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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.

NCRC Study Shows Disproportionate Subprime Lending to Minorities

A new report by the National Community Reinvestment Coalition reveals high-cost, foreclosure-prone mortgage loans are disproportionately made to minority borrowers, regardless of their income level. The NCRC study, Income Is No Shield Against Racial Difference in Lending II, examined subprime and near-prime (Alt-A) loans from more than 219 metropolitan areas in 2006, the most recent public data available.

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Subprime Lawsuits Surge, According to NERA Study

According to a study released by NERA Economic Consulting this week, the number of shareholder class-action lawsuits rose sharply during the first half of 2008, largely due to a surge in cases resulting from the subprime mortgage crisis.

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Kenneth Kurel Named Partner at Trott and Trott, P.C

David Trott, managing partner of Trott and Trott, P.C., announced this week that Kenneth Kurel has been named partner at the firm. The Farmington Hills-based firm conducts residential default procedures in Michigan, representing mortgage bankers, banks, credit unions, mortgage servicers, regional property owners, investor groups, and individual entrepreneurs.

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James P. Gross Joins MBA as Associate Vice President

The Mortgage Bankers Association recently announced the appointment of James P. Gross as AVP of accounting, tax, and bank regulation. MBA also announced the retirement of Gross’ predecessor, Alison Utermohlen after 20 years of service with the association.

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UPDATE: Bush Signs Landmark Housing Bill Into Law

President Bush signed the Housing and Economic Recovery Act of 2008 (H.R. 3221) into law today. Since the beginning of the year, talk of housing reform has come from nearly every faction within the industry, with some leaders voicing a state of urgency as early as last year.

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MCS Appoints James Wade as AVP of Security and Compliance

Mortgage Contracting Services, a national property preservation and inspection company, announced the promotion of James Wade to AVP of security and compliance yesterday. According to MCS, in his new role, Wade ensures that the company exceeds the highest levels of physical and information security.

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