Tag Archives: Attorneys & Title Companies

The economy expanded at a modest to moderate pace from early April to the end of May the Federal Reserve reported Wednesday in its periodic Beige Book. The assessment reflected a weakening from the report in April when the expansion was characterized as moderate. Activity in the New York, Cleveland, Atlanta, Chicago, Kansas City, Dallas, and San Francisco Districts was described as moderate, while the Richmond, St. Louis, and Minneapolis Districts noted modest growth. Boston reported steady growth, and the Philadelphia District indicated that the pace of expansion had slowed slightly.

Giving homebuyers a new way to access property information, BluFi Lending has unveiled its Mobile Connect service. The direct lender's smartphone initiative will serve as a marketing and communications platform for those seeking details on the go while surveying a potential property.

First time claims for unemployment insurance fell to 377,000 for the week ended June 2, from the prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós upwardly revised 389,000, the Labor Department reported Thursday. Economists had expected the report would be show 379,000 initial claims. The drop in claims was the first in five weeks.

The Systemic Risk Council, a volunteer group led by former FDIC chair Sheila Bair, will meet in June to monitor and encourage regulatory reform of U.S. capital markets focused on systemic risk. The council, formed by CFA Institute and The Pew Charitable Trusts, is an assembly of experts in investments, capital markets, and securities regulation.

Interthinx has added a public policy expert to its leadership line up. The company recently announced the appointment of Sharee McKenzie Taylor as Interthinx's director of industry relations in Washington, D.C.

Citizens First Wholesale Mortgage Company has welcomed a new president. The Florida-based organization recently announced the appointment of Jonathan L. Woods to the executive role.

The Office of Mortgage Settlement Oversight continues to evolve as the monitor, a widely respected banking and housing finance chief, takes on new help from accounting and legal firms. Joseph A. Smith, Jr., onetime Federal Housing Finance Agency director-nominee, now responsible for overseeing servicer compliance under the $25 billion settlement, revealed Monday that BDO USA, LLP, would serve as the Raleigh, North Carolina-based office's eyes and ears. He spoke with MReport about the firm Wednesday.

Mortgage giant Fannie Mae announced Tuesday that old hand Timothy Mayopoulos will take over as president and CEO in mid-June. The new chief executive joined Fannie three years ago to serve as EVP, chief administrative officer, and general counsel. He assumes his new role as outgoing CEO Michael Williams takes leave. Before joining Fannie Mae, Mayopolous served as EVP and general counsel of Bank of America. He also functioned in senior management roles at Deutsche Bank, Credit Suisse First Boston, and Donaldson, Lufkin & Jenrette, Inc.

The monitor responsible for reviewing $25 billion in settlement funds announced Monday that his office has selected BDO USA, LLP, to serve as the primary professional firm needed to oversee the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós servicers. The firm will play a critical role in the oversight process as Joseph A. Smith, Jr., the former North Carolina banking commissioner selected by 49 state attorneys general to head up the settlement, begins the footwork necessary to fulfill terms and conditions under the landmark deal.

More than a year after releasing a white paper that set forth three options for housing finance reform, Treasury and HUD struggle to determine the best path forward for America's housing finance system. Speaking before an audience at a meeting of the American Real Estate and Urban Economics Association, Counselor to the Treasury Secretary for Housing Finance Michael Stegman explained that rather than answering the broader question of what the future of housing should look like, each proposal seems to ignite a slew of additional critical questions.