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Author Archives: Kerri Panchuk

ResMAE No Longer Originating New Loans

Brea, California-based ResMAE Mortgage Corp. announced this week that it’s no longer issuing new loans, effective November 6, 2007. In a letter posted on the company’s Web site, the lender said it will continue to honor commitments placed with ResMAE before November 6th as required by ResMAE policy and state requirements.

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SAS Offers I Short Sale Listings Online

Strategic Asset Solutions, a broker advisory firm that assists with alternative disposition solutions, announced Tuesday that it’s now offering subsidiary I Short Sale Inc.’s short sale listings on its Web site (http://reosas.

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A New Seal of Approval for Mortgage Brokers?

How do you spot a good mortgage broker—or a bad one for that matterx That’s the million dollar question that industry experts have been asking themselves since the onset of the subprime lending meltdown.

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Citigroup CEO Steps Down Amid Subprime-Related Concerns

Citigroup Inc. announced over the weekend that Chief Executive Officer Charles Prince has decided to step down because of challenging business conditions related to the subprime mortgage market. In a statement, the chief executive said, We have made strong progress in our strategy for building for the future, evidenced in the momentum we have achieved in most of our businesses.

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MCS Appoints New V.P. of Operations

Tampa, Florida-based Mortgage Contracting Services (MCS), a property preservation services provider, has appointed Anthony Box to the position of vice president of operations. Box, who is described by MCS as a seasoned financial real estate specialist will work on the enhancement of operations, while also helping the company’s clients manage their REO portfolios.

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Single-Family Home Sales Decline in Connecticut

A new report has less-than-optimistic news for Connecticut homeowners. The Warren Group of Banker & Tradesman—says single-family home sales in Connecticut fell 21.8-percent in September. The firm describes the drop as the largest monthly decrease since September 2006.

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