Ronald D. Rice has been named director of operations at Houston-based Stewart Default Solutions, a wholly owned subsidiary of Stewart Mortgage Information.Mr. Rice will report to SDS president C. Alan Paylor. He was most recently chief operating officer of the Houston office of Barrett Burke Wilson Castle Daffin and Frappier LLP, where he was a leader of the firm's Houston bankruptcy division. Mr. Rice previously served as vice president of loan administration for Bank United, focusing on default management, real estate owned, and outsourcing relationships. He was also vice president of loan servicing at Mellon Mortgage, and senior vice president and servicing manager at North American Mortgage Co. SDS can be found online at http://www.stewartdefaultsolutions.com.
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While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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