Secondary Market

The Mortgage Bankers Association (MBA) swore in Debra Still, E.J. Burke, and Bill Cosgrove as chairs at the association's 99th Annual Convention & Expo in Chicago, MBA announced Monday.

Home values in the United States rose 1.3 percent in the third quarter, marking the fourth straight quarter of increases.

Government agencies have restructured for better risk protection and to position themselves to climb out of the mortgage and housing crisis of 2006-2009.

The mortgage lending division of Carrington Mortgage Services, LLC was inducted into the Ellie Mae Hall of Fame for mortgage technology. Carrington was specifically recognized for the Best Adoption of Automation at Ellie Mae's Encompass EXPERIENCE 2012 National User Summit due to the company's customization of Ellie Mae's DataTrac mortgage management software.

NewDay will work with RenovatingHope, a nonprofit organization focused on improving homes for active military members and veterans, to improve the home of a decorated veteran who has served more than 20 years in the military with overseas tours during Operation Desert Storm and recently in Afghanistan and Iraq.

Compliance software developer DocMagic announced Tim Anderson has been hired to head the firm's new eServices Division. An industry vet, Anderson is a well-known advocate of electronic commerce and eMortgages. He comes to DocMagic with more than 30 years of experience on both the lender and the vendor side of business.

The Federal Reserve's commitment to keep interest rates low until 2015 isn't doing much to persuade consumers to borrow.

The FDIC's deposit insurance fund got a little bit lighter Friday as three more banks fell, the corporation announced. GulfSouth Private Bank of Destin, Florida; Excel Bank of Sedalia, Missouri; and First East Side Savings Bank of Tamarac, Florida, were all liquidated, bringing the national failure tally to 46 so far in 2012 and costing the FDIC's fund a combined total of approximately $86.1 million.

Joining an elite list of the nation's most expensive listings, Carolwood Estate has hit the market for a whopping $90 million. The 35,000-square-foot home, located in Los Angeles' sought-after Holmby Hills area, offers buyers more than just luxury, because the property boasts history as well, having once served as Walt Disney's residence.

National independent mortgage lender United Shore Financial Services, LLC (USFS), is welcoming two new corporate leaders. The Michigan-based organization, parent company of United Wholesale Mortgage, recently added Tim Forrester as chief financial officer for USFS and named Kristin Hammond as EVP of capital markets.