Tag Archives: Company News

A new executive vice president has been announced at BancorpSouth, Inc., with the appointment of James Ronald Hodges to the position. Hodges' ascension to the role follows the company's previously planned retirement of W. Gregg Cowsert after 21 years of service to BancorpSouth.

Citizens Republic Bancorp, Inc, has a new board member with the addition of William M. Fenimore Jr. Elected to CRBC├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós board of directors by the U.S. Department of Treasury, Fenimore├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós appointment was conducted in conjunction with the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós participation in the Treasury├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Capital Purchase Program.Citizens Republic Bancorp, Inc, has a new board member with the addition of William M. Fenimore Jr. Elected to CRBC's board of directors by the U.S. Department of Treasury, Fenimore's appointment was conducted in conjunction with the company's participation in the Treasury's Capital Purchase Program.

VeroINSIGHT has lift off, with Veros Real Estate Solutions and JVI Solutions LLC recently announcing the arrival of the new, collaborative product. Targeting property condition reports and regulation compliance, the company's latest technology launch is good news for those conducting collateral evaluations.

Digital Federal Credit Union (DCU) is enhancing its technology platforms with the help of LenderLive Network Inc. With the use of LenderLive's loan fulfillment program, DCU will now have improved processing, underwriting, and closing procedures. DCU, the largest credit union in New England, serves clients in all states nationwide, and the company cites rising demand as the chief catalyst behind selecting the new software initiative.

Mortgage Cadence, LLC, has a new client in the Security Service Federal Credit Union (SSFCU). Taking advantage of Mortgage Cadence's enterprise lending solutions, the SSFCU is seeking to enhance its loan originations solutions. The company will utilize Mortgage Cadence's Orchestrator and Finale Document services to gain added compliance measures and document management.

Pacific Union Financial LLC is the latest preferred investor with Lenders One Mortgage Cooperative. Through the partnership, Lenders One members will be able to expand their products lines in order to take on competitive aggregators. Lenders One, a national alliance of community mortgage bankers, product suppliers, and correspondent lenders, will gain support from Pacific Union for both its retail and wholesale platforms.

Enhanced technology initiatives for wholesale and correspondent lenders is now available thanks to ClosingCorp's new platform. The company recently announced that it would release the SmartGFE Service, targeting streamlined processing for entities in both markets. ClosingCorp's SmartGFE product will provide instant access to RESPA-based Good Faith Estimate (GFE) data to those in the wholesale and correspondent segments.

In another twist for the nation's largest mortgage lenders, Wells Fargo upped the ante against JPMorgan Chase & Co. by filing a suit in a Delaware court to order the latter to buy back over $558 million in bad mortgage-backed securities. Multiple news outlets offered up the latest tizzy Thursday, with Wells escalating the case after JPMorgan refused to budge on the repurchases. The loans stem from the Bear Stearns Mortgage Funding Trust 2007-AR2, otherwise known as the EMC unit, which JPMorgan acquired in 2008.

Changes are on the way for Clopton Capital, with the company's recent announcement that it would launch a small-balance mortgage plan for minimally-sized loans. Primarily focused on commercial mortgages, SBA loans, commercial real estate loans, and niche financing, Clopton's new program is a rarity among similar lenders Clopton's offering will target single applicant loans between $25,000 and $400,000.

An international partnership between the Depository Trust & Clearing Corporation and Clearstream is set to enhance operations for bilateral loans. The companies plan to combine DTCC's Loan/SERV and Clearstream's collateral management platform to streamline the registration and reconciliation of loans, as well as facilitate the use of loans as collateral. DTCC and Clearstream will the collaboration to support credit claims and syndicated loan markets, with Clearstream initiating the leveraging of DTCC's Loan/SERV reconciliation service during the first half of 2012.