Tag Archives: Agents & Brokers

According to a study from the University of Virginia, property values could rise if banks provided lending services to the under-served, particularly minorities. The survey focused for the most part on Latino households in Virginia and North Carolina, documenting an array of variables affected by the presence of the Latino Community Credit Union. The study shows Latinos contributed $9.8 billion in property appreciation, representing nearly a 3.8 percent increase in property value for the counties in which the branches were located.

Kinecta Federal Credit Union released a statement Tuesday announcing that it will repackage HomePath mortgages from Fannie Mae with new incentives and financing terms, with additional incentives offered by the GSE that include revised closing costs and a selling bonus for agents.

Mortgage banker group Lenders One Mortgage Cooperative announced Tuesday that Susan Malpocker will helm national correspondent lending and mortgage product services as national sales director, with the hiring of Diane Dunger as regional manager of the Western region. According to the statement, Malpocker rose to her new position by previously serving as regional manager of Lenders One's western region. Prior to her new job, she oversaw services as national client manager, business development specialist and sales manager over the past 20 years with companies like Nexstar Financial Corp. and CitiMortgage. Her new position has the industry veteran heading up member recruitment and the coordination of overall membership services.

The National Association of Realtors released statistics showing a northerly thrust for commercial markets, as job growth and brightening spots in the U.S. economy contributed to a growing level of confidence.

Last week Churchill Mortgage released a statement announcing its expansion into the Houston market, marking a grab for the mortgage company with branches and services in 25 states.

Angling to get ahead of new fears that the U.S. market may veer off-track with European financial markets in a sovereign default scenario, several members of Congress released a statement Thursday that called for the implementation of the Dodd-Frank Act, citing the vulnerability of growth to changes in international derivatives markets. Recent news reports suggest added risk in the European financial and derivatives markets, which possible sovereign defaults may impact.

On Tuesday popular car insurance company Esurance announced a deal with Security First Insurance Company that allows the two to offer homeowners' insurance in Florida. The partnership arrives on the heels of a Quinnipiac University poll that held a resounding 63 percent of Floridians felt that property insurance is hard to come by, with about three-fourths of those agreeing on the inaccessibility of property insurance.

According to a recent report, Ginnie Mae issuers put up over $26 billion in mortgage-backed securities for sale on the secondary market over the course of May, reflecting a 4 percent overall decline from April. HUD released a report indicating the placement of 99.5 percent of FHA-insured loans and 97 percent of VA-backed loans in Ginnie Mae packages over the course of 2010, with an end-point in September. Ginnie Mae also securitized $770 million worth in FHA-insured reverse mortgages and $1.6 billion in multifamily loans over the course of May.

Home sales in Massachusetts fell by more than 25 percent over May in comparison with rates from the same month last year, while home prices shot up, interrupting a five-month-long trend, according to The Warren Group.

In a statement released Tuesday, national real estate brokerage firm "Atlantic & Pacific Real Estate, LLC announced that it made Robert Watson VP and regional manager of its network of real estate agents in California's Orange and San Diego counties. An accomplished broker in the Orange County area, Watson will help further agent and training education with the Atlantic & Pacific Advance U team. The statement held that the company considered Watson's experience with social networking technologies and information when it made the decision.