WASHINGTON — Talk of shrinking the government’s involvement in the mortgage market is growing. Just don’t expect action any time soon. A conference today at the Treasury Department is the first of many steps toward restructuring the nearly $11-trillion mortgage market. So far, rescuing mortgage giants Fannie Mae and Freddie Mac has cost the government [...] [...]
OXFORD — FNC Inc. has partnered with Integrated Asset Services (IAS) to offer FNC’s servicing clients an option for procuring next-generation real estate valuations that are more precise than ever. With the IAS option already fully integrated into FNC’s Collateral Management System (CMS) platform, FNC clients can take advantage of this technology to order broker [...] [...]
ACROSS MISSISSIPPI — The number of Mississippi residents faced with the loss of their homes through foreclosure rose in July, but the rate still is one of the lowest in the United States. RealtyTrac, which tracks foreclosure actions nationwide, said that 415 homeowners received a foreclosure-related notice last month. Those notices range from an initial [...] [...]
ACROSS MISSISSIPPI — Fewer foreclosure notices are going out in Jackson — but more homeowners in Gulfport-Biloxi are getting into mortgage trouble. RealtyTrac, which tracks foreclosures nationwide, reports 527 foreclosure notices in Jackson during the first half of 2010, affecting one in every 423 homes. That’s down 39 percent from the first half of 2009 [...] [...]
WASHINGTON — Sales of new homes jumped last month, but it was the second-weakest month on record. The lackluster economy has made potential buyers skittish about shopping for homes. New home sales rose nearly 24 percent in June from a month earlier to a seasonally adjusted annual sales pace of 330,000, the Commerce Department said [...] [...]
WASHINGTON — Resolving a high-profile government case linked to the mortgage meltdown, Goldman Sachs & Co. has agreed to pay a record $550 million to settle civil fraud charges that it misled buyers of complex investments. The Securities and Exchange Commission announced the settlement yesterday with the Wall Street titan, just hours after Congress gave [...] [...]
OXFORD — Marshall & Ilsley (M&I Bank) has selected FNC solutions to electronically distribute and receive various components of M&I Bank’s mortgage business including title, appraisal and flood orders. Mortgage technology company FNC, Inc. is creator of the Collateral Management System (CMS), a compliance and workflow solution used by the nation’s largest mortgage lenders. “The [...] [...]
JACKSON — The Mississippi Supreme Court has disbarred an attorney convicted with two other in a federal mortgage fraud scheme. Kimberly A. Castle was one three people convicted in the case. The Supreme Court yesterday granted the Mississippi Bar’s petition for disbarment. Prosecutors say Castle and the others bought distressed property in Hattiesburg, Petal, Laurel [...] [...]
ACROSS MISSISSIPPI — The number of Mississippi residents facing the potential loss of their homes is dropping. That’s according to RealtyTrac, which tracks foreclosure notices nationwide. Last month, there were 358 foreclosure-related actions in Mississippi. Those range from an initial notice of default to the actual loss and repossession of a residence by a lender. [...] [...]
OXFORD — Mortgage technology company FNC Inc. is the newest member of the Mississippi Innovators Hall of Fame, an honor given to Mississippi entrepreneurs and inventors whose creativity has spawned jobs and economic development in the state. “We have offices in California and Texas but this fantastic honor resonates with us emotionally because we kept [...] [...]
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