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Patrick Barnard
Patrick Barnard is a seasoned journalist with more than 20 years of experience in newspapers, magazines and online media. Prior to becoming editor for MortgageOrb.com, as well as Secondary Marketing Executive and Servicing Management magazines, he worked as a regional editor for AOL's Patch Media, covering daily news in lower Fairfield County, Conn. He also held editor roles with Technology Marketing Corp. and Penton Media. He started his career in journalism as a reporter for The Darien Times, a weekly newspaper servicing Darien, Conn., eventually rising to the rank of editor. He has also done freelance work for a number of publications. He can be reached at pbarnard@zackin.com.

Mortgage Application Defect Risk Increasing As Refinance Volume Drops

Posted by Patrick Barnard on February 24, 2017

The risk of defects in applications for mortgages increased 5.8% in January compared with December and increased 3.9% compared with January 2016, according to First American Financial Corp.’s Loan Application Defect Index, which reflects estimated mortgage loan defect rates over time, [Read More]

ClosingCorp Hires Craig Austin As SVP Of Sales And Business Development

Posted by Patrick Barnard on February 24, 2017

Craig Austin is now working for ClosingCorp, a provider of residential real estate closing cost data and technology, as senior vice president of sales and business development. Previously, Austin held sales and account management positions at RealEC Technologies/Black Knight Financial [Read More]

ARMCO Adds New Capabilities For Mortgage Servicers

Posted by Patrick Barnard on February 24, 2017

ACES Risk Management (ARMCO), a provider of financial quality control (QC) and compliance software, has improved the functionality to its ACES Audit Technology by allowing mortgage servicers to customize and internally standardize their customer questionnaires based on how they interpret [Read More]

Black Knight: Prepayment Speeds Down Nearly 30% In January

Posted by Patrick Barnard on February 23, 2017

Mortgage delinquencies (30 days or more past due but not in foreclosure) were at a rate of about 4.25% in January – a decrease of 3.85% compared with December and a decrease of 16.57% compared with January 2016, according to [Read More]

Parkside Lending Now Offering Fannie Mae’s HomeReady Mortgage

Posted by Patrick Barnard on February 23, 2017

Parkside Lending, a national wholesale and correspondent lender, is now offering Fannie Mae’s HomeReady Mortgage, an affordable lending option for low- to moderate-income borrowers who otherwise may not qualify for a conventional Fannie Mae loan. The loan underwriting guidelines include [Read More]

Mortgage Network Hires Christina Taraborelli As Loan Officer

Posted by Patrick Barnard on February 23, 2017

Christina Taraborelli has joined Mortgage Network Inc., one of the largest mortgage bankers in the eastern U.S., as a loan officer in the company’s Conshohocken, Pa., branch office. Taraborelli, who is licensed to do business in Pennsylvania and New Jersey, [Read More]

What Is The CFPB’s Ultimate Fate?

Written by Patrick Barnard on February 22, 2017

MORNING COMMUTE: I was at the Mortgage Bankers Association’s National Mortgage Servicing Conference & Expo 2017 in Dallas this past week, and, somewhat embarrassingly, I am just now getting caught up. But first, the music this morning was Jethro Tull’s [Read More]

Mortgage Servicer BSI Financial Deploys Advanced Analytics Engine

Posted by Patrick Barnard on February 22, 2017

Mortgage servicer BSI Financial Services reports that it is now using an advanced analytics engine to monitor its approximately $10 billion servicing portfolio. Using this in-house-developed, proprietary analytics tool, BSI can identify and resolve issues with loans before they become [Read More]

Indecomm’s IncomeGenius Now Integrated With Ellie Mae’s Encompass

Posted by Patrick Barnard on February 22, 2017

IncomeGenius, an income calculation and analysis platform from Indecomm Global Services, is now integrated with Encompass, Ellie Mae’s loan origination system. That means lenders using Encompass can perform income analysis using IncomeGenius without having to exit the Encompass platform. IncomeGenius [Read More]

SouthLaw Hires Two Associate Attorneys For Its Iowa Foreclosure Department

Posted by Patrick Barnard on February 22, 2017

SouthLaw PC, a law firm servicing the mortgage default servicing industry, recently hired two new associate attorneys for its Iowa Foreclosure Department located in the firm’s West Des Moines, Iowa, office. James J. Larson, who joined the firm in January, [Read More]

Appeals Court Rules Against Fannie, Freddie Investors On Third Amendment Sweep

Posted by Patrick Barnard on February 22, 2017

A federal appeals court on Tuesday issued a ruling that will prevent investors in government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac from fully recouping on their investments. Investors from Perry Capital and others allege that they were illegally duped [Read More]

MBA: Mortgage Application Volume Fell As Rates Increased Slightly

Posted by Patrick Barnard on February 22, 2017

Mortgage application volume fell 2.0% on an adjusted basis last week as applications for refinances decreased 1.0% and applications for purchases decreased 3.0%, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. On an unadjusted basis, applications for [Read More]

Despite Low Inventory And ‘Deteriorating Affordability,’ Existing-Home Sales Jumped 3.3%

Posted by Patrick Barnard on February 22, 2017

Lawrence Yun, chief economist for NAR, characterized the 3.3% month-over-month increase in home sales as “a prosperous start” to 2017.

MetaSource Deepens Its Mortgage Offerings With Acquisition Of Orion Financial Group

Posted by Patrick Barnard on February 21, 2017

In a move that will expand and add depth to its existing lien release offering, business process outsourcing firm MetaSource is buying Dallas-based assignment, lien release and document retrieval firm Orion Financial Group for an undisclosed sum. MetaSource, which acquired [Read More]

myCUmortgage Launches Its Own Servicing Operation

Posted by Patrick Barnard on February 21, 2017

myCUmortgage, a credit union service organization wholly owned by Wright-Patt Credit Union, has launched a new mortgage servicing operation that focuses not only on relationship building, but also on superior member service, resulting in greater member retention. Basically, the company [Read More]

S&P/Experian: Mortgage Default Rate Up Slightly In January

Posted by Patrick Barnard on February 21, 2017

The default rate for first mortgages was 0.72% in January – up from 0.71% in December but down from 0.84% in January 2016, according to the S&P/Experian Consumer Credit Default Indices. The default rate for second mortgages was 0.48%, up [Read More]

Premium Title Now Integrated With LendingQB

Posted by Patrick Barnard on February 21, 2017

Premium Title, an Altisource company and a national provider of title and escrow services, is now integrated with LendingQB’s end-to-end, browser-based loan origination system, thus providing users with the ability to obtain title and settlement quotes faster without leaving the [Read More]

Starkey Mortgage Hires Tim Cotten To Head Up New Recruitment Division

Posted by Patrick Barnard on February 21, 2017

Tim Cotten has joined Starkey Mortgage as director of recruiting. Cotten has more than 10 years of recruitment, leadership and business development experience in the mortgage industry. Previously, he worked for SWBC Mortgage as assistant vice president and manager of [Read More]

LRES Rolls Out Lien Alert Solution

Posted by Patrick Barnard on February 20, 2017

LRES, which offers valuations, real estate owned asset management, homeowners association (HOA) and other technology solutions for the mortgage and real estate industries, has launched a lien alert solution to enable servicers to continuously monitor their portfolios for liens and [Read More]

SLK Global Introduces Real Estate Tax Services

Posted by Patrick Barnard on February 20, 2017

SLK Global Solutions, offering technology solutions for the banking, mortgage and title industries, has launched a new product for mortgage servicers called RETS (real estate tax services). The “client-centric” tax service is for commercial and residential portfolios. “Property tax assessment [Read More]