Integra Software Systems, a provider of mortgage origination software based in Brentwood, Tenn., has acquired the assets of Financial Compliance Corp. for an undisclosed amount."We are finding that more lenders, especially banks, want one software partner to handle their overall lending processing needs," said Integra president Jerry Pratt. Tim Bartek, senior vice president of sales-marketing for Integra, said the acquisition "is going to be a tremendous, immediate complement to our Destiny mortgage loan origination system, which is among the most robust in the industry. Now, we can also address lenders' other software needs -- beyond residential mortgages." Integra said it will immediately begin marketing FCC's WinBanker and WinDeposit as standalone products, and plans eventually to integrate key features into the Destiny software. The company also announced that Jim Williams, formerly president of FCC, has joined Integra, bringing over 30 years of experience in software development for banks and other lenders.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18