Mortgage processing

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/Mortgage processing

Intelligent Environments on course for first full year profit

UK retail banking software firm Intelligent Environments (iE) says it expects its 2006 revenues to come in ahead of expectations, leading to its maiden full year profit as a public company - ten years after its flotation in 1996.

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Abbey to launch online network for first-time buyers

UK high street bank Abbey has launched a Website where first-time buyers can correspond and share their experiences of buying a house, and flag potential pitfalls.

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HBOS mortgage customers hit by systems glitch

UK banking group HBOS is working to fix a processing glitch that resulted in monthly mortgage payments being mistakenly taken from thousands of current accounts on consecutive days this week.

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Chase signs for Fidelity mortgage servicing software

JPMorgan's consumer and commercial banking unit Chase is implementing technology from Fidelity National Information Services to upgrade and replace its multiple legacy mortgage servicing platforms.

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HSBC introduces online advice centre for first-time buyers

UK banking group HSBC has launched an online advice centre for first-time buyers which provides access to free, independent advice on the home-buying process.

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Banks tap social networks to target youth market

Financial services firms exploring the use of Web 2.0 technologies are looking to 'social media' channels - such as myspace and youtube - to connect with new customer markets, and in particular the youth market.

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Turkey's Akbank deploys Fair Isaac technology for mobile-based loan service

Akbank, Turkey's largest privately owned bank, has implemented Fair Isaac's decisioning technology to support a new service that allows customers to apply for mortgages and loans using their mobile phones.

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Bristol & West introduces direct online mortgage service

The Bank of Ireland's personal lending division Bristol & West (B&W) has unveiled a new direct online mortgage portal for the financially literate, Giraffe.

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Vertex inks £45m Deutsche Bank mortgage outsourcing deal

British BPO outfit Vertex Financial Services has won a five year contract, worth around £45 million, to provide outsourced mortgage processing services to db mortgages, Deutsche Bank's new mortgage unit in the UK.

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Yorkshire introduces virtual agent to chat with mortgage customers

The UK's Yorkshire Building Society (YBS) has introduced a virtual assistant to its Web site to answer online queries from mortgage customers.

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Online mortgage auction launched in UK

An online mortgage service has been launched in the UK which aims to reduce the cost of borrowing by pitching lenders against each other to compete for business.

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ABN Amro customer data tape lost in transit

ABN Amro Mortgage Group, a US subsidiary of the Dutch banking giant, says a computer tape containing the confidential data for two million customers was lost while being transported to a credit bureau.

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BancTec buys SDS Applications

Texas-based BancTec has acquired SDS Applications Limited, a UK provider of mortgage processing systems and derivatives trading software, for an undisclosed sum.

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Chase to dismantle legacy mortgage systems; signs for Fiserv MortgageServ

Chase, the consumer and commercial banking unit of JPMorgan, is rolling out Fiserv's mortgage servicing platfom, MortgageServ, to replace its outdated and disparate legacy systems.

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Lloyds TSB to close C&G processing centre; shift jobs to India

UK bank Lloyds TSB is shifting more jobs to India after deciding to close an administration and customer service centre operated by its mortgage provider Cheltenham & Gloucester (C&G).

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Barclays exits mortgage processing JV

The UK's Barclays Bank is disbanding a mortgage processing joint venture it established with Countrywide Financial of the US and bringing the operations back in-house.

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Cahoot tests mortgage market

UK standalone bank cahoot is to test the market for remote mortgage sales in a six-month trial conducted in conjunction with high street parent Abbey.

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Metavante buys mortgage loan software firm GHR Systems for $65m

Metavante, the highly acquisitive financial technology subsidiary of Marshall & Ilsley Corporation, is buying GHR Systems, a Pennsylvania-based provider of loan origination software, for $65 million.

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Wachovia chats online with mortgage customers

US bank Wachovia is using technology from Kana to enable its mortgage customers to chat online with a loan counsellor when completing online applications.