Tag Archives: Lenders & Servicers

Home prices rose just slightly over the month of September, demonstrating a 0.1 percent increase from August, according to Lender Processing Services' Home Price Index, which analyzes home prices in more than 15,500 ZIP codes each month. The modest increase lines up with the latest S&P/Case-Shiller Home Price Index, which came in under expectations. While the 0.1 percent increase is slight, LPS does report more significant change on a yearly and year-to-date basis.

In California, WFG Lender Services (WFGLS) is welcoming a new senior leader. The title insurance and real estate services company recently announced that Jason Schmidt has been named SVP of closing operations.

Despite another month of home price improvement, the housing sector stumbled in September as prices increased in 13 of the 20 cities covered in the monthly Standard & Poor's/Case-Shiller Home Price Index. The month-over-month September gain was weaker than in August, when prices rose in all cities surveyed.

Interthinx's mortgage fraud index dropped to 137 in the third quarter of this year, down 7.7 percent from the previous quarter and 4.5 percent from the same quarter a year ago. Two states--California and Florida--accounted for more than half of the very high risk metros. The number of metro areas considered "very high risk" increased by one in Florida, bringing the state to 17, while California's total stayed flat at 19. Merced, California, led as the riskiest metro, and the state held six out of the top 10 metros most at-risk for fraud.

Standardization and stability brought on by regulation will pave the way for a bright future for mortgage banking, FBR speculates.

Originations for one- to four-family homes have risen steadily over the year, yet refinances made up a bulk of the activity recorded to date.

After serving as chairman of the Securities and Exchange Commission (SEC) for nearly four years, Mary L. Schapiro announced Monday she will step down on December 14. Schapiro was appointed as chairman by President Obama in January 2009 and was sworn in by the end of the month after receiving unanimous confirmation from the Senate.

Smithfield & Wainwright is teaming up with Marshall & Swift/Boeckh to launch a new, automated solution for evaluating properties and resulting portfolios of mortgage loans. Releasing the Residential Asset Monitoring (RAM) module, the companies' initiative will give banks and lenders a more comprehensive, "forward-looking" method for assessing the value of residential real estate and, ultimately, their portfolio health and compliance procedures.

Though the expansive estate is not yet officially on the market, Curbed.com is reporting that the former residence of Bob Hope will soon list for an estimated $45 million. Located in Palm Springs, California, the 17,500-square-foot mansion has more than one claim to fame, having been designed by well-known architect John Lautner.

LendingTree, LLC, a subsidiary of the North Carolina-based Tree.com, announced it has reached a settlement in its patent infringement lawsuit against Internet marketing company QuinStreet, Inc. The lawsuit concerned LendingTree's patent relating to coordinating loans over the Internet.