Xactus and Truv partner on enhanced income, verification process

Verification provider Xactus and income and employment data solution firm Truv teamed up to court more mortgage lenders that will speed up the mortgage approval process. Xacuts’ current verification capabilities will be augmented with Truv’s income and employment data, Truv, formerly known as Citadel API, said. The firm expects the

Read more

Data hack prompts lawsuit against KeyBank, vendor 

Cleveland-based KeyBank, a mortgage lender and servicer with $187 billion in assets, is facing a lawsuit filed in federal court in Ohio stemming from a recent data breach that compromised its customers personal information, including social security numbers. The litigation, which seeks class-action status, alleges that a KeyBank vendor, Kennesaw, Georgia-based Overby-Seawell

Read more

UWM follows Rocket, hikes conforming loan limits

Fiercer competition in the wholesale channel spurred United Wholesale Mortgage (UWM) to increase the ceiling on conforming loans on Wednesday, ahead of the Federal Housing Finance Agency’s (FHFA) decision in November. UWM’s move follows an announcement on Tuesday from competitor Rocket Pro TPO, which was first out of the gate

Read more

Freedom Mortgage conducts layoffs, sends jobs overseas: sources

Top 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees tell HousingWire.  In response to falling origination volume, the New Jersey-based mortgage company has conducted at least four rounds of layoffs this year –

Read more

Expect more price corrections to the housing market 

Price corrections are coming to housing markets across the United States, Black Knight said following July’s home price decline from June. Relatedly, tappable home equity is expected to pull back in the third quarter as equity-rich markets already saw declines in July.  Home prices in July slipped 0.77% from June,

Read more