Tag Archives: Agents & Brokers

Radian Guaranty Inc. released data for primary mortgage insurance delinquencies for July, revealing growth in primary new insurance and a drop in delinquent loans. According to the release, Radian wrote $3.37 billion in primary new insurance for the month of July, an increase from $3.08 billion in June. In addition, loan delinquency was down in July, with primary delinquent inventory falling to 97,012 from 98,450 the month before. This release followed a more dismal earlier report on the company's second-quarter financial earnings.

The Mortgage Bankers Association is welcoming a new partner, recently announcing that United States Appraisals has joined the group's membership. United States Appraisals' standing with the District of Columbia-based MBA is effective immediately. United States Appraisals' standing with the District of Columbia-based MBA is effective immediately. "We are very pleased to align ourselves with an organization like the MBA," stated Aaron Fowler, president of United States Appraisals.

The Office of Mortgage Settlement Oversight recently chose five new firms to serve as its eyes and ears on the ground as the $25 servicer settlement grinds forward. The new secondary professional firms ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô including BKD, LLP; Baker Tilly Virchow Krause, LLP; Crowe Horwath, LLP; Grant Thornton, LLP; and McGladrey, LLP ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô will assist settlement monitor Joseph A. Smith, Jr., over the next three and a half years. Each firm will assist BDO Consulting, a division of BDO USA, LLP, and the primary professional firm responsible for evaluations.

Genworth Financial's U.S. Mortgage Insurance (USMI) division has initiated two key management changes. The company recently announced the promotion of John Clifford to senior vice president of commercial operations, as well as the return of Matt Young, who will rejoin USMI as its senior vice president of sales.

Even television stars are feeling the impact of the housing crisis. In Malibu, California, former soap opera star Jackie Zeman is fighting off foreclosure, recently listing her posh pad for $2.699 million.

Though the United Kingdom is currently in the spotlight as host for the 2012 Olympic Games, British lenders have their own reason to celebrate this summer, following the release of a study that shows a significant uptick in first-time homebuyers. The Council of Mortgage Lenders in Manchester, England, is reporting that the number of first-time mortgage loan recipients in the country is up 22 percent year-over-year.

Strong employment reports boosted mortgage rates back up for the second week in a row, Freddie Mac reported Thursday. The GSE's Primary Mortgage Market Survey shows the 30-year fixed averaging 3.59 percent for the week ending August 9, an increase from 3.55 percent the previous week. The 15-year fixed also posted gains, averaging 2.84 percent for the week, up from 2.83 percent a week ago. The 5-year adjustable-rate mortgage followed, increasing to 2.77 percent from 2.75 percent the week before.

Amherst Securities Group, LP, is welcoming a new leader for its fixed income securities division. The company recently announced the appointment of Dan Derby as vice president of the unit.

First time claims for unemployment insurance fell 6,000 for the week ended Aug 4 to 361,000, the Labor Department reported Thursday. Economists surveyed by Bloomberg had expected 367,000 initial claims. The prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós total was revised up to 367,000 from the originally reported 365,000.

Following Tuesday├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós news that Freddie Mac will not require a draw from Treasury this quarter, Fannie Mae announced the same on Wednesday in its second quarter earnings report. This is the second consecutive quarter that the GSE has not required a draw from Treasury. Before this year, Fannie May required a draw from Treasury for the previous 11 consecutive quarters. The GSE reported a net worth of $2.8 billion with comprehensive income in the second quarter reaching $5.4 billion. This is up from $2.9 billion in the first quarter of this year.