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Archive | Banking and Finance

United Wholesale Mortgage Launches Freddie Mac’s Home Possible Mortgage Program

TROY, Mich., March 25, 2015 (SEND2PRESS NEWSWIRE) — United Wholesale Mortgage (UWM), one of the nation’s largest and fastest growing wholesale lenders, announced today the availability of Freddie Mac’s new Home Possible(R) Mortgage program, which enables first-time home buyers and low- to moderate-income borrowers to achieve home ownership with only a three percent down payment.

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ArteQuesta Announces Acceptance of Bitcoin – Breaks down Financial Barriers and Opens Economic Doors

MILL VALLEY, Calif., March 24, 2015 (SEND2PRESS NEWSWIRE) — ArteQuesta, a fine art investment company, today announced the acceptance of Bitcoin as a method of payment for the purchase of artworks. Without excluding the typical form of monetary exchange, ArteQuesta is the first and only organization in the art investment world to accept Bitcoin.

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IDS Achieves Record Annual Mortgage Initial Disclosure Fulfillment in 2014

SALT LAKE CITY, Utah, March 20, 2015 (SEND2PRESS NEWSWIRE) — Mortgage document preparation vendor International Document Services, Inc. (IDS), announced 2014 as a record year, generating the most initial disclosure docs in a single year in the company’s history. In addition, IDS set a company record in January 2015 for the most amount of initial disclosures generated in a single month. Total initial disclosure volume for the company in 2014 increased 13.6 percent over 2013.

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Brokers Gaining Market Share Again: 2015 is the Beginning of Broker Resurgence

TROY, Mich., March 17, 2015 (SEND2PRESS NEWSWIRE) — United Wholesale Mortgage (UWM), one of the nation’s largest and fastest growing wholesale lenders, announced that its president and CEO, Mat Ishbia, will be speaking on a webinar regarding brokers gaining market share in 2015. The webinar will be held March 18, 2015 from 11 a.m. – 12 p.m. PDT (2 – 3 p.m. EDT).

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DocMagic Named to HousingWire Magazine’s Annual HW TECH100 List

TORRANCE, Calif., March 17, 2015 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that HousingWire magazine designated the company to its 2015 HW TECH100(TM) list. The list honors the 100 most innovative technology companies serving the U.S. mortgage finance and real estate industries.

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ReverseVision Releases Financial Assessment-Required Screens by Original HUD March 2 Deadline

SAN DIEGO, Calif., March 6, 2015 (SEND2PRESS NEWSWIRE) — ReverseVision, the leading software and technology provider for the reverse mortgage industry, has released an update to their RV Exchange LOS that includes all Financial Assessment critical screens and calculations. This release was targeted to meet the Department of Housing and Urban Development’s (HUD’s) original Financial Assessment (FA) implementation date of March 2.

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United Wholesale Mortgage Enhances Loan Tracking Technology

TROY, Mich., Feb. 26, 2015 (SEND2PRESS NEWSWIRE) — United Wholesale Mortgage (UWM), one of the nation’s largest and fastest growing wholesale lenders, announced that it has significantly enhanced its loan tracking technology called UTrack, which was redesigned specifically to allow borrowers and real estate agents to have real-time access to track their purchase and refinance loans.

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Emilio N. Francisco, PDC CEO, Names Pat Brown as Project Manager for SummerPlace Development

COSTA MESA, Calif., Feb. 26, 2015 (SEND2PRESS NEWSWIRE) — Emilio N. Francisco, Chairman and Chief Executive Officer of private equity firm PDC Capital Group, announced that Pat Brown is joining senior housing real estate company SummerPlace Development as Project Manager overseeing the development of SummerPlace Assisted Living and Memory Care projects.

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UPDATED: OpenClose Adds Industry Veteran Will Foy to its Growing Team of Technical Staff

WEST PALM BEACH, Fla., Feb. 26, 2015 (SEND2PRESS NEWSWIRE) — *RETRACTION* (correct and replace) — In a press release issued by OPENCLOSE on Feb. 24, an inadvertent error was included in the 7th paragraph that referred to Agile Alliance as a certifying body instead of an educational and trade group promoting Agile software development. The corrected full-text replacement announcement follows: OpenClose, an enterprise-class end-to-end loan origination system (LOS) provider, announces that it has hired Will Foy as integration manager.

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Mid America Mortgage Hires Joanna Shelton as Mortgage Compliance Manager

ADDISON, Texas, Feb. 24, 2015 (SEND2PRESS NEWSWIRE) — Mid America Mortgage, Inc. (Mid America) announced it has hired financial compliance expert Joanna Shelton as the company’s next compliance manager. In addition, Shelton will oversee compliance for Mid America’s sister company Mortgage Machine Service and its flagship loan origination system (LOS) Mortgage Machine. Shelton brings more than 19 years of compliance expertise to Mid America.

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ReverseVision on Track for Financial Assessment Changes Despite HUD Delay

SAN DIEGO, Calif., Feb. 24, 2015 (SEND2PRESS NEWSWIRE) — John Button, president and CEO of leading reverse mortgage software and technology provider ReverseVision, says the Department of Housing and Urban Development’s (HUD) decision to delay implementation of its Financial Assessment (FA) rules provides a better opportunity for lenders to get the required technology changes including: ReverseVision’s, HUD’s and other systems implemented into their processes before using these tools in their day-to-day workflow.

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Quandis Unveils QLS, a Comprehensive Default Management Platform

FOOTHILL RANCH, Calif., Feb. 19, 2015 (SEND2PRESS NEWSWIRE) — Quandis, Inc., a leading provider of default servicing software, announced that it launched Quandis Loan Servicing (QLS), an end-to-end default management platform that automates and compliantly manages the default process from start to finish. QLS is offered as an all-in-one system and also as modules so various components can be leveraged by servicers based on individual needs.

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ARMCO to Present QC Benchmarking Tool ACES Analytics at MBA Technology Conference’s First-Ever Tech Showcase

POMPANO BEACH, Fla., Feb. 18, 2015 (SEND2PRESS NEWSWIRE) — ACES Risk Management (ARMCO), a leading provider of web-based quality control software for the financial services industry, announced it has been selected to present during the inaugural ‘Technology Showcase. at the Mortgage Bankers Association’s (MBA’s) National Technology in Mortgage Banking Conference and Expo 2015 in Orlando.

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ShortSave CEO Points Servicers to Borrower Self-Service Technology for CFPB Compliance

MONUMENT, Colo., Feb. 18, 2015 (SEND2PRESS NEWSWIRE) — Karl Falk, CEO of ShortSave, Inc., the provider of an award-winning borrower-facing mortgage default servicing system, foresees servicers being hamstrung by the human-powered servicing model in meeting the Consumer Financial Protection Bureau’s proposed amendments to its servicer rules.

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MorVest Capital Says Recent Changes on FHA Loans Will Impact Mortgage Servicing Rights Fair Value

DALLAS, Texas, Feb. 18, 2015 (SEND2PRESS NEWSWIRE) — MorVest Capital, a specialized investment firm focused on providing strategic capital and analytics solutions to the mortgage banking and residential finance industry, is drawing mortgage servicers’ attention to the impact two recent changes will have on mortgage servicing rights fair value for FHA loans.

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DocMagic Integration Supports MERS eRegistry

TORRANCE, Calif., Feb. 17, 2015 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry, announced that the firm has now completed its integration with the MERS(R) eRegistry, making it one of only a few industry vendors to integrate with the widely used system.

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ReverseVision Taps Wendy Peel as VP of Sales/Marketing

SAN DIEGO, Calif., Feb. 12, 2015 (SEND2PRESS NEWSWIRE) — ReverseVision, the leading software and technology provider for the reverse mortgage industry, announced seasoned sales/marketing executive Wendy Peel has joined the company as its vice president of sales and marketing. In this position, Wendy will be responsible for managing the ReverseVision brand, working with product development on system enhancements and broadening ReverseVision brand awareness among forward lenders and financial planners.

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DocMagic Implements MISMO Version 3.3 in Support of the TILA-RESPA Integrated Disclosure Rule

TORRANCE, Calif., Feb. 11, 2015 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the mortgage industry’s leader in compliant loan document preparation and driver of complete eMortgage adoption, announced that its entire solution set now adheres to version 3.3 of the Mortgage Industry Standards Maintenance Organization (MISMO) Reference Model.

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Veros CEO Darius Bozorgi Speaking at 2015 ABS Vegas Conference

SANTA ANA, Calif., Feb. 9, 2015 (SEND2PRESS NEWSWIRE) — Veros Real Estate Solutions (Veros), an award-winning industry leader in enterprise risk management, collateral valuation services and predictive analytics, is pleased to announce that president and CEO Darius Bozorgi will be a panelist at the 2015 ABS Vegas conference, the largest capital markets conference in the world.

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Bank of Southern California Successfully Raises $7.2 Million in Capital

SAN DIEGO, Calif., Feb. 9, 2015 (SEND2PRESS NEWSWIRE) — Bank of Southern California (OTCQB: FBBN) (the ‘Bank’) announced today that it completed a private placement of approximately $7.2 million of its common stock, positioning the Company to grow its Southern California Franchise.

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ARMCO Adds Advanced Reporting Capabilities to Mortgage Quality Control Software Via Tableau

POMPANO BEACH, Fla., Feb. 4, 2015 (SEND2PRESS NEWSWIRE) — ARMCO – ACES Risk Management, a leading provider of web-based quality control software for the financial services industry, announced it has enhanced the reporting capabilities of ACES Web Audit Technology(TM) through an innovative integration with Tableau Software, a global leader in rapid-fire, easy-to-use business analytics software.

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Mortgage Machine Services Offers Source Code to LOS

ADDISON, Texas, Feb. 3, 2015 (SEND2PRESS NEWSWIRE) — Mortgage Machine Services (MMS), a leading provider of enterprise lending solutions, announced it will begin offering the source code to Mortgage Machine(TM), its flagship loan origination system (LOS), to the entire mortgage industry. Previously hosted as a SaaS solution for a select group of mortgage banks, Mortgage Machine is a highly customizable origination platform that supports Retail, Wholesale and Correspondent lending.

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National Mortgage Professional Magazine Names MCT’s Phil Rasori to its Annual Top 40 Under 40 List

SAN DIEGO, Calif., Jan. 29, 2015 (SEND2PRESS NEWSWIRE) — MCT Trading, Inc. (MCT), a recognized industry leader in mortgage risk management providing pipeline hedging, best-execution loan sales and centralized lock desk services, announced that its COO, Phil Rasori, was named one of the Top 40 Most Influential Mortgage Professionals Under 40 by National Mortgage Professional magazine. Rasori earned a spot on the list largely for his lead role in architecting and launching MCTlive!(TM).

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United Wholesale Mortgage Unveils New, Feature Rich Loan Origination System for its Mortgage Partners

TROY, Mich., Jan. 26, 2015 (SEND2PRESS NEWSWIRE) — United Wholesale Mortgage (UWM), one of the nation’s largest and fastest growing wholesale lenders, announced today that it officially launched a completely new loan origination system (LOS) that is loaded with features and tools for brokers and correspondents. The proprietary technology replaces UWM’s previous LOS and offers many benefits for its broker and correspondent partners.

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Titan Capital Solutions Purchasing ‘Scratch and Dent’ Mortgage Loans

DENVER, Colo., Jan. 22, 2015 (SEND2PRESS NEWSWIRE) — Titan Capital Solutions (TCS), a wholly-owned correspondent investment subsidiary of mortgage services provider Titan Lenders Corp., today announced it has begun purchasing lenders’ ‘scratch and dent’ production – loans rejected by the GSEs and private investors due to data, document and compliance errors with varying degrees of severity.

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