RealEC Technologies, a Houston-based electronic exchange for mortgage fulfillment transactions, has announced that its business recovery preparations are expected to ensure minimal, if any, interruption in service if Hurricane Rita makes landfall near its main data center in Houston.RealEC said it has fully engaged its established business continuation plan, including the deployment of several teams to Dallas, Austin, Texas, and Santa Ana, Calif. "These teams have been organized to respond immediately should the data center operations need to be redirected to RealEC's redundant data center in Austin, Texas," the company said. RealEC added, however, that such a redirection is not expected because its Houston facility includes an on-site generator, flood controls, and redundant Internet connections. The company can be found online at http://www.realec.com.
-
Nonbank mortgage firm Pennymac said having an in-house system gave it a leg up on implementation, while a vendor also reported progress in its systems testing.
55m ago -
United Bank and Five Points Bank, both ranked among the top-performing banks by Capital Performance Group, said they have stayed in the mortgage business because they see it as a way to build strong relationships in the communities they serve.
5h ago -
The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
August 12 -
The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
August 12 -
Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
August 12 -
Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
August 12









