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Despite Decline in Fraud Levels, Some States Still Suffer

Fraud

In its 15th Annual Mortgage Fraud Report, LexisNexis Risk Solutions put a spotlight on three economic indicators: mortgage fraud and misrepresentation involving industry professionals, potential collusion activity, and volume of properties in default. Looking at mortgage loan fraud levels, researchers at LexisNexis determined that most states have seen fraud fall to normal levels since 2008, though the fallout from prior years continues to build.

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Report: 2.5M Homes Return to Positive Equity in Q2

The number of mortgaged residential properties with negative equity fell more than five percentage points throughout the year's second quarter, CoreLogic reported Tuesday. According to the company's analysis, approximately 2.5 million residential properties returned to a state of positive equity last quarter, bringing the total number to 41.5 million. Meanwhile, 7.1 million homes--or 14.5 percent of all residential properties with a mortgage--were still in negative equity.

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loanDepot, imortgage to Unite

loanDepot.com, LLC and imortgage.com, Inc., have entered into a definitive agreement to combine, creating the nation's third-largest private, independent retail mortgage lender.

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WL Ross Vice Chair Talks Shop on GSEs and Housing Lessons

James B. Lockhart III, vice chairman of WL Ross & Co. and former director of the Federal Housing Finance Agency, addressed a packed house at the inaugural Investment Symposium at the 10th Annual Five Star Conference and Expo. Lockhart's speech wound through many of today's biggest topics, including the current movement to dissolve the GSEs. He also praised Federal Reserve chair Ben Bernanke's leadership during the crisis, saying Bernanke's efforts to move the economy have been largely successful.

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Norcom Opens Fairfield Branch, Names Manager

Having been approved in August, Norcom Mortgage's Fairfield, Connecticut, branch is open for business, the company announced. The Fairfield branch will take direction from Manny Gomes, a resident of the area since graduating from Southern Connecticut State University in 2006.

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