Technology

A new study from FICO revealed that banking professionals are raising their expectations for loan repayments and credit availability. The survey, which was conducted by the Professional Risk Managers' International Association (PRMIA) on behalf of FICO, showed a reversal in sentiments among U.

Massachusetts-based lender Mortgage Master, Inc., has hired a new leader for its sales division. The company recently announced the appointment of Donald Henig as Mortgage Master's national sales director.

Weak economic news out of Europe and comments from the Federal Reserve chairman last week conspired to keep interest rates for mortgage loans near all-time lows ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô and flat ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô for another week. Real estate Web site Zillow found the 30-year fixed-rate mortgage hovering at 3.81 percent, down from 3.88 percent last week. The 15-year loan averaged 3.04 percent, even while the 5-year and 1-year adjustable-rate mortgages hit 2.57 percent. The Web site found mortgage rates zigzagging in states across with the union, with those in California and New York each falling furthest at a clip of 11 basis points.

V.I.P. Mortgage is increasing its footprint in Tucson, Arizona. The company recently announced that it conducted in excess of $113 million in mortgage loans during 2011, and V.I.P. also noted that it is continuing to add home loan specialists within its Tucson branch, hiring nearly a dozen personnel last year alone. The company has merged two of its loan groups in the city, combining V.I.P. teams led by Rob Purvis and Jim Kaiser. Currently, V.I.P. has a total of 35 employees in Tucson.

Mortgage Contracting Services (MCS) has been selected by Gateway Mortgage Group as the company's partner for property inspection and preservation needs. Targeting enhanced efficiency for the property-related management of its servicing portfolio, Gateway chose Florida-based MCS for streamlined support.

In Texas, Churchill Mortgage has added two industry professionals to bolster mortgage loan production in its Houston branch. The company recently announced that Peter Oreziak and Mike Gonzalez have been hired as home loan specialists. Prior to joining Churchill, Oreziak accrued more than nine years of experience in the mortgage business, and he has previously been active in customer service and transaction protection initiatives. Oreziak's new role for Churchill encompasses the provision of client guidance throughout the lending process from application to funding.

In Michigan, United Wholesale Mortgage is adding a new mortgage loan product to its portfolio, recently announcing that the company would begin offering loans from the U.S. Department of Agriculture. UWM seeks to enhance its existing government platform of Federal Housing Administration and Veterans Affairs loan programs through the extension of USDA loans. The USDA products from UWM will be comprised of 30-year fixed rate, 0 percent down mortgages with finance closing costs, competitively low rates, and financed appliances with minimal restrictions.

Recently released findings from Equifax's March National Consumer Credit Trends Report and CreditForecast.com revealed that originations are on the uptick, with notable increases in the sub-prime segment across all lending sectors. The survey, which evaluated activity for credit cards, auto finance, consumer finance, and student loans, showed that home financing balances fell to $8.7 billion during February. Total consumer debt in the U.S. stood at $11 trillion for February, representing an 11 percent drop since highs seen in the fourth-quarter of 2008.

The U.S. job market has continued to make headlines during recent months as high unemployment numbers persist in many areas around the country. A study by Accounting Principals, an accounting and financial staffing firm, combined statistics gleaned from the company's internal data, as well as information on the nation's current volume of jobs openings and general economic conditions in the regions observed to establish which cities are likely to be most lucrative for job seekers in the finance field.

Lenders utilizing the MarksmanLMP platform from Mortech, Inc., are set to gain an advantage when analyzing a borrower's credit score. The company recently announced that it would add a credit report solution to the technology module that will provide faster access to information on potential consumers.