PCLender.com has announced that it is integrating the VirtualLoanFolder system of Hasbrouck Heights, N.J.-based PaperClip to offer its customers online document management and electronic delivery capabilities.By the end of the year, PCLender's customers will be able to access all the tools they need to manage their electronic loan documents within PCLender's Web-based loan origination system, the company said. PaperClip's VirtualLoanFolder ASP-based imaging and document management system will be integrated into PCLender, offering users the tools to operate without paper through the PCLender interface. Customers will be able to drag and drop electronic documents into electronic loan folders, input them into the system via scanning, receive them as an electronic fax, or save them into their hosted virtual loan folder. PaperClip can be found on the Web at http://www.paperclip.com.
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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.
April 25 -
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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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.
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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.
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