The electronic partnership platform technology under development by BCE Emergis for use on Freddie Mac's loanprospector.com website will use technology developed by General American Corp., Pittsburgh.After a two-year collaboration with Freddie Mac, GAC announced that Freddie will use a customized version of GAC’s Gators Web-enabled software package as a foundation for the mortgage services it provides through its portal. The platform offers mortgage processing and closing tools that use the Internet to provide cheaper, more efficient access to third-party services needed to process, close, and fund mortgage loans, GAC said. BCE Emergis, an e-commerce services company based in Quebec, Canada, acquired the online technology tools from Freddie Mac and will manage their development, implementation and operation. GAC can be found on the Web at http://www.gatorsystems.com.
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The partnership was designed to support the growth of Redwood's Sequoia platform and give Castlelake purchasing power for fully documented loans.
April 30 -
Home affordability declined on a monthly basis across loan types and racial demographics, but improved from a year ago, the Mortgage Bankers Association said.
April 30 -
A federal judge harshly criticized the settlement of a civil suit between the Department of Justice and a Texas land developer.
April 30 -
The latest study from LodeStar found the ratio of average closing cost to home sales price in several states, led by Delaware, well above the national average.
April 30 -
The benchmark 10-year Treasury yield topped 4.4% on April 29 — its highest level since late March — as investor anxiety mounted.
April 30 -
The technology firm posted annual gains in servicing, origination and closing solutions, although the segment at large posted an operating loss.
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