Dallas-based H-Cube LLC, in conjunction with its Zenta subsidiary, has acquired Global Realty Outsourcing, a Stamford, Conn.-based business process outsourcing company specializing in the real estate and mortgage industries.GRO's services include master and primary mortgage servicing, cash flow modeling, lease abstraction, loan underwriting, real estate accounting, and mortgage due diligence, according to GTCR Golder Rauner LLC, which formed H-Cube last year in partnership with Henry Hortenstine. H-Cube later acquired Zenta, a company based in Wayne, Pa. (with primary operations in Mumbai, India) that provides outsourcing services to the financial services industry. "The combination of Zenta's strong capabilities with GRO's high-end analytical services allows H-Cube to offer a broader suite of services to its customers," said Collin Roche, a principal of GTCR. The companies can be found online at http://wwwh-cubeinc.com, http://www.zentagroup.com, http://www.gro.com, and http://www.gtcr.com.
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Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
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The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
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ICE data reveals home value growth hit a 15-month high, prompting originators to target resilient markets like upstate New York and pivot focus toward single-family inventory.
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The company reported a nearly $600,000 loss as it navigates the loss of Rithm-related business and pushes for a more diversified revenue model.
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Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.
July 23 -
Originators need to keep an eye on the 10-year Treasury yield used in pricing mortgages, which not only broke through 4.6%, climbed above 4.7% on Thursday.
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