Items Tagged with 'Southfield'


  • Community Bank Picks Mortgage Builder for Origination Software

    Black Hills Community Bank selected Southfield, Michigan-based Mortgage Builder Software's loan origination platform to facilitate the loan process at its growing mortgage division. The Michigan-based bank recently hired Lori Lynass to head up real estate loans as it expands its mortgage business. Lynass brings 20 years of mortgage experience to the bank and chose Mortgage Builder to automate the loan process at the bank.
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  • Two More Servicers Join HAMP

    Mortgage Center and Mission Federal Credit Union both signed on to the list of now 34 mortgage servicers participating in the modification incentive program under the Troubled Asset Relief Program (TARP). The Home Affordable Modification Program (HAMP) allocates TARP funds to servicers to use as interest rate reduction subsidies or to distribute to participating lender/investors or borrowers.
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  • First Integrity Mortgage Goes Live with Mortgage Builder LOS

    Keeping things personal is extremely important to First Integrity Mortgage of St. Louis, Missouri, to the point that they don’t use voice mail or screen phone calls, so that callers can always talk to a live person. So when they were faced with being orphaned by their "sunsetting" loan origination system -- a problem faced by many mortgage originators as technology providers consolidate and/or exit the business during the current downturn -- they went looking for a replacement whose provider reflected their personal service values.
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  • Company Touts Entry into Subprime Wholesale

    Is a new company about to try its hand at subprime wholesale? According to a press statement today, it would appear so -- a Southfield, Mich.-based company by the name of Right Stop Mortgage LLC said Monday it would launch a subprime wholesale operation by the end of the month, using a net-branch model.
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  • High-Risk Game: New Entrants Vying for Vacant Spots in Subprime Lending

    As major Wall Street banks and federal regulators have stepped in to close off available funding to many of the nation's largest subprime mortgage lending operations, other would-be players with dreams of making it big in the subprime market are moving quickly as part of an attempt to gain market share. It's a move the companies involved are painting as one part visionary, one part caring for the subprime borrower. Many industry insiders, however, say the moves are poorly-timed and even more poorly-conceived. Southfield, Mich.-based Creative Mortgage Lending and Clarksdale, Ind.-based Superior Development Group, Inc. are two examples of a new breed of lenders making an attempt to put a dent in a market they see as ripe for entry.
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  • Origen Shutters Wholesale Lending Division

    In the latest of a string of wholesale lenders to make an exit this month, Housing Wire has learned that Southfield, Mich.-based Origen Financial said late Tuesday that its wholesale lending division has been shut down. The company specializes in manufactured housing loans. A notice posted Wednesday on Origen Wholesale Lending's website said that the company will be transferring its wholesale operations to select correspondent partners.
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