After a long and tumultuous battle with financial institutions over the capitalization of loan origination
costs, the IRS now appears willing to concede the issue.
As a result of the decrease in mortgage loan originations
and the sales of servicing rights, the company expects its servicing portfolio at March 31, 1993, to be substantially equivalent to the level at Dec.
In addition, the growth in both Bridger's loan origination
volume and its securitization activity far outpaced the industry's 20% growth rate as we continued expanding our relationships with commercial banks nationwide.
Financial institutions recently achieved a significant victory over the IRS in their ongoing battle to deduct loan origination
costs as ordinary and necessary business expenses.
Leveraging Ellie Mae's ePASS platform, lenders can simply and cost-effectively integrate the PA system with existing loan origination
PHILADELPHIA -- Acquisition of Certain Assets of ESI Mortgage, LP Represents Continued National Expansion of Company's Loan Origination
Gordon, Chairman and Chief Executive Officer, stated, "The Company experienced strong adjustable rate loan originations
throughout the month of April, while at the same time booking a steady stream of new adjustable rate multi-family and commercial loans into the loan pipeline.
The way the lending process was structured, we always had to sell over 50% of FIPMC's loan originations
, which resulted in noninterest income comprised of 'one-time' cash gains plus other mortgage banking income.
The Credit Network has customized electronic interfaces with all leading loan origination
system providers for automated loan origination
MORvision is a loan origination
software system that automates point-of-sale, web origination, processing, underwriting, closing, secondary tracking and delivery.
May's $30 million in loan originations
are double what can be compared to the Company's best months of business last year," said Luis Alvarez, Whitehall's President and CEO.
Science Applications International Corporation's (SAIC) Broadway & Seymour Group today announced an agreement with American Management Systems (AMS) to integrate the group's TouchPoint(TM) customer relationship management (CRM) product suite with AMS' Automated Credit Application Processing System (ACAPS) Anywhere(TM) loan originations