Greystar Management Services, a national multifamily real estate company, announced the acquisition of Glacier Real Estate Services Thursday.
Based in South Carolina, Greystar manages about 640 properties in more than 100 markets. Greystar Chairman and CEO Bob Faith said the move gives the company access to real estate markets in the Pacific Northwest.
Class-action lawsuits against large banks active in residential mortgage lending are on the rise, according to a National Law Journal article published online.
Similar suits have been filed against J.P. Morgan [stock JPM][/stock], Bank of America [stock BAC][/stock], Citigroup [stock C][/stock], Wells Fargo [stock WFC][/stock] and Ally Financial [stock GJM][/stock]. And more are expected as delinquent homeowners fight foreclosures and investors fight to recoup money from securitized problem mortgages.
The Federal Reserve Bank of Boston on Tuesday announced the appointment of Kenneth Montgomery as Chief Operating Officer, starting early next year.
Montgomery will succeed Paul Connolly, who is retiring in December.
Florida's Attorney General office received at least 25,000 pages of subpoenaed documents from DJSP Enterprises [stock DJSP][/stock] and its principle client, the Law Offices of David J. Stern in the AG's investigation of the company over its foreclosure practices.
Ohio Attorney General Richard Cordray is warning mortgage servicers not to rush foreclosure fixes in the wake of the recent robo-signing scandal. The AG also said that Wells Fargo can't simply fix false testimony by submitting new affidavits -- intentions the bank announced last week.
Lender Processing Services, Inc. [stock LPS][/stock] Thursday named Tom Schilling as executive vice president and chief financial officer. Schilling will be responsible for managing all aspects of the company's finances, as well as select internal operations.
Schilling joins LPS with more than 20 years of experience both as a CFO and chief operating officer at companies including USA Mobility, Cincinnati Bell's Broadwing and MCI.
A longtime Florida judge is confirming that previously reported problems with process serving is cropping up in the state's courtrooms.
Circuit Court Judge Jennifer Bailey hears thousands of foreclosures cases each month in Miami-Dade County, an area hit hard in the foreclosure crisis. She also served on the Florida Supreme Court's mortgage foreclosure task force in 2009.
The judge, who has spent 17 years on the bench, said she believes some process service companies are lying on the affidavits based on borrowers' contentions of never having been served.
The financial and the foreclosure crisis have contributed to the United States' decline on a global corruption index, released by the watchdog group Transparency International.
The U.S. ranked 22nd of 178 countries with a score of 7.1 on the 2010 Corruption Perceptions Index, down from 19th last year.
The Federal Reserve said its research, community outreach and policy reviews are part of a detailed response to the nation's foreclosure crisis, according to a new report.
The 20-page report was released as part of a two-day joint housing and mortgage symposium sponsored by the Fed and the Federal Deposit Insurance Corp. that began Monday in Washington, D.C.
DJSP Enterprises Chairman David J. Stern, whose law firm has been under intense scrutiny in a Florida foreclosure probe, stepped down from his position as chairman, and three top executives who had been with the company less than a year also resigned.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.