Tag Archives: Service Providers

Mortgage loan applications fell by 0.4 percent nationwide over the last week, spreading unease among lenders concerned about the potential for a dip in the housing market, according to a study released by the Mortgage Bankers Association (MBA) on Wednesday. The decline in loan applications coincides with the lowest rates for mortgages in the last six months and the fewest applications for home purchases in nearly 15 years. Market analysts say people are "nervous," which can preclude signing on the bottom line to buy a home.

Homebuyers can now review the latest mortgage loan quotes right from their phone for loan shopping on the go. On Tuesday, Zillow released a statement publicizing the launch of its newest innovation: a mobile app that allows iPhone users to navigate the mortgage market and receive the latest custom quotes from lenders and mortgage bankers, with tools to determine the amount of their monthly payments and decide whether refinancing packages would make sense for their homes.

Three is not a crowd at the Federal Reserve Bank of Philadelphia who is promoting three employees. [IMAGE] [COLUMN_BREAK] The Philadelphia Fed promoted Constance H. Wallgren to vice president and chief examinations officer in the bank├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós supervision, regulation and credit (SRC) department.

Indiana governor Mitch Daniels is looking to protect Indiana homeowners. Governor Daniels is signing HB 1541 to restrict private transfer fees or Wall Street Home Resale Fees. The new law, sponsored by Indiana State Representative Mike Speedy, places a ban on these fees, which could take away from one├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós home equity, lower home resale values and provide more obstacles to the home buying process.

At the recent conference held by the Federal Reserve Bank of Chicago, implementation issues surrounding the Dodd-Frank Act were prominent, with Wayne Abernathy, executive vice president of the American Bankers Association, telling attendees that numerous delays in deploying the provisions of the bill are likely to continue. Abernathy stated that regulators have already extended 30 out of 30 deadlines for implementation, in several areas such as risk-retention rules, GSE dissolution, and loan officer compensation.

Home values plummeted more in the first quarter of this year than they have in any quarter since 2008, according to Zillow's first quarter Real Estate Market Report. The Zillow Home Value Index fell 3 percent from the fourth quarter of 2010 and declined 8.2 percent year-over-year to $169,600. Home values have fallen 29.5 percent since they peaked in June 2006.

FICO, the decision management technology and makers of the ubiquitous credit scores announced the net income for its fiscal second quarter is down 40 percent to $7.7 million, or $0.19 per share due to an $8.1 million after-tax restructuring charge for workforce and facility reductions.

As of May 1, code enforcement officials and field service providers for the mortgage servicing industry will have a new tool at their disposal to facilitate and streamline communication.

Icon Residential Lenders recently bolstered the company's West Coast sales team with two notable promotions from within the organization and a new hire joining Icon from 360 Mortgage Group. Rhett Hubbard was promoted to area sales manager for Orange and San Diego counties, and Justin Smith will also take on an upgraded role as area sales manager for Los Angeles, Riverside, San Bernardino, and Ventura counties. New to Icon, Debbie Hood has been appointed as the area sales manager for the Pacific Northwest.

Mortgage rates hit a two-month low, declining to 4.67 percent for 30-year fixed loans. That's down from 4.88 percent one week ago, according to Freddie Mac. The average 15-year loan was down to 3.97 percent.