Category Archives: Servicing

Accurate Group now offering electronic notary services

The “e-ization” of the mortgage business took another step forward this week, as Accurate Group, a provider of real estate appraisal, title and compliance services, announced that it is now offering electronic notary services.

The program, called NotaryWorks, allows lenders to offer borrowers a variety of closing options. NotaryWorks offers a complete, in-home notary experience that offers multiple options, including eNotarization, an online, remote notary, as well as mobile notaries for borrowers who prefer that option.

According to Accurate Group, its NotaryWorks program combines electronic documents, process flows, secure e-signature and e-notarization technology in an “easy-to-use” platform.

Additionally, all notaries are certified and pre-screened by Accurate Group.

The company also said that NotaryWorks can be combined with an eSign option that allows for a complete eClosing.

“As an appraisal, title and closing service provider, we are always looking for ways to innovate processes and leverage technology to deliver greater value to lenders and borrowers,” Paul Doman, president and CEO of Accurate Group said.

“NotaryWorks delivers the best of both worlds – the latest in online, remote e-notarization technology, plus the added choice of mobile notaries for those who prefer an in-person approach but don’t want to leave their home or office,” Doman added. “With the addition of NotaryWorks to our product portfolio, we can now offer lenders a complete e-closing solution to accelerate loan closing and improve the borrower experience.”

 

Article source: https://www.housingwire.com/articles/41616-accurate-group-now-offering-electronic-notary-services

U.S. Bancorp reports record earnings despite drag from mortgage revenue

U.S. Bancorp reported record net revenue and net income during the third quarter of this year.

The bank reported net revenue to $5.61 billion, a record high and up 4.1% from last year’s $5.39 billion. This is also up 2.2% from $5.49 billion in the second quarter this year.

“We remain deeply committed to value creation for our shareholders, and in the third quarter, our dividend increased by 7.1%,” said Andy Cecere, U.S. Bancorp President and CEO. “Overall, we returned 79% of our earnings to shareholders through dividends and share buybacks. As we move into the fourth quarter, we plan to build on the momentum we have established.”

U.S. Bancorp also reported a new high in net income with nearly $1.57 billion, up 3.8% from $1.51 billion in the second quarter and up 3.5% from $1.52 billion last year.

This translated to an increase of 3.5% from last quarter’s diluted earnings per common share of $0.85 to $0.88 per share in the third quarter. This is up 4.8% from last year’s $0.84 per share, and also an all-new high.

Despite the record-setting earnings report, noninterest income posted an annual loss of 0.9% driven by losses in mortgage banking revenue. This loss was primarily due to a drop off from last year’s strong refinancing activity.

However, the loss in noninterest income was partially offset by increases in trust and investment management fees, payment services revenue, treasury management fees and higher equity investment income.

“Our company is strong and we are well positioned for growth. We continue to be focused on delivering a great customer experience through our One Bank initiatives, optimization of our businesses, data analytics, process improvements and product delivery,” Cecere said.

“We are investing in innovation and technology to drive growth and improve efficiencies in the future,” Cecere added. “Our strong revenue base and financial discipline positions us for growth heading into the next year.”

Article source: https://www.housingwire.com/articles/41596-us-bancorp-reports-record-earnings-despite-drag-from-mortgage-revenue

Freddie Mac: Mortgage rates slip after 2 weeks of increases

Mortgage rates fell for the first time in two weeks, falling further away from the 4% mark, according to Freddie Mac’s Primary Mortgage Market Survey.

“Rates came down slightly this week, ending a brief, two-week streak of increases,” Freddie Mac Chief Economist Sean Becketti said.

Click to Enlarge

10-19-17

(Source: Freddie Mac)

The 30-year fixed-rate mortgage dropped to 3.88% for the week ending October 19, 2017. This is down from last week’s 3.91%, but up from 3.52% last year.

The 15-year FRM also decreased, falling from 3.21% last week to 3.19%. This is still up from 2.79% last year.

The five-year Treasury-indexed hybrid adjustable-rate mortgage ticked up slightly, rising to 3.17%, up from 3.16% last week and 2.85% last year.

“The 10-year Treasury yield dipped six basis points, while the 30-year fixed mortgage rate fell three basis points to 3.88%,” Becketti said.

Article source: https://www.housingwire.com/articles/41607-freddie-mac-mortgage-rates-slip-after-2-weeks-of-increases

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