Safeguard Properties Inc., a privately held mortgage field services company based in Brooklyn Heights, Ohio, has announced that it will donate $500,000 in disaster relief for victims of Hurricane Katrina.In addition to the relief donation, Safeguard said it has hosted several "industry awareness" conferences calls that drew hundreds of participants, including representatives from the Department of Housing and Urban Development, Freddie Mac, Fannie Mae, the Department of Veterans Affairs, and the Mortgage Bankers Association, as well as numerous lenders, insurance carriers, field services vendors, and financial service institutions. It has offered to continue the conference calls on a regular basis for the duration of the crisis. Safeguard provides services such as property preservation, inspections, valuations, title, and real-estate-owned and asset management services. The company can be found online at http://www.safeguardproperties.com.
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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
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NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
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Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
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The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
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Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
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The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
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