ALBANY, N.Y. - (04/12/06) - IA Systems said Tuesday that fivemore of its credit union clients have migrated to its new loanprocessing system, called StreamLend Velocity, from their currentIA Systems StreamLend product. Those credit unions are: EducatorsCU, Racine, Wis., Metropolitan CU, Chelsea, Mass., FinancialPartners CU, Downey, Calif., First Technology CU, Beaverton, Ore.,and Bay FCU, Capitola, Calif. StreamLend Velocity is acustomizable, paperless, web-based loan origination system designedto automate and streamline the lending process for consumer, homeequity and indirect loans.
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This data release means another milestone for the use of updated credit score models than the current FICO Classic has been met by Fannie Mae and Freddie Mac.
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The Connecticut-based bank announced its release from a formal agreement with regulators. It is pushing to expand in wealthy areas such as Beverly Hills, California, and Palm Beach, Florida.
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The fintech said that Senior Vice President of Group Finance Hwa Tsao would become the company's interim chief financial officer effective Sept. 1 following the departure of CFO Ethan Tandowsky at the end of August. Separately, Gayathri Rajan will assume the role of chief product officer, effective immediately.
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The rise in completed modifications occurred as many other loan performance indicators plateaued, and may reflect the temporary impact of recent rule changes.
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A bill setting national standards for earned wage access programs passed the House Financial Services Committee in a 29-22 vote.
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Courts in Sweden told Google to pay price comparison website and Klarna subsidiary PriceRunner nearly $2 billion after the court found that Google favored its own price comparison service. PriceRunner initially sought more than $8 billion in damages.
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