Cenlar FSB, the nation's third-largest subservicer of mortgage loans, will use Fiserv's technology to support home equity lines of credit.Cenlar, of Ewing, N.J., has selected the MortgageServ loan servicing platform to manage HELOCs, Fiserv said. Last month, Cenlar said the addition of line-of-credit subservicing to its service offering was driven by increased demand for open-end products and growth opportunities for HELOC lending in a rising rate environment. Cenlar senior vice president George Schwartz said MortgageServ supports "the ability to preserve multiple brand identities." Fiserv, headquartered in Brookfield, Wis., can be found on the Web at http://www.fiserv.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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