Tag Archives: Lenders & Servicers

Under a new agreement between American Bankers Association subsidiary Business Solutions and Mortgagebot, banks signed up with the former will have the ability to access solutions for their online mortgage applications.

On Tuesday the Federal Housing Finance Agency reported a slight 0.8 percent rise in home prices from March to April, representing a positive note in a brittle housing market.

On Monday, leading mortgage servicer Stonegate Mortgage Corp. announced that it hired Matthew Locke to head up its retail lending services division as SVP. Stonegate has grown year over year the past three years, for one reason: its ability to identify opportunities and hire the right people to deliver, Dan Bettenburg, Stonegate├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós president and CEO, said in a statement.

The Federal Housing Finance Agency released research on this week indicating a greater-than-expected drive to high conforming jumbo mortgages (HCJMs) by Fannie Mae and Freddie Mac, raising questions about the long-term impact their buying spree may have on private markets. According to the research, the government-sponsored enterprises walked away this year with approximately 55 percent of HCJMs in 10 of the nation's high-cost counties, a number totaling approximately 50,000 mortgages worth over $30 billion.

Despite gridlock in the confirmation process for its embattled nominee, news reports put the Consumer Financial Protection Bureau on schedule to launch formal operations and ready to begin policing Wall Street in July, with or without the director that Senate Republicans vow to obstruct. With its management team and staff already in place, a broad array of powers sanctioned by the Dodd-Frank Act will empower the consumer protection bureau to issue new rules for over 100 banks with more than $10 billion in assets.

Firing another salvo at the new Dodd-Frank regulatory regime, House Republicans submitted an appropriations bill last week that proposes slashing $350 million from the Consumer Financial Protection Bureau's budget for 2012. Released by the House Committee on Appropriations, the bill offers to cap funding for the CFPB at $200 million, keeping to a minimum the sweeping powers that Dodd-Frank invested in the new regulatory agency. Provisions also threatened to kneecap the Obama administration's 2011 fiscal year budget.

In a statement released Thursday, Transwestern announced the appointment of Sunjay Arya as transaction manager at its Houston headquarters. We are excited about the growth of our multifamily team, both locally and nationally, said Ed Cummins, SVP of multifamily services.

Tech leaders a la mode and CoreLogic are teaming up. CoreLogic├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós ValuEdge platform will now connect with a la mode├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Mercury Network to facilitate ValuEdge's Native XML appraisal data. CoreLogic's ValuEdge software targets streamlined appraisal process compliance, and the integrated plugin with a la mode will provide CoreLogic with additional quality control elements and advanced bundling for all reports.

Recent analysis by the Mortgage Bankers Association revealed that commercial and multifamily mortgage debt remained relatively fixed in the first quarter of 2011, down by only 0.1 percent from the fourth quarter.

May housing numbers are in for the state of California and numbers look grim. The survey, conducted by the California Assoc. of Realtors, credits the struggling economy and stringent lending standards for the decline.