AllRegs, a company that provides the mortgage industry with a centralized repository of underwriting guidelines and product manuals, has announced the strategic purchase of Merit Matrix, a division of technology solutions provider Intraprise Solutions, Inc.
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The Chair of the Federal Deposit Insurance Corp. (FDIC) Sheila Bair believes the government can save certain borrowers trapped in unaffordable mortgages by implementing a loan program that would allow the homeowners to pay up to 20-percent of their principal, Bair said in an editorial published in the Financial Times.
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The federal funds rate has been lowered another 25-basis-points to 2-percent to help the U.S. deal with an economy that is feeling the pinch of energy and commodity prices, The Federal Open Market Committee said on Wednesday.
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A new report from the Bureau of Economic Analysis says America’s real gross domestic product (GDP) grew at a slight annual rate of 0.6-percent in the first quarter of 2008.
The Bureau concluded that the increase in real GDP in the first quarter primarily reflected positive contributions from
personal consumption expenditures (PCE) for services, private inventory investment, exports of goods and services, and federal government spending that were partly offset by negative contributions from residential fixed investment and PCE for durable goods.
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Attorneys representing creditors in the state of New Jersey should be advised that the New Jersey Office of Foreclosure, beginning on Thursday, May 1, 2008, will no longer accept or file a complaint unless the creditor’s attorney includes an assignment of mortgage into the plaintiff or the date that the loan was acquired by the plaintiff, according to attorneys who have been following the guideline adjustments.
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Lenders One Mortgage Cooperative, an association that serves as a national alliance for mortgage banking professionals, has hired Amy Klassen to oversee its training and development system%{=FONT-SIZE: 11pt; FONT-FAMILY: Arial,sans-serif; mso-bidi-font-size: 9.
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The Director of the Bureau of Consumer Protection for the Federal Trade Commission (FTC) told a U.S. Senate Committee this week that the FTC is currently investigating the advertising practices of dozens of mortgage companies, according to a transcript of the hearing.
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Richmond, Virginia-based LandAmerica Financial Group, Inc., reported this week that the company experienced a net income loss of $24.2 million during the first quarter of 2008, compared to earnings of $4.
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Bellevue, Washington-based trustee services provider Northwest Trustee Services announced the launch of a new and improved user friendly, Web site this week.
The company, which provides services to lenders working along the West coast, said it now boasts of a Web site that includes easy-to-navigate selections and fast and easy user-interactivy.
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Tampa, Florida-based Mortgage Contracting Services (MCS), a strategic provider of inspection and property preservation services, says an updated technology platform, new staff hires and restructuring helped the company grow significantly in the first quarter of this year.
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Irvine, California-based RealtyTrac, an online foreclosure marketplace, has released its Quarter One 2008 U.S. Foreclosure Market Report, which says foreclosure filings were issued against 649,917 properties during the first quarter—a 23-percent increase from the last quarter of 2007 and a 112-percent increase from the first quarter of last year.
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AmeriBid, a new platform that aims to help institutional investors find profitable and efficient exit strategies, has named Fran Weichsel, a former sales manager with Fannie Mae’s National Property Disposition Center (NPDC) to the newly-created position of vice president.
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New York City Comptroller William Thompson, Jr., reported on Tuesday that 3,129 citizens have called his Foreclosure Prevention Helpline in the past year to seek advice on preventing a looming foreclosure.
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President George W. Bush criticized Congress during a press briefing on Tuesday, saying the legislative branch has failed to pass legislation that would help combat escalating energy prices, record home foreclosures and soaring food expenses across the nation.
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Charlotte, North Carolina-based Bank of America) outlined the company’s strategic plan for preventing foreclosures within its mortgage lending portfolio on Monday—a strategy that coincides with the banking platform’s recent decision to acquire subprime lender Countrywide Financial Corp.
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Less-than-desirable news surfaced in the Bay State on Monday when real estate data publisher The Warren Group released new information showing home prices in Massachusetts fell 10-percent in March—the second steepest drop in The Warren Group’s history and the largest home price decline in the state since December of 1990.
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The Home Valuation Code of Conduct—a new proposal forged by the Office of Federal Housing Enterprise and Oversight) and the New York Attorney General’s Office—will be covered at the upcoming Eighth Annual Predictive Methods Conference, hosted by risk management and valuation services provider Veros Real Estate Solutions (Veros).
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New single family home sales plunged in March to a seasonally-adjusted annual rate of 526,000, which is 8.5-percent below the February sales rate (575,000 sales) and 36.6-percent below the March 2007 sales tally of 830,000 homes, according to a new report from the U.
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Waltham, Massachusetts-based Pro-Teck Services, a company that specializes in property valuation and risk management, has signed a strategic agreement with hosted IT services provider Rackspace® to support its ProValue platform—a strategy that will better assist Pro-Teck’s client base.
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McLean, Virginia-based Freddie Mac, a government-sponsored enterprise (GSE), announced Friday that Board member Shaun O’Malley will be retiring from the company’s Board of Directors in June.
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