TVC Capital, a San Diego-based private equity fund focused on software acquisitions and investments, has acquired Del Mar DataTrac from Fiserv just two years after Fiserv originally acquired the product. Interestingly, Jeb Spencer, managing partner at TVC, served as Del Mar's executive chairman from 2003 to 2005, during which time the company's customer base more than tripled. Veteran company employee Rob Katz has rejoined Del Mar and will help lead the ownership transition. Details of the transaction were not disclosed. Fiserv will now focus more on its core business, which prompted the sale. "This divestiture further demonstrates Fiserv's focus on its core financial and insurance businesses and its Fiserv 2.0 goals of helping clients to achieve best-in-class status," said Tom Warsop, president of Fiserv's Financial Institutions Group. With over 15 years of industry presence, Del Mar DataTrac has been a provider of back-office lending solutions. Del Mar serves over 300 mortgage banking firms throughout the United States.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
April 18