Tag Archives: Processing

One day after posting better-than-expected├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øalbeit reduced├â┬ó├óÔÇÜ┬¼├óÔé¼┬ØQ3 quarterly earnings, Citigroup announced the resignations of CEO Vikram Pandit and president and COO John P. Havens. Pandit's sudden and unexpected announcement has some analysts and investors baffled. Michael Jones, chairman and chief investment officer of Riverfront Investment Group, LLC, told Reuters he thinks the move raises "red flags everywhere."

Irvine, California-based ICON Residential Lenders announced Sean Finn has joined the company as area sales manager of the Midwest Region for Wholesale. Finn joins the national wholesale mortgage originator and servicer from Wells Fargo, where he had a successful career in sales management.

According to FNC's Residential Price Index, home prices rose in August for the sixth consecutive month, increasing at a seasonally unadjusted rate of 0.3 percent from July. While August's month-to-month increase is modest compared to the months prior, it still represents a peak since early 2011. FNC said the increase is "consistent with signs of strengthening market conditions that are led by rising existing-home sales and declining foreclosure activities."

Trulia is teaming with mortgage technology provider Mortech, Inc., to provide mortgage products and rate information to Trulia visitors.

A Manhattan real estate attorney was sentenced to 51 months in prison for his role in a $9 million mortgage fraud scheme, Manhattan U.S. Attorney Preet Bharara announced Friday. According to the indictment and statements made in court proceedings, Eric Finger and his co-conspirators used "straw buyers" to fraudulently obtain mortgages from lenders.

MISMO, the non-profit standards development subsidiary of the Mortgage Bankers Association (MBA), announced Monday it is seeking nominations to serve on its Residential and Commercial Governance Committees. The committees are responsible for providing strategic and tactical guidance to MISMO's workgroup and standards development activities.

A significant increase in home prices helped push Deloitte's Consumer Spending Index up in September, the company reported.

Higher mortgage revenues helped Citigroup see retail banking revenues increase 35 percent to $1.7 billion from the third quarter of 2011.

Citing "positive developments occurring in the housing market," A.M. Best is maintaining a stable ratings outlook for title insurance.

Home prices in September were up 5 percent year-over-year while home sales posted a 4 percent annual increase, even as housing metrics began their typical seasonal declines, according to Redfin's analysis of activity across 19 major U.S. markets. Between August and September, these 19 markets saw prices decline just 0.8 percent, which Redfin says is a smaller decline than is customary at this time of year. Over the same period, home sales dropped 17 percent├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øa figure the company says represents "a typical seasonal decline."