Data

Mortgage applications increased 11.7 percent for the week ending January 4, with refinances rising 12 percent and purchase applications up 10 percent.

After some consideration, the board of American International Group (AIG) announced Wednesday the company will not be joining in a lawsuit brought by one of its former executives against the U.S. government. The New York Times first reported Monday that AIG's board was mulling over its options regarding a $25 billion lawsuit filed by Starr International Company on behalf of AIG shareholders and spearheaded by former AIG CEO Maurice "Hank" Greenberg (now the CEO of Starr).

Residential Finance Corporation announced it has brought senior industry executive Nick G. Hahn on board to serve as CFO. Hahn is a 30-year banking and financial services industry vet, having worked most recently as CFO at Capitol Bancorp Limited.

Fitch Ratings anticipates the CFPB's QM announcement will finally allow banks to assess the costs of re-entering the securitization market.

Rekon Technologies announced the promotion of Jim Su to VP of software development. In his new role, Su is charged with overseeing the technology operations of Rekon's software programmers and managing the company's quality assurance team.

CoesterVMS announced that as of January 1, it has implemented the first flat fee model for residential appraisals. Through the new model, all conventional appraisals are priced at $450 while appraisals are $475. The Rockville, Maryland-based appraisal management company (AMC) explained a tiered fee structure is generally utilized, which determines prices based on the property type or location.

Two of the nation's independent appraisal management companies have joined forces, turning Solidifi into the third-largest residential real estate valuations firm in the U.S. Releasing an official statement, Solidifi announced that it had completed a consolidation deal with Kirchmeyer & Associates as part of the growth strategy the company initiated in 2012.

According to one mortgage lender, we can expect declining originations, rising interest rates, and fewer mortgage professionals.

The lending division of Carrington Mortgage Services, LLC is expecting serious company growth in 2013--and it starts with new offices in Indiana and Connecticut, the company announced. The two new operations centers (located in Fishers, Indiana, and Enfield, Connecticut) will be dedicated to serving the East Coast from both the retail and wholesale lending perspective.

Mortgage Harmony Corp., a Virginia-based provider of innovative residential loan products, and LenderLive Network, Inc., announced an alliance to enhance market awareness of Mortgage Harmony's HarmonyLoan product.