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Mortgage Lead News
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Monday, May 21, 2012 |
02:15 PM |
Texas
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At least two companies hope to capitalize on Mortgage Guaranty Insurance Corp.'s upcoming exit from the business of providing websites for mortgage loan originators. One of the replacement offerings promises to boost lead generation results.
MGIC got into the website business in January 2006 with its acquisition of Myers Internet Inc., which provided point-of-sale solutions for mortgage originators and real estate agents.
"By acquiring Myers, MGIC can bring further efficiencies to mortgage lending," MGIC Investment Corp. Chairman, President and Chief Executive Officer Curt S. Culver said in a statement at the time of the acquisition. "This will benefit our customers and ultimately homebuyers."
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Proceeds from a $3 million LendingTree LLC settlement have started being disbursed. The settlement resolved litigation that alleged the company failed to make the required mortgage broker disclosures on loans in South Carolina.
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The premier event for the mortgage servicing industry starts on Tuesday and includes presentations by the commissioner of the Federal Housing Administration and the president of the Government National Mortgage Association. This month's calendar includes a leads conference. The former chairmen of both major political parties were speakers at a recent commercial mortgage event. A look at the Mortgage Daily conference calendar indicates that nearly 50 mortgage-related events are being held next month alone -- though more than 70 conferences and meetings have been identified so far for the second quarter. This month's calendar includes a leads conference.
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In addition to residential mortgage leads, loan originators now have access to leads for commercial mortgages, loan modifications and the federal refinance program. One lead generation firm recently started offering exclusive leads and a lead-scoring engine, while another is guaranteeing quoted rates for prospective borrowers. Two other lead firms recently merged.
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Despite its planned exit from mortgage originations, LendingTree LLC has increased its warehouse lending capacity. It the second time that the company has recently scored a new line.
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A settlement has been reached between LendingTree and South Carolina officials over allegations that the Charlotte, N.C.-based company brokered loans without the proper disclosures.
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Banks, service providers and a lead company are among the companies that have been cutting back on staffing -- many because of plant closings. Some of the recent layoffs are the result of business closings. A good portion of the job cuts are concentrated in California and Florida.
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A former financial analyst for Countrywide Financial Corp. has been sentenced to hard time in prison.
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Several dozen mortgage jobs are being eliminated at a LendingTree.com office in Indiana. The layoffs come as the company closes offices in three states.
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Prospective borrowers who are out touring open houses -- armed only with their wireless devices and a new iPhone application -- can now access pricing engines, mortgage calculators and competing lenders.
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