmington, Del.-based software developer Corporation Service Company launched its Bankruptcy Tracker program, which monitors court filings and notifies companies via e-mail when a debtor files for bankruptcy. Corporation Service noted consumer bankruptcies recently reached the highest mark since the fall of 2005. In July alone, consumers filed 126,434 bankruptcies, representing a 34% increase over July of 2007 and an 8% increase over June’s filings. Corporation Service sends lenders e-mail alerts on bankruptcies filed against their debtors.

Clearwater, Fla.-based mortgage software developer eMASON announced Fannie Mae [stock FNM][/stock] certified its Clarifire software for loan modifications. Clarifire’s financial calculator and loss mitigation rules engine were already Fannie Mae-certified for the HomeSaver Advance program and pre-foreclosure sales, and the company said it hopes to have it approved for Making Home Affordable Modification Program (HAMP) later this August.

Oxford, Miss.-based mortgage software developer FNC added debit and credit processing services to its Collateral Management System software under a three-year contract with US Bancorp’s [stock USB][/stock] credit card processor unit Elavon.

Ponte Vedra Beach, Fla.-based Capital Markets Cooperative and San Diego-based software developer Del Mar DataTrac entered into a partnership to market their respective services to their clients. The cooperative provides third-party secondary market services to lenders. The DataTrac suite is an automated software program for mortgage lenders, banks, and credit unions.

Mortgage and real estate software developer Lender Processing Services [stock LPS][/stock] earned $75.2m ($0.78 per share) in Q209. The results mark an increase of more than 35% from Q208's earnings as demand for LPS' default services continues to grow. The continued influx of delinquencies and foreclosure proceedings among mortgage servicers that rely on LPS' software platforms helped push the company’s default services revenue up 51.9% to $299.5m.

Dallas-based software developer MRG Document Technologies announced it upgraded its Web-based eConsent electronic disclosure delivery system to comply with the upcoming expansion of the federally mandated truth-in-lending disclosures. The new regulations, which take effect July 30, require additional disclosures for refinanced mortgages and loans on dwellings other than a borrower’s primary residence. According to MRG, its upgraded eConsent system can speed the delivery of these mandatory disclosures to three days.

Bensalem, Pa.-based software developer ISGN is beta testing a new Web-based loss mitigation technology that only charges servicers when they close a loan. The yet-to-be-named “pay-per-loan” software is in beta testing and will go live in September. It will allow servicers to evaluate pools of loans, create customized evaluations based on user-generated objectives along with other steps in the modification process, but will only charge servicers when they complete a loan. The software will be compatible with the Home Affordable Modification Program.