EverBank, Jacksonville, Fla., has announced an agreement to acquire the mortgage servicing portfolio of NetBank, as well as its direct banking and small business financing divisions.The terms of the agreement were not disclosed. The acquisition will increase EverBank's assets to approximately $7 billion and its customer base to over 550,000, the privately held company said. EverBank recently expanded its reverse-mortgage operations by purchasing BNY Mortgage Co. "The NetBank acquisition is another important milestone in our strategic transformation into a high-performing, fully integrated financial services company," said Blake Wilson, EverBank president and chief financial officer.
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The deal has Carrington employing the fintech's AI agents at servicing contact centers to work either autonomously or as assistants to human personnel.
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Three more states passed title fraud legislation this past quarter, but over two dozen states are either still mulling reforms or have no relevant statutes.
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Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.
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The shift, which is in line with a similar one by other regulators, could be significant for mortgage businesses that work with Fannie Mae and Freddie Mac.
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Jumbo lending helped offset a decline in June's credit numbers, as government-backed programs noticeably contracted, the Mortgage Bankers Association said.
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Colorado homeowners pay the highest premiums at $463 a month, as insurance costs now exceed property taxes in 15 states, LendingTree found.
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