Government

As issues related to compliance regulations continue to escalate, Connecticut-based Norcom Mortgage is preparing to meet the challenges ahead by hiring accordingly. The company recently announced the addition of Jeremy Potter, who will join Norcom as chief compliance attorney.

New York Attorney General Eric T. Schneiderman accused Wells Fargo of using Hurricane Sandy to evade obligations under the national mortgage settlement.

The Consumer Financial Protection Bureau (CFPB) is granting more time to implement new mortgage disclosures required under the Dodd-Frank Act.

NewDay USA, LLC, announced it is packing up and moving its Maryland office into a new 60,000 square foot facility to better support the launch of NewDay USA University, an educational and training center created for new and established mortgage banking professionals.

Capsilon's revenue in this year's third quarter was double that of the same period last year, the company announced. The San Francisco-headquartered provider of cloud-based document sharing, imaging, and collaboration solutions for mortgage lenders reported its revenue for the first nine months of 2012 is also double that of the first three quarters of 2011.

Despite a relatively flat September, FNC's latest Residential Price Index (RPI) showed home prices were up in the third quarter. Based on recorded sales of non-distressed properties (both new and existing homes) in the 100 largest metropolitan statistical areas (MSAs), September home prices were mostly unchanged from August. However, prices were up 2.3 percent from September 2011, the largest yearly increased since February 2007. September also marked the third straight month of year-over-year price improvement.

The NAHB revealed 74.1 percent of all homes sold in Q3 were affordable to families earning the U.S. median income.

Prospect Mortgage, a provider of home renovation and purchase financing, announced it is offering two loan programs to help homeowners impacted by Hurricane Sandy rebuild their lives. The programs, backed by the Federal Housing Administration (FHA), provide funding beyond insurance or other disaster assistance by offering financing for owners in declared disaster areas to repair or rebuild their homes or even to purchase a new home if necessary.

Since the IRS will soon allow electronic signatures on Form 4506-T, Equifax has enhanced verifications services in anticipation of the change.

Hope LoanPort announced the availability of free local housing counselor resources through its Homeowner Connect website. Additionally, the organization encourages homeowners impacted by Sandy to reach out to their insurance company, servicer, and to the Federal Emergency Management Agency (FEMA). For homeowners wishing to discuss options such as forbearance with their servicer, Homeowner Connect provides a localized map of free, nonprofit housing counselors available to help.