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Author Archives: Kerri Panchuk

The Subprime Litigation Tsunami: Are We Dealing with Case Overload?

The number of subprime-related lawsuits filed in federal court during the first quarter of 2008 is on pace to outdo subprime-related litigation figures from last year, as well as the number of federal lawsuits filed in the early 1990s after the tumultuous Savings-and-Loan scandal, according to a new report from global consulting firm Navigant Consulting, Inc.

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CampusMBA Offers Course in Loss Mitigation

All the turmoil in today’s mortgage banking sector has made the need for qualified loss mitigation professionals much more poignant. The Mortgage Bankers Association (MBA) says its education platform, CampusMBA, is prepared to meet this need through the launch of a new instructor-led workshop focusing on the practice of loss mitigation.

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BofA to Change Lending Guidelines

Banking giant Bank of America (BofA) said this week that it intends to revamp its mortgage lending guidelines as soon as the acquisition of subprime lender Countrywide Financial Corp. is complete. The changes are expected to come after the closing of the transaction in the third quarter of 2008.

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eMASON Rolls Out Clarifire Upgrade

Clearwater, Florida-based eMASON, a provider of process centric solutions and workflow management tools, has introduced an upgraded version of its Clarifire product—Clarifire 3.0—to offer clients an expanded version that includes a user portal, an efficient discussion board and an automated document assembly function.

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NYLX Names Tom Unterberg to Board

Technology provider NYLX, a firm that specializes in point of sale products, as well as technology systems related to pricing, announced this week that Tom I. Unterberg has joined the company’s Board of Directors.

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National City to Raise $7 Billion in Capital

After a first quarter net loss of $171 million, or $.27 per diluted share, Cleveland, Ohio-based National City Corp. said its Board plans to raise $7 billion in capital, with a large portion of that capital infusion—approximately $985 million—coming from private firm Corsair Capital, LLC.

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