Technology

Sterling Financial, Spokane, Wash., reported that first-quarter net income rose 146% from the same period last year, to $13.3 million, due primarily to growth in loan balances, lower funding costs and improved asset quality.

Ellie Mae said that Cathleen Schreiner Gates has joined the company as senior vice president of sales and client services.

Freddie Mac purchased $42 billion of mortgages from its seller/servicers in March, its strongest acquisition month since the refinancing boom of late 2010.

National home values experienced their largest monthly gain since May 2006 by increasing 0.5% in March, according to Zillow’s Home Value Index.

Mortgage applications fell by almost 4% for the seven-day period ending April 20 after a brief week of improvement, according to new figures compiled by the Mortgage Bankers Association.

ISGN Corp., Melbourne, Fla., hired Jennifer Fulks and as associate general counsel with a focus on regulatory compliance, corporate compliance, ethics, risk management and operational compliance.

BOK Financial, Tulsa, Okla., reported first-quarter earnings of $83.6 million, up from 29% from a year earlier, as credit costs lowered and mortgage banking revenue soared.

New home sales in January and February were much higher than originally reported, taking some steam out of transactions for March, which fell 7% from the prior month.

The Consumer Financial Protection Bureau is relying on an emphasis on standardized data to manage complaints it receives about mortgage industry participants and other rule making and regulatory activities.

Until recently, the deterioration of properties didn’t pique the interest of servicing agencies until it was clearly designated REO and, until recently, this was all well and good. But the winds have changed.