Tag Archives: Service Providers

Mortgage application volume continues to seesaw week to week throughout November--this time falling, according to data from the MBA.

First-time claims for unemployment insurance fell 41,000 to 410,000 for the week ending November 17, the Labor Department reported Wednesday. Economists expected 415,000 initial claims filings.

The FDIC and the Financial Crimes Enforcement Network (FinCEN) announced the assessment of $15 million in penalties against the First Bank of Delaware in Wilmington for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws and regulations.

Banks continued to enjoy boosted earnings in the third quarter from increasingly strong gain-on-sale (GOS) margins.

Mortgage Insurance Companies of America (MICA), an association of private mortgage insurers, reported Monday that since 2009, its members have insured $86.9 billion in mortgages modified or refinanced through the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP) as well as in mortgages modified through other means. During the third quarter of 2012, the dollar volume of insurance written by MICA members reached nearly $11.6 billion, up 62 percent year-over-year.

Douglas Elliman is abiding by an old adage, proving that everything old is new again by adopting the company's original name. The announcement of the firm's revamped identity accompanies other updates for Douglas Elliman, including the recent launch of AskElliman, a new consumer-facing platform, and the relaunch of the company's lifestyle publication.

In October, home prices and sales increased compared to 2011 levels, while inventory remained a concern, RE/MAX revealed in a recent report. The median sales price in October 2012 stood at $158,900, a 3.7 percent decrease from September but a 2.1 percent increase from October 2011. Meanwhile, home sales posted "an impressive performance" in October, increasing both yearly and monthly despite the fact that seasonal patterns usually see a slight drop around that time.

JPMorgan Chase's leadership team is undergoing a few changes: The bank announced that effective early next year, Marianne Lake will be stepping into the role of CFO. Meanwhile, current CFO Doug Braunstein will become vice chairman of the company.

Radian Guaranty Inc., the mortgage insurance (MI) subsidiary of the Philadelphia-based Radian Group Inc., announced that it will now provide MI on loans within the HarmonyLoan platform.

Housing starts rose 3.6 percent in October to a seasonally adjusted annual rate of 894,000--the highest level since July 2008--but permits for new residential construction fell, the Census Bureau and Department of Housing and Urban Development reported jointly Tuesday. Permits and starts for September were revised lower, making the month-over-month percentage growth for starts stronger. Permits in October were down 2.7 percent from September to 866,000.