Robert N. Pruett has been named executive vice president and outsourcing relationship manager at EMC Mortgage Corp., Irving, Texas.Mr. Pruett was most recently vice president of international initiatives, business process outsourcing, and global mortgage origination services at Ocwen Financial Corp. Before that, he was managing director at RP Consulting in Scottsdale, Ariz., executive vice president and chief operating officer of Commac Inc. in Phoenix, and president/chief executive officer/chief financial officer of Matrix Financial Services in Phoenix. In related news, EMC also announced the appointment of Charles E. "Rick" Russell as senior vice president and chief litigation counsel. Mr. Russell was formerly deputy general counsel for regulatory and compliance matters for American General Finance Inc. and senior vice president in charge of litigation for Associates Financial Services Co.
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The Mortgage Bankers Association is recommending the option for Fannie Mae and Freddie Mac borrowers with strong credit with a tri-merge for others. Here's why.
April 23 -
Foreclosure auctions available jumped on both a quarterly and yearly basis, but the sales rate did not move in tandem, according to a new report.
April 23 -
More than a third of sellers have mortgage rates below 5%, yet still plan to list their homes this spring, according to a survey from Coldwell Banker.
April 23 -
The 30-year fixed is still over 20 basis points higher than its February bottom, but fell 7 basis points this past week on Iran peace hopes, Freddie Mac said.
April 23 -
An uptick in problem loans within the heavily scrutinized office sector pushed down share prices at Rhode Island-based Washington Trust and Bank OZK in Little Rock, Arkansas, even though both banks reported solid profits.
April 22 -
Credit risk transfers, a means by which banks can move risk off their balance sheets, earned considerable bipartisan support in a House Financial Services subcommittee hearing Wednesday.
April 22











