Mortgage rates, loan limits and forbearance

We cover the increase in conforming loan limits for Fannie and Freddie and what forbearance numbers and record-low rates could mean for the housing market.

Untying business growth from the housing market cycle

Lenders need business growth that is not linear and is not tied to the market cycles – leveraging automation technology can help.

The practical use of AI for LOs

The combination of tightly-packed schedules and intensive oversight means augmenting loan officer’s efforts with intelligent systems is more relevant than ever.

HousingWire's 2020 Tech Trendsetters

This year’s list of Tech Trendsetters certainly earned their status as the industry was met with incredible challenges and new opportunities.

FintechMortgageTitle/Escrow

First American to acquire subservicer ServiceMac

Acquisition set to close in 2021

First American Financial Corp. announced Monday an agreement to acquire subservicer ServiceMac, which it anticipates closing at the end of 2021.

First American Financial, which provides title insurance, settlement services and risk solutions for real estate transactions, has acquired a minority interest in ServiceMac’s parent company and that interest will convert into equity of ServiceMac at the acquisition’s closing, pending regulatory approvals.

ServiceMac was founded in 2017 as an independent subservicer, offering lenders, investors and other mortgage servicers personalized solutions that span the mortgage life cycle, enhancing security, customer satisfaction, retention capabilities and profitability, the company said.

“The acquisition of ServiceMac reflects our steadfast commitment to support the mortgage industry and further expand our product innovation efforts,” said Dennis Gilmore, chief executive officer at First American Financial Corp. “We’re excited to soon welcome to First American the people of ServiceMac, a rapidly growing company recognized for its technology and business leadership.”


LOs are only human — Tech is necessary to keep up with max loan volumes

Explore three steps that enable technology to work more efficiently, which helps drive profitability.

Presented by: Total Expert

ServiceMac’s mortgage subservicing business will complement First American’s existing capabilities and will enhance First American’s ability to provide lenders and servicers with end-to-end mortgage, settlement, post-closing services and servicing-related products and solutions, the companies said. Meanwhile, ServiceMac will have enhanced access to First American’s property and homeownership data and mortgage solutions products.

 “Joining the First American family accelerates our ability to develop new products and services that benefit our lender customers and their clients, while strengthening our position as a counterparty in the mortgage finance ecosystem,” said ServiceMac President and CEO Bob Caruso. “Our employees will also benefit by being part of a company named to the Fortune 100 Best Companies to Work For list five years in a row.”

ServiceMac’s management team, including Caruso, will continue to lead the company’s operations.

Leave a comment

Most Popular Articles

The downside of the hot 2020 housing market: rapid home-price growth

The mismatch in the COVID deflationary impact toward the economy overall and the strength of the housing market due to demographics makes for a troubling formula for home-price growth, which we are seeing. The recent NAR existing home sales report showed 15.5% year-over-year growth in prices. HW+ Premium Content

Nov 30, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please