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Tag Archives: Investors

Kansas Bank Boosts Borrower’s Tech Options

National Bank of Kansas City is adding to its arsenal of technology tools. Recently announcing that it will now utilize DocuSign├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós eSignature platform to enhance all aspects of mortgage processing, the financial institution will be able to boost borrower├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós integration into loan procedures.

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Fed Rejects MetLife Plan, Likely Speeding Mortgage Exit

Fed

In a blow to MetLife, the Federal Reserve rejected a plan by the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós biggest life insurer to move forward with stock repurchases and capital redistribution plans, likely accelerating the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós departure from the mortgage markets. The news arrives on the heels of an announcement by the company to sell off MetLife Home Loans, the division responsible for originating residential and reverse mortgages. In a statement, MetLife said that it had recently sent a capital redistribution proposal to the Fed in order to shore up annual dividends.

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Mortgage Applications Jump 4.9% from Week Earlier

Mortgage application volume leapt forward by 4.9 percent from the week earlier despite flailing numbers for purchase applications. The Mortgage Bankers Association released the Weekly Mortgage Applications Survey for last week, with findings that include a seasonally adjusted 4.9-percent increase and an unadjusted 4.8-percent increase in terms of total mortgage application volume. Mike Fratantoni, VP with the MBA, tells MReport that application volume remains historically low due to low job growth, among other things.

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New President for NexGen

New

NexGen Compliance Solutions, LLC, has named a new president with the appointment of Cheri Shine to the position. Shine will take over from the current head of the company, Jeff Adam, who is departing NexGen to open his own financial consulting firm. Formerly NexGen├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós executive vice president, Shine boasts more than two decades in the mortgage business, and she has held diverse roles throughout the industry, including previous experience in lending and title vendor management.

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Single-Family Sales Soar in Massachusetts

In the Northeast, data from the third-quarter shows that Massachusetts' housing market may be experiencing a slight uptick. The state recorded its third consecutive monthly increase in single-family home sales during September, based on year-over-year numbers.

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Home Federal Integrating New Technology Platform

Financial institutions are continuing to invest in technology despite the unpredictable mortgage marketplace this year, and Home Federal Bank is adhering to the trend with the recent announcement that it will go live on the Common Origination module from Fiserv, Inc.

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Obama Nominates Candidate for FDIC Vice Chairman

The Obama administration's latest appointment on Capitol Hill was announced recently, with the news that Thomas Hoenig would be nominated as vice chairman of the FDIC. The former chief of the Federal Reserve Bank of Kansas City would serve the FDIC until December 2015 if he is approved by the Senate.

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Bank Stocks, Shares Fall on Euro Debt News, Again

The meeting cancellation before a major summit of European Union state leaders spooked the markets Tuesday, according to multiple news outlets, leading the Dow Jones Industrial Average into a 207-point nosedive and slashing stocks and shares for the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós mortgage lenders. The investor selloff wiped clean three days of otherwise solid gains for bank stocks and shares, which deflated on news that troubled economic heavyweights Greece and Italy may still tumble.

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Morgan Stanley Plans to Exit Mortgage Servicing Business

Morgan Stanley announced Monday that it planned to hand off its servicing arm in a major sale, making it the newest bank in a growing line of others leaving or substantially reducing their share of activity in the mortgage markets. The financial institution said in a statement that it would sell Saxon Mortgage Services to Ocwen Financial Corp. for $59.3 million. The buyer will also pay $1.4 billion to cover fees for advance receivables outstanding, with the transaction expected to close over the first few months of 2012.

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Bipartisan Bill Targets Foreign Investors for U.S. Housing

On Capitol Hill, the Senate is making moves to help the U.S. housing market capitalize on foreign investors. Sen. Charles E. Schumer (D-New York) and Sen. Mike Lee (R-Utah) proposed legislation recently that would facilitate investments from abroad by easing the acquisition of visas for those participating. The bipartisan plan would give foreigners buying homes on American soil a residential visa for three-years with an investment of $500,000 or more, provided they live in the property for a minimum of 180 days per year.

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