Origination

Fiserv, Inc., a provider of technology solutions for the financial services industry, says lenders and servicers seeking help to maintain compliance should look no further than the LoanComplete suite.

CredAbility and ClearPoint Credit Counseling Solutions announced Tuesday that they have agreed to merge effective December 31, 2013.

Though recent reports seem to indicate a hitch in the ongoing housing recovery, Fitch Ratings maintains its expectations of a healthy increase in housing metrics through this year and the next. "As we have noted previously, recovery in the housing market will likely occur in fits and starts and housing absolute numbers are still low relative to past cycles," the company said in its latest analysis. "Expansion should not be expected as a total slope upward, as there are a number of variables that intervene."

According to monthly statistics released by Mortgage Insurance Companies of America (MICA), member companies issued 46,051 policies in August, down from 50,575 in July. Activity was still higher than last year, though, when members issued 43,949 policies. The drop came despite an increase in applications received in July. Meanwhile, loan performance picked up after deteriorating for four straight months, with the ratio of cures to defaults rising more than 15 percentage points to 93.6 percent.

MortgageDocs, a national mobile notary signing service headquartered in California, announced the launch of myMortgageDocs, the company's new proprietary signing management platform for notaries, lenders, title, and escrow companies.

STRATMOR Group, a Georgia-based consulting firm specializing in all aspects of mortgage lending, promoted Lisa Springer to COO.

Using weekly data released by the Mortgage Bankers Association (MBA), Capital Economics economist Paul Diggle calculated a 7.7 percent drop in mortgage applications from August to September.

Most economists agreed that the broader effects of the shutdown should be minimal, assuming that the shutdown is short-lived.

In Connecticut, Norcom Mortgage welcomed Mary Downing to the team as its newest wholesale account executive.

According to CoreLogic's monthly Home Price Index (HPI) report, house prices nationwide (including distressed sales) increased 12.4 percent on a yearly basis in August. On a monthly basis, prices were up only 0.9 percent. "After a strong run, the rate of home price appreciation slowed in August. In addition to normal seasonality, the recent sharp rise in mortgage rates off their historic lows was a clear driver behind the slowdown," said Anand Nallathambi, CoreLogic's president and CEO.