Tag Archives: Processing

FDIC announced Tuesday the closure of Central Arizona Bank (Scottsdale) by the Arizona Department of Financial Institutions. To protect depositors of the failed bank, FDIC entered into a purchase and assumption agreement with Western State Bank (Devils Lake, North Dakota).

In Connecticut, Total Mortgage Services, LLC announced the launch of its new and improved website offering users with a dynamic browsing experience across all devices.

According to Ellie Mae's findings, purchase loans made up 42 percent of loans closed in April, up from 38 percent in March, while refinances represented 58 percent. According to Ellie Mae president and COO Jonathan Corr, the last time purchase loans broke the 40 percent mark was July 2012. Among purchase loans, the closing rate was about 58.2 percent, while the rate for refinances was 50.5 percent. The overall closing rate for loans analyzed in the sample was 53.2 percent, a pull back from March.

Nationwide Title Clearing, Inc., a Florida-based post-closing services provider for the residential mortgage industry, released a new white paper outlining the ten hottest issues servicers must consider when undertaking the lien release.

Ally Financial Inc. announced an agreement that settles any existing and potential claims from Residential Capital--its bankrupt mortgage subsidiary--and ResCap creditors, according to an announcement Tuesday.

The Home Tour Network--a division of Realbiz Media Group, Inc.--announced the expansion of its video on demand real estate network into the greater Atlanta area.

In San Diego, Mortgage Capital Management (MCM) announced the hiring of Robert Satnick as national sales director.

Trulia tossed its two cents into the bubble debate with the release of Trulia Bubble Watch, a report that compares various price indexes to per-capita income and rent data.

Equity Loans LLC, an Atlanta-based leader in the residential mortgage industry whose operations extend to more than 30 states, opened four new office locations in the first quarter of this year.

The National Association of Home Builders├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó (NAHB) 55 single-family Housing Market Index (HMI) jumped year-over-year for the sixth consecutive quarter in Q1, the association reported. As of the end of March, the index rested at 46, 19 points above the same period last year and the highest first-quarter number recorded since the inception of the index in 2008. There are two separate 55+ HMIs to represent two segments of the market: single-family homes and multifamily condominiums.