Tag Archives: Attorneys & Title Companies

Residential Capital, LLC (ResCap) announced it has completed the sale of its servicing platform assets to Ocwen Loan Servicing, LLC.

Walter Investment Management Corp. has signed a definitive agreement to acquire Ally Bank's business lending operations.

Redfin's Real-Time Price Tracker, which tracks prices, sales, and inventory, shows home sales were up in January 12 percent year-over-year.

Fifty-four Senate Democrats and Independents issued a letter to the president last week defending the Consumer Financial Protection Bureau (CFPB) and pledging to support the re-appointment of current director Richard Cordray. In their letter, Cordray's Senate supporters decried the opposition's efforts as an attempt to "weaken the CFPB through structural changes" from "a minority of Senators [who] do not support the existence of the agency." The issue of Cordray's nomination comes at a pivotal time for CFPB.

Chicago's Covenant Bank is the third FDIC-insured institution to close this year, the agency announced. According to a release from FDIC, Liberty Bank and Trust Company in New Orleans has agreed to assume all of the deposits of the failed bank and will purchase essentially all of the assets.

Ally has satisfied its consumer relief obligations required under last year's National Mortgage Settlement (NMS), according to settlement monitor Joseph Smith Jr.

Citing changes in regulatory reform due to Dodd-Frank as the driving factor, Edward Jones Mortgage, based in St. Louis Park, Minnesota, will close its doors permanently in April. The office has been writing residential mortgages since 1998 and ceased writing them in January.

In Pittsburgh, PNC Financial Services Group's board of directors elected president William S. Demchak as director and announced that he will succeed chairman James E. Rohr as CEO. The board held the election in response to Rohr's desire to step down as CEO at the company's 2013 Annual Meeting of Shareholders on April 23 and his intention to retire from the company and the board next year.

Ellie Mae, a leading provider of enterprise-level, on-demand automated solutions for the residential mortgage industry, announced that Jonathan Corr has been promoted to company president. In his role, Corr will be responsible for managing Ellie Mae's day-to-day operations. He will also continue to serve as COO and will keep reporting to Sig Anderman, the company's chairman and CEO.

Well housing activity remains near historical lows, Freddie Mac is taking a more optimistic view: There's still plenty of room to grow. This glass-half-full viewpoint was reflected in the GSE's forecast for housing in 2013, especially for housing starts, which are projected to increase to 950,000 units this year--22 percent higher than 2012 levels. The GSE also expects prices to increase 3 percent in 2013 and 2014, while sales are forecast to rise to an annual rate of 5.45 million and 5.80 million, respectively.