Industry Briefs, Aug. 12, 2024
(Image courtesy of Markus Winkler via pexels.com)
a360inc Acquires ProVest
a360inc, San Antonio, Texas, announced the acquisition of ProVest, Tampa, Fla.
As part of the transaction, investment funds managed by Morgan Stanley Investment Management (MSIM), Knox Capital and Nonantum Capital Partners made a strategic investment in a360inc.
The combination will help drive innovation and enhance service offerings.
CoreLogic Expands AutomatIQ Borrower
CoreLogic, Irvine, Calif., announced an expansion to its AutomatIQ Borrower to include asset and liabilities analysis.
The new update will combine income insights with detailed asset and liability data.
The combined features of income, assets and liabilities analysis provides lenders with accelerated processing times, enhanced transparency and the ability to identify missing documents while flagging potential new income sources or missing liabilities.
ACES Quality Management Rolls Out Deposit Accounts Audit Pack
ACES Quality Management, Denver, announced the release of its Deposit Accounts Audit Pack.
The audit pack is designed to assist with meeting the deposit account monitoring requirements from the Federal Deposit Insurance Corp. and other prudential regulators.
It includes custom data fields, ACES Managed Questionnaires and three new custom reports in Business Objects. The features can be customized to meet a financial institution’s particular needs.
Voxtur Announces Strategic Engagement With Deephaven
Voxtur Analytics Corp., Tampa, Fla., and Deephaven, Charlotte, N.C., announced a strategic engagement.
Voxtur is the parent company of Blue Water Financial Technologies; the partnership will leverage Blue Water’s technology and process management to help Deephaven streamline its operations.
The focus of the engagement will be on enhancing the agility and responsiveness of Deephaven’s service delivery.
Platte River Mortgage to Offer the Trade-In Mortgage in Colorado Via Calque Partnership
Platte River Mortgage, Lakewood, Colo., announced a partnership with Calque, Austin, Texas, to offer The Trade-In Mortgage in Colorado.
It will allow Platte River Mortgage loan officers to write non-contingent financing on buyers’ new homes and empower their borrowers to make more significant down payments with a HELOC that doesn’t count toward the debt-to-income ratio.
The Colorado market has seen significantly rising prices, Calque noted, and many home shoppers who are looking to sell their old home and move into a new one must make contingent offers–potentially putting them at a disadvantage compared with investors or larger entities.
Guild Mortgage Expands Guild Gateway to Homeownership Assistance Program
Guild Mortgage, San Diego, announced new programs and initiatives to better meet the needs of underserved borrowers, as well as an expansion to its Guild Gateway Homeownership Assistance program.
The homeownership assistance program is a proprietary lending program that provides up to $5,000 lender credit toward closing costs for designated census tracts. Guild has helped 683 families and provided assistance funds exceeding $3.7 million since launching in 2022.
The program can be paired with Conventional, FHA and VA financing, allows for down payments ranging from 0%-3% and includes mandatory homebuyer education.
Guild is also now offering qualified homebuyers who meet the program’s requirements FNMA HomeReady First, a Special Purpose Credit Program from Fannie Mae, providing a $5,000 credit to which Guild adds a credit of $1,500 to help with down payment and/or closing costs for first-time homebuyers.
Guild also offers the Freddie Mac BorrowSmart Access program, which provides $3,000 in assistance toward the down payment of qualifying homebuyers in select areas.
