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SunTrust Announces New SVP and Chief Credit Officer

SunTrust Mortgage, Inc., recently named Denis McLaughlin senior vice president and chief credit officer. In his new position, McLaughlin will oversee all areas of the company’s credit risk function, which includes credit policy and exception approval administration, forecasting and decision modeling, analytics and reporting, quality control, fraud mitigation, and third-party risk management.

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Congressman Fattah Introduces Bill to Assist Homeowners

A longtime promoter of homeownership, Congressman Chaka Fattah (D-PA) has teamed up with the National Urban League, the Philadelphia Urban League, and the Homeownership Preservation Foundation to launch a program in response to the alarming number of properties facing foreclosure.

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U.S. Bank Home Mortgage Crosses $100 Billion in Volume

U.S. Bank Home Mortgage reached a company milestone on January 4 when the company’s mortgage servicing surpassed $100 billion in volume. U.S. Bank is ranked sixteenth among mortgage companies in terms of servicing portfolio and is in the top 20 for mortgage originations.

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Foreclosures Continue to Rise Across the Nation

Foreclosure filings for 2006 nearly topped 1 million, a 51-percent increase from 2005, according to numbers from ForeclosureS.com. In the Northeast, foreclosures peaked at 64.6 percent. The region closed the books for 2006 with 96,101 foreclosure filings, up from only 58,394 in 2005.

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CoreLogic Enhances Cascading AVM Solution

CoreLogic announced Monday that significant enhancements have been made to its cascading automated valuations model (AVM) solution, AVMSelect™. The enhancements strengthen AVMSelect’s leadership reputation as a provider of highly reliable automated valuations.

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Universal Default Services Bought By ProVest

ProVest, LLC, a process server management company, has recently purchased Universal Default Services, LLC. Over the past two years, our senior management team has been wrestling with how to best scale our business without compromising what makes Universal extraordinary, said Victor G.

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Keystone Asset Management Undergoes Expansion

Keystone Asset Management Inc. (Keystone), announced today that they are expanding company-wide. In order to better service the default industry, Keystone will now assist banks, financial institutions, and other lenders with the increased numbers of non-performing assets.

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Fannie Mae Director Appointed to PHFA Board

Dr. Howard B. Slaughter, director of Fannie Mae’s Pittsburgh Community Center, has been appointed to the Board of the Pennsylvania Housing Finance Agency (PHFA). In his Fannie Mae role, Slaughter is responsible for overseeing affordable housing investments for six counties.

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