As part of ongoing efforts to encourage the return of private capital in the residential mortgage market and strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund, Acting FHA Commissioner Carol Galante has announced a new premium structure for FHA-insured single family mortgage loans. FHA will increase its annual mortgage insurance premium (MIP) by 0.10 percent for … [Read more...]
Joe Mowery Named President of LenderLive Settlement Services Division
February 29, 2012 by
LenderLive Network Inc. has announced that Joe Mowery has joined the company as president of the LenderLive Settlement Services division. See more here: Joe Mowery Named President of LenderLive Settlement Services Division … [Read more...]
FinCEN Seeks Comments on Strengthening and Clarifying Customer Due Diligence Requirements
February 29, 2012 by
The Financial Crimes Enforcement Network (FinCEN) has issued an advance notice of proposed rulemaking (ANPRM) to solicit public comment on a wide range of questions pertaining to the possible application of an explicit customer due diligence (CDD) obligation on financial institutions, including a requirement for financial institutions to identify beneficial ownership of their accountholders. Click … [Read more...]
Titan Lenders to Begin Offering Loan Processing and Underwriting Services
February 28, 2012 by
Titan Lenders Corporation has announced that it is now providing mortgage processing and underwriting services, and has also announced the hiring of underwriting expert and mortgage industry veteran Jan Conner to manage its new service offering. Comprehensive regulatory scrutiny extending from origination to servicing necessitates that lenders tighten their production, quality assurance and … [Read more...]
Nationwide Title Clearing Raising Funds for Cancer Awareness
February 27, 2012 by
Nationwide Title Clearing (NTC) employees have announced that they have raised more than $3,900 for Relay for Life Palm Harbor, which will be held on April 13, 2012 at Palm Harbor University High School. They currently have 29 members on their team and will continue to “fun-raise” in order to achieve their goal of $15,000, to be donated to the American Cancer Society. See more here: … [Read more...]
Flagstar CEO Campanelli Projects Profitability fro 2012 as FHA and HUD Issues Are Resolved
February 27, 2012 by
Flagstar Bancorp Inc., the holding company for Flagstar Bank FSB, announced that it has entered into an agreement with the U.S. Department of Justice (DOJ) relating to underwriting practices associated with loans insured by the Federal Housing Administration (FHA) of the U.S Read More: Flagstar CEO Campanelli Projects Profitability fro 2012 as FHA and HUD Issues Are Resolved … [Read more...]
Flagstar CEO Campanelli Projects Profitability for 2012 as FHA and HUD Issues Are Resolved
February 27, 2012 by
Flagstar Bancorp Inc., the holding company for Flagstar Bank FSB, announced that it has entered into an agreement with the U.S. Department of Justice (DOJ) relating to underwriting practices associated with loans insured by the Federal Housing Administration (FHA) of the U.S. Department of Housing & Urban Development (HUD) More here: Flagstar CEO Campanelli Projects Profitability for 2012 as … [Read more...]
Home Sales Nationwide Fall 0.1 Percent in Q4
February 27, 2012 by
U.S. house prices fell modestly in the fourth quarter of 2011 according to the Federal Housing Finance Agency’s (FHFA) seasonally-adjusted purchase-only house price index (HPI). More: Home Sales Nationwide Fall 0.1 Percent in Q4 … [Read more...]
Sales of Newly-Built Homes See Slight Decline in January
February 24, 2012 by
Sales of newly-built, single-family homes declined by less than one percent in January from an upwardly revised number in the previous month to hit a seasonally adjusted annual pace of 321,000 units, according to data jointly released by the U.S. Department of Housing & Urban Development (HUD) and the U.S. See more here: Sales of Newly-Built Homes See Slight Decline in January … [Read more...]
LenderLive Settlement Services Expands Title Services Offerings With Acquisition of MoKan
February 23, 2012 by
LenderLive Settlement Services, a wholly-owned subsidiary of LenderLive Network Inc., has announced the acquisition of MoKan Title Services LLC. MoKan, with offices in Missouri and Kansas, offers basic and specialized title insurance coverage and services for residential and commercial lenders on new loans, refinances of existing loans, foreclosure-related actions and closings for real … [Read more...]
Appraisal Management Firm MountainSeed Names Nathan Brown Head of Compliance
February 22, 2012 by
MountainSeed Appraisal Management has announced that Nathan C. Brown has joined the company as its chief legal officer and senior compliance manager. Brown brings a substantial wealth of knowledge garnered through years of experience in advising clients through complex financial transactions to his new role at MountainSeed Appraisal Management. Read More: Appraisal Management Firm … [Read more...]
Foreclosure Starts Begin to Rise in January
February 22, 2012 by
Lender Processing Services Inc. Read More: Foreclosure Starts Begin to Rise in January … [Read more...]
DocMagic Teams With U.S. Army to Distribute Sergeant Doc Bunny
February 21, 2012 by
DocMagic Inc. has announced that it has teamed with the 315th U.S. Army Tactical Company to distribute this year's new DocMagic Bunny "Sergeant Doc" to local children and their families See original article: DocMagic Teams With U.S. Army to Distribute Sergeant Doc Bunny … [Read more...]
New CoreLogic Tool to Assist Servicers Adapt to Default Process Changes
February 21, 2012 by
CoreLogic has released a new default servicing platform to the mortgage industry that will streamline the way mortgage servicers manage loans through all stages of the default lifecycle. Link: New CoreLogic Tool to Assist Servicers Adapt to Default Process Changes … [Read more...]
How About Them Fraudsters? Former Cowboy Lockhart Faces 10 Years After Mortgage Fraud Conviction
February 20, 2012 by
Following a nearly five-week jury trial, four co-defendants in a mortgage fraud scheme run by former Dallas Cowboy Eugene J. Read more here: How About Them Fraudsters? Former Cowboy Lockhart Faces 10 Years After Mortgage Fraud Conviction … [Read more...]
Real Property Decisions Releases Tool for Improved Diligence on Non-Performing and REO Assets
February 20, 2012 by
Real Property Decisions has released its new Default Reconciliation Report, a valuation analysis service which provides mortgage servicers and investors with critical valuation information to supplement a broker price opinion (BPO) or appraisal. The Default Reconciliation Report meets the growing industry demands for a higher level of valuation diligence for non-performing and real estate-owned … [Read more...]
Californian Gets 57-Month Prison Term for Defrauding Mortgage Lenders
February 20, 2012 by
U.S. Attorney Benjamin B. Wagner has announced that Gabriel Viramontes of Elk Grove, Calif Excerpt from: Californian Gets 57-Month Prison Term for Defrauding Mortgage Lenders … [Read more...]
Need More Production? Adapt or Die!
February 17, 2012 by
Adaptation … one of the lesser spoken-about traits of the top business executive. In the ever-changing world of mortgage production, the ability to adapt could mean the difference between success and having to find a new line of work. Congratulations! The mere fact you are taking five minutes out of your day to read an article on the subject, by a writer you may never have heard of, shows you … [Read more...]
CFPB Requests Public Input on Prototype of Monthly Mortgage Statement
February 17, 2012 by
The Consumer Financial Protection Bureau (CFPB) is seeking public input on a draft monthly mortgage statement designed to make it easier for homeowners to understand their loans and avoid unnecessary costs and fees. The draft monthly mortgage statement is available by clicking here . The Dodd-Frank Wall Street Reform and Consumer Protection Act requires that most mortgage borrowers receive … [Read more...]
Mortgage Rates Remain Unchanged for the Week at the 3.87 Percent Mark
February 16, 2012 by
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates unchanged amid mixed consumer sentiment data as the average 30-year fixed-rate mortgage (FRM) has been at its all-time record-breaking low of 3.87 percent since the first week of February, below the four percent mark percent for the past 11 weeks, and below the percent for the … [Read more...]
