NetMore America, Inc., Walla Walla, Wash., a fast growing mortgage banking firm, has named David Shirk chief information/compliance officer. According to the company, Mr. Shirk brings 20 years of experience to the newly created position. For the fiscal year ending Sept. 30, NetMore originated more than $1 billion in new home mortgages - a 300% increase compared to the same period in 2008. For fiscal year 2010, the mortgage banker is projecting loan production of $1.3 billion to $1.5 billion. According to the Quarterly Data Report, NetMore ranks 75th among all home funders.
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About 43% of Americans upgraded their homes last year, and 33% plan to remodel in the next year, according to a recent survey from Redfin.
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Sun Belt states saw a noticeable surge in liens filed last year, with Florida accounting for 17% of the national total, according to Benutech.
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CEO Tim Spence said folding in the acquired bank has gone to plan so far, but the biggest point of risk is still on the horizon.
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Surge, which claims to serve some of the nation's larger wholesale players, said the lender's behavior was reminiscent of its spat with Black Knight.
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Questions about the single-report option and whether VantageScore should be introduced before FICO 10T arose during a hearing on broader legislative proposals.
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SecurityNational Mortgage Co. alleges that the larger competitor facilitated the mass resignation of its staff from Glendale and Scottsdale offices.
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