During the third quarter, 257 regulatory actions were taken against federally insured institutions,according to the Third-Quarter 2009 Regulatory Actions report from MortgageDaily.com. The report reflects orders and other actions by the Federal Deposit Insurance Corporation, the Federal Reserve, the National Credit Union Administration, the Office of the Comptroller of the Currency and the Office of
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Mail this post The Federal Deposit Insurance Corporation reported that it processed 86 matters in October. Actions against federally insured banks and thrifts soared from 48 reported for September. During October 2008, the FDIC processed just 40 actions.Read more…
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Mail this post Next Generation Financial Services announced last week that it has a new chief executive officer: Robert Cannon. The company originates reverse mortgages. NetMore America Inc. announced that John Cassell was hired as the newly created senior vice president of retail production. He will manage and grow NetMore’s branch system.Read more…
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Mail this post Timothy M. Walsh was appointed president of UnitedTech Lender Services Inc. Aklero Process Solutions Inc. said in a news release that Brian K. Fitzpatrick was hired as president and chief executive officer. Sandeep Sahai will take over as president and CEO of Headstrong.Read more…
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Mail this post First mortgage assets at federally insured credit unions increased 4 percent from the end of last year, the National Credit Union Administration reported. Total assets were up 8 percent. Between the second quarter and the third quarter, credit union membership rose by more than 2 million.Read more…
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Mail this post October new business acquisitions at Fannie Mae fell 15 percent from the previous month. Residential delinquency, reported on a one-month lag, climbed 27 basis points during September, the secondary lender said. The rate of delinquency was the highest on record at Fannie.Read more…
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Mail this post Multifamily originations during 2008 was down 41 percent from the previous year, the Mortgage Bankers Association reported. At the same time, the number of multifamily lenders rose 5 percent. Still, MBA commercial executive Jamie Woodwell called mortgage lending to apartment building owners "broad and diverse."Read more…
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Mail this post AnswerMine Group said in a statement that its mortgage analytics service helps prevent foreclosures by identifying loans that are likely to default for modifications. Recordation, filing and settlement services are available from CT Lien Solutions for loan modifications, according to a news release. US Loan Modification Laws is marketing its Web site for borrowers as [...]
Mail this post The Florida Office of Financial Regulation closed Commerce Bank of Southwest Florida. The National Credit Union Administration closed Ensign Federal Credit Union. Greenwich Mortgage was shut down by the Rhode Island Department of Business Regulation, WPRI reported.Read more…
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Mail this post An analysis by MortgageDaily.com of home loan production indicated that overall residential volume was 22% lower in the third-quarter than in the second quarter. Bank of America Corp. unseated Wells Fargo & Co. as the biggest lender. Citigroup, which had ranked as the fourth biggest lender in the prior report, saw volume tumble by more [...]
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