Tag Archives: Company News

Gibraltar Capital and Asset Management, a wholly-owned subsidiary of Horsham, Pennsylvania-based Toll Brothers, Inc., recently acquired four new loan portfolios totaling more than $33 million.

While the revised Home Affordable Refinance Program (HARP), commonly referred to as HARP 2.0, has allowed far more homeowners to refinance than the original version, there remains a large group of eligible homeowners who have yet to take advantage of the program.

Two industry service-providers are teaming together to help servicers prepare for CFPB examinations and adjust procedures to comply with new regulations.

Residential Capital, LLC (ResCap) announced it has completed the sale of its servicing platform assets to Ocwen Loan Servicing, LLC.

Walter Investment Management Corp. has signed a definitive agreement to acquire Ally Bank's business lending operations.

Citing changes in regulatory reform due to Dodd-Frank as the driving factor, Edward Jones Mortgage, based in St. Louis Park, Minnesota, will close its doors permanently in April. The office has been writing residential mortgages since 1998 and ceased writing them in January.

In Michigan, Flagstar Bancorp, Inc., announced an agreement to sell the assets of DocVelocity, its document imaging business for mortgage lenders, to Capsilon, a provider of cloud-based sharing, imaging, and collaboration services for mortgage lenders.

ORNL Federal Credit Union (FCU), the largest credit union in East Tennessee, announced it has entered into an agreement to purchase land to be used for a new full service branch in 2014. The announcement follows a tremendous year of growth for the credit union, which saw a 15 percent increase in its customer loan portfolio and a more than 12 percent growth in all loans in 2012.

Altisource Portfolio Solutions announced it is purchasing certain fee-based businesses from Ocwen Financial for a combined purchase price of $218.6 million. According to a company release, Altisource entered into non-binding letters of intent with Ocwen to acquire certain fee-based businesses related to the servicer's recent purchase of Homeward Residential and the anticipated purchase of the mortgage servicing platform from Residential Capital.

RE/MAX agents in the United States reported nearly 840,000 transaction sides last year--a 12 percent increase over 2011, the agency reported Tuesday. More notably, individual productivity within the RE/MAX network rose 15 percent to an average of 16.3 transaction sides per agent.