Mortgage Lending News     Click to continue . . .

  •   First American Corporation appoints Nallathambi and Piszel to lead its new Information Solutions Group
The First American Corporation has announced the appointments of Anand K. Nallathambi as chief executive officer and Buddy Piszel as chief financial officer of the company`s Information Solutions Group. Nallathambi, who was appointed president and chief operating officer of the Information Solutions Group in December 2009, will continue to serve in those capacities. Piszel will continue to serve as the parent company`s chief financial officer. The company`s Financial Services Group will commence a search for Piszel`s replacement as its chief financial officer.
NationalMortgageProfessional.com,NMP Media Services,   03/18/2010

  •   Evolve Bank & Trust opens Texas office
Evolve Bank & Trust has announced the opening of a mortgage loan production office in Carrollton, Texas. This is the first Evolve Bank & Trust Loan Production Office in the Dallas/Ft. Worth metroplex and is expected to employ 20 people. Evolve Bank & Trust currently operates three full-service branches and 10 mortgage loan production offices in 11 states. Lead team members include Frank Cortese (mortgage loan production office manager) and Roy McGregor (production manager) with a combined experience in mortgage lending of 15 years.
NationalMortgageProfessional.com,NMP Media Services,   03/18/2010

  •   Freddie Mac PMMS finds rates average nearly five percent for the week
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.96 percent with an average 0.7 point for the week ending March 18, 2010, up slightly from last week when it averaged 4.95 percent. Last year at this time, the 30-year FRM averaged 4.98 percent. The 15-year FRM this week averaged 4.33 percent with an average 0.6 point, up slightly from last week when it averaged 4.32 percent. A year ago at this time, the 15-year FRM averaged 4.61 percent.
NationalMortgageProfessional.com,NMP Media Services,   03/18/2010

  •   Why mortgage modification isn`t working: The loan adjustment success rate is just one percent
Last year, more than two million Americans lost their homes to foreclosure. This year, that number is expected to be even higher. Foreclosure takes a huge toll on homeowners and their families, and sends shockwaves throughout the economy. Yet since the start of the recession in 2007, more than five million homes have been taken back by lenders. The Center for Responsible Lending (CRL) estimates that as many as 13 million more homes could fall into foreclosure over the next five years.
NationalMortgageProfessional.com,NMP Media Services,   03/18/2010

  •   PHH Mortgage utilizes UTLS Technology Service`s product for streamlining HAMP
PHH Mortgage, a subsidiary of PHH Corporation is now utilizing UTLS Technology Service`s BackInTheBlack Fannie Mae-Certified Home Affordable Modification Program (HAMP) Workout Solution in an effort to capture additional process efficiencies and reduce cost. UTLS Technology Services is a subsidiary of UnitedTech Lender Services Inc.
NationalMortgageProfessional.com,NMP Media Services,   03/18/2010

  •   MBA finds commercial and multifamily debt outstanding declined 2.8 percent in 2009
The level of commercial/multifamily mortgage debt outstanding decreased by 1.7 percent in the fourth quarter, to $3.4 trillion, according to the Mortgage Bankers Association (MBA) analysis of the Federal Reserve Board Flow of Funds data. On a year-over-year basis, the amount of mortgage debt outstanding at the end of 2009 was $99 billion lower than at the end of 2008, a decline of 2.8 percent.
NationalMortgageProfessional.com,NMP Media Services,   03/18/2010