Keane Inc., San Ramon, Calif., and ZC Sterling Corp., Atlanta, have launched BestShores, a joint venture that combines technology and global outsourcing to lower costs for mortgage processing from origination through servicing."Keane's proven expertise in offshore business process outsourcing, process optimization, and program management is complemented by ZC Sterling's 30 years of mortgage industry domain knowledge, domestic outsource processing capabilities, and highly leverageable technologies" in the venture, the companies said. BestShores promises it can enhance "the quality of customer service, while lowering processing costs by a third or more."
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
5h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
6h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
9h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
11h ago -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16