Servicing

Valuation Partners add Denise Neely as vice president

Will oversee business development and new client services
Appraisal management company Valuation Partners announced Denise Neely has joined the company as Southwest region vice president. Neely’s new role includes overseeing business development and new client services in Arkansas, Alabama, Colorado, Louisiana, Mississippi, New Mexico, Oklahoma, Tennessee and Texas.
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OCC lifts mortgage servicing restrictions on U.S. Bank, Santander

Banks fined $13.4 million total for violations of Independent Foreclosure Review
The Office of the Comptroller of the Currency announced Tuesday that it is terminating mortgage servicing-related consent orders against U.S. Bank National Association and Santander Bank, lifting the mortgage servicing restrictions placed on both banks last year due to failure to comply with requirements of the Independent Foreclosure Review.
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CoreLogic: Foreclosures fall to lowest level since 2006

Recovery from housing crisis continues
In another sign that the recovery from the housing crisis is ongoing rather than stalled out, the total number of completed foreclosures in 2015 was the lowest number of completed foreclosures in any year since 2006, a new report from CoreLogic shows.
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Texas court upholds MERS right to claim lien

Electronic registry countersued for its rights
Summit Residential Services acquired an interest in the subject property following a foreclosure sale conducted by a homeowner’s association — and moved to clear title. Summit was granted judgment in its favor; extinguishing a MERS lien. So, MERS countersued in April 2014, and won.
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Ditech shakes up management, combines leadership of originations and servicing

David Schneider will oversee both; Patricia Cook departs
When Walter Investment Management Corp. merged two of its well-known subsidiaries last year, Green Tree Servicing and Ditech Mortgage Corp, the company said that the mortgage servicing and originations businesses would be lead by David Schneider and Patricia Cook, respectively. But Monday, Walter Investment announced that Cook is leaving the company, effective immediately, and said that Schneider will be taking over both the servicing and originations operations.
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Is San Francisco in a housing bubble?

Fitch Ratings suggests Bay Area home prices are at 'unsupportable' level
San Francisco often ranks among the "hottest" housing markets due to its rapidly rising housing prices. But how hot is too hot? A new report from Fitch Ratings suggests that San Francisco is reaching that point, with the dreaded "b" word being thrown around now.
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HSBC reaches $601M settlement over charges of 'abusive mortgage practices'

Settlement reached with DOJ, HUD, CFPB, Federal Reserve, 49 states
HSBC agreed to a $601 million settlement with a series of federal agencies and nearly every state over charges that the bank engaged in mortgage origination, servicing and foreclosure abuses. The massive settlement with HSBC was jointly announced Friday by the Department of Justice, the Department of Housing and Urban Development, the Consumer Financial Protection Bureau, 49 states and the District of Columbia.
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MortgageFlex adds Steve Shore as chief information officer

Will lead technical services team
MortgageFlex Systems, a provider of loan organization and servicing technology, announced Steve Shore is joining their technological services team as chief information officer. Shore rejoins the company after first working for MortgageFlex Systems in the early 2000s.
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