Entries by Progress In Lending

On The Move: Filling Key Positions

*Filling Key Positions*
**The Latest New Hires And Promotions**

***We need leaders. Our industry has gotten a black eye and we need some innovators that are not afraid to shake things up. For this reason, it’s good that David H. Stevens has agreed to stay on as President and CEO of the Mortgage Bankers Association. Recently, Stevens indicated he planned to leave the association in order to accept a position at SunTrust Mortgage, a long-standing active MBA member. Those plans have now changed. Here’s the story on Stevens and another high-profile executive move at Equator:

Understanding The News: Controlling The Raging Delinquency Flames

*Controlling The Raging Delinquency Flames*
**New Data Emerges**

***Severely delinquent balances among first mortgages are on the decline according to Equifax’s May National Consumer Credit Trends Report. While still elevated relative to historic levels, the May 2012 total of $450 billion in delinquent balances represents a 37% decline from the peak of more than $700 billion in January 2010. Of note is that 70% of outstanding delinquencies among first mortgages still remain tied to loans opened between 2005-2007.

Understanding The News: Your LOS Should Help You Sound The Compliance Alarm

*Your LOS Should Help You Sound The Compliance Alarm*
**New Integration Launches**

***Do you fear compliance? Your LOS should help. For example, LOS LendingQB has completed an integration with ComplianceEase, a provider of mortgage compliance and risk management solutions. LendingQB integrated ComplianceEase’s ComplianceAnalyzer product with its LOS. The solution automatically runs continuous real-time audits throughout the origination lifecycle of the loan to ensure compliance with federal, state, and municipal consumer credit regulations.

Understand The News: Providing A Richer Servicing Dataset

*Providing A Richer Servicing Dataset*
**CoreLogic Steps Up**

***PROGRESS in Lending has been told that CoreLogic, a provider of information, analytics and business services, is now incorporating anonymized servicer stop advance data into its private-label Residential Mortgage-Backed Securities (RMBS) dataset. This trustee-submitted data will be provided free of charge to both existing and new RMBS data clients.

Understanding The News: eLynx Gets Kudos

*eLynx Gets Kudos*
**Receives Award**

***eLynx has been recognized for the second consecutive year as one of the best places to work in the Greater Cincinnati and Northern Kentucky region by the Cincinnati Enquirer. The list of Top Workplaces award winners, was published on Sunday, June 17. Here’s why they won:

Understanding The News: Is Ellie Mae Preparing For Another Acquisition?

*Is Ellie Mae Preparing For Another Acquisition?*
**Selling Shares**

***Ellie Mae intends to offer, subject to market and other conditions, 3,000,000 shares of its common stock. In addition, Ellie Mae expects to grant the underwriters a 30-day option to purchase an additional 465,245 shares of common stock to cover over-allotments, if any. Certain of Ellie Mae’s directors and executive officers also intend to offer 101,638 shares of common stock. Ellie Mae intends to use the net proceeds from this offering for working capital and general corporate purposes, which may include the acquisition of, or investment in, technologies, solutions or businesses that complement the company’s business.

On The Move: Executive News At Clayton And Churchill

*Executive News At Clayton And Churchill*
*Tracking The Latest New Hires And Promotions**

***Today we’ll be reporting on two executive moves, one new hire and one promotion. First, Clayton Holdings LLC, a provider of due diligence, underwriting and surveillance services to the residential and commercial mortgage and fixed-income industries, announced today that Robert A. Harris has joined the company as general counsel. In this role, Harris will be responsible for all legal and regulatory aspects of Clayton’s businesses. He will report to Paul Bossidy, Clayton’s chief executive officer.

Understanding The News: How Long Does It Take To Close A Loan?

*How Long Does It Take To Close A Loan?*
**New Research Sheds Light on Cycle Times**

***Ellie Mae released its Origination Insight Report for May 2012. The report draws its data and insights from a sampling of the significant volume of loan applications—more than 20% of all originations in the United States—that flow through Ellie Mae’s Encompass360 mortgage management software and Ellie Mae Network. Here’s the scoop on cycle times, volume, and much more:

On The Move: Great Minds Are In Demand

*Great Minds Are In Demand*
**New Hires Exude Industry Knowledge**

***Where is the market going? Have we hit bottom? Who knows. Everyone has an opinion. What can be said with certainty is that if you’re looking to build your executive team, now is not the time to hire the new guy with no mortgage experience. In a volatile market, experience matters. Recent hires at Interthinx and Gateway prove this point. Here’s the news:

Understanding The News: Success Stories Still Exist

*Success Stories Still Exist*
**Vendor Serves A Unique Need**

***We are all used to bad news, but some providers have good news to share, as well. For example, Orion Financial Group, a provider of mortgage assignment, lien release and document retrieval services, announces a 29.4 percent year-over-year increase in the number of transactions performed for lenders, servicers and investors. Orion attributes the growth to its ability to quickly and accurately provide document services, as well as to greater demand for those services by mortgage servicers, credit unions, and lenders as delinquency and foreclosure levels remain elevated.