DepotPoint, Inc. announced Wednesday that James G. Jones, with 35 years of management experience in banking, consumer lending, payment processing, and related financial services, has joined the company's board of directors.

The risk retention provision of the House Financial Services' Committee's too-big-to-fail draft legislation will cripple the ability of community-based lenders to get secondary mortgage market funding and could have the ironic effect of further concentrating mortgage lending, the Community Mortgage Lenders of America and Community Mortgage Banking Project warned.

Unemployment is plaguing nearly every corner of the country, and economists don't expect the numbers to reverse soon.

BidTrackerPro.com has teamed up with what the company calls top-producing REO agents to develop a new online system for finding performance-rated contractors and managing property preservation workflow.

Independent mortgage bankers made an average profit of $1,358 on each loan they originated in the second quarter of 2009, the Mortgage Bankers Association (MBA) reported Monday.

NewOak Capital has announced the appointment of Jay Lown as managing director and senior member of its financial institutions group.

The government-backed mortgage giant Fannie Mae mae.com has raised the ante for lenders wanting to do business with it.

Clayton Holdings LLC, a provider of customized risk analysis, loss mitigation, operational solutions, and staffing services to the mortgage industry, announced Monday that Thomas Gere has joined the company as senior managing director.

The United States is at the beginning of a huge crash in commercial real estate, billionaire investor Wilbur Ross warned, saying he would use extreme caution before putting money into the sector.

Collapses of regional community banks continue to pad the ""FDIC's failed bank list"":http://www.fdic.gov/bank/individual/failed/banklist.html. The agency stepped in to close down nine on Friday – three in California, three in Texas, two in Illinois, and one in Arizona.