MortgageHub, a Norcross, Ga.-based provider of technology for the mortgage industry, has released TCL Lite, a version of its TCL (The Construction Lender) construction lending software that is tailored for smaller lenders.TCL Lite uses the same basic functions as the original system, but streamlines it to provide only those functions that smaller lenders require, and allows users to upgrade to the full TCL system with minimal effort, MortgageHub said. "TCL Lite is extremely easy to implement and use but still provides all the controls required for budgeting, cash management, and management information," said Dave Demster, president of MortgageHub's Mortgage Products Division. "Smaller lenders get a cost-effective, yet powerful solution that fits their needs today, while also providing the expandability to accommodate their growth in the future." The company can be found online at http://www.mortgagehub.com.
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Zombie properties rose quarter over quarter in 38 states and the District of Columbia, according to Attom's latest Vacant Property and Foreclosure Report.
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The House passed housing legislation that includes a slightly pared-down institutional investor housing ban, as well as a raft of community bank measures.
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Delinquencies among recent FHA originations are showing up alongside a notable volume of subordinate liens carried by the borrowers.
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The share of sellers dropping their asking price fell in April as buyer demand picked up, though Sun Belt markets — especially in Texas — still saw widespread price cuts.
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The real estate investment trust, while reporting a first quarter net loss, benefitted from growth and stable margins in its three mortgage production units.
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The co-author of the landmark Dodd-Frank Act and progressive congressional trailblazer Rep. Barney Frank, D-Mass., has died.
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