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Author Archives: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

Former First Franklin CEO Tapped by Private Money Lender

WDB Funding, LLC, announced the appointment of Andrew Pollock as the firm's president and CEO. Pollock brings 25 years' experience heading large-scale lending operations to his new role, where he is responsible for providing day-to-day leadership, managing operations, and executing the strategic direction of the company.

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Bill Seeks to Extend Federal Tax Exemption for Forgiven Mortgage Debt

Mortgage Debt Relief Act

Congressman Bill Foster of Illinois introduced legislation on Tuesday that would extend the mortgage debt tax exemption that's been in place since 2007 for another two years. The Mortgage Debt Relief Act of 2007 gives tax-exempt status to debt that is reduced or cancelled through a loan modification or forgiven through a foreclosure or short sale. This tax relief, however, expired on December 31, 2013.

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Radian Offers Training and Resources on QM Compliance

Radian Guaranty Inc., the mortgage insurance (MI) subsidiary of Radian Group, announced the availability of additional training and resources to help lenders comply with the new Qualified Mortgage (QM) rule that went into effect on January 10. Radian's 45-minute webinars discuss how QM impacts MI and the company's QM-compliant product options.

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Florida Law Firm Rebrands and Expands Service to Puerto Rico

The veteran-, minority-, and woman-owned default services law firm founded by Marisol Morales, Esq., recently announced its expansion into Puerto Rico and a name change from Morales Law Group, PA, to Millennium Partners. The firm says the new name better reflects its expanded market reach and growth in staff.

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AIM Your Way Expands Executive Management Team

The national field services company AIM Your Way, LLC/America's InfoMart, Inc., welcomed two industry veterans to its executive management team. Anthony Golden has been named president and Todd Pawlinski was brought on as EVP of operations.

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Treasury Releases November Making Home Affordable Report

Nearly 23,000 permanent loan mods were completed under the Home Affordable Modification Program (HAMP) in November, according to the U.S. Treasury, bringing the total count of active HAMP mods to just over 922,000. Treasury officials also touted the government's Second Lien Modification Program (2MP), pointing out that more than 123,000 second liens have been modified, saving homeowners a median of $153 a month.

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Freedman Anselmo Lindberg Hires New Associate Counsel

Freedman Anselmo Lindberg, LLC, a Chicago-based creditors' rights law firm, announced the hiring of Anum Muhiuddin. She joins the firm as associate counsel in the default practice group, specializing in mortgage foreclosures. Muhiuddin is a graduate of the Northern Illinois College of Law and is licensed to practice in the state of Illinois.

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Shadow Inventory Lowest Since August 2008

The industry's shadow inventory of homes with mortgages 90 or more days delinquent, in foreclosure, or held as REO by mortgage servicers but not currently listed for sale stood at 1.7 million as of October 2013, according to CoreLogic. The supply of homes hidden in the shadows carries a value of $256 billion and is at its lowest level since August 2008. Shadow inventory has decreased at an average monthly rate of 46,000 units over the last year.

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Financial Asset Services Hires National Sales Director

Financial Asset Services, Inc. announced the addition of Jeanee Chapman as national sales director for the Irvine, California-based asset management and appraisal management company. Chapman brings more than 15 years' experience in REO sales and operations management to her new role.

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