News

National Mortgage Insurance Corporation (National MI) is now approved to write mortgage insurance in 22 states, having recently gained approval in the key state of New York.

Walter Investment Management Corp. announced two definitive agreements Monday--one with Bank of America and another with MetLife Bank.

Business boomed at Quicken Loans in 2012, the Detroit-based company announced. Quicken closed more than $70 billion in home loan volume throughout 2012, a 133 percent increase over the previous record of $30 billion set in 2011. The company also nearly doubled its number of full-time team members over the year and now employs more than 8,000 in offices in Detroit, Cleveland, and Scottsdale, Arizona, including almost 900 technology-related positions.

In Houston, Texas, Envoy Mortgage is enhancing its loan product offerings to start the new year. Currently operating mortgage retail branches in nearly every U.S. state, Envoy's customers will now have access to an expanded range of Federal Housing Administration (FHA) 203(k) mortgages.

A home with a Hollywood past has hit the market in Minneapolis, Minnesota, for $2.895 million. Built at the turn of the century, the property was made famous in the 1970s thanks to its connection to The Mary Tyler Moore Show, on which the house's exterior was featured as the main character's abode.

Class Appraisal and a la mode announced the launch of a customized plugin designed to reduce appraisal turn times and ensure high appraisal quality.

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.