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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The company cited efforts to improve profitability behind its decision, with Popular joining a line of other banks in ending mortgage operations in 2025.
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The mortgage unit of Hilltop Holdings lost $7.2 million pretax in the third quarter with lower volume, following making a small profit three months prior.
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FHA loans accounted for about half of the annual rise in foreclosure starts and 80% of the rise in active foreclosures in September, according to ICE.
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The Federal Reserve Friday issued a set of proposed changes to its stress testing program for the largest banks that would disclose the central bank's back-end stress testing models, a move that the Fed had long opposed out of fear of making the tests easier for banks to pass.
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Robert Hartheimer's arrest comes at a time when the bank is trying to recover from a consent order and the Synapse mess.
October 24 -
Companies reported positive numbers but see challenges in a sluggish housing environment, as federal pressure ramps up to address affordability.
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