Houston-based Credit Union Acceptance Corp. has implemented APPRO Systems Inc.'s automated decisioning system, LoanCenter Consumer.The application and decisioning process was completely manual before using this application, CUAC said. Dealers were required to fax in applications, which were manually entered and decisioned. CUAC said it worked with seven credit unions in the Houston area before implementation of the new system and funded approximately 50 loans per month. Now it works with 60 credit unions in eight states and funds more than 3,500 loans per month, the company reported. Approximately 88% of applications submitted to CUAC in 2004 were input via the new application. CUAC can be found on the Web at http://www.cuac.net, and APPRO can be found at http://www.approsystems.com.
-
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
6h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
10h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24