Tag Archives: Attorneys & Title Companies

Nichole Guthneck will help to lead Guaranteed Home Mortgage Company as its newly-appointed division leader, the company announced. In her role at Guaranteed, Guthneck is responsible for training, hiring, oversight, marketing, and policy for Guaranteed Direct, the firm's web-based residential mortgage platform.

First-time claims for unemployment insurance edged up by 4,000 to 367,000 for the week ended September 29, the Labor Department reported Thursday. The previous week's report was revised upward to 363,000 first time claims from the originally reported 359,000. Although initial claims appear to have plateaued (occasional weather-related spikes notwithstanding) first time claims fell in only five weeks during the third quarter, with a wide range: As high as 388,000 in the week following the July 4 holiday week and 385,000 in each of the two weeks following Hurricane Isaac, but as low as 352,000 when the quarter began.

Tree.com, Inc., and LendingTree, LLC, are welcoming a new senior leader to their ranks. The entities recently announced that Nikul Patel has been appointed as senior vice president of products.

When the September employment situation report is released Friday, one number will loom large: Not the number of new payroll jobs--expected by economists surveyed by Bloomberg to be about 113,000├â┬ó├óÔÇÜ┬¼├óÔé¼┼ôand not the unemployment rate (expected to be 8.1 percent), but 386,000. That's the number of jobs added to the nation's payrolls not by employers, but by the Bureau of Labor Statistics in its annual "benchmarking" of payroll data.

Mortgage delinquency rates fell in August as prepayment rates shot up, Lender Processing Services (LPS) revealed. LPS' August Mortgage Monitor report showed a national delinquency rate of 6.9 percent, consistent with the company's earlier first-look data. Delinquencies were down 2.3 percent from July and 10.6 percent from their January 2010 peak. The drop in delinquency was accompanied by a significant boost in prepayment rates, hitting an annualized rate of nearly 25 percent--a level not seen since 2005.

Commercial mortgage-backed security (CMBS) delinquencies have posted substantial declines over the past two months, according to Trepp.

Ocwen will buy the Dallas-based servicer and originator from private equity firm WL Ross & Co. The breakdown for the transaction includes $588 million in cash and $162 million in Ocwen convertible preferred stock. Atlanta-based Ocwen won't need to raise additional equity capital to complete the transaction.

In her first monthly report as California Monitor, Katherine Porter described the servicers' efforts to reform their practices before the October 2 deadline.

Radian Guaranty, Inc., a private mortgage insurer and subsidiary of the Radian Group, announced it will reward current insured borrowers through the Responsible Homeowner Reward program, which is administered by Loan Value Group LLC, a company founded in 2008 to provide borrower incentives to protect investors and servicers.

Mortgage applications saw increased activity in the last week of September, the Mortgage Bankers Association (MBA) reported.