PennyMac and RoundPoint Mortgage announced that customers’ personal information may have been exposed in a data breach. Software vendor Sovos Compliance alerted the two companies of a “vulnerability” in its MOVEit file transfer program, which resulted in unauthorized access to customers’ private data, potentially including names and Social Security numbers. Due to the breach, Sovos is offering two years of credit monitoring and identity restoration services to customers of PennyMac and RoundPoint. All individuals whose information was affected were sent notification letters by Sovos.
Intercontinental Exchange completed its acquisition of Black Knight. The previously announced divestitures of Black Knight’s Optimal Blue product and pricing engine and Empower loan origination system to subsidiaries of Constellation Software are expected to be completed within the next 20 days.
Title insurance underwriter Attorneys Title Guaranty Fund announced its new name and brand, Advocus National Title Insurance Co. The Chicago-based organization, founded in 1964, says the name change was driven by its expansion plans. Little will change for current agents, according to a company statement, and all services and staffing levels will remain the same.
United Wholesale Mortgage (UWM) introduced Safe Check Complete and expanded its existing Safe Check program to now include government and jumbo loans in addition to conventional loans. With Safe Check Complete, brokers can order a prequalification based on a three-bureau soft credit check for $23. UWM will then pull a tri-merge hard credit report at no additional cost to the borrower. Loan officers will also be able to recoup the cost of Safe Check Complete at closing. Safe Check was originally launched in October 2022, offering $10 single-bureau soft credit checks. It was enhanced in January 2023 to allow independent mortgage brokers the ability to order a prequalification for their borrowers based on a three-bureau soft check for $23.
