Articles Tagged with ''Company Product''

Wolters Kluwer Launches RESPA Tool Box

In advance of the new requirements added to the Real Estate Settlement Procedures Act (RESPA) that take effect January 1, 2010, the Minneapolis-based Wolters Kluwer Financial Services launched its RESPA Tool Kit to help financial institutions understand and implement the changes. The software provides an overview of the Department of Housing and Urban Development's (HUD) changes, including revisions to the good faith estimate and HUD-1 and HUD-1A documents, as well as settlement cost booklets intended clarify loan terms to consumers.
Read More

First American CoreLogic Launches iPhone App

First American Corporation’s [stock FAF][/stock] First American CoreLogic division launched RealQuest, a free iPhone application. The new app can access mobile market data including property values, foreclosure information and housing trends on more than 140m residential properties. The software also has interactive maps that locate properties in the listings.
Read More

Sorrento Capital Launches MortgageOutreach.org

[Update: MortgageOutreach.org is the name of the education site] Sorrento Capital, a private asset management firm, launched MortgageOutreach.org, designed to educate homeowners struggling to make to their mortgage payments. Sorrento’s subsidiary, MOS Group, leverages the no-cost site that provides information on options available to sinking borrowers such as loan modifications, refinances, short refinances, short sales and foreclosures.
Read More

Triad Guaranty Loses $360m for Q209

Triad Guaranty [stock TGIC][/stock], the mortgage insurer, reported a $359.4m net loss for Q209, compared to a net loss of $55.2m for Q109. Ken Jones, CEO of Triad, points to a decline in cure rates on default loans and severe settled losses that swelled Triad’s loss reserves for the second quarter, according to the report.
Read More

Mortgage Insurance Woes Grow for Fannie, Freddie

Imagine paying full premium for an insurance contract, and receiving only 60 percent on any claim you make -- that's the unsavory situation now being faced by both Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock], as well as a bevy of private-market lenders, on their mortgage insurance contracts with troubled mortgage insurer Triad Guaranty Inc. [stock TGIC][/stock].
Read More

Bank Failures Top 19 in 2008

Two bank closures late last week brought the 2008 running total to nineteen, so far. The Federal Deposit Insurance Corp. announced Friday that it had taken over Los Angeles-based Security Pacific Bank and Houston-based state-chartered thrift Franklin Bank Corp., the assets of which have been transferred respectively to Pacific Western Bank and Prosperity Bank.
Read More

Franklin Credit Warns on $280M Q2 Loss

Franklin Credit Management Corp. is back into trouble this quarter, saying in a filing Friday with the Securities and Exchange Commission that it could not file its second quarter results due to the effect of sizeable loss provisions. The scratch-and-dent specialist said that it expected to post a net loss of $280 million to $285 million when it files its second quarter earnings, according to the regulatory filing.
Read More

Triad Posts Q2 Loss of $198.8 Million

Now in portfolio run-off, mortgage insurer Triad Guaranty Inc. [stock TGIC][/stock] said late Monday that it lost $198.8 million during the second quarter, or $13.36 per share, compared with net income of $12.0 million, or $.80 per share, for the year-ago quarter. During the second quarter, Triad saw its approval from both GSEs suspended as its ratings were cut, forcing it into run-off; the company stopped issuing commitments for new mortgage insurance coverage effective July 15, 2008, and laid off 45 percent of its staff, as a result.
Read More

As Triad Moves into Runoff, CEO Tonnesen Leaves

Triad Guaranty Inc. [stock TGIC][/stock] said Thursday that president and CEO Mark K. Tonnesen will retire from the company, effective August 15. William Ratliff, currently chairman of the board, will assume Tonnesen's role on an interim basis, the company said in a press statement.
Read More