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Industry Leaders LPS and KMC Information Systems Form Strategic Alliance

Integration of LPS Technologies and CaseAware Case Management System Will Improve Foreclosure Processing Efficiency and Transparency 

Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, and KMC Information Systems (KMCIS), the leading provider of case management and integration technology to law firms and trustees, have formed a strategic alliance that will more fully integrate select LPS technologies with KMCIS’ CaseAware® platform and create an end-to-end foreclosure processing solution for loan servicers.

 Click here to read the full release

Ocwen announces amendment to its senior secured term loanOpen in a New Window

Ocwen Financial announced late Friday that it entered into an amendment on its senior secured term loan that will go into effect on Monday, April 20. According to Ocwen, the amendment “removes, with respect to the 2014 fiscal year, the requirement that Ocwen’s financial statements and the related audit report must be unqualified as to going concern.”

 

Green Tree earns top marks in Fannie Mae mortgage servicer ratingsOpen in a New Window

Green Tree Servicing announced Friday that it received a superior five STAR designation as part of Fannie Mae’s Servicer Total Achievement and Rewards program for 2014. Green Tree also said that 2014 is the third consecutive year the company has earned the top performer distinction within its STAR peer group.

 

SWBC Lending Solutions adds two vice presidentsOpen in a New Window

SWBC Lending Solutions announced the additions of two new vice presidents, Allen Lavelle as vice president of commercial/residential appraisal management and Brandon O’Briant as vice president of business development.

 

Mass. Appeals Court rules for MERS in mortgage assignmentOpen in a New Window

The Appeals Court of Massachusetts found in favor of Mortgage Electronic Registration System, Inc. and upheld the validity of its assignment of a mortgage.

 

FHFA leaving g-fees alone, revising primary mortgage insurance requirementsOpen in a New Window

The Federal Housing Finance Agency is leaving g-fees largely alone but it is revising requirements for private mortgage insurance companies that insure mortgage loans either owned or guaranteed by Fannie Mae and Freddie Mac. Here's the rundown.

 

Hey Yahoo, 2005 called, and it wants its mortgages backOpen in a New Window

“A man who spent years sleeping in a cardboard box by a bus stop found a bank account he had forgotten - with enough money for the deposit on a house.” If correct, that means he needs to get a mortgage. Truth is, no one is going to give this guy a mortgage.

 

Will unprecedented mortgage lending finally save Detroit?Open in a New Window

A newly created program, called the “Detroit Neighborhood Initiative,” is based on a partnership between the city of Detroit, the Neighborhood Assistance Corporation of America, the Opportunity Resource Fund and Bank of America, and the program goes to unprecedented lengths to help restore the city to its former glory.

 

Equity National Title hires Travis Cline and Jonathan HillOpen in a New Window

James O’Donnell, Equity’s president, said that the company’s recent rollout of several new services has resulted in a significant increase in new business and new business inquiries, necessitating the additions of Cline and Hill.

 

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tacticsOpen in a New Window

A consortium of housing advocacy groups is calling on the U.S. Department of the Treasury, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau to investigate “pro-foreclosure campaigns,” which the groups say are being perpetrated by “Wall Street giants including the largest hedge funds, mortgage bond traders, and insurance companies.”

 

Second look: Here's where Fannie got it rightOpen in a New Window

Under the program, qualifying first-time homebuyers can receive up to 3% of the purchase price of the subject property in closing cost assistance toward the purchase of a HomePath property. It's time to set the record straight on the wisdom of the program.

 

Lack of equity drags down existing home salesOpen in a New Window

Home equity is returning but it's way below norms in most markets. This means tightening inventory, which means a drag on existing home sales. At least that's what First American is finding. Here's why.

 

Wells Fargo breached national mortgage settlementOpen in a New Window

A federal judge has found that Wells Fargo breached a nationwide 2010 legal settlement involving adjustable-payment mortgages, finding that the bank did not properly judge and evaluate borrowers who applied for help to avoid foreclosures.

 

Here's why force-placed insurance continues to get bad pressOpen in a New Window

On the surface of it, most any reasonable person would understand that a mortgage lender has the right to protect its asset if the borrower is not adequately covered by homeowner’s or flood insurance policies. But here's where the controversy comes in.

 

Weakness in the economy may push back rate hike pressureOpen in a New Window

Growth is tepid for the index of leading economic indicators. With softness in consumer price inflation, will the Fed really want to raise interest rates in the third quarter, or hold steady?

 

Police arrest man in sexual assault on Arizona RealtorOpen in a New Window

Police in Arizona have arrested a suspect in a sexual assault on an Arizona Realtor in March. The man allegedly targeted the Realtor during an open house. Here's how it all went down.

 

Court filing reveals name of anonymous whistleblower in Zillow/Move lawsuitOpen in a New Window

A new filing in the ongoing lawsuit between Zillow and Move names the anonymous whistleblower: the former Zillow Vice President of Strategic Partnerships. Want more? Read on.

 

How to win a bidding war in today’s outrageous housing marketOpen in a New Window

The spring homebuying season is in full swing. But there's just one problem: The majority of American markets are reporting a tight supply of homes. So how are buyers supposed to lock in their dream home? This is how.

 

Homeless man discovers forgotten bank accountOpen in a New Window

After spending years sleeping in a cardboard box, this homeless man can afford to make a downpayment on a house, thanks to a forgotten bank account.

 

George Lucas to create massive affordable housing projectOpen in a New Window

George Lucas won’t let his neighbors stop him from his dreams. After shutting down his original attempt to develop his land in California with a studio, Lucas came up with a better plan. This time around, his focus is on helping others find housing.

 

Zillow Group offering free public data access to MLS partnersOpen in a New Window

Shoring up its listings losses, Zillow Group is getting innovative in its approach to bringing in new listings with an offer to MLS partners — data, data, data. The war continues.

 

Here’s how housing market corrections drag on GDPOpen in a New Window

Housing market corrections coincide with a country's GDP being 6% lower on average than if it had continued on its growth path before prices peaked. Surprised? Or worried?

 

Is it really risky business at Fannie, Freddie?Open in a New Window

A little risk in life is a good thing, and everyone deserves a chance to prove they can do better than they have. But some say the housing policies being pursued may sound awfully familiar. Maybe, just maybe, the GSE are on to something good.

 

Attention lenders: Zillow Mortgages are now available on TruliaOpen in a New Window

Zillow Group’s transition from two sites with two different operating structures into one unified operation took a big step forward Thursday, when the Zillow Group announced that Zillow Mortgages is now available on Trulia.

 

Mortgage rates unchanged and remain near 2015 lowsOpen in a New Window

Mortgage rates remain near lows for the year, but they haven’t spurred a rush to buying yet. Here’s what’s happening.

 

OpenClose names Ken Ellis director of business developmentOpen in a New Window

OpenClose, a provider of end-to-end loan origination systems, announced the hiring of Ken Ellis as the company’s new director of business development. In this role, Ellis will be responsible for selling the company’s multi-channel LenderAssist loan origination system platform to lenders, banks and credit unions.

 

Citigroup net income jumps $4.45 billion in 1st quarterOpen in a New Window

Citigroup reported net income for the first quarter 2015 of $4.8 billion, or $1.51 per diluted share, on revenues of $19.7 billion. The results of the first quarter were a dramatic reversal from 2014’s fourth quarter when Citigroup reported a net income of $350 million, or $0.06 per diluted share, on revenues of $17.8 billion.

 

Goldman Sachs just had its best quarter in 4 yearsOpen in a New Window

Business appears to be booming at Goldman Sachs. The investment banking, securities and investment management giant reported net revenue of $10.62 billion in the first quarter, its best quarterly performance in four years.

 

Jobless claims rise well above expectationsOpen in a New Window

Jobless claims were expected to decline last week, but they rose against analyst expectations. Here's where the trouble was.

 

Housing starts and permits show deep weakness in MarchOpen in a New Window

Homebuilder confidence rose in April but builders took a big hit in March, demonstrating a weakness in the housing economy.

 

RealtyTrac: Foreclosures see first year-over-year increase since 2010Open in a New Window

Foreclosure activity — which includes default notices, scheduled auctions and bank repossessions — rose in March, marking the first year-over-year increase in foreclosure activity since September 2010. But the news wasn't all bad.
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