Technology

In Pennsylvania, Brentwood Bank is launching a consumer-focused division targeting small to mid-sized businesses. The financial institution recently announced the addition of its Relationship Banking Unit, which will be dedicated to securing opportunities for the bank within the local business community. Through its new segment, Brentwood Bank will provide a relationship banker for borrowers and customers, ensuring that the same professional will handle the client's needs during the lifespan of the consumer's transactions.

Initiating a major expansion into four new regional markets, Caliber Funding LLC recently announced the hiring of more than 300 mortgage professionals. Caliber's personnel additions will serve to staff the company's operations in New England; the Great Lakes area; the Philadelphia, New Jersey, Delaware area; and greater Washington, D.C. Caliber's aggressive march into new markets will enhance its presence around the U.S., positioning Caliber for what the company hopes will be a pattern of significant growth during the year ahead.

Cornerstone Real Estate Advisors has named a new CEO for the company's European operations. The real estate investment group recently announced the appointment of Charles Weeks to the executive role.

A new CEO has been selected at Mortgage Returns. The company recently announced the appointment of co-founder Jim Blatt to the executive position.

Mortgage Guaranty Insurance Corp. has released its January statistics, as well as the company's projections for the year ahead. MGIC reported an estimated $1.3 billion in new insurance contracts for the month, and the company is predicting a minimal rise in contracts for 2012. Numbers from the fourth-quarter of 2011 show that MGIC handled around $4.2 billion in new contracts, and the company's new insurance total for the year was $14.2 billion. Data from 2011 shows a solid increase over 2010 findings, with MGIC reporting only $12.3 billion in new contracts for 2010. MGIC stated that it anticipates a slight uptick over 2011 statistics for this year.

Clarity Appraisal Management Company is upgrading its technological support, recently announcing it has selected ValuLink as the company's software platform provider. With the addition of ValuLink's system, Clarity AMC will benefit from a customized, cloud-based appraisal management program designed to facilitate enhanced business processes.

A new president and CEO has been selected by Oppenheimer Multifamily Housing and Healthcare Finance, Inc. The company recently announced the appointment of James J. Moore III to the leadership role.

The president of the St. Louis Federal Reserve Bank, James Bullard, made national headlines recently following his strong statements regarding the state of U.S. real estate. Among the revelations included in Bullard's February speech - the declaration that nation's housing markets have officially hit bottom. During his speaking engagement in Chicago, Bullard applied pressure to the Federal Open Market Committee, calling the group's decision to extend ultra-low interest rates until 2014 a looming disaster for the country. Bullard cited the decline in U.S. home prices and loss of wealth.

In Maryland, Maverick Funding Corp. is rolling out a new branch of its subsidiary, Reverse Mortgage Network. Recently announcing the addition of 40 reverse mortgage loan officers from within Baltimore-based Great Oak Funding, Maverick will conduct its expansion during the first two quarters of 2012.

Through its recent acquisition of property insurance company Crump Group Inc., BB&T Corporation has doubled its wholesale insurance business. Based in New Jersey, Crump is among the nation's leading providers of wholesale commercial insurance, as well as the largest independent wholesale distributor of life insurance in the U.S.