Hansen Quality, a division of Fidelity National Financial Inc., Jacksonville, Fla., is expanding its due diligence services to include credit and compliance reviews of mortgage loan packages.Clients will be able to outsource the loan file evaluation function to ensure that verifications, reports, and worksheets are accurate before the loans are sold into the secondary market or securitized. Speaking at a news conference at the Mortgage Bankers Association convention in San Francisco, Ernest D. Smith, president of real estate and mortgage information services for Fidelity Information Services, said the various data products the company offers make it impossible for mortgage fraud to take place. This is because it is a data exchange between one large organization, Fidelity, and another, the lender. Brian Herskowitz, president of FNF's mortgage information and services division, added that there are only a couple of players in this area and that the product takes advantage of the company's strength in credit analysis and risk analysis.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28