Tag Archives: Processing

Pisgah Community Bank (Asheville, North Carolina) and Sunrise Bank (Valdosta, Georgia) became the 11th and 12th federally insured banks to fail in the nation this year, FDIC announced.

Louie Colatriano, formerly of Bank of America, has joined Stearns Lending as SVP of margin management, the firm announced. In his role, Colatriano will lead efforts to profitably grow originations and maximize mortgage production margins across all business channels with a special focus on Stearns' strategic alliance business partners.

While competition over available homes remains fierce in many areas around the country, the latest Bidding War Report from Redfin shows some markets cooled off a bit in April.

Texan law firm Farris Law Group, PLLC announced the hiring of three new team members to focus on the company's growth and expansion, especially in the mortgage document preparation department.

As the housing market experiences a burgeoning recovery with rising prices, an uptick in sales, and an increase in housing starts, Federal Reserve Governor Elizabeth A. Duke points out purchase-originations remain "subdued," especially among individuals with less than stellar credit scores. While originations are down across the board, "[t]he drop in originations has been most pronounced among borrowers with lower credit scores," Duke said at the Housing Policy Executive Council Thursday in Washington, D.C.

CoreLogic, based in Irvine, California, announced the availability of its LoanSafe suite of risk mitigation solutions through seven different loan origination systems (LOS).

zIngenuity, a risk management and mortgage fulfillment services provider based in the Dallas area, has reinvented its website to align with its current services offerings, the company announced.

The latest quarterly report from the National Association of Realtors (NAR) shows home purchasing power remained high in the first quarter even as median prices continued their upward trend. Nationally, the median existing single-family home price was $176,600, up 11.3 percent year-over-year--the strongest yearly price increase since the fourth quarter of 2005, when the national median price jumped 13.6 percent over the prior year.

Commerce Mortgage, a leading provider of mortgage services in the Western United States, announced the opening of its newest branch in Carlsbad, California.

LendingTree, an online source for competitive home loan offers, announced the official launch of a new advertising campaign which will run across all marketing channels, including television, radio, print, online, direct marketing, and social media.