Tag Archives: Company News

The president of the St. Louis Federal Reserve Bank, James Bullard, made national headlines recently following his strong statements regarding the state of U.S. real estate. Among the revelations included in Bullard's February speech - the declaration that nation's housing markets have officially hit bottom. During his speaking engagement in Chicago, Bullard applied pressure to the Federal Open Market Committee, calling the group's decision to extend ultra-low interest rates until 2014 a looming disaster for the country. Bullard cited the decline in U.S. home prices and loss of wealth.

In Maryland, Maverick Funding Corp. is rolling out a new branch of its subsidiary, Reverse Mortgage Network. Recently announcing the addition of 40 reverse mortgage loan officers from within Baltimore-based Great Oak Funding, Maverick will conduct its expansion during the first two quarters of 2012.

Through its recent acquisition of property insurance company Crump Group Inc., BB&T Corporation has doubled its wholesale insurance business. Based in New Jersey, Crump is among the nation's leading providers of wholesale commercial insurance, as well as the largest independent wholesale distributor of life insurance in the U.S.

New York-based direct commercial real estate lender, Arbor Commercial Mortgage, LLC, has promoted John Caulfield to COO. Caulfield, previously EVP and director of operations, will now supervise Arbor├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós $5.8 billion multifamily loan servicing portfolio.

Regional bank BB&T is starting of the year with a slew of awards for its Small Business and Middle Market banking groups. Between the two company divisions, BB&T earned 17 Greenwich Excellence Awards from Greenwich Associates.

Fairway Independent Mortgage Corporation has released its 2011 internal findings, and the company was pleased to announce that last year marked its second highest annual total for mortgage loan volume in Fairway's history.

In California, Provident Financial Holdings, Inc., has announced its entry into retail originations. The company recently announced that it has hired a retail mortgage banking group to open loan production locations under the Provident Bank Mortgage banner throughout the northern region of the state.

Lender Processing Services, Inc., has officially responded to the December complaint made by the Nevada Attorney General. In a company statement, LPS stated that it has filed a motion to dismiss, based on legal defects.

In less than two weeks, M.D.C. Holdings, Inc., will welcome a new company officer, with the announcement that John M. Stephens will join MDC as the group's chief financial officer, principal accounting officer, and senior vice president. MDC's board of directors recently appointed Stephens to the leadership positions, and his new roles with MDC will become effective on February 13.

Mortgage lender Churchill Mortgage has announced a new addition to its sales force. The company has named Kevin Watson as the regional sales manager for Churchill's middle Tennessee area.