Bay Equity Home Loans has announced that it is now approved by Ginnie Mae, the agency expands affordable housing opportunities nationwide. In addition to Ginnie Mae, Bay Equity also has the approval of the two other federal agencies operating in the secondary lending market—Fannie Mae (FNMA) and Freddie Mac (FHLMC).Click to continue

USDA Rural Development Acting Under Secretary Doug O’Brien announced the expansion of a partnership with Ginnie Mae, one of the largest issuers of mortgage-backed securities in the nation to increase investments in rural rental housing. The United States Department of Agriculture (USDA) remains focused on carrying out its mission, despite a time of significant budget uncertainty. This announcement is one part of the Department’s efforts to strengthen the rural economy.Click to continue

Stearns Lending, Inc. announced the appointment of Hershel Malett as vice president – Internal Audit, Mortgage Operations. In this role, he will lead a team focused on development and maintenance of robust audit programs and performance of operational audits. “Hershel has spent more than 20 years in the mortgage industry accumulating broad, hand’s-on experience in disciplines that include underwriting, credit risk, quality assurance, and operational controls,” said Karen Crawford, chief legal officer at Stearns Lending.Click to continue

Residential Finance has appointed Rick Roque as vice president of business development. Roque is focused on expanding the company’s retail branches, and on growing business through third-party affiliates.  His new role also includes enhancing business relationships with strategic partners in the mortgage and housing industries.Click to continue

Quandis Inc. announced that Bankers Asset Management (BAM) is successfully utilizing its valuation system to streamline the company’s entire broker price opinion (BPO) process within BAM’s valuations division.  Quandis’ solution ensures that agents are of high quality, BPO orders are submitted in a timely manner, and all BPO files are complete and accurate.Click to continue

Stearns Lending Inc. has announced the appointment of John Krantz as the company’s senior vice president–controller, where he will be responsible for management and financial reporting for the combined retail, wholesale and correspondent production channels.Click to continue

VRM Mortgage Services announced the appointment of Ed Hunter as vice president of business development. Hunter will lead and direct VRM’s go-to-market strategy and execution for new business development. His responsibilities will include creating and managing the company’s strategic business development plans, identifying industry trends and helping to oversee the solution development and sale of new business lines and services.Click to continue

Greystone announced that it has been approved as a National Senior Housing Seller/Servicer by Freddie Mac to originate and service multifamily seniors housing loans nationwide. As a Seniors Housing Seller/Servicer, Greystone is one of a select number of firms approved to sell and service Freddie Mac loans for independent living, assisted living, memory care and rental continuing care properties located throughout the United States. The designation will allow Greystone to better meet the financing needs of the rapidly growing senior sector.Click to continue

FirstClose has hired Chip Caldwell to manage the company’s Southeastern U.S. territory. The addition of Caldwell helps satisfy a growing demand for FirstClose’s end-to-end settlement services offering and supporting technology solutions for use by mortgage lenders. Caldwell is a Certified Mortgage Banker (CMB) who holds extensive experience in the mortgage industry operating in an executive-level sales capacity.Click to continue

Indecomm Global Services has acquired the assets of Mortgage U Inc. The acquisition will allow Indecomm to expand its learning and mortgage training offerings as well as its total compliance support and consulting. Indecomm’s new mortgage learning services will be branded as Indecomm-Mortgage U. “The acquisition of Mortgage U completes a process begun over two years ago when Indecomm and Mortgage U signed an alliance agreement,” said Rajan Nair, president, Financial Services, Indecomm Global Services.Click to continue