Posts Tagged ‘mortgage’

A BIG CHANGE: New mortgage rules seen bringing increase in pricey mobile home loans

by Published: November 26,2014

Tags: manufactured home, mortgage, Qualified mortgages, waiver

National lenders who make loans on new manufactured homes appear to be a growing option for Mississippi borrowers with credit histories too risky for traditional banks in today’s stringent regulatory climate. While credit-challenged borrowers are buying the dwellings at about half the square-foot cost of site built homes, financing them takes a much larger bite […] [...]

Court unseals 49-count indictment against ex-Corrections Commissioner Epps

JACKSON — A 49-count federal indictment charges former Mississippi Corrections Commissioner Christopher Epps, who resigned abruptly this week, with accepting more than $700,000 in bribes from a Rankin County businessman. The indictment unsealed yesterday in U.S. District Court in Jackson also charges Cecil McCrory of Brandon and says he paid Epps to obtain contracts for […] [...]

PriorityOne buys mortgage lending offices; forms ‘Delta Division’

MAGEE — PriorityOne Bank has acquired new mortgage lending offices in Greenwood and Greenville, which have been dubbed the “Delta Division” of PriorityOne Mortgage. These offices will give PriorityOne Mortgage the ability to service cities and towns in the Delta region of Mississippi. Robert J. Barnes, president and CEO of PriorityOne Bank, said, “We are […] [...]

Oxford’s FNC getting new headquarters

by Published: August 21,2014

Tags: Business, FNC, Mississippi, mortgage, Oxford

Mortgage technology firm FNC Inc. is in the middle of the design phase of its new headquarters in Oxford, a complex that will not only give the growing company needed space, but also reflect the city of Oxford’s vision for large, campus-like environments. “We have been working on our plans for about three years,” said […] [...]

Trustee wants Vantium to service Community Home loans

JACKSON — United States Bankruptcy Court for the Southern District of Mississippi has approved the request of Kristina M. Johnson, Chapter 11 trustee of the bankruptcy estate of Community Home Financial Services Inc., to retain Vantium Capital Inc. (d/b/a Acqura Loan Services) to service mortgage loans on behalf of the bankruptcy estate. Johnson’s appointment as […] [...]

State’s consumers in line for payments under SunTrust settlement

JACKSON — Attorney General Jim Hood says Mississippi consumers will be eligible for payments under a settlement between 48 states, the federal government and SunTrust. The U.S. Justice Department said yesterday the $968-million settlement resolves allegations that SunTrust underwrote and provided faulty mortgage loans. The federal government accused SunTrust of giving borrowers false and misleading […] [...]

Report: State ranks third in U.S. in negative-equity homes

IRVINE, Calif — CoreLogic has released new analysis showing more than 300,000 homes returned to positive equity in the first quarter of 2014, bringing the total number of mortgaged residential properties with equity to more than 43 million. The CoreLogic analysis indicates that approximately 6.3 million homes, or 12.7 percent of all residential properties with […] [...]

Attorney pleads guilty to defrauding two banks, court

BILOXI — A Coast attorney has pleaded guilty covering up evidence connected to a scheme to defraud two banks and the U.S. Bankruptcy Court. The government says in a news release that it is seeking restitution on behalf of the victims in the amount of $7.7 million. Stephen Richard Colson entered the plea in U.S. […] [...]

FNC index: U.S. home prices show fastest growth since 2012

by Published: February 18,2014

Tags: FNC Inc, home, home price, house, mortgage, residence, residential real estate

OXFORD — The latest FNC Residential Price Index (RPI) shows U.S. home prices continue to rise. As of December, the RPI indicates the fastest year-over-year growth since the recovery began in early 2012. The index, constructed to gauge price movement among normal home sales exclusive of distressed properties, was up 0.3 percent in December — […] [...]

American Bankers Association sees ample merit in new mortgage rules

by Published: January 24,2014

Tags: banking, Business, finance, lending, Mississippi, mortgage

While individual U.S. banking members may have their hands full in coming months complying with the new federal qualified mortgage rules, the organization that represents them — the American Bankers Association — says it is pleased with the shape new lending rules took. The ABA says it and a broad coalition of groups involved in […] [...]

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