Mortgages

Joseph A. Smith, the former North Carolina banking commissioner who now heads the Office of Mortgage Settlement Oversight, has been touring the West Coast to gauge the servicers' progress by speaking with the folks "on the ground."

Over 1,400 people have registered to attend the 2012 NAMB National show in Las Vegas, the best attendance in years.

There is a lot of attention focused on single-family homes by investors looking for a great cash flow with high appreciation potential over the next few years.

Rumors abound of new jumbo conduits, and there seems to be a little more fire to the smoke than earlier in the year.

Consumers want things done quicker, while regulators want them done right; both will hold the originator responsible.

Is the Federal Reserve gobbling up so much mortgage-backed securities in the secondary market that it’s creating a shortage?

The Federal Housing Administration's Mutual Mortgage Insurance fund potentially loses billions of dollars in premiums due to the loan-to-value cancellation policy.

It would appear that FHA's days of being known as 'the government's subprime lender' are just about over.

Patricia Rauch has joined appraisal technology provider Global DMS in the newly created position of chief operating officer.

The CFPB and FTC have issued joint warnings about misleading advertising. While these warnings generally address apparent shortcomings (e.g. misrepresenting government affiliation), they signal to lenders the importance of reviewing advertising from a compliance rather than merely marketing perspective. In particular, advertisers should review not only the substance of a marketing piece but rather the entirety of a marketing campaign. For instance, a lender should review the likely audience and whether the particular product being advertised is appropriate for that audience. Lenders should take special care when it comes to marketing campaigns that may utilize media outlets that strongly favor one particular racial ethnic gender or age group, or if different products are being advertised to different media outlets strongly associated particular socioeconomic groups

NewDay USA hired Cal Ripken Jr. as spokesperson for its philanthropic activities, community outreach efforts, and internal recruiting and training program.

Three former employees of now defunct Pierce Commercial Bank were sentenced to prison for their roles in a mortgage fraud scheme that contributed to the collapse of the financial institution.

GMH Mortgage, which has been hiring of late, is licensed in 14 states.

Mortgage hiring fell slightly but recruitment is up.

As the deadline for consumers to file a claim under the national mortgage settlement draws closer, they will increasingly turn to nonprofit counseling agencies for advice.

Many professionals are fleeing the REO industry, everyone from servicing shop executives, to specialty providers, to real estate agents.

Sue Allon, CEO and chairman of the firm, confirmed the layoff to National Mortgage News adding that the measure is “due to unforeseen circumstances.”

The Federal Trade Commission has updated its guidelines for anti-identity theft programs.

Increased regulatory scrutiny in recent years has included a greater focus on how mortgage-related assets such as servicing rights are recorded on the books.

The nation’s title insurance underwriters generated $3 billion of premiums in the third quarter.