Tag Archives: Service Providers

Lenders are lining up to take advantage of the LoanQuest mortgage origination solution offered by MortgageFlex Systems, Inc., the company announced. The Jacksonville, Florida-based company touted its newly rewritten LoanQuest system, which is "smarter and better than ever."

Mortgage applications fell 12 percent for the week ending October 19, according to data from the Mortgage Bankers Association.

The Department of Justice sued Bank of America for over $1 billion for alleged mortgage fraud related to the sale of loans to Fannie Mae and Freddie Mac.

In a US Housing Market Update released by the firm, analyst and property economist Paul Diggle notes that while "a substantial overhang of properties still in the shadow inventory" will keep distressed sellers in the market, the peak in distressed supply appears to be well behind us, giving homebuilders more room to grow with less competition from discounted homes. In addition, short sales--typically sold at a smaller discount--have been gaining traction as foreclosure sales drop, creating "less of a depressing influence on the new-build market."

Patton Boggs is welcoming back a former partner, announcing that Todd R. Harrison has rejoined the firm's litigation and dispute resolution practice group. Harrison is headed back to Patton Boggs after departing in 2011 to serve as chief counsel for oversight and investigations on the energy and commerce committee for the U.S. House of Representatives.

An executive from Churchill Mortgage recently received recognition from The Nashville Business Journal. Matthew C. Clarke, Churchill's CFO and COO, was a finalist in this year's CFO Awards, which recognize leading CFOs from corporations in Middle Tennessee.

Mortgage rate movement last week was "so slight it was almost nonexistent," according to data from Freddie Mac and Bankrate.com.

The Pending Home Sales Index (PHSI) rose ever so slightly in September, the National Association of Realtors reported Thursday, tempering the much-heralded housing sector revival. The Index inched up to 99.5, an improvement of 0.3 percentage points over August's 99.2. Economists had expected the index to jump 2.5 percent to 101.7.

First-time claims for unemployment insurance fell 23,000 to 369,000 for the week ended October 20, the Labor Department reported Thursday. Economists expected initial claims to fall to 372,000. The initial claims report has been unusually volatile for the last month with wide swings in the seasonal adjustment factors used by the Labor Department to "normalize" the data. However, the factor used for this week's report was virtually the same as the factor used a week ago, suggesting the sharp drop in claims reflects a truer reading of the labor market.

Mortgage loan app developer LenderMobile announced the iPad launch of BorrowerMobile, a borrower-facing app designed to let borrowers check loan information directly from their devices. The app is intended to complement LenderMobile's loan-officer facing LenderMobile+ app that lets borrowers fill in 1003 mortgage applications from their iPad and electronically sign the application directly on the screen.