Tag Archives: Service Providers

The National Home Builders Association released a housing market index that improved to 29 in February, its highest level since May 2007, with all three of the components showing new strength. The trade group said that it was the fifth consecutive monthly increase, the longest stretch of consecutive monthly increases since April- October 1995. The current conditions index rose to 30, a five-point jump, the largest month-over-month gain since April 2010. The forecast component, assessing conditions six months out.

Carrington Capital Management has finalized a legal agreement with American Home Mortgage Servicing, Inc. The transaction concludes a lawsuit filed by Carrington against AHMSI in 2009.The terms of the settlement are confidential and no additional details were made available regarding the closure of the legal matter. In an official statement from Carrington Holding Company, LLC, the company noted that the recent deal "resolves the disputes reflected in the action, along with any other disputes between the parties in the past."

Avison Young is starting the new year with the addition of two new principals to the company's Illinois-based operations. The commercial real estate services firm has hired data center experts Jim Kerrigan and David Horowitz to bolster its brokerage activities in Chicago.

In Pennsylvania, Brentwood Bank is launching a consumer-focused division targeting small to mid-sized businesses. The financial institution recently announced the addition of its Relationship Banking Unit, which will be dedicated to securing opportunities for the bank within the local business community. Through its new segment, Brentwood Bank will provide a relationship banker for borrowers and customers, ensuring that the same professional will handle the client's needs during the lifespan of the consumer's transactions.

Initiating a major expansion into four new regional markets, Caliber Funding LLC recently announced the hiring of more than 300 mortgage professionals. Caliber's personnel additions will serve to staff the company's operations in New England; the Great Lakes area; the Philadelphia, New Jersey, Delaware area; and greater Washington, D.C. Caliber's aggressive march into new markets will enhance its presence around the U.S., positioning Caliber for what the company hopes will be a pattern of significant growth during the year ahead.

Cornerstone Real Estate Advisors has named a new CEO for the company's European operations. The real estate investment group recently announced the appointment of Charles Weeks to the executive role.

A new CEO has been selected at Mortgage Returns. The company recently announced the appointment of co-founder Jim Blatt to the executive position.

Mortgage Guaranty Insurance Corp. has released its January statistics, as well as the company's projections for the year ahead. MGIC reported an estimated $1.3 billion in new insurance contracts for the month, and the company is predicting a minimal rise in contracts for 2012. Numbers from the fourth-quarter of 2011 show that MGIC handled around $4.2 billion in new contracts, and the company's new insurance total for the year was $14.2 billion. Data from 2011 shows a solid increase over 2010 findings, with MGIC reporting only $12.3 billion in new contracts for 2010. MGIC stated that it anticipates a slight uptick over 2011 statistics for this year.

Negative equity, tight mortgage credit, and an overhang of foreclosed properties conspire to delay a full-fledged housing rebound and economic recovery, Federal Reserve chairman Ben Bernanke said Friday. He said that the inability ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô or unwillingness ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô of lenders to lend puts the brakes on much-needed activity by first-time and repeat homebuyers. He cited a contraction in mortgage credit outstanding for U.S. homes by about 13 percent, with mortgage originators reluctant to lend to otherwise eligible borrowers.

House lawmakers passed legislation Friday that prohibits insider trading among their members, amending the bill to ban controversial multimillion-dollar bonuses for senior-level executives with Fannie Mae and Freddie Mac. The lower chamber cleared the Stop Trading on Congressional Knowledge Act by a vote of 417 to two. An amendment to the legislation bars executives from receiving bonuses while Fannie Mae and Freddie Mac remain in federal conservatorship. This is the second insider-trading bill from Congress to prohibit bonus pay for GSE executives.