Tag Archives: Company News

HUD announced Thursday that Bank of America has agreed to pay $161,180 to settle allegations of maternity-based discrimination. A complaint had been filed by the Fair Housing Council of Orange County against BofA alleging that one of its San Jose branches refused to refinance a woman's mortgage because she was on maternity leave. The Fair Housing Act prohibits discrimination in mortgage lending and real estate-related transactions based on race, color, national origin, religion, sex, family status, or disability. BofA was alleged to be in violation of the provisions protecting sex and family status.

Giving homebuyers a new way to access property information, BluFi Lending has unveiled its Mobile Connect service. The direct lender's smartphone initiative will serve as a marketing and communications platform for those seeking details on the go while surveying a potential property.

SharperLending LLC, a technology provider for the mortgage industry, announced Thursday that it has re-designed one of its key products, its Appraisal Firewall. The new version of the firewall allows for more integration between appraisers and lenders.

PropertyInfo Corp., a Stewart company, announced Thursday an upgraded driver that allows for more efficient and streamlined online document management with several new and enhanced features.

The thirteenth largest servicer in the nation, Dallas-based American Home Mortgage Servicing, Inc., announced Tuesday a company-wide re-launch under a new brand: Homeward Residential, Inc.

Lending solutions provider Wipro Gallagher Solutions announced Wednesday the results of a third-party scalability test of its loan origination system, NetOxygen, at levels of 10,000 to 20,000 users.

McDonald Computer Corporation, a mortgage servicing software provider based in Southfield, Michigan, announced Tuesday the celebration of its 36th anniversary.

The Supreme Court ruled unanimously in favor of Quicken Loans, Inc., Thursday, in a case that bars lenders from splitting settlement fees with third parties. The decision upholds an interpretation of the Real Estate Settlement Procedures Act that gives lenders leeway when it comes to charging fees. It rejects a longstanding HUD policy that interpreted the law to include a flat ban on unearned fees. Much of the contention surrounded previous guidance issued by HUD supporting the view that the legal framework prohibits lenders from charging unearned fees.

Advisory and risk management company MCT Trading, Inc., announced Friday the addition of a new member to its capital markets trading team.

Seeking to provide industry insight into the borrowers' perspective when purchasing a mortgage, eLynx has revealed the findings from its recent panel discussion with lenders and customers. To conduct its survey, eLynx, a portfolio company of American Capital, assembled an advisory group that included both lending professionals and borrowers, tapping the participants for feedback on the initiatives that could improve the mortgage loan experience and reduce stress during the process.