In the wake of persistent rumors of an alliance, LION Inc., Seattle, has announced the acquisition of "certain assets" of Freddie Mac subsidiary Ignition Mortgage Technology Solutions.LION said it has acquired Ignition's Loan Finder, Lock Point Xtra, Loan Officer Plus, and Pipeline Tools software products, plus Ignition's rights under certain contracts and accounts receivable. The company said the acquisition will enable it "to expand its product offering and its ability to target both small and large mortgage originators" with a turnkey origination and management solution. The bulk of the assets named were developed by Tuttle and Co. and were folded by Freddie Mac into Ignition after the demise of its HomeAdvisors Technologies initiative with Microsoft. Lockpoint Xtra is the electronic rate-lock technology behind Freddie Mac's Goldcash Xtra.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25