Industry Briefs, Sept. 30, 2024
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Xactus Announces Integration, Selection
Xactus, Broomall, Pa., announced that it is now integrated with ACES Quality Management, Denver.
Lenders will be able to order, track and receive Xactus re-verification documents directly within the ACES Quality Management & Control platform to streamline the quality control audit process and avoid errors from manual data re-entry.
Xactus reports available within ACES include employment verification, credit report and tax transcripts.
Additionally, Xactus announced that it was named the exclusive credit reporting, verification and flood provider for ACUMA Services, Middleton, Wis. ACUMA Services is a program designed to provide ACUMA trusted credit unions and CUSO members with discounted products and services.
Via the partnership, credit unions that are not Xactus customers will receive discounted access to Xactus’ credit, verification and flood solutions. Quality assurance/quality control solutions, data solutions and valuation products will be available for reduced fees.
FHFA Releases Mortgage Loan, Natural Disaster Dashboard
The Federal Housing Finance Agency earlier this month released the Mortgage Loan and Natural Disaster Dashboard tool to provide geographic estimates for physical risks, such as natural disasters. The tool also contains other types of data on the housing and mortgage market
Users can combine FHFA’s Public Use Database with data on disasters and other analysis, helping identify areas of the country with elevated disaster risk and which of those areas have a significant number of properties featuring loans acquired by various entities.
The dashboard utilizes information from the PUDB, FEMA’s National Risk Index and FHFA’s Duty to Serve High-Needs Rural Areas data.
Calque Introduces Contingency Buster
Calque, Austin, Texas, announced a new “buy before you sell” program, the Contingency Buster.
The new program leverages Calque’s Purchase Price Guarantee, a binding backup contract that ensures if a homebuyer’s current home does not sell within 150 days, Calque will purchase it at an agreed-upon price.
It enables established lenders to provide non-contingent financing on the new home and remove the old home from debt-to-income calculations.
A&D Mortgage, Atlas Merchant Capital Team
A&D Mortgage, Hollywood, Fla., and Atlas Merchant Capital, New York, announced a joint venture to support the expansion of A&D’s mortgage securitization platform.
The joint venture will draw from a combination of internal and third-party capital and will purchase mortgage loans originated and serviced by A&D and other lenders with the goal of securitizing them, while investing across a range of securities in the sponsored transactions.
Atlas Merchant Capital will play an active role in the management of the mortgage investment strategy, the companies stated.
