ComplianceEase, a San Francisco-based provider of regulatory compliance and risk management systems, has signed a strategic partnership agreement with GMAC Residential Funding, Minneapolis.The partnership will establish an automated compliance application available in the marketplace by combining ComplianceEase's ComplianceAnalyzer with GMAC Residential's Assetwise Compliance Engine. GMAC Residential's lender partners will now be able to run audits on both applications simultaneously, addressing all federal, state, and municipal laws and regulations, as well as GMAC Residential's specific guidelines, the companies said. As part of the new alliance, GMAC Residential will integrate its technology platform with ComplianceAnalyzer, ComplianceEase's proprietary intelligent decisioning system. Both companies will jointly market the solution to GMAC Residential's approved sellers, as well as prospective customers. The companies can be found online at http://www.complianceease.com and http://www.gmacrfc.com.
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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
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The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
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Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
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Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
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In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
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