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Foundation Financial Group announced plans to fill a total of 170 open positions this year.
Among the positions being recruited for are loan originators, sales managers and telemarketers.
Some of the positions are entry-level, while others are high-wage.
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Growing Firm Hiring LOs, Production Personnel
LendingTree LLC has filed a lawsuit against four of its competitors.
It says that the other Web sites, which also match borrowers with potential lenders, have been infringing on patents that LendingTree’s founder filed beginning in 1998.
LendingTree says it is seeking to be compensated for “lost profits.”
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LendingTree Sues Competition
Credit risk declined 0.9 percent in the second quarter.
The finding was reported this week by TransUnion.
It was the second consecutive quarter that risk declined.
Originally posted here:
Risk of Delinquency Eases Again
A pricing search done through Marksman indicated that a 95 percent loan-to-value transaction in Texas on a $150,000 property would be priced at 4.250 percent on both a conventional and an FHA loan.
The up-front mortgage insurance premium for the conventional mortgage is around $1,000 more than for an FHA
BB&T has recently been more aggressive writing down troubled loans and moving to rid itself of some of them.
The bank’s CEO has indicated the strategy will continue as long as investor appetite for the loans remains at current levels.
Other regional banks, including Pittsburgh-based PNC Financial Services Group and Birmingham, Ala.-based Regions Financial, are pursuing similar strategies.
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Wave of Distressed Asset Sales Ahead
The Federal Housing Administration isn’t talking publicly about it, but the agency may be getting ready to lessen the upfront costs of home-equity conversion mortgages for some borrowers.
In a recent conference call with industry participants, FHA officials said they were finalizing plans to offer an HECM with almost no upfront mortgage insurance premium attached, according to the National Reverse Mortgage Lenders Association.
“We are still working out the details,” a spokesman for the U.S. Department of Housing and Urban Development said.
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HUD Considering Cutting Up-Front HECM Fees
The Mortech-Mortgage Daily Mortgage Market Index was 259 in the week ended Sept. 8, falling from 348 seven days sooner.
The index reflects pricing inquiries by mortgage brokers who utilize Mortech Inc.’s pricing engine.
The conventional 30-year mortgage rose around 4 basis points in the report.
Mortgage Activity Sinks, Rates Rise
A survey conducted by Coester Appraisal Group was done in an effort to dispel rumors about appraisal management companies and their appraisers.
The report indicated that 97 percent of AMC appraisers have at least five years’ experience.
In addition, half of the appraisers surveyed said that they have been in the appraisal business for at least 15 years.
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AMC Appraiser Experience Touted in Report
Mariner Real Estate Partners LLC acquired an interest in $762 million in mortgages owned by the Federal Deposit Insurance Corp.
The way the deal was structured, Mariner acquired a 40 percent equity interest in a limited liability company that the FDIC created to hold the loans.
The other 60 percent interest in the LLC will be retained by the FDIC
Continued here:
$762 Million Portfolio Sells
Another $1 billion was awarded Wednesday through the U.S. Housing and Urban Development’s Neighborhood Stabilization Program.
HUD said the funds “provide targeted emergency assistance to state and local governments to acquire, redevelop or demolish foreclosed properties.”
The grant is provided for under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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Another Billion Headed to States