PMI Mortgage Insurance Co., Walnut Creek, Calif., has updated its Secondary Market Products Servicing System, rolled out pmiPaperless, and reworked its field sales, operations, and product development divisions.The company said the SMP enhancements include changes in the way the company will create and manage products, contracts, and relationships; bill and manage receivables; validate and board new loan instruments; and report on corporate results. Its new offering, pmiPaperless, is an electronic document managing system designed to enhance the efficiency of PMI's underwriting capability. Finally, the company said the restructuring of its field sales, operations, and product development divisions is expected to result in a $5 million to $6 million pretax expense savings next year. PMI Mortgage is a wholly owned subsidiary of The PMI Group Inc., which can be found on the Web at http://www.pmigroup.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 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
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.
April 25 -
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.
April 25