3 DC-Area Organizations Add Executives A mortgage technology group that operates near the nation's capitol named several executives to various posts, while new executives were hired at a public relations firm and a law firm both based in Washington, D.C. Three former agency executives landed in senior posts at service providers, and a company that fixes loan problems has a new technology chief. Ellie Mae Director of E-Mortgage Solutions Stephanie Berger was appointed to the Mortgage Bankers Association's Mortgage Industry Standards Maintenance Organization Residential Governance Committee, a Jan. 27 statement said. At Pleasanton, Calif.-based Ellie, Berger is responsible for aligning the company's technology with MISMO standards. read full story

Bankruptcies Ease
This year started off with decline in consumer bankruptcies. But the head of a bankruptcy trade group warns that this year's activity will exceed the swift pace set last year.

Wells Wins Appeal in Employment Case
A California appeals court has ruled in favor of Wells Fargo & Co.'s mortgage subsidiary in an overtime case filed by a home mortgage consultant. The case offers insight into what is needed to determine whether an employee is exempt.

Secondary Marketing Transactions
Nearly $500 million in loans have recently been traded, while the $11 billion servicing portfolio of a bankrupt mortgage lender is on the market. Two of the sellers were financial institutions based in Hawaii.

Secondary, Servicing and Investor Lawsuits
The latest round of mortgage litigation deals with servicing issues, a big secondary marketing sale and disgruntled investors. A case tied to mortgage-backed securities is also on the docket, while an intellectual property rights case was settled.

The Bankruptcy Journal
Wells Fargo & Co.'s home loan unit lost an appeal on a mortgage it mistakenly neglected to record prior to the borrower's bankruptcy. But a Bank of America Corp. subsdiary had more luck maintaining its lien position in another bankruptcy case.

3 Face Sentences for Mortgage Crimes A former mortgage broker who stole more than $100,000 from a reverse mortgage borrower has been sentenced to six years in prison despite showing up at his sentencing with a $50,000 check for his victim. In another case, a Texas woman was sentenced for cleverly diverting proceeds from loan closings to her personal accounts. A third case has a former bank executive admitting that he cooked the books and facing sentencing along with two other related defendants who are accused of mortgage fraud.

15 FHA Firms Face Subpoenas
Subpoenas were issued against 15 Federal Housing Administration mortgagees over the poor performance of their originations.

Credit Scoring Insight
As regulators battle credit repair firms, one company is promising that anyone can start a credit repair business for less than $50. Two companies have identified how much credit scores can be impacted by factors such as loan modifications, late payments and over-extension.