Mortgage News
Former Quicken Executive Launches New Firm
Hall Financial announced that it launched this month.
David Hall is the founder and managing partner of the Michigan-based company.
Hall spent eight years as senior vice president and chief marketing officer at Quicken Inc.-subsidiary Rock Financial.
Risk of Default Drops
A report announced by the University of Michigan's Ross School of Business indicated that the risk of mortgage defaults declined between the fourth-quarter 2009 and the first-quarter of this year.
It was the lowest point for the index since 2005.
The index reportedly measures the risk of default on newly originated mortgages by tracking local and national economic conditions.
Berkshire Unit Settles With NC
A settlement with Vanderbilt Mortgage and Finance Inc. was announced by the North Carolina Office of Commissioner of Banks.
The state alleged numerous violations of North Carolina law.
Vanderbilt was included in the 2006 acquisition of Clayton Homes Inc. by Berkshire Hathaway.
Wells Adds 6,000 Servicing Jobs in 6 Months
In August 2009, Wells Fargo Home Mortgage reported that its U.S.-based servicing staff stood at 11,500.
At the time, the company noted that it was staffing up to handle a backlog of pending loan modifications.
As of February, Well Fargo's servicing staff climbed to more than 14,500 employees, according to data reported by Moody's Investors Service.
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Real Estate News
Learn About the 2009 First-Time Home Buyer Tax Credit
Attention potential home buyers! Take advantage of an $8,000 tax credit toward the purchase of a principal residence for first-time buyers on or after January 1, 2009 and before December 1, 2009. And to make the deal even better, the credit does not require repayment. It's all part of the American Recovery and Reinvestment Act.
New Tax Credit for First-time Homebuyers Available
A $7,500 tax credit is now available for any qualified purchase between April 8, 2008 and June 30, 2009, as part of the Housing and Economic Recovery Act of 2008.
Learn about the tax credit >
Understand the Housing and Economic Recovery Act >
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