California's Nevada and Placer counties have selected Lender Processing Services Inc.'s Aptitude Solutions' division to provide a software solution that further automates and streamlines land recording and indexing for both counties. OnCore, Aptitude Solutions' recording and indexing platform enables county governments of all sizes to reduce internal paperwork and easily manage workflow by electronically moving document images through the recording process, rather than through traditional manual and paper-intensive processes. OnCore's features include electronic recording, automatic document queuing, electronic digital stamping, historic image back posting, full accounting functionality. Nevada County will become the first county in California to implement Aptitude Solutions' OnCore platform for electronic land records indexing and e-recording. Placer County also plans to implement the OnCore platform to handle high-volume recording and to provide increased automation and detailed audit checks.
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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.
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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.
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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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