Tag Archives: Processing

Williston Financial Group (WFG), the parent company of WFG National Title Insurance Company and WFG Title Insurance Company, announced it is extending its southern California presence with the acquisition of ITC Holdings, Inc., the parent of Investors Title Company.

Greystone, a leading national provider of multifamily and commercial mortgage loans, announced it is teaming up with The Bassuk Organization to form the Greystone Bassuk Group.

The implementation of the Basel III capital rules may be postponed beyond the start of 2013, according to a joint statement released by the Office of the Comptroller of the Currency, the FDIC, and the Federal Reserve. The announcement follows a comment period during which many trade organizations and institutions expressed apprehension about the new requirements.

Prospect Mortgage, LLC hired an industry veteran to lead the company's plans to grow its lending and loan servicing capabilities. Amy Brandt was selected as president of correspondent lending and servicing. In her new role, Brandt will help build Prospect's national correspondent lending platform and develop its loan servicing potential.

New private mortgage insurance hit a roadblock in September, according to Mortgage Insurance Companies of America's (MICA) monthly statistical report. MICA's member companies--Genworth Mortgage Insurance Corporation, Mortgage Guaranty Insurance Corporation, and Radian Guaranty Inc.--reported more than $398.6 billion in primary insurance in force for the month. That volume is up from August's $397.5 billion. While insurance in force increased, new insurance slowed down.

The state of the housing market continues to improve though recovery remains fragile, according to the October Housing Scorecard released Friday by the Obama administration. Along with the scorecard, the administration released special instructions for those administering the Making Home Affordable Program in areas affected by Hurricane Sandy. In areas directly impacted by Hurricane Sandy, servicers must offer at least three months forbearance to any homeowners eligible for Making Home Affordable who request forbearance.

Gateway Mortgage Group, a privately held mortgage company, is expanding into the Florida market with the opening of a new retail branch in Winter Park.

The housing market may close out the year with a whimper, according to data in Redfin's Real-Time Demand Pulse for November.

A lower supply of inventory and fewer distressed sales led to stronger home price gains across the country, the National Association of Realtors (NAR) revealed in a recent report. On a national level, the median price for existing single-family homes increased 7.6 percent to $186,100 in the third quarter of this year compared to last year, the strongest annual gain since first-quarter 2006. The median price for existing homes improved in 120 out of 149 areas since last year.

While admitting that creating mortgage lending regulations that prevent abuse without over-burdening community banks is "challenging," Federal Reserve governor Elizabeth A. Duke suggested Friday that policymakers "abandon efforts for a one-size-fits-all approach." Speaking before the Community Bankers Symposium in Chicago, Duke said the Federal Reserve has received a large volume of comments from community banks expressing concern over the proposed regulatory capital requirements.