According to Platinum Data Solutions, a collateral valuation technology provider, more than 17 percent of appraisals on purchase transactions report a value less than that of the contract price. Platinum Data CEO Phil Huff said the findings point to two possibilities.
Read More »Arch MI Announces Integration with Ellie Mae’s Encompass
Private mortgage insurance provider Arch Mortgage Insurance Company is partnering with Ellie Mae to offer lenders a more streamlined mortgage insurance ordering process, the companies announced.
Read More »Profits Jump 87% at Morgan Stanley
Morgan Stanley's third quarter 2014 net revenues of $8.9 billion marked an increase from $8.0 billion from the same period a year ago, the investment bank reported in its Q3 2014 earnings statement released on Friday. Morgan Stanley's net income for Q3 2014, including discontinued operations, was reported at $1.7 billion.
Read More »Maryland Bank Closes in 15th Collapse of 2014
The Office of the Commissioner of Financial Regulation in Maryland shut down NBRS Financial, based in Rising Sun, appointing FDIC as receiver, according to dual releases from both agencies. The latest collapse follows a quiet period after what had been an active summer for FDIC. Last year, the agency announced 24 bank closings, 22 of which had already occurred by this time.
Read More »Nearly 500K Homeowners May Be Affected by Faulty Servicing Records
As the Consumer Financial Protection Bureau (CFPB) puts a more focused eye on mortgage servicing transfers, one document processing firm says faulty servicer database records could impact hundreds of thousands of homeowners across the country.
Read More »September Home Sales Beat 2013 Figure
Though September home sales were down 10.4 percent from August—an expected seasonal trend—September is the first month in 2014 in which home sales exceeded those one year prior, according to the latest National Housing Report from RE/MAX. The firm found that home sales last month were 0.9 percent higher than in September 2013, which is no small feat, considering that 2013 was marked by double-digit growth in home sales nationwide.
Read More »Mortgage Network Recruits Sales Leader for Southeast Region
Larry Gunnin, a mortgage industry veteran with more than three decades of experience, joined Mortgage Network Inc. as Southeast regional manager, the company announced.
Read More »First American Mortgage Solutions Approved as Freddie Mac Distributor
In California, First American Financial Corporation announced that its Mortgage Solutions group has been named a distributor of Freddie Mac's Home Value Suite.
Read More »Goldman Sachs Sees Boost in Profits
The Goldman Sachs Group, Inc. reported a third quarter net revenue of $8.39 billion and net earnings of $2.24 billion, according to the company's Q3 earnings statement released on Thursday.
Read More »DocMagic Acquires eSignSystems
DocMagic, Inc., a provider of compliant loan document preparation and eSign and eDelivery solutions, announced its acquisition of electronic software solutions firm eSignSystems from WAVE Systems Corp.
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