Lenders Insight, Cary, N.C., has announced an automatic extension of 30 days for members and "in demo" trials as a result of the disruption caused by mortgage banker closings."We have many American Home Mortgage and AB Conduit members," said Jim Enright, co-founder of Lenders Insight, which allows loan officers and call centers to connect with phone prospects "virtually" over the Internet. "We want to support them during the interim period as they resettle by 'stopping the clock' on their membership. We are adding 30 days to annual membership subscriptions and extending 30-day demos to 60 days. Monthly members' subscription will skip a payment." The company can be found online at http://www.lendersinsight.com.
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There's broad support for the effort to reduce costs and processes, but the Appraisal Institute warns about reducing property valuation quality control checks.
June 24 -
Foundation had introduced Version 3 of its credit risk model, using the most recent delinquency data, to improve loan performance predictions.
June 24 -
Fannie Mae's conservator is supporting the government-sponsored enterprise's test within certain boundaries, according to a recent social media post.
June 24 -
The Senate Banking Committee is slated to consider Christopher Phelen to be the chair of the Council of Economic Advisers on Thursday. Phelen has said in past academic papers that fractional reserve banking is "highly problematic."
June 24 -
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The bureau said the move is intended to remove potentially confusing language with an upcoming revision to the Equal Credit Opportunity Act.
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