News

COMPANY NEWS

August 7, 2009
BLC Servicing Will be Attending the Upcoming CMBA Loan Servicing Conference in Las Vegas

March 25, 2009
Launch of BLC Servicing Website

March 20, 2009
Scott Sawyer serving on CMBA's Loan Servicing Committee

September 1, 2008
BLC Servicing - SB1137 Compliant

INDUSTRY NEWS | September 10, 2010

Fed Holding HMDA Hearings
The Federal Reserve Board has held two hearings on the Home Mortgage Disclosure Act.

A third hearing is scheduled at the Federal Reserve Bank of Chicago during September.

Also this month, the fourth and final HMDA hearing is scheduled at the Federal Reserve Board in Washington, D.C.

Record MTA to Fall Furtherl
According on an analysis of data reported by the Federal Reserve, the MTA was 0.35 percent last month.

It's the lowest level on record for the index based on data back to 1953.

By the looks of the latest data, it appears that the MTA will not be rising any time soon.

Mortgage Market Turns Worse
Freddie Mac reported that the average 30-year fixed-rate mortgage rose 3 basis points from last week's record low.

Mortgage rates are likely to continue higher in next week's reports based on movement in the 10-year yield.

Mortgage activity tumbled this week, with the Mortgage Market Index falling by a quarter from seven days earlier.

Growing Firm Hiring LOs, Production Personnel
Foundation Financial Group announced plans to fill a total of 170 open positions this year.

Among the positions being recruited for are loan originators, sales managers and telemarketers.

Some of the positions are entry-level, while others are high-wage.

LendingTree Sues Competition
LendingTree LLC has filed a lawsuit against four of its competitors.

It says that the other Web sites, which also match borrowers with potential lenders, have been infringing on patents that LendingTree's founder filed beginning in 1998.

LendingTree says it is seeking to be compensated for "lost profits."

As the government works on unveiling details of their plan to help banks get toxic assets off of their balance sheets, we are positioning our servicing platform to be an industry leader within this defaulted servicing space.