Lender Processing Services, Inc. introduced the web-based Workout Interaction Tool (WIT), which provides data from its MSP servicing system to and from Fannie Mae's Servicing Management Default Underwriter (SMDU) platform.
Read More »FNC Price Index Rises in March for 13th Straight Month
The latest Residential Price Index (RPI) from FNC, Inc., shows home price gains continuing in March for the 13th straight month. The index, which is based on recorded sales of non-distressed properties in the nation's 100 largest metros, rose 0.4 percent month-over-month in March and 5.5 percent year-over-year. On a quarterly basis, prices were up 0.7 percent from Q4 2012 and 5.7 percent from Q1 2012 as of the end of March, FNC reported. As usual, growth was more accelerated in the smaller 30- and 10-metro indexes.
Read More »Another Bank Collapses, Total Up to 13
FDIC announced Tuesday the closure of Central Arizona Bank (Scottsdale) by the Arizona Department of Financial Institutions. To protect depositors of the failed bank, FDIC entered into a purchase and assumption agreement with Western State Bank (Devils Lake, North Dakota).
Read More »Total Mortgage Services Launches Redesigned Website
In Connecticut, Total Mortgage Services, LLC announced the launch of its new and improved website offering users with a dynamic browsing experience across all devices.
Read More »Closing Rates Fall in April as Purchase Loans Gain Greater Share
According to Ellie Mae's findings, purchase loans made up 42 percent of loans closed in April, up from 38 percent in March, while refinances represented 58 percent. According to Ellie Mae president and COO Jonathan Corr, the last time purchase loans broke the 40 percent mark was July 2012. Among purchase loans, the closing rate was about 58.2 percent, while the rate for refinances was 50.5 percent. The overall closing rate for loans analyzed in the sample was 53.2 percent, a pull back from March.
Read More »Nationwide Title Clearing Covers Lien Release in New White Paper
Nationwide Title Clearing, Inc., a Florida-based post-closing services provider for the residential mortgage industry, released a new white paper outlining the ten hottest issues servicers must consider when undertaking the lien release.
Read More »Ally Reaches Settlement with ResCap Creditors
Ally Financial Inc. announced an agreement that settles any existing and potential claims from Residential Capital--its bankrupt mortgage subsidiary--and ResCap creditors, according to an announcement Tuesday.
Read More »CoreLogic Analyzes Geography of New Home Sales Rebound
New home sales have seen a slow recovery since reaching a trough in 2011, but the recent pickup demonstrates how underlying economic fundamentals are improving.
Read More »Home Tour Network Expands into Atlanta
The Home Tour Network--a division of Realbiz Media Group, Inc.--announced the expansion of its video on demand real estate network into the greater Atlanta area.
Read More »Mortgage Capital Management Gains New National Sales Director
In San Diego, Mortgage Capital Management (MCM) announced the hiring of Robert Satnick as national sales director.
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