DocuTech Corp., an Idaho Falls, Idaho-based provider of compliance services and documentation technology, has announced an alliance with Advantage Credit designed to offer an added layer of security for mortgage closing documents.Under the arrangement, Advantage Credit's LoanShield is embedded in ConformX, a Web-based DocuTech system that accelerates the closing process through document management. This enables users to use LoanShield while running their closing documents, DocuTech said. "This alliance can potentially save ConformX customers millions of dollars that could be lost to fraud," said Ron Litt, president of Pensacola, Fla.-based Advantage Credit. "LoanShield pinpoints fraud among borrowers, properties, and even insiders." The companies can be found online at http://www.docutechcorp.com and http://www.advantagecredit.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.
April 25 -
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.
April 25 -
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.
April 25