The Mortgage Bankers Association (MBA) sent a proposal to House and Senate leaders last week calling for the establishment of a new federal regulatory framework for mortgage lending that the association says would better protect borrowers nationwide.
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Seattle-based Zillow announced on Wednesday plans to launch co-branded real estate Web sites with 180 newspapers nationwide.
The Tampa Tribune and 100 newspapers published by Community Newspaper Holdings, Inc.
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The Mortgage Bankers Association (MBA) today released its Mortgage Applications Survey for the week ending March 27, 2009, which shows that refinance activity is continuing to dominate home loan applications as struggling homeowners across the country take advantage of record-low interest rates.
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Minneapolis, Minnesota-based Wolters Kluwer Financial Services announced last week that the company is expanding the reach of its CompliSource solution to the community banking marketplace. The tool, which was previously only available to larger lenders, now offers community banks a means for managing state and federal compliance law governing consumer finance, indirect lending, and mortgage lending.
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On Wednesday, online foreclosure marketplace RealtyTrac announced the launch of RealtyTrac Renter Alerts. The new monitoring service gives tenants advance notice if their landlord defaults on the mortgage and the property they are renting is about to be foreclosed and repossessed by the lender.
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ProVest LLC, a national process server management company for the default servicing industry, announced on Tuesday the formation of the Ohio Professional Process Servers Association (Oppsa) by ProVest VP Paula Ashcraft.
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The new year didn’t change the downward spiral of residential real estate prices, according to the home price data released on Tuesday by Standard & Poor’s (S&P).
Data through January 2009 from the S&P/Case-Shiller Home Price Indices, reveals continued broad-based declines in the values of existing single family homes across the United States, with 13 of the 20 metro areas tracked showing record rates of annual decline, and 14 reporting declines in excess of 10 percent.
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Over the past several weeks, New York’s JP Morgan Chase has opened the doors to 24 loan modification centers across the country, setting up shop in some of the cities hardest hit by the nation’s sweeping foreclosure crisis.
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Fairfax, Virginia-based CGI Group Inc., a provider of information technology and business process services, announced on Tuesday the launch of a collections microsite focused on helping banks turn rising delinquencies into recoveries.
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HOPE NOW announced on Monday that its members and the larger mortgage lending industry modified 134,000 home loans in February that were in danger of foreclosure, a nine percent increase over the number of mortgages modified in January.
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Freddie Mac is now offering Reverse REMIC Giant PC securities – a new mortgage-related security intended to provide additional liquidity to the U.S. residential mortgage market and give new options to investors.
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Brookfield, Wisconsin-based Fiserv, Inc. announced today that Lance Drummond will join the company on April 6th as EVP. In this new role, Drummond will lead strategic growth initiatives to accelerate the development of certain business line extensions at Fiserv, including data analytics, consulting, and wealth management.
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Fewer Bay State properties were foreclosed on in February compared to the prior month and a year earlier, according to a new report released Tuesday by Boston-based The Warren Group. Still, despite this flicker of positive news for the Massachusetts housing market, the number of foreclosures initiated by lenders climbed again for the fourth consecutive month.
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Industry veteran Shelley Kaye has joined InSource Financial Services, LLC as a portfolio acquisitions specialist. In this position, Kaye will manage the firm’s bulk sale purchases of REO properties.
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Single-family home prices in Connecticut tumbled 17.1 percent in February compared to the same month in 2008, according to a report released today by The Warren Group, a provider of real estate data for the New England area.
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Cities across the country say they are seeing a disturbing new practice when it comes to foreclosures – more and more, banks are opting not to take possession of foreclosed properties because the costs of maintenance, repairs, and legal fees outweigh the still-declining value of the property.
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The FDIC announced last week that it is seeking public comment on its Legacy Loans Program (LLP). The FDIC and the Department of the Treasury unveiled the LLP last Monday as part of the administration’s Public-Private Investment Program (PPIP).
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Omni National Bank, in Atlanta, Georgia, was closed on Friday by the Office of the Comptroller of the Currency (OCC). Omni National is the 21st bank to fail this year and the fourth to go under in Georgia.
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An alliance of Florida consumers, lenders, realtors, and builders said on Friday that they will aggressively petition state leaders to allow first-time home buyers to use the new $8,000 federal tax credit as upfront cash for a down payment – a move they say would spur Florida’s sluggish housing market and stimulate the state’s lagging economy.
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President Barack Obama announced three new nominations for posts at the Department of Treasury over the weekend. He has selected Michael S. Barr as assistant secretary for financial institutions; Helen Elizabeth Garrett for assistant secretary of tax policy; and George W.
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