Tag Archives: Attorneys & Title Companies

Gateway Mortgage has selected Fiserv's LoanServ platform to handle its mortgage servicing technology needs, Fiserv announced.

Existing-home sales fell 1.2 percent in June to an annual sales rate of 5.08 million as the price of a single-family home rose 13.5 percent from a year earlier--the strongest year-over-year gain since November 2005, the National Association of Realtors (NAR) reported Monday. The drop in sales came despite an increase in April in NAR├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Pending Home Sales Index, which tracks contracts for existing single-family homes. The index rose in April to 105.7 from 104.1 in March and fell in May.

The vast majority--95 percent--of residential appraisers surveyed in May and June reported an increase in demand for their services compared to last year, according to a report from the Appraisal Institute. Although the outlook for services appears strong, the hiring of trainees is expected to remain weak, especially among residential appraisers. According to the institute, commercial appraisers account for less than one-third of practicing appraisers, yet they were much more active in hiring trainees.

In the last three months, confidence is up 16 points, or almost 40 percent. With giddy numbers like these, one would think builders would rush to break ground, but they're not.

Annual home price and sales gains continued their streak in June, increasing on a yearly basis for the 17th straight month, according to RE/MAX's monthly housing report.

GMH Mortgage Services, a nationally recognized mortgage banker headquartered in Pennsylvania, announced the addition of Brian Beale as associate VP of corporate recruiting.

In Dallas, Wingspan Portfolio Advisors brought on experienced mortgage vet Meredith McCrory as VP of strategic alliances.

Genworth's U.S. Mortgage Insurance (USMI) unit has been recognized by the National Association of Federal Credit Unions (NAFCU) for its efforts to educate companies on mortgage origination practices.

A survey conducted for the American Action Forum (AAF) shows the majority of American voters view Fannie Mae and Freddie Mac unfavorably and would support phasing out the mortgage giants. The survey found that the enterprises have yet to recover in the public eye, with 52 percent of those surveyed saying they view the companies unfavorably and only 20 percent viewing them favorably. Wes Anderson, who oversaw the poll, described the public image of Fannie Mae and Freddie Mac as "nearly toxic."

The originations market has been dominated by refinances for some time, but purchases are beginning to make a comeback, according to Ellie Mae's latest Origination Insight Report. Refinances made up just over half the market in June, with 51 percent of loan applicants seeking refinances. This is down from 58 percent in May and 54 percent in June of last year. Purchases closed one day faster than refinances in June (46 days compared to 47), though both categories took longer to close in June than they did in May, according to the report.