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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.

Castle & Cooke Mortgage Opens New Location In Tennessee

Posted by Patrick Barnard on June 09, 2017

Castle & Cooke Mortgage reports that it has opened a new branch in the Memphis, Tennessee area. John Brawner, who has 24 years of mortgage industry experience, will manage the new branch. “The addition of the greater Memphis market is [Read More]

Report Shows That 68% Of Loan Defects In 2016 Were Related To TRID

Posted by Patrick Barnard on June 09, 2017

More than 68% of loan defects reported in 2016 were related to the TILA-RESPA Integrated Disclosures (TRID) rule, data from mortgage software firm ACES Risk Management (ARMCO) shows. The firm’s Mortgage QC Industry Trends Report for the fourth quarter of [Read More]

Barry Malone: Customers Appreciate Having Their Loans Serviced By Their Original Lender

Written by Patrick Barnard on June 09, 2017

PERSON OF THE WEEK: Barry Malone is senior vice president of sales for Financial Industry Computer Systems Inc., a provider of mortgage loan origination and mortgage servicing software. MortgageOrb recently interviewed Malone to learn more about the challenges of in-house [Read More]

IDS Adds Mortgage Document Preview Feature To LendingQB Integration

Posted by Patrick Barnard on June 09, 2017

Mortgage document preparation vendor International Document Services Inc. (IDS) says it has incorporated a new document preview feature into its integration with LendingQB’s cloud-based loan origination solution (LOS). The feature allows LendingQB users to preview mortgage documents, such as the [Read More]

MBA: Mortgage Credit Availability Decreased In May

Posted by Patrick Barnard on June 08, 2017

Mortgage credit availability fell 1.1% in May compared with April to a score of 181.0 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI). A decrease in the MCAI indicates that lending standards are tightening, while increases are [Read More]

Appraisal MC Launches Priority Panels

Posted by Patrick Barnard on June 08, 2017

Appraisal management company (AMC) Appraisal MC recently launched Priority Panels, an appraisal service that allows mortgage lenders in key metropolitan areas to get appraisals in as little as two to five business days. The service is designed to help mortgage [Read More]

Mortgage Servicer Fay Servicing Penalized By CFPB For Illegal Foreclosure Practices

Posted by Patrick Barnard on June 07, 2017

The Consumer Financial Protection Bureau (CFPB) has ordered mortgage servicer Fay Servicing to pay up to $1.15 million in redress to borrowers for “failing to provide mortgage borrowers with the protections against foreclosure that are required by law.” The bureau [Read More]

Land Home Rolls Out New Down Payment Assistance Program

Posted by Patrick Barnard on June 07, 2017

Privately owned, nationwide, community-focused mortgage lender Land Home Financial Services Inc. (Land Home) recently introduced House2Home, an exclusive down payment assistance and educational program aimed at helping prospective first-time and repeat home buyers achieve the dream of homeownership. The timing [Read More]

USRES Hires Tiffany Malm-Ruiz To Oversee REO Division

Posted by Patrick Barnard on June 07, 2017

Tiffany Malm-Ruiz has joined USRES, a provider of real estate owned (REO) asset management, default management and valuation solutions to the mortgage industry, to help manage the firm’s REO division. Malm-Ruiz has extensive experience in default mortgage servicing and asset [Read More]

MBA: Mortgage Application Volume Jumped 7.1% During Memorial Day Week

Posted by Patrick Barnard on June 07, 2017

Mortgage application volume jumped 7.1% on an adjusted basis during the week ended June 2, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The volume estimate was adjusted to account for the Memorial Day holiday. Applications for [Read More]

CoreLogic To Purchase Appraisal Software Provider Mercury Network

Posted by Patrick Barnard on June 06, 2017

CoreLogic is acquiring valuation technology and appraisal management platform provider Mercury Network. The global property data and analytics firm reports that it has acquired a 45% passive minority stake in Mercury Network from Mercury’s parent company, Serent Capital, and that [Read More]

Kiel Mortgage Using ReverseVision To Originate HECMs

Posted by Patrick Barnard on June 06, 2017

Kiel Mortgage has chosen ReverseVision‘s RV Exchange (RVX) loan origination software (LOS) to power its home equity conversion mortgage (HECM) division. Founded three decades ago by a husband-and-wife team, Kiel Mortgage is a privately held mortgage lender serving three states [Read More]

Fulton Financial Corp. Upgrades To FirstClose’s Complete New Report System

Posted by Patrick Barnard on June 06, 2017

Fulton Financial Corp., a Lancaster, Penn.-based financial holding company that has 242 banking offices in Pennsylvania, Maryland, Delaware, New Jersey and Virginia through its subsidiary banks, is now using the new, complete FirstClose Report system, a refinance and home equity [Read More]

DIMONT Promotes Tom Stover To Chief Solutions Officer

Posted by Patrick Barnard on June 06, 2017

Tom Stover has been promoted to chief solutions officer at DIMONT, a provider of specialty insurance and loan administration services to the residential and commercial mortgage industries. Stover has more than 25 years of experience in the financial services industry [Read More]

ClosingCorp Introduces Proprietary Rate Engine For Title Companies

Posted by Patrick Barnard on June 06, 2017

ClosingCorp, a provider of residential real estate closing cost data and technology for the mortgage industry, recently released SmartEngine, an advanced rate management solution that enables title organizations to collect and manage their specific rate and fee data. With this [Read More]

MBA: Cost To Originate A Mortgage Hit New Peak In Q1 At $8,887 Per Loan

Posted by Patrick Barnard on June 06, 2017

Mortgage lenders made a little less profit per loan during the first quarter, due mainly to higher operating expenses. According to the Mortgage Bankers Association’s (MBA) quarterly performance report, lenders saw a net gain of $224 on each loan they [Read More]

California Escrow Company, ValuEscrow, Acquired By ValuAmerica

Posted by Patrick Barnard on June 06, 2017

ValuAmerica, a wholly owned subsidiary of Clayton Holdings and national provider of appraisal, title, closing and settlement services, has acquired ValuEscrow Inc., an independent escrow company located in Santa Ana, Calif. Terms of the deal – which expands ValuAmerica’s closing [Read More]

CoreLogic: U.S. Home Prices Increased 1.6% In April

Posted by Patrick Barnard on June 06, 2017

Currently, CoreLogic is forecasting that home prices will increase 5.1% from April 2017 to April 2018.

Maryland Adopts Fast-Track Foreclosure Law

Posted by Patrick Barnard on June 05, 2017

Maryland Gov. Larry Hogan recently signed into law a fast-track foreclosure bill that will expedite the foreclosure process for vacant properties. Last year, the state of Ohio passed a similar measure, with the intent to reduce community blight. “Blight caused [Read More]

Will Administration’s Policies Have A Positive Effect On The Mortgage Market?

Posted by Patrick Barnard on June 05, 2017

About 73% of mortgage lenders believe the new administration’s policies will have a positive impact on the lending environment, according to the Lenders One Mortgage Barometer, a monthly survey of 200 mortgage lending professionals. “Despite some industry concerns over rising [Read More]