Docu Prep Inc. and Xerox Mortgage Services have integrated their joint services to enable lenders to incrementally implement full electronic processes. Docu Prep's EESS (short for Entire Electronic Signature Solution) provides e-disclosure, e-signature, e-modifications, e-closing, and e-vault services. This technology combines with the BlitzDocs collaborative network allowing lenders to enter the electronic world where they want to and gradually expand out to doing full e-closings. The service can be used for something as simple as allowing the borrower to e-sign a disclosure or it can allow the lender to open the electronic signing room as 'view only' to closing agents or attorneys, and makes a seamless transfer to the e-vaulting services, including MERS.
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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
July 24 -
NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
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Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
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The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
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Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
July 24 -
The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
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