RiskSpan, Inc., a provider of integrated risk and valuation solutions, announced Wednesday that Allen H. Jones is the company’s new managing director of its Washington, D.C., federal services consulting practice. Jones has more than 25 years in mortgag…
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American Home Mortgage Charged with Violating Debt Collection Laws
Texas Attorney General Greg Abbott says American Home Mortgage Servicing is using illegal debt collection practices and misleading struggling homeowners, resulting in foreclosure for some borrowers. Abbott brought formal charges against the company on …
FDIC Adds 54 "Problem" Banks to Its Watch List
The FDIC said Tuesday that the number of banks on the agency’s so-called “Problem List” has risen to 829, up from 775 at the end of the first quarter of 2010.
The number of troubled institutions now under the FDIC’s watchful eye is the highest it’s…
Home Prices Edge Up in June, but Appreciation Already Slowing: S&P
Home prices rose in June for the third consecutive month – a precipitate of the homebuyer tax credit that sparked a flurry of purchase activity in the spring. Buyer demand, though, has now dropped off substantially, and it’s a trend that will likely ro…
Dodd-Frank Reform Act Includes Stricter Rules for Appraisals
The Dodd-Frank Financial Reform Act includes new appraisal management rules as well as stricter laws and firmer penalties for lenders. The bill’s appraiser independence standards will give lenders new options on managing appraisers, and lenders are scr…
Servicers Fail to Deliver on Loan Mod Best Practices: J.D. Power
U.S. consumers are less satisfied with their experience during the loan modification process than they are during loan origination, namely because mortgage servicers are missing the mark when it comes to delivering on best practices, according to J.D. …
Mutual of Omaha Bank Adds Senior Mortgage Loan Officer
Mutual of Omaha Bank has hired Steven D. Johnson as a senior mortgage loan officer in Austin, Texas. Johnson is a 15-year veteran of residential lending. Prior to joining Mutual of Omaha Bank, he was a mortgage loan officer at Amcap Mortgage in Austin….
Retail Mortgage Lender Fairway Enters Wholesale Market
Fairway Independent Mortgage Corporation announced Monday it will enter the wholesale market with select banks, credit unions, and brokers. Using its expertise in Federal Housing Administration (FHA), agency, and U.S. Department of Agriculture (USDA) r…
Citizens Appoints President of Home Lending, Plans 400 New Hires
Citizens Financial Group, Inc. recently announced the appointment of Cheryl Nolda as president of its Home Lending Solutions business. Nolda has 27 years’ experience in the financial services industry and oversees the company’s residential mortgage and…
Housing Supply and Demand Won’t Balance until 2012: Moody’s
Moody’s Investors Service says it expects home price appreciation to be “soft” for the next couple of years.
The company says there were 1.8 million more vacant homes sitting on the market than what is considered the norm at the end of the second q…
