ANTs Software Inc., Burlingame, Calif., has announced the launch of the SFG Bancorp system, which offers to reduce a one- to three-day loan application process to a single 22-minute phone call.SFG, a real estate brokerage and direct mortgage lender based in Pleasanton, Calif., has adopted the ANTs data server to create an integrated mortgage lending system the company touts as slashing the total cost of ownership by 90% compared with that of competing systems. The ANTs Data Server 3.4 serves as the central repository for all customer data. ANTs partnered with sfaFinity Inc., San Jose, Calif., to integrate its customer relationship management capabilities with the ANTs Data Server. SFG Bancorp's resulting SWEEP system is projected to support 1,200 simultaneous users (local or remote via the Internet) and 90 million database records by the end of 2006. The companies can be found online at http://www.ants.com, http://www.sfgbancorp.com/content.aspx, and http://www.sfafinity.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18