MortgageDaily – Servicing Tech Targets Agency, Non-Agency Issues
New Truth in Lending Act Regulation Z rules require an escrow account for taxes and insurance on home equity loans, according to Fiserv Inc. — which recently said that its loan servicing platform now helps servicers comply. Financial Industry Computer Systems Inc. announced the introduction of eMessaging Service in August. GCC Servicing Systems reported in July that its servicing platform was one of the first to go live with Ginnie Mae’s business process improvement — an initiative to reduce risk and obtain more timely loans details from issuers. In May, OpenClose announced a venture with CCMC Inc. that enables users of OpenClose’s loan origination software to book closed loans directly to servicing systems.
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