Tag Archives: Attorneys & Title Companies

Carrington Mortgage Services, LLC, is bolstering its wholesale lending operations, recently hiring nine new employees for the company's sales team. Adding three sales leaders, as well as six account executives, Carrington hopes to continue the expansion of the company's mortgage lending division.

Arizona-based Meritage Homes has reported second-quarter data that shows eight consecutive months of year-over-year increases in orders for the company. In addition to home orders numbers, Meritage's recently released survey also catalogs the company's closings and backlog figures. According to Meritage, home orders reached 1,353 units for the quarter ended June 30, representing a 49 percent rise year-over-year. Home order value shot up by 63 percent versus 2011 numbers, totaling $385,829.

Wells Fargo wrote a check for $175 million on Thursday to settle claims that independent brokers drove a disproportionate number of otherwise creditworthy minority borrowers to higher-priced variable mortgages in the lead-up to the financial crisis. Wells Fargo denied any of the claims and took action Thursday to stop originating loans with independent mortgage brokers by Friday, a move that it billed as one separate from the settlement and ensuing controversy. The lender will work to close and process existing applications after Friday.

Mortgage origination fraud may be on the decline, but incidences of collusion appear to be trending up, according to a report released Wednesday by LexisNexis Risk Solutions. After noticing a rising trend in collusion, LexisNexis created a new index specifically to measure incidences of collusion. Collusion has been on the rise since 2009, according to Tim Coyle, senior director of real estate and mortgage solutions at LexisNexis. LexisNexis also observed collusion reports on properties experiencing 50 percent to 95 percent price depreciation.

California Attorney General Kamala Harris announced Wednesday that Gov. Edmund G. Brown signed two provisions of the much-debated Homeowner Bill of Rights into law. The Homeowner Bill of Rights so far consists of a series of related bills containing provisions that prohibit certain practices by lenders that have been attributed to the state├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós foreclosure crisis. The new law bans robo-signing, the act of fraudulently signing mortgage documents without review.

Aspiring Material Girls take note - Madonna's former Beverly Hills residence can be yours for $18.495 million. The recently listed 1940s estate has also played home to mega-watt stars including Betty Grable and Diane Keaton, and we're sure they;re very thankful that the walls of the seven-bedroom pad cannot talk.

Americas Insurance Company is making the grade, earning an A from Demotech, Inc. The company recently announced its decision to award Americas Insurance with the prime financial stability rating.

First-time claims for unemployment insurance fell 26,000 to 350,00 in early July, reaching the lowest level since March 2008, the Labor Department reported Thursday. The prior week's total was revised up to 376,000 from the originally reported 374,000. Economists surveyed by Bloomberg had expected a modest decline to 375,000 initial claims. Continuing claims ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reported on a one-week lag ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô fell 14,000 to 3,304,000 from the prior week's 3,318,000, revised from the originally reported 3,306,000.

Florida-based CreditBureau Services filed a suit Tuesday against Experian, the national consumer credit data repository, and CoreLogic, Inc., the nation's largest credit report reseller, in the U.S. District Court for the Southern District of Florida for alleged violations of the antitrust laws. The suit claims that Experian and CoreLogic sought to deny smaller credit agencies access to Experian's mortgage credit information for "tri-merged" mortgage credit reports. Banks and investors require tri-merged reports to extend credit for home mortgages.

Radio icon Don Imus and his wife, Dierdre, have listed their Connecticut property for $19.9 million. RealEstalker reports that Imus has taken the waterfront estate on and off the market multiple times, dating from 2009, and when it was originally put up for sale, the Greco-Georgian property carried a much higher price tag of $30 million.