Servicing

Restrained by drops in farm income and sequester-driven cuts in government programs, personal income slipped $5.6 billion in April, while personal consumption spending dropped $20.5 billion, the Bureau of Economic Analysis reported Friday.

360 Mortgage Group, an Austin-headquartered mortgage banker focusing on third-party origination, announced the hiring of three new wholesale account executives who possess a combined total of more than 65 years of mortgage experience.

While banks and lending institutions are nervous about the waves of compliance challenges coming in, NTC says the smartest companies are using regulatory changes as a springboard to grow.

The National Association of Realtors (NAR) reported a disappointing 0.3 percent gain in its Pending Home Sales Index (PHSI) in April.

Another spike in home prices drove Massachusetts sales down for the third straight month in April, according to the Warren Group.

In Florida, ISGN Corporation announced the addition of former Xerox executive Nancy Alley as the company's chief product officer.

Ellie Mae announced that Veterans United has selected Encompass360 as its mortgage management solution.

Lender Processing Services' (LPS) Home Price Index (HPI) averaged $213,000 in March, an increase of 1.4 percent month-over-month and 7.6 percent year-over-year.

FirstClose, an aggregator in mortgage settlement services based in Austin, announced the hiring of Chip Caldwell to manage its Southeast territory.

In Newtown Square, Pennsylvania, GMH Mortgage Services announced a strategic marketing alliance with Realty Executives Boston West. The new partnership will combine GMH Mortgage's lending expertise and new marketing technology platforms with Realty Executives' strong regional brand awareness.