In an effort to help detect occupancy issues related to mortgage fraud, California-based Interthinx has enhanced its flagship FraudGUARD product. These changes come in response to a disturbing trend the company uncovered in its quarterly fraud risk report, showing a 16 percent increase in fraud risk associated with occupancy status.
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Colliers International, a global real estate services company headquartered in Boston, recently secured the No. 2 spot in the annual Lipsey Survey of the top 25 brands in the commercial real estate industry. The firm jumped a notch from its third place position, which it has held since 2004.
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GMAC Financial Services has auctioned off $250 million of problem mortgage assets, using Citigroup Inc. as its broker on the deal, according to a report from American Banker. GMAC reported in February that its $5 billion loss during the final months of last year was largely the result of legacy assets in its mortgage operations. A regulatory filing by the company this week also revealed that its CFO, Robert Hull, has resigned, effective at the end of this month.
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New York-based Lend America and its senior-level strategist and VP, Michael Ashley, have been permanently banned from doing business for the Federal Housing Administration, according to recently released court documents. Ashley helped build Lend America into one of the most lucrative FHA loan producers, but federal attorneys say all the while he's been in violation of an earlier industry ban, when he plead guilty to wire fraud conspiracy in 1993.
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Keller Williams Realty, an Austin, Texas-based real estate franchise operation, recently announced the launch of Keller Williams Southern Arizona. This new operation, formerly with Realty Executives, includes seven offices with more than 375 real estate agents and staff.
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Fairway Independent Mortgage Corporation reported this week that it more than doubled its mortgage sales in New England in 2009. Mortgage loan volume for the company's New England offices grew from $295 million in 2008 to $720 million in 2009 - a 244 percent increase.
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On Wednesday, the National Association of Realtors (NAR) and DocuSign unveiled the DocuSign Realtor Edition, an exclusive online eSignature service designed specifically for Realtors. The new Realtor Edition allows NAR members to electronically sign agreements with buyers and sellers, which saves Realtors time and provides client convenience.
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Lender Processing Services, Inc. (LPS) recently announced that its LPS Auction Solutions division will conduct an online auction of foreclosed homes from the hard-hit states of Arizona, California, and Nevada.
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Economists believe the nation's subprime mortgage meltdown and foreclosure crisis will continue to worsen unless innovative thinking reinvents the system. RebuildUS LLC says it's operating under precisely this premise by bypassing the banks and auctions to move Americans back into affordable homeownership through its newly-launched online foreclosure marketplace.
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Foreclosures continue to drive down home prices in hard-hit states like Michigan, but according to the auction company Hudson & Marshall of Texas, this is good news for buyers and investors looking for bargains on homes.
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