First Advantage Corp., St. Petersburg, Fla., has announced the acquisition of the mortgage credit reporting assets of Credit Data Services, Maitland, Fla., from Experian for an undisclosed amount.First Advantage said the transaction provides added Southeastern market share to its mortgage credit company, First American Credco. CDS was acquired by Experian earlier this year. First Advantage said its acquisition of CDS is connected to Experian's joint venture agreement with The First American Corp., which is the majority owner of First Advantage. The companies can be found on the Web at http://www.fadv.com and http://www.firstam.com.
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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
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NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
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Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
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The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
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Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
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The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
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