Danica Patrick to introduce new Argent alt-A products – NMP Skip to main content

Danica Patrick to introduce new Argent alt-A products

National Mortgage Professional
Nov 20, 2006

ABC announces the launch of DU/CDU import processMortgagePress.comAmerican Brokers Conduit American Brokers Conduit (ABC), the wholesale division of American Home Mortgage Investment Corporation, a publicly held mortgage real estate investment trust, has announced that brokers now have the ability to import their Desktop Underwriting (DU) and Custom Desktop Underwriting (CDU) findings, 1003 and credit directly to the company's Web site at www.abconduit.com. Importing DU/CDU findings is another step that ABC has taken in giving their broker partners a competitive edge. By importing their DU/CDU findings directly to ABC, brokers can get a pre-approval prior to loan submission, giving their clients a decision in minutes instead of days. The DU/CDU findings include the 1003 and credit report as well. By importing the broker's credit report electronically, ABC can eliminate the need for re-pulling credit—saving both the broker and his client the possibility of the loan being re-priced or re-structured as the client's credit scores are maintained. "We are very excited about this enhancement, as we are one of only a few lenders offering such an extensive product line through CDU. Now that we have the ability to receive these files electronically, we are confident that this technology will help our broker partners close more loans and grow their business significantly," noted Lisa Schreiber, executive vice president of ABC. "Being able to offer clients a pre-approval letter in minutes will give ABC broker partners a significant advantage in the purchase market with their borrowers and their referral partners." In addition, as of Aug. 1, ABC now offers an online pricing incentive of one-eighth for all DU/CDU finding imports. ABC is looking to deliver exciting new capabilities before year end to continue to bring value to their broker partners. "This enhancement is already promoting increased broker interaction with our ABC Web site, providing a more positive loan process experience for our broker partners and their clients," Schreiber concluded. Brokers can get ABC product-specific DU and CDU findings through efanniemae.com, eMagic and AU Central, with FannieMae providing a direct link to www.abconduit.com through "Link to Lender" and giving brokers a more streamlined loan process. For more information, visit www.abconduit.com.
Published
Nov 20, 2006
Chairman Xu Sells Off Personal Assets To Avoid Default

The Evergrande saga continues as Chairman Xu Jiayin sells off 7 billion yuan ($1.1 billion) of his personal assets to prop up the deflating property giant.

Industry News
Nov 23, 2021
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Tech
Nov 23, 2021
Mortgage Company Donates $100K To High School In Memory Of Fallen U.S. Navy Corpsman

Cleveland-based CrossCountry Mortgage donated $100,000 to Milan Edison High School in memory of U.S. Navy Corpsman, Maxton W. Soviak, who died while assisting in the evacuation of Americans and refugees in Afghanistan in August.

Community
Nov 23, 2021
MISMO Seeks To Standardize Pre-Closing Title Data

Forming workgroup to focus on standardizing document datasets to streamline process and increase efficiency.

Industry News
Nov 23, 2021
Pandemic's Impact On Real Estate Around The World

Although the impact of the COVID-19 pandemic on the real estate industry has been well-documented within the United States, it’d be prudent to know how the global event impacted other countries as well. 

Industry News
Nov 22, 2021
Housing Market Potential Strengthens Modestly

First American Financial Corporation's Potential Home Sales Model for October 2021 reported that potential existing-home sales increased 0.1% month-over-month to 6.27 million, with household formation continuing to grow, largely driven by millennials.

Analysis and Data
Nov 22, 2021