Lender Support Systems Inc., Poway, Calif., has announced the availability of Docs3D, which it termed the company's next-generation loan document creation software.The Web-based application helps streamline the mortgage closing process through a simplified tool that performs accurate annual percentage rate, payment, impound analysis, and high-cost calculations, LSSI said. "We developed Docs3D to provide lenders with a fully compliant, fast, and accurate document preparation solution that seamlessly interfaces with virtually all existing [loan origination systems]," said Cary Burch, president and chief executive officer of LSSI. The software uses standards for all required formats and offers required disclosures for all 50 states, the company said. The announcement was made at the Mortgage Bankers Association annual convention in Chicago. LSSI can be found online at http://www.lendersupport.com.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
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Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
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While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
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The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
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Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
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The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11