The innovative franchise system launched by a mortgage company may enable mortgage brokers to go into business for themselves and earn additional compensation in an industry recently beset by tough new compensation rules. LenderCity, a Missouri-based company, recently announced its completion of a Uniform Franchise Disclosure Document (UFDD), which will allow licensed brokers running businesses to retain their financial independence and access back-end services without losing their identities.
Read More »Fiserv and Dollar Bank Consolidate Consumer Loans
Dollar Bank, one of the nation's largest mutual savings banks, is teaming up with Fiserv, Inc. to institute a single online platform that streamlines all of the bank's borrower loan information. Fiserv's online, real-time servicing solution consolidates borrower information for banks, credit unions, and investors. The company says by pooling all of Dollar Bank's consumer loans onto one servicing platform, the lender can realize additional cost savings and better serve its customers at the same time.
Read More »PSM Holdings, Brookside Sign Merger
PSM Holdings, Inc. has agreed to merge its mortgage banking arm with Oklahoma's Brookside Mortgage, LLC, forming a new entity that the parent company will manage under a wholly owned subsidiary. The merger serves as the next step in a broader expansion strategy by PSM Holdings, which it began in 2010 by acquiring another Oklahoma-based mortgage banking company, CBB, Inc., and continued by acquiring UCMC in February this year.
Read More »Zillow Releases New Mobile App
Homebuyers can now review the latest mortgage loan quotes right from their phone for loan shopping on the go. On Tuesday, Zillow released a statement publicizing the launch of its newest innovation: a mobile app that allows iPhone users to navigate the mortgage market and receive the latest custom quotes from lenders and mortgage bankers, with tools to determine the amount of their monthly payments and decide whether refinancing packages would make sense for their homes.
Read More »ISGN, LoanSifter, and MORvision Team Up On Tech
ISGN is partnering with LoanSifter to offer MORvision's first integrated loan product and pricing engine initiative. The collaboration will use Loansifter's real-time product and pricing engine.
Read More »Allstate Sues Over Citi, Deutsche Bank Hide-And-Seek
As expected, Allstate has filed against Citigroup and Deutsche Bank AG Allstate is suing over accusations that the banks covered up risks on more than $385 million in mortgage securities purchased by the insurance company.
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