Dallas, Texas-based Barrett, Burke, Wilson, Castle, Daffin & Frappier, LLP, is announcing some major changes—one of which is the official change of the law firm’s name to Barrett, Daffin, Frappier, Turner & Engel, LLP.
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Atlanta, Georgia-based Beazer Homes USA Inc., said Friday that the builder is exiting the mortgage origination business and no longer issuing loans through Beazer Mortgage Corp.
Instead, Beazer says it will form a strategic relationship with Countrywide Financial Corp.
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Lewisville, Texas-based EMC Mortgage Corp., a subsidiary of The Bear Stearns Companies Inc. and a company that provides servicing on residential mortgage loans, recently promoted Dana Dillard to the post of executive vice president of the office of the customer and Lloyd Farnam to the position of senior vice president within the Human Resources Division.
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The Dallas, Texas-based law firm of Barrett, Burke, Wilson, Castle, Daffin & Frappier, LLP., announced this week that attorney Michael Barrett has been elected to membership in the Fellows of the Texas Bar Foundation.
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The law firm of Hutchens, Senter & Britton, P.A., announced recently that two of its attorneys—H. Terry Hutchens and Rebecca J. Britton—have been named to the 2008 Super Lawyers® list.
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Merrill Lynch & Co. is facing an investigation spearheaded by Massachusetts Secretary William Galvin in which Galvin accuses the company of selling risky subprime mortgage securities to the city of Springfield, according to a report filed by Reuters news agency.
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A new survey conducted by government-sponsored enterprise Freddie Mac and the Roper Public Affairs and Media institution says 57-percent of adult homeowners are still unaware of the many loss mitigation options available to them in today’s mortgage marketplace.
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Robert Steel, the U.S. Treasury Under Secretary for Domestic Finance, told a U.S. Senate committee on Banking, Housing and Urban Affairs this week that the mortgage industry helped 370,000 homeowners in the second half of 2007, according to data provided by the HOPE NOW Alliance—a program made up of government agencies, foreclosure prevention platforms and mortgage servicers who are trying to prevent foreclosures nationwide.
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Jacksonville, Florida-based Fidelity National Information Services has been named in a Houston lawsuit filed by two Chapter 13 debtors, and all other debtors, who allege the giant processor of financial and mortgage-related services tacked on hidden legal fees while serving as an intermediary between the debtors’ mortgage servicing companies and the law firms appearing in court on the creditors’ behalf.
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Pleasanton, California-based Ellie Mae has released new editions to its Encompass Banker and Encompass Custom programs, which are both part of the company’s Encompass Mortgage Management Solution.
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The U.S. Senate Finance Committee passed the Senate’s much-anticipated economic stimulus package this week with provisions that will increase the cap amounts on who is eligible for rebates and with benefits that include seniors with little earned income and disabled veterans who are not required to file tax returns.
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Reno, Nevada-based InsideValuation, a real estate valuation provider, has introduced a new technology portal that is designed to expedite the turnaround time on valuation reports. The firm says its new technology is able to automate non-critical points in the valuation process and reduce delivery time.
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Fannie Mae chief executive officer Daniel Mudd said in a speech this week that his company is back on track when it comes to its ability to file timely reports with government regulators. And in terms of the housing market, he said while it remains positive on many fronts, he expects the industry is not in a steady environment and there are still many knowns and unknowns to be aware of.
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Washington, D.C.-based NeighborWorks America, a nonprofit that runs a foreclosure hotline supported by the Homeownership Preservation Foundation, announced today that its foreclosure prevention hotline—888-995-HOPE—has assisted more than 200,000 homeowners since June 25, 2007.
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It’s a much-discussed subject in the mortgage lending industry: Can lenders effectively save borrowers through internal loss mitigation programs if the companies behind those measures are not required to report their home retention strategies and success rates to public officialsx
At least that’s the question California Assemblyman Ted Lieu (D-Torrance) has been asking for a few weeks—and now he has the passage of a bill within the state assembly as assurance that perhaps his state will eventually require lenders and servicers to report loss mitigation results publicly.
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Foreclosure activity— a measure of the actual number of foreclosure filings reported on every distressed property in a given year—jumped 75-percent in 2007 when compared to the previous year, according to RealtyTrac’s latest Foreclosure Market Report.
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Indiana resident and HOPE NOW Alliance participant Lori Ball remembers all too well what life was like for her family a few short months ago. In those months, Lori and her husband, Carey Ball, were at-risk of losing their home to foreclosure, and their only lifeline seemed to be a speech Lori heard President George W.
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The Federal Bureau of Investigations (FBI) confirmed Tuesday that its economic crimes unit is continuing its probe into 14 companies to answer questions related to possible valuation issues, inaccuracies and accounting practices that are related to subprime lending.
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Lewisville, Texas-based EMC Mortgage Corp., a subsidiary of The Bear Stearns Companies Inc. and a mortgage banking company specializing in residential mortgage loan servicing, has promoted Chris Alcedo to the position of senior vice president of Asset Liquidation in the Customer Relations Division.
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With additional regulatory changes expected in the mortgage banking industry, Orlando-Florida-based Integrated Mortgage Solutions (IMS) has named Kathy Sutton to the position of risk and compliance officer.
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