http://www.mortgagedaily.com?spcode=rss Mortgage Industry News for the Mortgage Industry Fri. 17 May 2013 23:47 GMT en-us http://www.mortgagedaily.com/MMI051713LP.asp?spcode=rss http://www.mortgagedaily.com/MMI051713LP.asp?spcode=rss Fri. 17 May 2013 23:47 GMT
A 7 percent decrease from last week left the U.S. Mortgage Market Index from LoanSifter and Mortgage Daily for the week ended May 17 at 256. The index, which is based on average pricing inquiries per LoanSifter user, was up 9 percent from the same week in 2012.

The year-earlier data was revised to reflect a change in data providers earlier this year.

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]]> http://www.mortgagedaily.com/KickbackSettlement051713LP.asp?spcode=rss http://www.mortgagedaily.com/KickbackSettlement051713LP.asp?spcode=rss Fri. 17 May 2013 21:26 GMT Real Estate Settlement Procedures Act tied to joint ventures.

Stratford Mortgage Services LC was created in 1999 as a joint venture between Benchmark Bank and home builder Paul Bennett Taylor.

Taylor and Benchmark each owned 50 percent of the venture. Taylor was a vice president of Stratford, and Benchmark Bank's president served as Stratford's president and chief executive officer.

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]]> http://www.mortgagedaily.com/MortgageSecurityOrder051713LP.asp?spcode=rss http://www.mortgagedaily.com/MortgageSecurityOrder051713LP.asp?spcode=rss Fri. 17 May 2013 17:31 GMT
Mortgage Security Inc., which operates from East Falmouth, Mass., had been licensed in Massachusetts as both a mortgage broker and a mortgage lender.

But an examination of the company in July 2008 by the state's division of banks led to a November 2009 order to show cause and notices of right to a hearing against Mortgage Security.

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]]> http://www.mortgagedaily.com/FlagstarCeo051713LP.asp?spcode=rss http://www.mortgagedaily.com/FlagstarCeo051713LP.asp?spcode=rss Fri. 17 May 2013 15:16 GMT
In its third-quarter 2012 earnings report, Flagstar Bancorp Inc. disclosed that its board of directors had appointed Michael J. Tierney to serve as president and CEO of the bank-holding company and subsidiary Flagstar Bank, FSB.

With $12.4 billion in residential originations, the Troy, Mich.-based company ranked as the eighth biggest U.S. home lender during the first quarter of this year, according to a Mortgage Daily analysis of production data from all of the largest lenders.

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]]> http://www.mortgagedaily.com/Rates051613LP.asp?spcode=rss http://www.mortgagedaily.com/Rates051613LP.asp?spcode=rss Thu. 16 May 2013 22:30 GMT
A nine-basis-point rise from last week left fixed-rate 30-year mortgages averaging 3.51 percent in Freddie Mac's Primary Mortgage Market Survey for the week ended May 16. Compared to the same week last year, 30-year mortgages have fallen 28 BPS.

Pushing rates higher were stronger consumer spending and increased retail sales, Freddie Mac Chief Economist Frank Nothaft said in the report.

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