Tag Archives: Processing

Genworth Financial got the go-ahead to implement its comprehensive capital plan for its mortgage insurance business. The plan has been fully implemented as of April 1, Virginia-based Genworth announced. The plan is expected to reduce Genworth Mortgage Insurance Company's (GMICO) risk-to-capital ratio by about 15 points and lower the combined risk-to-capital ratio of the U.S. mortgage insurance subsidiaries by about 10 points.

For February, DataQuick found home prices grew in 34 of the 42 counties on a monthly and quarterly basis.

MortgageFlex Systems, Inc., a leading provider of loan origination and servicing technology, is growing its implementation team with the addition of two new professional services team members.

The Office of the Comptroller of the Currency (OCC) announced that Comptroller Thomas J. Curry has been named chairman of the Federal Financial Institutions Examination Council (FFIEC) for a two-year term.

Construction spending rose 1.2 percent month-over-month in February, according to the Census Bureau. Spending rose both in the public and private sectors. On an annual basis, construction spending was up 7.9 percent in February, reaching an annual rate of $885.1 billion. Combined, construction spending in January and February totaled $120.1 billion, which is 6.6 percent above the spending observed in the first two months of last year.

Bradford Technologies Inc. announced the launch of CompCruncher 3, the third generation of the technology "that introduced statistical analysis into collateral valuations."

Wingspan Portfolio Advisors, a diversified mortgage servicing company operating in the Dallas area, says lenders, servicers, and investors are leaving money on the table by not doing their homework on oil and gas leases.

Mortgage Executive Magazine named Guaranteed Rate the No. 1 mortgage company in America. In addition to taking the top spot on the publication's annual list of the top 200 mortgage companies, Guaranteed Rate has more loan officers included in the top 1 percent of the industry professionals across the country and has the most number of loan officers in the top 200 than any other company, with 30 included on the list.

With origination costs on the rise (Ellie Mae cited data from the Mortgage Bankers Association showing the average cost of origination climbing from $2,291 in 2008 to $3,353 in Q3 2012) and more than 350 federal, state, and local laws governing loans, the cost of doing business the right way is a major concern for those companies trying to turn a profit. However, while many of those costs can be measured and predicted, Ellie Mae points to a number of factors that some firms may not have thought about.

First-time claims for unemployment insurance jumped 16,000 to 357,000 for the week ending March 23, the strongest jump since mid-February, the Labor Department reported Thursday. Despite the unexpected bump, initial unemployment claims have fallen for seven of the first 12 weeks of the year, averaging just a shade over 350,000, the number most economists see as the tipping point between a strengthening and weakening jobs market.