Tag Archives: Atlas REO Services

Mortgage rates seem to be in a holding pattern. While still relatively low, rates remained flat for the second week in a row, Freddie Mac and Bankrate reported Thursday. According to Freddie Mac's Primary Mortgage Market Survey, 30-year fixed-rate mortgages averaged 5.06 percent with an average 0.7 point for the week ending April 29, 2010, barely budging from last week's average of 5.07 percent. And 15-year fixed-rate mortgages showed no movement from last week, holding steady at 4.39 percent with an average 0.7 point.

The Foreclosure Response Team (FRT) announced this week that Larry Bird, president of BirdRock Enterprises, has been hired as VP of mortgage servicer relations, serving as a corporate consultant for the Foreclosure Response Team.

James G. Jones was recently named as the newest member to the board of directors of DepotPoint, Inc., a default technology services provider based in Bellevue, Washington.

Certain legislative proposals on Capitol Hill have the potential to undermine the positives of FHA loan modernization by putting taxpayers at undue risk and by over-federalizing the housing market, Brian Montgomery, assistant Secretary—U.

A spokesperson for financial services giant J.P. Morgan & Chase Co. confirmed Monday that if a pending deal with Bear Stearns goes through, layoffs will follow. JP Morgan spokesperson Joe Evangelisti told DSNews.

Calabasas, California-based Countrywide Financial Corp. says diluted earnings per share jumped from $.72 in March to $.81 in June, while net earnings increased from $434 million to $485 million. Compared to the same period last year, Countrywide has experienced at least a $300-million drop in net earnings from $722 million in June of 2006 to $485 million in June of 2007.

Buffalo, New York-based M&T Bank Corp. has revealed losses in its Alt-A residential mortgage loan business, which the company says are related to challenges in the lending market. The company, in a press release, said its first quarter financial results will be affected by adverse market conditions as well as repurchases on previously sold Alt-A loans that defaulted within the first 90 days after the sale.