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National Mortgage Professional

Nov 06, 2007

Associated Software Consultants launches secondary marketing softwareMortgagePress.comMortgage secondary marketing software Associated Software Consultants Inc. has announced the launch of PowerSeller GPS, a technology solution designed to help small to mid-tier mortgage bankers and brokers grow secondary marketing operation profits by streamlining marketing activities, facilitating communication among stakeholders and delivering cost savings. PowerSeller GPS provides originators with tools to manage existing pipeline and investor commitments. It allows originators to capture key data elements to verify loans are properly priced and ensure that investors are funding loans correctly. ASC is a designer and marketer of loan automation and secondary marketing software for the banking industry, based in Middleburg Heights, Ohio. For more information, call (440) 826-1010 or visit www.asconline.com.

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Nov 06, 2007

Analysis and Data

Fannie Mae Transfers Credit Insurance Risk On $31.8B In Loans

CIRT 2023-2 and CIRT 2023-3 transferred a combined $926 million of mortgage credit risk to private insurers and reinsurers.

Fannie Mae said Monday it has executed two credit insurance risk transfer (CIRT) transactions with a combined value of $31.8 billion. As part of Fannie Mae’s effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market, CIRT 2023-2 and CIR...

Courts

Judge OKs Amended Lawsuit Claiming Predatory Lending By Wells Fargo

Officials in 3 Ga. counties filed the complaint claiming Wells Fargo engaged in an 'equity stripping' scheme that targeted minorities.

A federal judge ruled late last week that a predatory lending complaint filed against Wells Fargo & Co. by three counties in Georgia can proceed. Judge Michael L. Brown of the U.S. District Court for the Northern District of Georgia, Atlanta Division, had previously di...