Tag Archives: Attorneys & Title Companies

Mortgage Contracting Services (MCS) announced that Paul Lee has been named CFO.

The Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey shows loan application volume fell a seasonally adjusted 0.6 percent for the week ending October 18.

While the government works toward GSE reform, Keefe, Bruyette & Woods (KBW), a financial services provider; says reform for the Federal Housing Administration (FHA) should also be a top concern.

Five federal agencies issued Tuesday a statement assuring creditors that they do not run the risk of being found in violation of fair lending laws should they choose to only originate qualified mortgages (QM) as defined earlier in the year. With creditors having to consider a balance of secondary market opportunities, capital requirements, and credit and liability risk, regulators say they expect there will be a need for most businesses to fine-tune their products in response--something they should be used to.

The Census Bureau put construction spending at a seasonally adjusted annual rate of $915.1 billion in August, a slight increase over July's spending. On the private side, the Census estimated construction spending was at an adjusted rate of $640.5 billion, 0.7 percent above the revised July estimate of $636.1 billion. Private residential construction spending was $340.2 billion, a 1.2 percent increase from July and an 18.7 percent increase from August 2012.

Capital Economics is ready to acknowledge that rising mortgage rates may provide more drag than the firm's analysts first thought.

ValuTrac Software, a software solutions provider to the appraisal management and mortgage lending industry, announced the hiring of David Yavorsky as the company's new CIO.

The unemployment rate edged down to 7.2 percent in September as the economy added 148,000 jobs, the Bureau of Labor Statistics (BLS) revealed in its monthly Employment Situation Report. The report, released weeks late as a result of the partial government shutdown, also showed revisions in job growth for July (down from 104,000 to 89,000) and August (up from 169,000 to 193,000).

Axios Valuation Solutions, a Fort Worth-based compliant appraisal services provider, announced the release of Desktop Appraisal.

Now that most of the nation's biggest mortgage players have put out their earnings numbers for the third quarter, investment bank FBR Capital Markets says its mortgage banking forecasts--$1.6 billion for 2013 originations followed by $1.4 billion in 2014--are still well within reach. Examining the reports, FBR says the third quarter was a case of "more of the same, with anemic loan growth ... weak mortgage banking, and lack of top-line expansion as the more notable items."