LSI, a division of Fidelity National Financial Inc. based in the Pittsburgh suburb of Coraopolis, has announced the launch of DecisionStream, a Web-based system that LSI said instantly delivers loan prequalification information at the point of sale.The system is designed to help lenders decide whether to proceed with a refinance or home equity loan application before investing in full-scale mortgage settlement services, LSI said. The company said DecisionStream delivers previously unavailable POS information that provides insight into the loan qualification process, including: title approval and guaranteed fee data; real-time delivery of FICO score and factor codes; a flood insurance requirement indicator; an automated valuation model that provides a benchmark for estimating loan-to-value ratios; and instant property tax status information. LSI, which stands for Lender's Service Inc., can be found online at http://www.lsi.fnf.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
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