Despite a decade-long trend making winter the slowest homebuying season for the Las Vegas area, the region saw an increase in existing home sales for the month of December, finishing the year strong enough to break the metro’s yearly existing-home sale…
News
New York AG Allots $1M to Foreclosure Prevention
Following an expiration of federal funding for foreclosure prevention in New York, state Attorney General Eric Schneiderman allotted $1 million to provide assistance to homeowners facing foreclosure. Schneiderman’s office will distribute the funding to…
Fed’s Beige Book Depicts Growth in All Economic Areas Except Housing
The U.S. economy ended 2011 in better standing than earlier in the year, according to the Federal Reserve’s polling of key business contacts, economists, and market experts throughout its 12 regional districts. Reporting for the latest Beige Book publi…
Banking Veteran Lisa Scott Joins MountainSeed Appraisal Management
MountainSeed Appraisal Management, which serves community and regional financial institutions, announced last week that Lisa Scott has joined the company’s sales division. Scott was previously the national sales manager for Valuation Management Group. …
Investors Can Trim Losses by Discriminating Between Servicers: Report
The ratings agency Standard & Poor’s says investors can cut their losses by basing servicer selection on key performance metrics of default management. The company has come up with a new method to assess residential mortgage servicer performance that l…
JPMorgan Posts $19B Annual Profit Despite Housing Hangover
JPMorgan Chase kicked off the earnings reporting season for major U.S. lenders on Friday with its announcement that the company earned a record profit of $19 billion for the 2011 fiscal year. The numbers still failed to meet analysts’ expectations, and…
Veterans Lender Services and LRES Corporation Announce Partnership
LRES Corporation has teamed up with Veterans Lender Services to form a new partnership known as VLS/LRES. As the first nationwide minority and service disabled veteran-owned asset management joint venture, it will provide financial institutions with as…
Foreclosure Starts Decline on West Coast
West coast states saw a decline in foreclosure starts in December, according to new data from the research firm ForeclosureRadar. In fact four of the five states tracked by ForeclosureRadar’s monthly survey saw double-digit declines. The exception was …
New Michigan Laws Make Mortgage Fraud a Felony
Michigan is taking a strong stand on mortgage fraud. New state laws that went into effect at the start of the year have redefined mortgage fraud in the eyes of the law and outline strict consequences for perpetrators. Residential mortgage fraud is now …
Gateway Mortgage Group Launches Default Services Division
Gateway Mortgage Group is a privately held mortgage bank headquartered in Tulsa, Oklahoma, which provides conventional, Federal Housing Administration (FHA), and Veterans Affairs (VA) loans through 50 retail branches nationwide. The company announced T…
