Veros Real Estate Solutions announced its PATHWAY technology solution is ready to deliver Fannie Mae's proprietary appraisal messages.
Read More »360 Mortgage Group Expands Refi Offerings
360 Mortgage Group, a Texas-based privately-owned mortgage bank, recently announced the addition of two new mortgage refinance products to its inventory. The bank now offers customers access to the Veterans Affairs (VA) Interest Rate Reduction Refinance Loan Program and the Federal Housing Administration (FHA) Non-Credit Qualifying Streamline Product.
Read More »Fannie Mae, Freddie Mac Approve New Mortgage Insurer
Fannie Mae and Freddie Mac approved National Mortgage Insurance Corporation as an eligible mortgage insurer.
Read More »Vertical Capital Fund Fares Well in First Year
Vertical Capital income Fund (VCAPX), a fund that invests in mortgages and deeds of trust, outperformed its benchmark in its first fiscal year, according to a release from Irvine, California-based Vertical Capital Markets Group.
Read More »Carrington Expands Services with FHA Streamline 203k Loans
The mortgage lending division of Carrington Mortgage Services, LLC, is expanding its offerings to include Streamline Federal Housing Administration (FHA) 203k loans through its retail and wholesale businesses.
Read More »Mortgage Returns Launches Tool to Enhance Borrower Retention
In St. Louis, Missouri, Mortgage Returns has launched a program to help lenders maximize customer retention.
Read More »GFWM Announces Appointment of Chief Technology Officer
Genworth Financial subsidiary, Genworth Financial Wealth Management (GFWM), is welcoming a new member to its senior leadership team. The company recently announced the hiring of James Hanna as GFWM's chief technology officer.
Read More »FICO Study Reveals Rising Demand for Credit
According to a recent study from FICO, U.S. banks expect an end to the household deleveraging trend observed among consumers during the past five years. The company's latest quarterly survey revealed that bankers are anticipating an uptick in customers' demand for credit. Additionally, results showed that the majority of respondents "believe the supply of financing for auto loans, credit cards, new mortgages, small business loans, student loans, and mortgage refinancing will meet or exceed consumer demand over the next six months."
Read More »MBIA Sues Flagstar for Misrepresenting MBS
Alleging that the financial institution misrepresented the quality of $1.02 billion in mortgage-backed securities (MBS) dating from 2006 and 2007, MBIA Insurance Corporation has filed suit against Flagstar Bancorp, Inc. The assets in question were insured by MBIA, resulting in a $165 million loss for the company, according to a complaint filed in a U.S. District Court in the Southern District of New York. "To induce MBIA to guaranty payments due on certain securities, Flagstar made extensive warranties . . . . Flagstar's warranties were false," stated MBIA.
Read More »S&P Dow Jones Launches Equal Weight REIT Index
S&P Dow Jones Indices, the largest provider of financial market indices in the world, announced the launch of the Dow Jones U.S. Select Equal Weight Real Estate Investment Trust (REIT) Index. The new index is designed to measure the performance of publicly traded REITs and REIT-like securities, serving as a proxy for direct real estate investment.
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