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Alburquerque Journal/Bloomberg News: Technology firms upgrading the way mortgages are processed

…. “Most lenders are using some level of technology, but not enough to deal with a regulatory tsunami,” said Jonathan Corr, president of Ellie Mae. “What we’ve seen so far is nothing compared to the new rules that are going into effect in 2015.” Lenders will spend about $500 per loan on adopting technology, according to Stratmor Group, a mortgage banking consultant firm.

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