Tag Archives: Attorneys & Title Companies

Sun National Bank is updating is commercial lending team, with the addition of two new executives. Targeting support and growth for its middle market and commercial real estate business, Sun National has hired Anthony W. LaMarca and Joseph C. Tkac. LaMarca is joining Sun National as the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós senior vice president and wholesale regional manager for its south New Jersey and Philadelphia markets.

Texas-based Supreme Lending is expanding its reach, with the recent announcement that the company added branches in Alabama. The five new locations, which are spread throughout the Southern state, are part of Supreme's growth strategy plan for 2012. Currently, Supreme's Alabama branches close nearly $500 million mortgages per year. Supreme's decision to extend its service area builds on the company's proprietary technologies and its in-house operations for underwriting, closing, and funding loans.

In accordance with the government's updated Home Affordable Refinance Program (HARP 2.0), United Wholesale Mortgage has announced its successful implementation of the December 1 enhancements to the initiative. The federal program, which is designed to help facilitate refinancing for distressed homeowners, is expected to increase the number of participants who are eligible for assistance.

InHouse Inc. is working to abbreviate the time it takes lenders and appraisers to deliver the correct documentation to the government-sponsored enterprises. The company recently announced that it now offers users a faster, easier method of integration and compliance with the Uniform Collateral Data Portal. Providing technology services for banks, lenders, credit unions, and other mortgage originators, InHouse will help the companies it works with adapt to the UCDP in a matter of weeks.

The House voted to send a payroll tax extension bill into a bicameral committee Tuesday, increasing uncertainty over whether Congress will include a pay-as-you-go provision that would hike fees on lenders originating mortgages backed by Fannie Mae and Freddie Mac. The Senate version of the legislation passed earlier this weekend with stipulations that would raise mortgage fees on lenders with GSE loans by one-tenth of 1 percent, and extend the payroll tax for two months, according to news outlets.

Two banks went under over the weekend, interrupting a failure-free last two weeks and raising the national tally to 92 for the year ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô a number in line with earlier forecasts from the FDIC as the New Year approaches. Phoenix, Arizona-based Western National Bank and Panama City, Florida-based Premier Community Bank each shuttered their doors, with regulators appointing the FDIC to serve in its traditional role of receiver. Both bank failures cost the FDIC's insurance fund a combined $68.8 million.

Following his announced resignation two weeks ago, Rep. Barney Frank showed few signs of slowing by denouncing provisions that made it into a proposal that recently cleared the House Financial Services Committee. He referred prominently to a provision from the Private Mortgage Investment Act ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô drafted by Rep. Scott Garrett and passed by the House Financial Services Committee 18-15 ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô that aims to repeal the risk-retention rule from the Dodd-Frank Act and do away with the GSEs.

The Securities and Exchange Commission filed suit against former executives with Fannie Mae and Freddie Mac Friday over their alleged roles in securities fraud. The SEC suit purports that Fannie├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós executives underreported considerable exposure to forces in the market, with $4.8 billion in single-family loans on the books. For its part, the suit alleges, Freddie misled investors with claims that the GSE attached a different name to $43.3 billion in single-family loans in a report it filed publicly back in February 2007.

LendingTree is reaching out to originators and borrowers with an information release that focuses on consumer preparedness during the mortgage loan process. Citing borrowers' frustration with the pace of loan originations, LendingTree put out a report cataloging the top five documents that those seeking and selling mortgages can use to help facilitate faster processing.

The Bipartisan Policy Center's Housing Commission has added a new member, with the announcement that Alfred DelliBovi will join the organization. DelliBovi's appointment to the commission continues the development of the group's leadership roster, which includes numerous national business and civic leaders. Other members of the commission include Henry Cisneros and former U.S. Senator Mel Martinez, both of whom have previously acted as HUD secretaries; Senator Kit Bond; and George Mitchell, who co-founded the Bipartisan Policy Center.