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Fidelity Mortgage

Fidelity Mortgage - Grand Junction Colorado

Fidelity Mortgage Grand Junction was founded with the philosophy that the customer should always come first in mortgage lending. Since our doors ...

Ocwen Sues FIS Over Alleged Inflated Billing

Ocwen Financial Corp. has filed a lawsuit in California Superior Court alleging that Fidelity Information Services LLC (FIS) inflated its monthly rate and charged Ocwen for a variety of expenses while serving as its monitor for a 2015 mortgage servicing settlement case.

According to the filing, Ocwen alleges that FIS wasted an agreed to $44.8 million budget through “fraudulent or negligent misrepresentations in its monthly invoices to Ocwen”. The suit also claims “whenever Ocwen questioned the legitimacy of FIS’s invoices or confronted FIS about their increasing enormity, FIS reiterated its misrepresentations that the hours and expenses reflected on the invoices were legitimately worked and incurred.”

Because FIS held fast that its invoices were legitimate, “FIS induced Ocwen to continue to pay millions of dollars for work that was not performed,” the filing stated. Ocwen alleges that FIS did so because the monitor felt that it had “free reign to lie to Ocwen without consequence.

Fidelity National Title Integrates Pricing Services within LendingQB's LOS

Fidelity National Title, a leading provider of national title and escrow services, today announced it has completed a cooperative integration with LendingQB, a leading provider of loan origination technology solutions, to offer seamless title services built within the company’s loan origination software (LOS).

Fidelity’s partnership with LendingQB centralizes title quoting and ordering within one user interface in the LendingQB LOS. By keeping the user inside the LOS environment, the time and cost to close the origination is reduced in an effort to meet the closing deadline.

“We are excited to bring this new efficiency to our busy lenders who have selected us for our premier service,” said Fawn Downing, Vice President of the Lender Division, Fidelity National Title. “Lenders can now obtain up-front pricing, as well as click-to-order, without ever leaving the LendingQB LOS. Streamlining processes for our customers is very important to us.”

Fidelity Mortgage sells a mortgage on Doug's home to Enterprise Bank.Enterprise erroneously pays the real esta

te taxes on the home. When Enterprise demands reimbursment, Doug refuses, arguing that no contract exists that obligates him to reimburse the bank. What legal theory might Enterprise use to get its money from Doug?

Was there an escrow account set up for taxes in the original loan with Fidelity? If not, chances are Doug also paid the taxes to the county unless Enterprise brought it to Doug's attention that they had already paid them.