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  • Pending home sales hit second highest point in decade

    Pending home sales increased in July led by high gains in the West, which hit its highest month in more than three years. There is, however, still room for more growth. There’s little doubt there’d be more sales activity right now if there were more affordable listings on the market. Click the headline to read more.

SunTrust Partners with Metavante for Origination Quality

SunTrust Mortgage integrated banking technology provider Metavante's (MV) origination platform into its retail and third-party mortgage operations. SunTrust -- the Richmond-based subsidiary of SunTrust Banks -- added the platform to allow retail loan officers, origination call centers, correspondent lenders and mortgage brokers access to eligibility and pricing data on SunTrust's mortgage products. The technology allows SunTrust to offer risk-adjusted pricing and provides the lender with Federal Housing Administration/Veteran's Administration lending capabilities. "With Metavante's origination platform we have an enhanced ability to implement and adhere to investor guidelines and risk-based pricing," says SunTrust president Sterling Edmunds in a press release. "We are intensely focused on credit quality and the overall quality of each loan file itself, especially since the mortgage lending process has become increasingly more complex." Write to Diana Golobay. Disclosure: The author held no relevant investment positions when this story was published. Indirect holdings may exist via mutual fund investments.

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