Applications for home purchases and mortgage refinances both declined last week, despite a 10 basis point decline in interest rates, according to the Weekly Applications Survey issued by the Mortgage Bankers Association (MBA) on Wednesday.
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The number of bank-owned property sales in Connecticut has jumped significantly, according to The Warren Group, which provides real estate data for the entire New England region. The research firm said REOs represent nearly 6 percent of the state’s single-family home sales so far in 2009, compared to just 1 percent last year.
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Irvine, California-based Homeowner Toolbox Inc. is helping homeowners wade through the complexities of the loan modification process and showing them how to avoid the roadblocks that prevent consumers from getting a modification.
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On Tuesday, Jacksonville, Florida-based Lender Processing Services, Inc. (LPS) announced the formation of the LPS Real Estate Group. The new division was created as a result of the company’s acquisition and rebranding of the businesses comprising FNRES Holdings, Inc.
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US Real Estate Services Inc. (USRES), a national provider of REO management services headquartered in Lake Forest, California, has announced the launch and immediate availability of a new service – USRES Property Management.
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Cleveland’s Safeguard Properties was among 96 Northeast Ohio companies honored at the 2009 Crain’s Leading EDGE Awards at Kent State University in May.
In its third year, this prestigious award was created and developed by The Entrepreneurs EDGE, a non-profit organization that provides services, programs, education, civic and networking opportunities to mid-market companies to help them grow in value.
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Loan modifications made by mortgage lenders and servicers spiked during the first quarter of the year, according to a report issued Tuesday by the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS).
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New York-based Cantor Fitzgerald, a global financial services firm, recently announced the launch of a new whole loans real estate division and the hiring of two securities and mortgage industry veterans as whole loan specialists within its Debt Capital Markets group.
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Freddie Mac’s total mortgage portfolio decreased at an annualized rate of 1.6 percent in May, while sister company Fannie Mae reported its portfolio grew by 35.1 percent.
Freddie’s portfolio now stands at $823.
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Philadelphia-based Radian Guaranty Inc. , a provider of private mortgage insurance and related risk management products to lenders nationwide, has launched a new program that the company says will help borrowers qualify for traditional refinances on loans not currently serviced by their present lender – even with today’s declining home process and tighter lending standards.
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Attorneys Michelle Garcia Gilbert and Amy McGrotty have launched a new law firm specializing in the areas of mortgage default, loss mitigation, real estate litigation, evictions, bankruptcy, and REO closings throughout the state of Florida.
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Much controversy has surfaced regarding the role and effect of appraisal management companies (AMCs) in the wake of the GSEs’ new Home Valuation Code of Conduct (HVCC).
Just last week, lawmakers in the House introduced legislation that would suspend HVCC for 18 months, so that concerns over its effectiveness could be addressed.
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The mortgage default servicing law firm of Martin, Leigh, Laws & Fritzlen, PC (MLL&F) and its subsidiary Mokan Title Services, LLC, both headquartered in Kansas City, Missouri, recently announced that the companies presented a check in the amount of $5,000 to Harvesters Community Food Network, a local charity food bank.
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First American Valuation and Property Solutions, the Dallas-based branch of First American Corporation that provides residential property valuations, inspections, and preservation services, announced on Tuesday the availability of a new Property Listing Verification report.
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Jacksonville, Florida-based Lender Processing Services (LPS) says foreclosure starts have increased to their second highest level since the company began keeping records in 1992. LPS released its June Mortgage Monitor Report last week, which provides mortgage industry performance indicators based on data collected as of May 31.
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Five more regional banks – two in California, two in Georgia, and one in Minnesota – were closed by regulators on Friday. These latest failures bring the total number of shuttered financial institutions in 2009 to 45.
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Government officials joined forces with local leaders in Miami on Friday to kick off a nationwide campaign to promote the federal Making Home Affordable program and the options available to struggling homeowners.
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The mortgage default law firm of Potestivo & Associates P.C., based in Rochester Hills, Michigan, announced last week that the firm exceeded its fund-raising goal for the American Cancer Society’s signature event, Relay for Life.
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David Keaton has been hired as a regional representative for Trust Title Company, a national provider of title and settlement services. In this position, Keaton will be responsible for building and managing Trust Title’s relationships with Central Floridian financial services firms to expand the services and support available for their residential, commercial, and construction loan portfolios.
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Phoenix-area Realtor Jason Hall has launched a new Online Home Bidding service that he says will make selling real estate in the foreclosure-ravaged metro easier. The portal allows potential homebuyers to seek out Phoenix properties – including foreclosures and bank owned properties – from anywhere that has an Internet connection, submit a bid of interest, and then start taking the steps to buy a home.
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