McDonald Computer Corp., a Southfield, Mich.-based provider of automated loan servicing technology to the mortgage industry, has added a reverse-mortgage servicing component to its system.The company said the new reverse mortgage capabilities in its flagship product, Servicing/T.I.M.E., can manage all types of home equity conversion mortgages, including FHA-backed loans. "According to the National Reverse Mortgage Lenders Association, the number of reverse mortgages made in the U.S. in 2006 grew 77%," noted Jim McDonald, founder and president of McDonald Computer Corp.
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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.
10h ago -
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.
10h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
11h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25