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MortgageDaily.com - Mortgage News Headlines

MortgageDaily.com - Mortgage News Headlines


Mortgage Industry News for the Mortgage Industry



Sat, Feb 04, 12


When BofA announced in January 2008 its intention to acquire Countrywide Financial Corp. -- the biggest U.S. mortgage lender from 2004 until 2007 -- David Sambol, the president and chief operating officer at the time for Countrywide, was named to lead the company. But by the time the acquisition was done, Barbara Desoer, who had been BofA's chief technology and operations officer, was tapped to run the unit.

This week, the bank announced Desoer's intention to retire.

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Fri, Feb 03, 12


The number of prospective borrowers who inquired about a mortgage rose 4 percent from last week, leaving the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily for the seven days ended Feb. 3 at 270.

The index was 48 percent higher than the week ended Feb. 2, 2011.

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Fri, Feb 03, 12


A foreclosure judgment in favor of U.S. Bank, N.A., as trustee against Julia Feltus was overturned by the District Court of Appeal of Florida, Second District, last Friday.

U.S. Bank had sought to re-establish a lost promissory note, and the court said that trial court erred because U.S. Bank failed to show conclusively the absence of a genuine issue of material fact and that it was entitled to foreclosure as a matter of law.

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Fri, Feb 03, 12


The complaint was filed Friday in the Supreme Court of the State of New York by New York Attorney General Eric T. Schneiderman.

The state alleges that the defendants have been using MERS in a wide range of deceptive and fraudulent foreclosure filings in New York state and federal courts, harming homeowners and undermining the integrity of the judicial foreclosure process.

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Fri, Feb 03, 12


The number of people working in the mortgage industry, including mortgage brokers and non-broker, fell less than 1 percent between November and December, according to government data released Friday.

Compared to December 2010, headcount in real estate finance was down 8 percent.

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