Headlines

Federal Deposit Insurance Corporation (FDIC) Director Jeremiah O. Norton has resigned from that position effective June 5, according to an announcement from the FDIC. Norton has served as FDIC director since April 2012.

The Bureau of Labor Statistics (BLS) released their “Employment Situation—April 2015” report today, showing that the total number of non-farm payroll employment has increased by 223,000 in April, while the unemployment rate remained unchanged from the previous month at 5.4 percent.

International Document Services (IDS) Inc., a mortgage document preparation vendor, recently announced the internal promotion of their former EVP Mark Mackey to CEO for the company. IDS is a nationwide provider of mortgage documents and compliance. Their services include closing documents, initial disclosures, and fulfillment. The company was founded in 1986 in Salt Lake City, Utah.

ACES Risk Management (ARMCO) has hired mortgage quality control expert Phil McCall as its new COO. ARMCO provides Web-based audit technology as well as data and analytics to ...

Mortgage Guaranty Insurance Corporation (MGIC), principal subsidiary of MGIC Investment Corporation has selected Stephen Mackey to be EVP-Chief Risk Officer. Mackey will be stepping in to take newly retired Lawrence Pierzchalski’s place and will begin in his new position in late June.

Essent Group Ltd. more than doubled their net income for Q1. According to data released by the company, the net income for Q1 2015 was $38.4 million or $0.38 per diluted share, compared to $15 million or $0.18 per diluted share for Q1 2014.

Speaking at the Greenlining Institute 22nd Annual Economic Summit, Watt announced a one-year extension of the government's two affordable housing programs, which began in 2009 in response to the housing crisis. HARP was set to expire at the end of this year, while HAMP was extended last July until the end of 2016.

Mid America Mortgage, Inc., based in the Dallas suburb of Addison, Texas, has announced the hiring of Adam Rieke as director of national TPO lending. Rieke's 23-year career in the mortgage lending arena includes managing several highly profitable wholesale lending operations. In his new role at Mid America, Rieke will focus on the TPO lending sector.

Torrance, California based DocMagic, Inc. announced that it has completed all required TILA-RESPA Integrated Disclosure rule (TRID) software development and testing so that the company’s clients and LOS vendors can now take advantage of these enhancements and ensure they are prepared for the August 1 TRID deadline.

In their “Eye on Housing” blog, the National Association of Builders (NAHB) broke down the findings of the April 2015 Senior Loan Officer Opinion Survey (SLOOS), conducted by the Federal Reserve Board. In the survey, banks were asked questions that attempted to judge how they were responding to GSE guidelines issued on November 20, 2014 on life-of-loan representation and warranty exclusions.