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Tag Archives: Company News

Cleveland Fed Weighs in on Branch Closures

The Federal Reserve Bank of Cleveland has released its commentary on the broader economic effects of the recent closure of local bank branches, as lenders struggle to maintain bottom line viability in the marketplace. The brief, developed by Emre Ergungor and Stephanie Moulton, is titled, Do Bank Branches Matter Anymore?, and the authors├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó conclusions indicate that the general answer to that large and looming question is a resounding yes, with considerable social impact as a net loss in communities.

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FICS Makes Top 50, Again

Making the annual list of industry technology leaders for another consecutive year, Financial Industry Computer Systems, Inc., got named to the Top 50 Service Providers, compiled yearly by Mortgage Technology.

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Carrington Acquires AHE Assets

Carrington Mortgage Services, LLC, is expanding via newly acquired assets from American Home Equity Corp. (AHE). Focused on growing its origination component, Carrington structured its purchase deal with AHE to enhance the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós wholesale retail channel.

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ABS Signs U.S. Bancorp CDC

Applied Business Software recently announced that U.S. Bancorp CDC is utilizing its servicing management platform, The Mortgage Office. U.S. Bancorp CDC will use the platform to service its tax credit loans.

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New EVP of Sales for DecisionReady

DecisionReady Solutions has found a new EVP, director of national sales and client relations in Matthew Lichtner. Recently hired into the role, Lichtner will oversee direct and indirect sales; marketing strategy; and market penetration among loan servicers, investors, and regulation agencies.

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New Staff and Products Tops at Total Mortgage

Big news abounds at Total Mortgage Services, LLC, with two major recent announcements focused on the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós retail channel. Total Mortgage is amping up its staff with 50 new loan officers, and in addition, has just launched its Home Loan Program through the Agriculture Department.

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Citigroup, Goldman Yank $1.5B CMBS Deal

With Standard and Poor's refusing to rate their their criteria for commercial mortgage-backed securities, Citigroup Inc. and Goldman Sachs Group Inc. withdrew their joint $1.5 billion bond sale of the financial products Thursday ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô a last-minute game change that sent shockwaves through the industry. Bloomberg News reported that the banks had triggered a ratings review need by S&P by raising the threshold for lower-ranked debt set to take the brunt of potential losses.

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Survey Shows Sellers’ Sentiments on the Rise

Is it really a buyers├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó market? Not according to recent survey results from J.D. Power and Associates, which demonstrated that sellers are more content than buyers in the current real estate market. The study looked at three key areas of the home-buying process: real estate agents, real estate offices utilized, and auxiliary services. Buyers positivity dropped by around 1 percent between 2010 and 2011, and the decrease is attributed to a 14 point drop in real estate agent satisfaction numbers.

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BancorpSouth Announces Cowsert’s Retirement

As of September 30, BancorpSouth, Inc. will be in search of a new vice chairman and chief credit officer due to the recently accounted retirement of W. Gregg Cowsert. He will leave BancorpSouth after more than 20 years with the company, which he joined in 1990 as a senior vice president and regional loan administrator in Hattiesburg, Mississippi.

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