Headlines

Mid America Mortgage, Inc. (Mid America) owner and CEO Jeff Bode announced in a recent press release that the lender has hired David Tracy, former Fannie Mae underwriting consultant as its national underwriting manager. Tracy has over 20 years of residential and commercial mortgage experience and will be responsible for revitalizing Mid America’s underwriting operations nationwide.

The CEO of Invictus Capital Partners, Michael W. Warden, recently announced that Carl D. Bell, CFA, has been hired at the firm as a managing director and co-head of investments. Invictus is an employee-owned institutional alternative asset manager founded in 2008 that focuses on opportunistic credit strategies.

CoStar, a research organization, reported that single family rental (SFR) property acquisition is geographically shifting as home prices stabilize and credit conditions ease. Investors have also become more selective in which properties to buy and are more focused on managing their properties, collecting rents, and improving operations.

Global property information, analytics and data-enabled services provider CoreLogic, Inc. recently released its 2015 Storm Surge Analysis which found that more than 6.6 million homes on the Atlantic and Gulf coasts are at risk of hurricane storm surge damage. The total reconstruction cost value (RCV) is nearly $1.5 trillion for the storm surge damages.

Real estate and mortgage industry services provider Clayton Holdings has announced the hiring of Suzanne Singer as senior managing director of business development. Singer, who has a B.A. in Economics from The College of William and Mary, brings more than 20 years of experience in the mortgage industry to Clayton Holdings. Prior to coming to Clayton, she was the EVP of sales and marketing for Litigation Guard, a provider of mortgage-risk lending risk management tools and technology services.

In the wake of the recent storm disaster that swept through Texas and Oklahoma in late May, Freddie Mac, one of the largest investors in residential mortgages, announced today in a press release that it will provide disaster relief polices for eligible residents. These policies are being offered to homeowners whose home were damaged or destroyed due to the incessant storms that affected these areas.

The Mortgage Bankers Association (MBA) reported today in its quarterly Mortgage Bankers Performance Report that independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,447 on each loan they originated in Q1 2015, a sizable increase from a reported gain of $744 per loan in the Q4 2014.

According to a recent press release, CoreLogic, Inc., a leading global property information, analytics, and data-enabled services provider, announced that its nationwide building permit database has reached over 28 million residential, commercial, and industrial building permits. It also now tracks more than 35 permit types, covering 65 percent of the U.S. residential and commercial market.

Housing affordability is up nationwide due to low interest rates and home prices as National Homeownership Month begins in June, according to a recent release from the National Association of Home Builders (NAHB). The latest NAHB/Wells Fargo Housing Opportunity Index released in mid-May reports that about two-thirds of new and existing homes sold in the first quarter of 2015 were affordable to families that earned $65,800, which is the U.S. median yearly income.

Denver, Colorado-based end-to-end mortgage services provider LenderLive announced that it has acquired regulatory compliance solutions, full-cycle critical document fulfillment, and Certified Mail Automation provider Walz Group.