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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.
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RFR Secures $100M, 10-Year Financing For Park Ave. Property

Posted by Patrick Barnard on June 04, 2013

Real estate investment firm RFR Holding LLC has closed $100 million in financing for 345 Park Ave. South in Manhattan. The office floors are 100% occupied by Digitas, a digital marketing firm, which has leased its space through November 2021. [Read More]

Ishbia Named CEO Of United Shore Financial Services

Posted by Patrick Barnard on June 04, 2013

United Shore Financial Services (USFS) has tapped its current president, Mat Ishbia, to serve as its next CEO. He will succeed Kip Kirkpatrick, USFS' present CEO, who will take a seat on the company's advisory board. Ishbia also heads up [Read More]

Rich Kuegler Promoted At DataQuick

Posted by Patrick Barnard on June 04, 2013

San Diego-based real estate solutions provider DataQuick has promoted Rich Kuegler to senior vice president of branch production for DataQuick Title, formerly Rels Title. In his new role, Kuegler will oversee the operations of DataQuick Title's local market offices nationwide, [Read More]

Equity Loans Enters Wholesale Market, Adds Kingsley Kodan As SVP Of Sales

Posted by Patrick Barnard on June 04, 2013

In an effort to leverage alternate channels and build a stronger foundation for future operations, Atlanta-based residential mortgage provider Equity Loans LLC has reportedly expanded into the wholesale market. The lender reports that it now has wholesale licensing in more [Read More]

Stonegate Mortgage Corp. Now Offering Non-Agency ‘Jumbo’ Home Loans

Posted by Patrick Barnard on June 04, 2013

Fresh from raising $115 million in capital through a private sale of its common stock, Indianapolis-based Stonegate Mortgage Corp. is now offering non-agency ‘jumbo’ home loans through its network of retail offices, as well as through its more than 700 [Read More]

Mortgage Insurer Triad Guaranty Inc. Files For Chapter 11

Posted by Patrick Barnard on June 04, 2013

Seeking court protection from creditors, North Carolina-based mortgage insurance company Triad Guaranty Inc. has reportedly filed for Chapter 11 and may end up being sold or liquidated. The filing reportedly follows a North Carolina circuit court judge's decision to deny [Read More]

DocMagic’s eSign Approved By Equifax

Posted by Patrick Barnard on June 03, 2013

Equifax has reportedly approved DocMagic Inc. as an eSign provider for electronic IRS 4506-T requests. Equifax reports that it has been accepting orders electronically signed with DocMagic eSign since January. The approval means DocMagic customers seeking to verify income can [Read More]

LPS Empower Users Now Have Access To Equifax Undisclosed Debt Monitoring Solution

Posted by Patrick Barnard on June 03, 2013

Loan originators using Lender Processing Services' (LPS) Empower loan origination system now have direct access to the Equifax Undisclosed Debt Monitoring solution via the Empower platform, thus making it simpler to monitor borrowers for undisclosed debt. The integration means Empower [Read More]

Investors Learn Hard Way That Foreclosure Auction Scams Don’t Pay

Posted by Patrick Barnard on June 03, 2013

Federal authorities are reportedly cracking down on the illegal practice of rigging bids on foreclosed properties at bank auctions. According to a report in USA Today, federal prosecutors have charged 54 people and two companies for illegal bid-fixing in the [Read More]

Envoy Mortgage Using FICS Mortgage Servicer

Posted by Patrick Barnard on June 03, 2013

Houston-based Envoy Mortgage is now using Financial Industry Computer Systems' (FICS) Mortgage Servicer platform to manage its loan servicing operations. Envoy Mortgage had been outsourcing its loan servicing to a subservicer but recently decided to bring operations back in-house. As [Read More]

Texas Builder Settles With CFPB Over Allegations Of Kickbacks

Posted by Patrick Barnard on June 03, 2013

The Consumer Financial Protection Bureau (CFPB) recently reached a settlement with Texas homebuilder Paul Taylor, whom the agency accused of taking kickbacks for referring mortgage origination business to Benchmark Bank and Willow Bend Mortgage Co. As per the settlement, Taylor [Read More]

Mortgage Industry Sees Uptick In Hiring

Posted by Patrick Barnard on June 03, 2013

In yet another sign that the economy is gradually improving, the mortgage industry saw a net gain of 5,129 jobs in the first quarter of 2013 – the biggest increase since the second quarter of 2009, when 8,253 jobs were [Read More]

Commercial Mortgage Delinquencies Inch Up In May

Posted by Patrick Barnard on June 03, 2013

After posting its lowest reading in more than two years in April, the delinquency rate on commercial mortgages in the U.S. inched up in May, according to Trepp. The delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed [Read More]

BNY Mellon’s DM Edge Now Supports Bilateral Margining

Posted by Patrick Barnard on June 03, 2013

To help reduce counter-party and systemic risk, BNY Mellon's DM Edge now boasts expanded bilateral margining capabilities, including forward-settling of mortgage-backed securities. These new capabilities will help clients using DM Edge meet the recommendations of the Treasury Market Practices Group [Read More]

Nationstar Mortgage Completes Acquisition Of Greenlight Financial Services

Posted by Patrick Barnard on June 03, 2013

Nationstar Mortgage LLC, a subsidiary of Nationstar Mortgage Holdings Inc., has completed its acquisition of the origination platform and unfunded loan pipeline of Greenlight Financial Services for about $75 million. The all-cash deal, which is subject to certain post-closing contingencies, [Read More]

More Than 4.2 Million Homes At Risk Of Storm Surge On Atlantic, Gulf Coasts

Posted by Patrick Barnard on May 31, 2013

As a result of preliminary revisions to the Federal Emergency Management Agency's coastal flood maps, there are now more than 4.2 million homes along the U.S. Atlantic and Gulf coasts located in storm surge risk zones, creating more than $1.1 [Read More]

N.Y. Attorney General Says Banks Continued To Violate Mortgage Settlement After It Was Signed

Posted by Patrick Barnard on May 31, 2013

Less than three weeks after New York Attorney General Eric Schneiderman announced his intention to sue five U.S. banks for violating the terms of last year's National Mortgage Settlement, he reportedly wrote a letter to former North Carolina Banking Commissioner [Read More]

Lloyds Auctions Off $8.7B In U.S. Mortgage Bonds

Posted by Patrick Barnard on May 31, 2013

Four investment banks have reportedly bought $8.7 billion in U.S. residential mortgage-backed securities (RMBS) that were auctioned by Lloyds TSB on Thursday. News that Lloyds was planning to auction the bonds came earlier in the week, with media outlets citing [Read More]

U.S. Bank Can Proceed With Claim Against BofA, Judge Rules

Posted by Patrick Barnard on May 31, 2013

A New York State Supreme Court judge has reportedly ruled that a lawsuit brought against Bank of America by U.S. Bank, a unit of U.S. Bancorp, seeking the repurchase of home loans backing $1.75 billion of securities can proceed. As [Read More]

Zillow Enhances Its Mortgage Marketplace App For iPhone

Posted by Patrick Barnard on May 31, 2013

Real estate solutions provider Zillow Inc. reports that it has added new tools and features to its Zillow Mortgage Marketplace application for iPhone and iPad, including instant access to details, information and loan quotes for the Home Affordable Refinance Program [Read More]