DENVER (12/22/09)--LenderLive Network Inc., a provider of business process outsourcing and technology for the financial industry, has completed all software upgrades needed to comply with new Real Estate Settlement Procedures Act (RESPA) regulations. RESPA is effective Jan 1. RESPA requires lenders and brokers to provide consumers with a standard Good Faith Estimate (GFE) disclosure of key loan terms and closing costs. LenderLive’s GFE and Truth in Lending Act forms meet state and federal compliance regulations. LenderLive is based in Denver.
COLUMBIA, S.C. (12/22/09)--Palmetto Cooperative Services (PCS) has completed a campaign to raise more capital. Responding to a private placement offer, 26 South Carolina credit unions have joined with South Carolina Service Corp. (SCSC) to provide more than $8 million in capital for PCS, a credit union service organization. The new funding will be used for debt restructuring, research and development, and marketing enhancements. PCS was created in 1969 as a wholly owned subsidiary of the South Carolina Credit Union League. The CUSO now is independent and was established as a limited liability company this year. Ed Culpepper serves as president of PCS LLC. SCSC is the league’s services corporation. It provides services to South Carolina credit unions through system relationships and administration of fee-based services for league-member institutions. PCS provides item processing services, Check 21 solutions, paper and electronic statements and periodic notices to 400 credit unions nationwide.