Tag Archives: Lenders & Servicers

Contrary to what some other sources are reporting, Realtor.com's National Housing Trend Report for October indicates the home buying season hasn't come to a close just yet.

The lending division of Carrington Mortgage Services (CMS), LLC appointed Kathy Pilgrim as branch manager of the company's branch in Duluth, Georgia.

MountainView Servicing Group announced it is acting as the exclusive sale advisor for a Fannie Mae portfolio valued at $152 million (unpaid principal balance).

Republic Mortgage Insurance Corporation faces a $100,000 fine and enhanced supervision by the Consumer Financial Protection Bureau for allegedly offering illegal kickbacks to lenders in return for business referrals, according to an announcement from CFPB. "The CFPB believes that RMIC provided kickbacks to mortgage lenders by purchasing captive reinsurance that was essentially worthless but was designed to make a profit for the lenders," the bureau said in its announcement.

RE/MAX is the latest company to report an expected seasonal slowdown for housing in October. The real estate network reported a month-over-month decline in sales figures and prices as the market began to chill. "What we're seeing now are predictable seasonal cycles, which is just another sign that the housing recovery is bringing us back to a more normal market," said RE/MAX CEO Margaret Kelly. Inventory remains diminished, though the company noted that losses have slowed in the past several months.

Diane Nordin, a seasoned asset management executive, has joined Fannie Mae's board of directors, the company announced.

Builder confidence remained flat in the National Association of Home Builders' (NAHB) November report, with a slight majority of builders saying market conditions are promising. The NAHB/Wells Fargo Housing Market Index (HMI) came out to 54 this month, unchanged from October's downwardly revised reading. An index value above 50 indicates that more builders view conditions as good than poor; November marks the sixth straight month in which confidence has hovered above the neutral mark.

In Connecticut, Norcom Mortgage touted the creation of its new Norcom Origination Exchange (NOX) Portal, a secure loan exchange program designed with the firm's wholesale and correspondent partners in mind.

JPMorgan Chase announced Friday it has reached an agreement to pay billions of dollars to resolve claims from investors related to collapsed RMBS issued between 2005-2008.

Rising home sales and declining foreclosure sales have driven the highest quarterly price increase since the national housing market recovery began, according to the FNC Residential Price Index released Friday. Prices rose 2.5 percent over the quarter, according to FNC. Phoenix posted the highest cumulative price gain since the start of the recovery--a 46.2 percent increase. The rest of the top five gains were recorded in Las Vegas (38.3 percent), Riverside, California (23.5 percent), Los Angeles (22.7 percent), and Orlando, Florida (20.5 percent).