Lancaster Mortgage Bankers, a wholesale lender based in Warren, N.J., is deploying Mozart AUS, an automated underwriting application by Overture Technologies, Bethesda, Md."We're leveraging Overture's Mozart AUS to produce our own proprietary underwriting engine for use within our website," explained Elliot Salzman, Lancaster's president and chief executive officer. "We expect to be able to increase volume by 20%-30% while keeping the same number of staff." Mozart AUS offers Lancaster the ability to automatically price, select, and underwrite all conforming and nonconforming loans, including alternative-A, subprime, and interest-only products. The application is expected to be fully operational by early 2006. Overture can be found on the Web at http://www.overturetechnologies.com.
-  
The inspector general's office, responsible for overseeing the regulator, now sits vacant amid Director Bill Pulte's swift changes and numerous fraud probes.
3h ago -  
The agreement, if approved by a federal judge, would end litigation over two distinct cybersecurity incidents in 2021 which affected over 2 million customers.
3h ago -  
The Consumer Financial Protection Bureau has seen a rapid drop in the effectiveness of its cybersecurity program, according to a new report from the Fed's Office of Inspector General.
4h ago -  
Now that quantitative tightening is ending, the debate on who should be the MBS buyer of last resort, Fannie Mae and Freddie Mac, or the Fed, is taking hold
4h ago -  
In her first public appearance since President Trump moved to fire her from the Federal Reserve Board of Governors, Fed Gov. Lisa Cook reiterated her commitment to bringing inflation under 2% and said that the labor market remains "solid."
5h ago -  
Refinancing pushed mortgage originations higher as rates eased, and home equity lending kept growing, but rising delinquencies signal mounting borrower stress.
5h ago 





