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Churchill Snags Second Place Honors

The Nashville Business Journal has honored Churchill Mortgage within its annual list of the top 25 Fastest-Growing Companies. Ranking second on the prestigious roster, Churchill's programs offering traditional, FHA, and VA residential loans secured the company's strong placement.

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BancorpSouth Announces Cowsert’s Replacement

A new executive vice president has been announced at BancorpSouth, Inc., with the appointment of James Ronald Hodges to the position. Hodges' ascension to the role follows the company's previously planned retirement of W. Gregg Cowsert after 21 years of service to BancorpSouth.

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Analysts: Mortgage Rates Stay Low, Likely to Fall Further

Debt crises and stimulus measures stole the mortgage-rates show as more investors flee to U.S. Treasury debt, with mortgage giant Freddie Mac holding that rates dithered by a few percentage rates and finance Web site Bankrate.com finding a fifth-consecutive week for record lows. Homebuyers nonetheless remain on the sidelines despite all-time highs for affordability, reflecting a dearth in demand, confidence, and jobs. Analysts fault a dismal economy and suggest that mortgage rates will remain low.

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CRBC Gets Government Appointed Board Member

Citizens Republic Bancorp, Inc, has a new board member with the addition of William M. Fenimore Jr. Elected to CRBC├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós board of directors by the U.S. Department of Treasury, Fenimore├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós appointment was conducted in conjunction with the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós participation in the Treasury├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Capital Purchase Program.Citizens Republic Bancorp, Inc, has a new board member with the addition of William M. Fenimore Jr. Elected to CRBC's board of directors by the U.S. Department of Treasury, Fenimore's appointment was conducted in conjunction with the company's participation in the Treasury's Capital Purchase Program.

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Veros and JVI Rolling Out New Product

VeroINSIGHT has lift off, with Veros Real Estate Solutions and JVI Solutions LLC recently announcing the arrival of the new, collaborative product. Targeting property condition reports and regulation compliance, the company's latest technology launch is good news for those conducting collateral evaluations.

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Multifamily Debt Outstanding Goes Up, Alongside Renter Interest

With single-family home sales lagging and more households struggling with debt issues, the Mortgage Bankers Association alleviated few concerns about the industry with news Thursday that mortgage debt outstanding for commercial and multifamily properties rose half a percentage point to hit $2.4 trillion over the second quarter this year. Multifamily mortgage originations are typically those used to finance new rental purchases. The trade group signaled a roughly $4-billion thrust upward in debt outstanding for both loans.

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Dodd-Frank Cheered, Jeered, as Moody’s Downgrades Big Banks

In a surprise move, Moody's Investors Service slashed credit ratings for mortgage giants Bank of America, Citigroup, and Wells Fargo Wednesday afternoon, citing concerns that the federal government may not rush to pick up their remains and bail out the institutions in another liquidity crisis. Critics and advocates of the Dodd-Frank Act used the downgrades to alternately justify the legislation or undermine it in the national square. The downgrades arrive amid a slew of bad times for the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós largest mortgage lenders.

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Economists: Fed Buy-Up Will Do Little for Housing

Fed

Federal Reserve Chairman Ben Bernanke again made waves Wednesday with an announcement that the central bank plans to sell $400 billion in short-term Treasuries to keep a heel on still-low interest rates and offset widespread fears that the U.S. economy may soon enter a downturn. The move follows successive efforts from the Fed, which more recently pledged to keep interest rates low until 2013. Speaking with MReport, economists largely panned the effort.

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Credit Union Turning to Technology

Digital Federal Credit Union (DCU) is enhancing its technology platforms with the help of LenderLive Network Inc. With the use of LenderLive's loan fulfillment program, DCU will now have improved processing, underwriting, and closing procedures. DCU, the largest credit union in New England, serves clients in all states nationwide, and the company cites rising demand as the chief catalyst behind selecting the new software initiative.

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Mortgage Applications Tick Up 0.6% on Low Rates

application

Mortgage application volume crept up from last week, with refinancing activity leaping ahead of purchases, according to a weekly survey by the Mortgage Bankers Association. Stacks of applications around the nation thickened by less than 1 percent from the previous week, largely as a result of climbing mortgage rates. The Weekly Mortgage Applications Survey, a measure of total application volume by the trade group, pulled together several indices that reflect volume.

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