BB&T Corp. has opted to embrace electronic signatures on disclosures and pre-closing documents.The company has chosen the Secure Lending solution from Fiserv for its e-lending purposes. Using the Fiserv solution will enable Winston-Salem, N.C.-based BB&T, the nation's 11th largest financial holding company, to manage workflow with compliance best practices by tracking and retaining all versions of the Real Estate Settlement Procedures Act three-day disclosures and other pre-closing documents sent to borrowers. The Secure Lending solution electronically streamlines and manages the sharing of upfront loan disclosures with borrowers.
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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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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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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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