Costa Mesa, Calif.-based ibank has created a commercial lending search engine that allows small businesses to find lenders and brokers based on four search criteria.The criteria act as a filter, which allows lenders to target their marketing dollars only to those small businesses seeking their products, iBank said. The new engine allows small businesses to search up to 85 different types of small-business loan, equipment leasing, and commercial and home mortgage loan. Lenders can reach these small businesses in three ways: the Organic Lender List, which is composed of information taken online from lender websites by the iBank website's Web crawler; the Classified Campaign Lender, composed of lenders who pay for placement in the classified section of the search engine; and the Premier Campaign Lender, which consists of lenders who have taken a more active approach by registering with iBank's website and creating targeted campaigns that deliver hot prospects directly to their computers each day. The company can be found online at http://www.ibank.com.
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The lender, in addressing claims first raised by the Consumer Financial Protection Bureau, said its activities are protected by safe harbor provisions.
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VantageScore 4.0 has been incorporated into the existing processes at Rocket for both the retail and mortgage broker-facing origination businesses.
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With the 10-year Treasury yield at levels not seen in 52 weeks, the 30-year fixed rate mortgage rose 15 basis points over last Thursday, Freddie Mac said.
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Artificial intelligence's ability to uncover and analyze granular data across large volumes of files may result in AI agents executing trades themselves, mortgage leaders said.
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