Tag Archives: Attorneys & Title Companies

The Debt Exchange recently released its commercial loan report for January, and the findings indicate that loan values are continuing to rise steadily, following the trend of the past 12 months. According to data from DebtX, values for commercial real estate loans stood at 79.

Accurate Document Service, Inc., has launched a new national platform. A long time corporate partner of ADS, eLynx announced that the document prep company will begin creation and delivery of closing documentation on a nationwide basis.

Community financial institution, Severn Savings Bank has named a new chief financial officer. The Maryland-based bank recently promoted Stephen W. Lilly to the leadership role.

The Justice Department has reached a deal with Flagstar Bancorp, Inc. The agency recently announced that the two entities have struck an agreement that pertains to underwriting practices related to loans insured by the Federal Housing Administration and HUD. FBC will revise its fourth quarter and full year financial results for 2011 as per the terms of the transaction. Additionally, FBC will reaffirm its forward looking statements for 2012, made by the company during its earnings call for fourth quarter findings in 2011.

The federal government leveled charges against Bank of America Monday that the mortgage company wrongfully discriminated against three borrowers with disabilities. HUD filed suit under the False Claims Act, alleging that Bank of America requested proof of disability from borrowers and Social Security income information after denying their qualifications for mortgage loans. In a sign of the growing authority for working groups, HUD said that it would hand off the investigation to the Justice Department and Federal Financial Fraud Enforcement Task Force, which will assign it to a group.

Lenders participating in LendingTree's network have a new platform to help raise lead volume. The national online lending exchange recently launched the Predictable Volume Program for qualified network members.

On Capitol Hill, the American Guild of Appraisers is petitioning the Federal Reserve Board and the Consumer Financial Protection Bureau to overturn a recently adopted rule that stands in opposition to regulations contained in the Dodd-Frank Act. The AGA wrote the organization's plea based on the assertion that the Fed's new rule poses a threat to the viability of professional appraisal practice and undermines the legitimacy of real estate appraisals. The legislation in question was put in place last year by the Fed.

The Federal Housing Finance Agency has released its data from the fourth quarter of 2011, and findings from the government organization├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós survey show that U.S. home pricing was slightly on the decline during the period. The FHFA├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós seasonally-adjusted, purchase-only house price index (HPI) demonstrated a 0.1 percent drop in pricing between quarters, and year-over-year, the statistics displayed a decrease of 2.4 percent. In spite of the national trend, however, HPI findings from the FHFA indicated that 27 states and the District of Columbia recorded a rise for the fourth quarter of last year.

Releasing its February Home Value Forecast, Pro Teck Valuation Services revealed research that indicates that many core based statistical areas (CBSAs) around the U.S. are showing positive momentum. While Pro Teck's report acknowledged market data that demonstrates weak or soft status for many CBSAs, the company's recent statistics point toward a slow improvement for negative conditions throughout the country. Ranking CBSAs from "hot" to "distressed," Pro Teck also rolled out a new evaluation system with its February survey.

Gateway Mortgage Group has appointed a new chief credit and compliance officer. The privately held mortgage company recently named industry veteran Molly Reed Davis to the leadership position.