Altisource, a mortgage technology company in Luxembourg, has completed its acquisition of Mortgage Builder, a loan origination software firm in Southfield, Mich.
The deal was announced in
Altisource was spun off from mortgage servicer Ocwen Financial in August 2009. The company has expanded in recent months, launching Altisource Labs, a venture capital wing, in May. It also recently opened
Cases involving accusations of redlining, kickbacks, underpaid employees and more swept across the mortgage industry in recent months.
Broward County in Florida has the highest property tax increase since 2019, at 56.80%.
Fees falling outside of tolerances cost the industry more than $1 million per 1,000 loans, according to an ICE Mortgage Technology study from earlier this year.
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The Consumer Financial Protection Bureau released a proposed version of the consent order on Jan. 17 and the company involved said it was finalized that day.
Bright Financial denied the allegations that the company and its affiliates paid kickbacks to real estate brokers and agents in exchange for referrals.
