Servicing

ValuTrac, a software solutions company catering to the appraisal management and mortgage lending industry, hired Hank Pruett as VP of sales. Pruett has nearly 25 years of experience in appraisal management, title issues, and client relations and is knowledgeable in all types of appraisals, both residential and commercial.

CFPB Director Richard Cordray spoke to an audience in Phoenix, Arizona, to praise what he called the bureau's "back to basics" approach for the mortgage market.

Wingspan Portfolio Advisors, a diversified mortgage services company headquartered in Texas, named longtime industry expert Arleen Scavone to the newly created post of COO.

With mere hours to go before major regulatory changes sweep the industry, servicers might be wise in taking one more look at how the new rules will affect them and what they can do to stay ahead.

Churchill Mortgage's West Coast presence continues to expand with the opening of a new office in Orange, California, the company announced.

The Mortgage Bankers Association's (MBA) sales team has added Barbara Hanson as director of education sales, the group announced.

While most larger servicing shops have made a great deal of progress ahead of Friday's new industry regulations, a report from Fitch finds smaller companies still have a number of challenges to meet. Fitch acknowledges that many independent and non-bank servicers have adapted to the technological advances made in the industry, but compliance with the new rules will mean more recordkeeping and infrastructure improvements that could mean higher costs for these smaller firms.

In the Dallas area, Matt Martin Real Estate Management LLC (MMREM) welcomed Jo Ann Kruse as COO of MMREM and its subsidiaries.

Prospect Mortgage announced its acquisition of the Diamond Mortgage Group, bringing to Prospect a group of dedicated mortgage professionals serving Southeastern Connecticut.

WFG Title Company of California announced the hiring of a new SVP and Orange County manager. The company named Bryan Kelley in the role.