Tag Archives: Processing

Prudential Real Estate released Tuesday the results of its first-quarter Consumer Outlook Survey, revealing Americans' sentiment toward real estate is growing more and more favorable.

Chicago-based Guaranteed Rate announced the hiring of seasoned mortgage industry vet Tom Gamache as national director of retail production. Gamache brings more than two and a half decades of industry experience to Guaranteed Rate, recently serving in executive sales positions at MetLife Home Loans and Bank of America, where he led his sales team to exceed quarterly and annual production goals.

Fiserv, Inc., announced that its Common Origination Platform and LoanServ solutions have been integrated to provide real-time, full-circle loan boarding processes for all mortgage loans.

Class Appraisal, Inc. appointed a former mortgage banking executive to manage sales in the middle market. Tim Perkins was selected to lead the company as a consultant and business developer. Over the years, Perkins has held key positions with large mortgage banking companies such as Citigroup and JP Morgan Chase.

In Oklahoma, AmeriBid LLC announced the promotion of chief marketing officer John Pellow to VP. Pellow joined the company in 2009, serving before then as director of marketing for a real estate auction and brokerage services firm, where he was responsible for the marketing and sales support of several divisions.

Arizona's Gold Canyon Bank became the fifth FDIC-insured bank to fail in 2013, the agency announced. The Arizona Department of Financial Institutions closed the bank Friday, appointing FDIC as receiver. To protect depositors, Gold Canyon Bank's estimated $44.2 million in deposits has been assumed by First Scottsdale Bank, National Association, which has also agreed to purchase essentially all of the failed bank's $45.2 million in total assets.

GMH Mortgage Services LLC, based in Newtown Square, Pennsylvania, continues to expand its reach with the addition of Ed Moloney as a new loan officer in its Boston, Massachusetts, branch.

Mortgage Daily's Mortgage Fraud Index fell to its lowest level in nearly five years in Q4 2012, but the drop may just be a temporary dip. The fraud index read 758 in the fourth quarter, down from 1,017 in Q3 and 1,141 in Q4 2011. According to Mortgage Daily, the fourth-quarter index reading was the lowest since first-quarter 2008. In terms of dollar amount of loans involved in fraud, California posted a decline from the third quarter, when it ranked No. 1. It was replaced by Florida, which reported about $246.9 billion involved in fraudulent activity.

QuestSoft's fifth annual compliance survey reveals at least 49 percent of lenders have ranked Dodd-Frank-related uncertainty as a high concern for the past three years.

While inventory shortage has created myriad problems for buyers, they're apparently undeterred from their home searches, according to data from Redfin. The brokerage's Real-Time Demand Pulse for April (which examines March data) shows strong monthly gains in the number of Redfin customers touring homes and in the number of signed offers being made, indicating potential pickups in April and May sales. Redfin analyst Tim Ellis noted the struggle to find new listings "only seems to be strengthening the resolve of today's buyers."