Fiserv Lending Solutions has announced that Albuquerque, N.M.-based Charter Mortgage has selected Fiserv's UniFi PRO Mortgage eX loan origination software system to extend its relationship with Fiserv and embrace the electronic mortgage.Lyle Greenberg, Charter's vice president of mortgage operations, said the company found itself needing to take better advantage of modern technology, especially in the areas of databases, the Internet, and integration with other systems and services. Charter Mortgage is New Mexico's largest mortgage company and is the only company originating and servicing residential and commercial mortgages in the state.
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Fathom Holdings acquired START Real Estate to expand its first-time homebuyer program, the company announced Thursday.
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Noninterest income at the Minneapolis-based company jumped more than 10% during the third quarter, while asset quality improved and expenses held steady. "Our focus is very much on organic growth," said CEO Gunjan Kedia.
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Observers believe the government shutdown and lack of data is keeping mortgage rates in the same narrow range, as investors have issues reading the tea leaves.
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The Detroit-based mortgage bank's announcement trailed competitors' by over two weeks, but is taking a more aggressive risk-reward stance on the limit.
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Despite the decrease, average profit margins approached 50%, as the lock-in effect continues to stymie inventory growth and keep home values elevated.
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The head of the government-sponsored enterprises' oversight agency also asked existing investors to review risk factors as officials eye a new public offering.
October 15