Oklahoma City-based a la mode has announced that it will offer electronic signature capability to all its real estate agent, broker, inspector, loan officer, and appraiser customers through the company's XSites Network.Specifically, a la mode signed an agreement to use Wave's eSign Transaction Management Suite, which allows users of XSites (formerly called the Mercury Network) to manage business processes and transactions online and create, sign, store, access, and manage the lifecycle of electronic records within a loan folder. The announcement was made at the Mortgage Bankers Association's Annual Convention in San Francisco. The company can be found on the Web at http://www.alamode.com.
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
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Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
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The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
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Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
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The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
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