Tag Archives: Lenders & Servicers

A Census report released Monday put construction spending at an estimated annual rate of $860.8 billion (seasonally adjusted) in April, a 0.4 percent rise from March's revised estimate of $857.7 billion. Spending on homebuilding was at an estimated yearly rate of $308.3 billion in April, 0.2 percent down from March but 18.3 percent above April 2012. The report is consistent with the National Association of Home Builders' Housing Market Index, which dropped in April as builders contended with low credit availability and rising costs.

VRM Mortgage Services, a leading real estate solutions provider based in the North Texas metroplex, announced the appointment of Ed Hunter as VP of business development.

Fannie Mae's total book of business grew slightly in April, though its mortgage portfolio saw another sizable dip.

The Wisconsin Department of Financial Institutions closed Banks of Wisconsin (Kenosha), FDIC announced Friday. As receiver, the agency entered into a purchase and assumption agreement with North Shore Bank, FSB (Brookfield, Wisconsin) to assume all of Banks of Wisconsin's $127.6 million in deposits and $97.4 million in assets. The remaining assets (approximately $36.6 million) will be retained by FDIC for later disposition.

Though rising mortgage rates may act as a weight on today's increased housing affordability, a report from LendingTree shows down payment percentages continue to decline.

The recent slip in financial corporation profits comes at a particularly critical time for the financial sector, as housing is in the midst of a nascent recovery.

Mortgage Contracting Services (MCS), a national property preservation and inspection company, announced it is teaming up with Pruvan, a Round Rock, Texas-based company that offers a photo app for field-based businesses.

Freddie Mac announced that Richard C. Hartnack, formerly vice chairman and head of consumer and small business banking at U.S. Bancorp, has been elected as a director on the company's board.

The Federal Housing Finance Agency (FHFA) reported a slight bump in contract mortgage interest rates throughout April.

Activity in the private mortgage insurance sector picked up in April, according to monthly statistics from Mortgage Insurance Companies of America (MICA).