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• Bank Expands Mortgage Staffing Plans May 16, 2012
  Staffing at a mortgage center opened last year in Arizona was originally expected to reach a hundred. But that goal turned out to be too low for the bank that opened the center. BBVA Compass announced in November 2011 plans to open a mortgage operations center in the Phoenix-suburb of Tempe, Ariz. At the time, the [...] Related posts: CA Firm Acquires FHA Le […]
• LOS Provider Acquiring Servicing Tech Firm May 16, 2012
  A company that provides loan origination system technology to mid-tier lenders is acquiring the same company that it was once owned by. LOS-provider Mortgage Builder announced Tuesday an agreement to acquire GCC Servicing Systems. GCC’s G/Serv is a mortgage servicing software that is popular with mid-tier lenders, community banks and credit unions, according […]
• Seasonal Slump for CRE Loan Originations May 16, 2012
  Compared to the final three months of last year, quarterly commercial mortgage originations fell an estimated $6 billion — though the decline was seasonal. Health care properties, industrial properties and agency originations saw the biggest declines. Volume was better, however, than a year earlier — with banks, retail properties and health care properties l […]
• 4 Months of Improvement in Serious Delinquency May 16, 2012
  First-mortgage delinquency improved for the fourth month in a row and stands at its lowest level since before the financial crisis. It’s a similar story for second liens. The 90-day delinquency rate on first mortgages finished April 12 basis points lower than in March. It was the fourth consecutive month that 90-day delinquency improved and the [...] Related […]
• Quicken Correspondent Unit Reports Huge Growth May 16, 2012
  A relatively new division of Quicken Loans Inc. that provides production services to financial institutions is reporting "explosive growth." The unit is in heavy recruitment mode. Quicken Loans Mortgage Services was launched in 2010 to provide mortgage fulfillment services to community banks and credit unions. The operation does the loan processing […]
• Mortgage Rates Hold Steady At All Time Lows May 15, 2012
  Posted To: Mortgage Rate WatchMortgage Rates paused their recent trend of moderate improvement today to hold steady near all-time lows. Despite an abundance of domestic economic data out this morning, r ates continue to be indirectly fueled by political and economic turmoil in the Euro-zone. After failing to form a new government, Greece today announced it w […]
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• Foreclosure Buying 101 Slideshow May 15, 2012
  About once a month I have the pleasure of hosting a webinar for RealtyTrac users called Foreclosure Buying 101. Here are the slides used in the webinar, along with a link to view a recording. Source:Foreclosure Buying 101 Slideshow Related posts: Slideshow: Finding & Buying the Best Bank-Owned Bargains This slideshow from a webinar co-hosted by RealtyTra […]
• Quantum Leap for Nationstar May 15, 2012
  With the planned acquisition of assets from bankrupt Residential Capital LLC, Nationstar Mortgage Holdings Inc. expects to become one of the industry’s biggest non-bank mortgage firms. ResCap and 27 affiliates disclosed Monday that voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code were filed Monday. Lewisville, Texas-based Nationsta […]
• Stearns Reports Strong Production May 15, 2012
  Stearns Lending Inc. outperformed the industry as a whole during the first three months of this year and hopes to improve its market share further with the addition of a seasoned mortgage lending executive. The Santa Ana, Calif.-based company reported that first-quarter originations were slightly better than the volume funded in the fourth-quarter 2011. The […]
• Mortgage Insurer Consolidating May 15, 2012
  A mortgage insurance company operating from North Carolina is being spun off and consolidated with its sister companies. Republic Mortgage Insurance Co. was suspended as an approved mortgage insurer of Fannie Mae in July 2011. The Winston-Salem-based company stopped writing new policies in August 2011, and it was placed under the supervision of the North Car […]