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Tag Archives: Company News

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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Big Second Quarter for BOK

Better credit and revenue health seem to be the influencing factors behind strong quarterly earnings reports from BOK Financial Corporation. The company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós net interest revenue rose by nearly $4 million between the first and second quarters of this year, while revenue from fees and commissions also increased by over $4 million.

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Landmark Lauded, Again

Landmark Mortgage Group has bragging rights in the Pleasanton, California region, having just been named the best mortgage company in the tri-valley area by Pleasanton Weekly. The magazine├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós annual Reader├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Choice Awards named Landmark the top mortgage entity for the second consecutive year.

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CoreLogic Making Moves in India and U.S.

CoreLogic├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós international operations are making news in India, with the announcement that Cognizant will buy CoreLogic Global Services Pvt. Ltd. for a reported $50 million. The acquisition of CoreLogic Global, better known as CoreLogic India, will likely make Cognizant the third largest information technology services entity in the country, ousting Wipro Ltd. Lenders using the new program will benefit from a high level of customization, including the ability to tailor the alert system.

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Mortgage Numbers Up for Fifth Third

Fifth Third Bancorp had a great spring season, judging by the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós scorching second quarter numbers. The bank estimates its quarterly results were the best on record since 2007, and the dramatic, 58 percent increase in mortgage banking revenue between the first and second quarters of this year contributed heavily to the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós recent success. Total net income during Fifth Third's second quarter was $337 million, demonstrating a significant rise quarter-over-quarter.

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BancTec Boasts New Platform

BancTec has rolled out an advanced mortgage servicing platform, geared toward new and existing lenders in need of accelerated and streamlined customer support, with considerable advantages for new users.

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New Senior Executive for PNC

Despite today├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós report in the Wall Street Journal of continued layoffs in multiple professional sectors, not everyone is fearing for their job. Especially Michael D. Greenwood of PNC Mortgage who has just been promoted to senior executive of the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Miamisburg, Ohio branch of operations.

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