LeaderOne Financial has opted to use Mortgage Builder as its new mortgage origination software solution to help it grow to a national footprint. A.W. Pickel III, LeaderOne's founder and CEO, said his company is in negotiations to acquire a bank as the first step towards a multistate expansion program. "We needed an enterprise-scale loan origination system," said Mr. Pickel. "We looked at many systems and found that Mortgage Builder had the solution we needed to help us grow and do so rapidly." LeaderOne's planned expansion includes opening up new loan centers in several parts of the country, so Mr. Pickel wanted a system that could scale rapidly along with his expansion.
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The industry leaders are sparring over refinance business from a Mr. Cooper portfolio, and UWM contends it didn't specifically try to harm its rival.
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The trade group supports FHFA's overhaul but urges longer comment periods, more flexibility and protections to prevent unintended consequences.
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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
July 24 -
NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
July 24 -
Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
July 24 -
The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
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