Industry News

Chicago-based special servicer Fay Servicing is hiring mortgage professionals in the greater Chicago area as part of a new hiring initiative.

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Shopping centers, apartments, a storage facility and drug store are among the 13 storm-exposed properties serving as collateral to CMBS loans studied by Morningstar.

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A recent surge in companies filing for real estate investment trust status could be leading to an increase in scrutiny over which companies should qualify, analysts claim.

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Private mortgage insurer MGIC is reorganizing its Capital Markets group. The company confirms one employee was released in the process. But other than that, it's business as usual.

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Advocacy groups from California and New York traveled all the way to Tampa to speak out against what they perceive to be JPMorgan's failing foreclosure and lending practices during the company's latest shareholder meeting.

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Irving-based Pacific Union Financial hired Scott Conradson as executive vice president of mortgage servicing.

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National home prices are down 29.1% since their Q1 2006 peak, writes Business Insider. But over the next five years, they are expected to rise 3.9%, according to the latest CoreLogic Case-Shiller report.

 

http://www.businessinsider.com/best-housing-markets-for-five-years-2013-5 Business Insider Mamta Badkar

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Home values jumped 5.2% from last year in Zillow's latest April report. The last time home values reached this point was 2004.

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CFI Group, a technology and analytics firm, partnered with mortgage industry advisory firm STRATMOR Group to create MortgageSAT, which allows lenders to measure borrower satisfaction.

http://www.mortgageorb.com/e107_plugins/content/content.php?content.13818 MortgageOrb Staff

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St. Louis, Mo.-based Enterprise Bank & Trust acquired the operating assets of Gorman & Gorman Home Loans, pulling another 30 mortgage producers, underwriters and operations under its umbrella.

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Fannie Mae common shares rose more than 400% over the past three months, and its most widely preferred shares went from less than $2 per share to more than $5 within the past two months.

http://www.cnbc.com/id/100754423?__source=mnd|news|&par=mnd CNBC Diana Olick

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Traders seem desperate to spin every Fed pronouncement hawkishly, so investors will be listening for clues about the possible winding down of QE when FOMC minutes are released this week.

http://www.cnbc.com/id/100754252?__source=mnd|news|&par=mnd CNBC Bob Pisani

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A New York state judge said that she alone, and not a jury, will decide if Bank of America can go through with an $8.5 billion mortgage-backed securities settlement.

http://www.law360.com/realestate/articles/443021?nl_pk=9925eb59-a92b-425d-8fb6-ac10791892d6&utm_source=newsletter&utm_medium=email&utm_campaign=realestate Law360 Eric Hornbeck

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Now that CitiMortgage has a new CEO, the mega-bank could refocus on mortgage lending, American Banker reports. 

http://www.americanbanker.com/issues/178_97/citigroup-shuffle-fraser-replaces-das-as-mortgage-chief-1059260-1.html?pg=1 American Banker Maria Aspan

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FINRA has taken steps to focus on various opportunities in the ever-evolving market in order for investors to regain confidence. However, there is still more that can be done. 

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States hit hard by foreclosures benefited the most from the $25 billion national mortgage settlement, according to data released by Joseph Smith, an independent monitor overseeing the distribution of aid.  

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"As the mortgage market strengthens, the rule should provide appropriate safeguards without becoming a straightjacket," said Kelly Cochran, assistant director for regulations with Consumer Financial Protection Bureau.

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A shareholder proposal to split the roles of chairman and CEO at mega bank JPMorgan Chase was defeated, allowing Jamie Dimon to hold on to his current titles.

 

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LLB&B, a Mobile, Ala.-based real estate company, will pay $29,000 to settle claims that one of its agents denied a home tour to a prospective buyer because he is African American.

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The world's biggest hedge funds have reported their first quarter 2013 ownership reports, which includes stocks that they find most attractive. The list features heavy hitters such as Nationstar Mortgage and JPMorgan Chase. 

http://www.businessinsider.com/hedge-funds-top-49-stocks-2013-5# Business Insider Rob Wile

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