Total Mortgage Services, LLC, is seeking new talent to add to its wholesale residential lending channel, TMS Funding. The company recently announced that it would hire new account executives in more than 21 states and Washington, D.C., as part of its continued expansion.

NewDay Financial has a worthy reason to celebrate, with the announcement that it would receive a Corporate Partners award from the National Coalition for Homeless Veterans (NCHV). The company and its CEO, Rob Posner, is being honored for its strong provisional assistance to veterans in need of housing.

The American Credit Union Mortgage Association (ACUMA) has added a new member, with the incorporation of Equi-Trax Asset Solutions LP. Equi-Trax, a provider of borrower outreach programming and portfolio analytics, was recently accepted into the ACUMA, as part of the organization's continuing efforts to enhance its consumer assistance platforms.

Lender Processing Services Inc. has appointed a new president and CEO, with the hiring of Hugh R. Harris. Harris' role begins immediately, effective October 5, and he will also join the company's board of directors.

A former mortgage banking executive is moving on to the lucrative realm of technology based real estate initiatives. Elizabeth O'Brien, previously a director for Citigroup, Inc., was recently announced as the managing director and senior vice president of Auction.

Real estate investment trusts are making headlines again, on the news that the Federal Reserve will continue to drive long-term interest rates even lower. High yielding REIT stocks have dropped accordingly, and the REIT market, which thrives on borrowing at lower rates and lending in the mortgage marketplace at higher rates via the purchase of mortgage-backed securities, has struggled. Many industry analysts note that the segment's avoidance of any default risk should offset the instability caused by interest rate fluctuation.

The multifamily division of Prudential Mortgage Capital Company has a new addition to its team of originators, with the hiring of Kip Kimble. Prudential Mortgage, which functions as the commercial mortgage lending division of Prudential Financial, Inc., will install Kimble in its newly opened Boston, Massachusetts office.

Expanding its mortgage services, PHH Mortgage Corporation has announced the addition of five private clients, and the new financial institutions will gain access to the company's mortgage offerings through its Private Label Solutions division. PHH Mortgage, a subsidiary of PHH Corporation, will now provide end-to-end mortgage processing management to the PLS participants.

The U.S. Department of Agriculture Rural Development recently announced a new pilot program targeting reduced regulatory burdens for those developing affordable housing. In conjunction co-creators of the project, the U.S. Department of Housing and Urban Development, the initiative focuses on helping developers and individual owners, in addition to easing the way for state and federal agencies to serve low-income renters. The USDA-RD and HUD have approved a first draft of a Memorandum of Understanding.

The Federal Reserve has gone on record again regarding the current state of the U.S. economy. Chairman of the Fed, Ben Bernanke, spoke out recently confirming the organization's commitment to take whatever steps necessary should the nation's economic standing continue its slide. Noting the Fed's willingness to make non-traditional decisions and policy changes in light of the country's challenging economy, Bernanke emphasized efforts to fiercely monitor price trends during a speech in Cleveland, Ohio.