Sterling Testing Systems Inc., an employment screening services company based in New York, has announced the acquisition of the primary assets and customers of Automated Information Services Inc., a reseller of mortgage credit reports, and the formation of a new subsidiary to market mortgage credit reporting products.The terms of the deal were not disclosed. The new subsidiary, Sterling Credit Screening Inc., will market credit reports to mortgage lenders, mortgage brokers, banks, and credit unions, Sterling said. AIS's customer service and operations staff will join Sterling Credit Screening in New York. The companies can be found on the Web at http://www.sterlingtesting.com and http://www.automatedinfo.com.
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Active listings grew 7.9% year over year in February, but just 0.2% month over month, reaching more than 914,000 homes on the market, according to Realtor.com.
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President Trump's criticism of large institutional investors prompted inclusion of a sales timeline for build-to-rent properties in the ROAD Act, which in turn pushed NAHB to withdraw its support.
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The Mortgage Industry Standards Maintenance Organization is nearing completion on the first of a three-phase Veterans Affairs loan guarantee modernization effort.
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The Bureau of Labor Statistics reported that the economy lost 92,000 jobs in February while unemployment held steady at 4.4%, a development that could spur the Federal Reserve to question whether interest rates are truly in balance.
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The announcement drove a large increase in Better's stock price, but UWM, Rocket and Pennymac all saw any gains earlier in the day more than dissipate.
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Many homeowners and first-time buyers are surprised by rising property taxes and insurance, which can sharply increase monthly mortgage costs beyond principal and interest.
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