Servicing

Mortgage Returns, a provider of customer relationship management (CRM) technology and automated marketing solutions, has launched its new Storefront marketing solution, an enhanced feature of the company's CRM system.

JPMorgan Chase will soon welcome Dana Deasy as its new CIO. He brings more than 27 years of experience to his new role.

After releasing a mortgage origination forecast of $349 billion for the third quarter earlier this week, FBR Capital Markets revised its estimate to between $400 billion and $420 billion for the quarter Wednesday. FBR anticipates a rise in refinances under the Home Affordable Refinance Program (HARP) as small specialty servicing shops are "still playing catch-up" from the recent boom. Meanwhile, larger players are relinquishing some of their market share, according to analysts at the investment bank.

Clayton Holdings LLC, a provider of loan due diligence, surveillance, and consulting services for the mortgage industry, announced that it has expanded its securitization group in preparation for the private market's return.

Atlanta-based Equifax announced the launch of a new tool designed to enhance underwriting and help lenders make predictive decisions based on consumer behavior.

Founded by what used to be the IT staff at National Default Exchange (NDeX), assured360 fully owns and operates two geographically diverse Tier 3 data centers: one in Farmington Hills, Michigan, and the other in Carrollton, Texas.

A new index from the National Association of Home Builders (NAHB) and First American suggests that about one in seven housing markets have returned to or surpassed their pre-recessionary levels of activity. According to the association, the index registered a score of 0.85 nationwide, indicating that the national housing market is running at 85 percent of normal activity. Of the nearly 350 metro markets examined, 52 have reported levels of activity at least equal to those before the recession hit.

In an effort to keep the mortgage market running as smoothly as possible, Freddie Mac issued Monday temporary guidance for lenders to continue approving loans for eligible borrowers during the federal shutdown. Dave Lowman, EVP of single-family business at the GSE, said the bulletin is intended to give lenders the certainty to continue approving and delivering new mortgages that meet Freddie Mac guidelines to eligible borrowers, such as federal employees and contractors, during the temporary shutdown.

In California, Stearns Lending, Inc., appointed Kathleen L. Vaughan to the newly created role of EVP of national third-party production.

Investment bank FBR's third-quarter mortgage originations estimate is $349 billion, a 29 percent decline over the quarter. The abating refinance market is a major drag on the mortgage industry, and, "[w]e do not believe that there will be a strong enough increase in the purchase market this quarter to offset the loss in refi volume," FBR stated. FBR estimates a 46 percent decline in refinances in the third quarter and a 2 percent rise in purchase originations.