Tag Archives: Processing

Mortgage-related business closings and failures are on track to post fewer incidences in 2012 than any year since the mortgage crisis began. In the third quarter, 17 mortgage-related businesses failed, down from 25 in the previous quarter and 31 in the same quarter last year, according to a findings released by Mortgage Daily. Bank closings followed this trend, falling from 15 failings in the second quarter to 12 in the third. Both numbers are down from the third quarter of last year, when 26 banks failed.

The former Beverly Hills home of Ernest Borgnine has hit the market in Los Angeles, California. The gated estate, designed in 1938 by architect L.G. Scherer, is currently listed for $3.395 million.

While some employers may be struggling to find practical and cost-effective ways to keep employees happy and productive, V.I.P. Mortgage aims for the heart. The Scottsdale, Arizona-based mortgage bank points to a number of charitable causes undertaken for its employees, including V.I.P.'s sponsorship of one employee's efforts to raise awareness for multiple sclerosis.

Freddie Mac has emerged as the victor in a legal battle over alleged securities fraud. Originally filed in August 2008, the putative class action lawsuit was dismissed with prejudice.

The Urban Land Institute (ULI) has released a new study that shows declining expectations for the U.S. economic picture, with one positive exception - single-family housing. In the organization's semi-annual Real Estate Consensus Forecast, ULI found that most growth projections had been scaled back, but the group's survey of 39 leading real estate economists and analysts from around the U.S. indicated "more optimism" in the single-family housing industry, as forecasts for starts and home prices demonstrated significant increases.

Consumer spending rose $57.2 billion - 0.5 percent - in August, but personal income improved just $15 billion, 0.1 percent, the Bureau of Economic Analysis reported Friday.

Shaking off the effects of Hurricane Isaac, first-time claims for unemployment insurance fell 26,000 to 359,000 for the week ended September 22, according to findings from the Labor Department. Falling far below market expectations, the report followed revisions to the previous week's survey, which was adjusted upward to 385,000 first-time claims off of the originally reported 382,000. Economists had predicted a smaller figure for first-time claims, anticipating around 376,000.

Walker & Dunlop, Inc., announced that Douglas C. Blake has been hired as senior vice president of the company's closing department. According to Walker & Dunlop's recent release, Blake will manage the department, including all aspects of the loan closing process.

While the fall months look to be unprecedented for the housing market, LendingTree expects tight lending requirements will keep many borrowers from taking advantage.

A recent study from Heardable, Inc., revealed that Quicken Loans outpaces its lending competitors in strong branding through digital presence.