Record Attendance Expected at Texas Mortgage Bankers Association’s 101st Annual Convention
Mortgage and Finance News: (AUSTIN, Texas) The Texas Mortgage Bankers Association (TMBA) announced today the location and dates of its 101st Annual Convention. This year's conference - "Defining Our Future" - will be held at the Hyatt Regency Hill Country Resort and Spa in San Antonio, Texas on May 21 - 23, 2017.
Bank of Southern California NA Announces Promotion of Tony DiVita to Chief Banking Officer
Mortgage and Finance News: (SAN DIEGO, Calif.) Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced that Tony DiVita has been promoted to the role of Executive Vice President, Chief Banking Officer. In his expanded role, he will continue to oversee new business origination and customer retention efforts, the Small Business Administration (SBA) Group, and bank marketing.
Mortgage Banking Expert Rob Chrisman to Address Special Session at RV UserCon 2017
Mortgage and Finance News: (SAN DIEGO, Calif.) ReverseVision, Inc., the leading provider of software and technology for the reverse mortgage industry, today announced that mortgage industry expert Rob Chrisman will address attendees of RV UserCon 2017 as a special session speaker on February 9 in San Diego.
Bank of Southern California Completes $7 Million Capital Offering and Announces New Board of Directors
Mortgage and Finance News: (SAN DIEGO, Calif.) Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced that it has completed a capital raise of $7 million through a stock purchase agreement of the Bank's common stock with Castle Creek Capital, based in Rancho Santa Fe, California.
Rate Reset Chooses AccountChek by FormFree for Automated Verification of Borrower Ability to Repay
Mortgage and Finance News: (ATLANTA, Ga.) FormFree today announced that Rate Reset, the world leader in automated loan retention and acquisition software, has selected AccountChek(TM) by FormFree as its technology provider for automated asset verification. AccountChek helps financial institutions determine in just seconds the ability of customers to pay back loans, without the hassle of collecting bank statements or other asset documents.
Local Banker Luz Gonzalez Joins Bank of Southern California, N.A.
Mortgage and Finance News: (RANCHO MIRAGE, Calif.) Bank of Southern California, N.A. (OTC Pink:BCAL / OTCMKTS:BCAL) announced today that Luz Gonzalez has joined the Company as Branch Sales Manager of its Rancho Mirage branch. Most recently, Ms. Gonzalez served the Coachella Valley community as a Deputy Sheriff for the Riverside County Sheriff's Department, following a successful 11-year career at El Paseo Bank.
Bank of Southern California, N.A. Selects nCino to Improve Workflow Process
Mortgage and Finance News: (SAN DIEGO, Calif.) Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced today that it has selected nCino's Bank Operating System to automate the Bank's lending and treasury management processes, enabling the bank to ultimately better serve its customers.
Bank of Southern California N.A. Announces $7 Million Capital Offering
Mortgage and Finance News: (SAN DIEGO, Calif.) Bank of Southern California N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced today that it has signed a stock purchase agreement for a private placement of $7 million of the Bank's common stock with Castle Creek Capital, based in Rancho Santa Fe, California. The transaction is anticipated to close in the fourth quarter, subject to regulatory approvals and other standard closing conditions.
14,000 Kids Benefit From Generous Donation from Redstone Bank
Mortgage and Finance News: (DENVER, Colo.) On August 29, 2016. Redstone Bank made a generous donation of $50,000 to the Whiz Kids Program. The Whiz Kids program is an individualized tutoring program that has over 800 volunteers who tutor less fortunate students from schools throughout the Denver Metropolitan Area.
Bank of Southern California Recognized as a Top Small Business Lender
Mortgage and Finance News: (SAN DIEGO, Calif.) Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) has been recognized as a top small business lender in San Diego County based on the volume of SBA 7(a) loans originated according to the San Diego District Office of the U.S. Small Business Administration's fiscal year-end lender rankings as of July 31, 2016.
Bank of Southern California Completes Acquisition of Opus Bank Branch
Mortgage and Finance News: (SAN DIEGO, Calif.) Bank of Southern California, N.A. (OTC Pink: BCAL) has completed the purchase of the deposits of the La Quinta branch of Opus Bank. The transaction closed on Friday, August 19, 2016. Customers of the Opus Bank La Quinta branch were consolidated into the existing La Quinta branch of Bank of Southern California. As of Monday, August 22, 2016, the former Opus Bank La Quinta customers now have access to all Bank of Southern California locations, including three Coachella Valley branches located in La Quinta, El Paseo-Palm Desert, and Rancho Mirage.
Mid America Mortgage to Purchase eNotes through Its Correspondent Channel
Mortgage and Finance News: (ADDISON, Texas) Mid America Mortgage, Inc. (Mid America) Owner and Chief Executive Officer Jeff Bode today announced it will purchase eNotes for loans closed electronically from approved sellers through its correspondent lending channel.
Bank of Southern California Provides $5 Million in Financing to OWB Real Estate Holdings, LLC
Mortgage and Finance News: (SAN DIEGO, Calif.) Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced that it has provided $5 million in financing as senior lender in part of a larger financing arrangement for OWB Real Estate Holdings, LLC. The financing was a combination of bank borrowing, and loans secured through the Federally backed New Market Tax Credit program. The financing provided funds used for the acquisition of land, improvements, and equipment of a shuttered beef slaughter and processing plant in Brawley, Calif., formerly operated by National Beef.
Evolve Bank & Trust Selects ReverseVision Exchange (RVX) Loan Origination Software
Mortgage and Finance News: (SAN DIEGO, Calif.) ReverseVision is pleased to announce that Memphis, Tennessee-based Evolve Bank & Trust (Evolve), a full-service commercial bank and mortgage lender serving customers and communities nationwide, has selected RV Exchange (RVX) reverse mortgage loan origination software (LOS).
Bank of Southern California to Acquire Opus Bank Branch
Mortgage and Finance News: (SAN DIEGO, Calif.) Bank of Southern California (OTC Pink: BCAL / OTCMKTS:BCAL) announced that it has reached a definitive agreement to acquire the deposits of the La Quinta branch of Opus Bank located at 78080 Calle Estado #101, La Quinta, pending regulatory approval. The sale is anticipated to close on or about August 19, 2016.
Wells Fargo Approves Hybrid eClosings on Pavaso’s Digital Close Platform
Mortgage and Finance News: (PLANO, Texas) Pavaso, Inc., a provider of digital process and collaboration solutions for the real estate lifecycle, announced that Wells Fargo has named Pavaso an approved vendor for "hybrid" eClosings. In a hybrid eClosing, select documents are printed and "wet signed," but much of the closing package is executed electronically. Effective immediately, Wells Fargo will accept loans closed on Pavaso's Digital Close(SM) platform using this hybrid process.
ReverseVision’s Wendy Peel Named a 2016 ‘Elite Woman in Mortgage’ by Mortgage Professional America Magazine
Mortgage and Finance News: (SAN DIEGO, Calif.) ReverseVision, Inc., a leading provider of software and technology for the reverse mortgage industry, today announced that Vice President of Sales and Marketing Wendy Peel is one of Mortgage Professional America (MPA) magazine's 2016 'Elite Women in Mortgage.'
DocMagic Announces ‘eQC’ Automated Due Diligence Solution for Lending Industry
Mortgage and Finance News: (TORRANCE, Calif.) DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced the formal launch of its fully integrated 'eQC' solution that automates due diligence for investors and correspondent lenders.
Simplifile Signs On 22 Additional Counties in Midwest, West Coast Regions
Mortgage and Finance News: (PROVO, Utah) Simplifile, a leader in electronic document and data workflow technology for lenders, settlement agents and counties, announced it added 22 additional county recording offices in the Midwest and on the West Coast to its e-recording platform. These new counties are located in Idaho, Illinois, Kansas, Michigan, Minnesota, Missouri, North Dakota, Ohio, Oregon, Washington and Wisconsin.
The Mortgage Collaborative Adds 14 New Lender Members Nationwide including Arizona and Texas
Mortgage and Finance News: (SAN DIEGO, Calif.) The Mortgage Collaborative, an independent mortgage lending cooperative, today announced the addition of 14 new lenders to their national network of originating members, according to the Collaborative's EVP of National Sales and Strategic Alliances, Rich Swerbinsky.
New Study Finds Most Companies Lack Systems and Processes to Comply with New Lease Accounting Standards
Mortgage and Finance News: (GREAT FALLS, Va.) LeaseAccelerator, the leader in Equipment Lease Management software, announced the results of a 2016 market readiness survey for the new lease accounting standards. The first research study to be completed since the Financial Accounting Standards Board (FASB) announced ASU 2016-02 (ASC 842), surveyed financial professionals about their state of readiness for the new leasing standards.
Simplifile Adds 16 County Recording Offices Across Southeast, Mid-Atlantic
Mortgage and Finance News: (PROVO, Utah) Simplifile, a leader in electronic document and data workflow technology for lenders, settlement agents and counties, announced it has installed its e-recording solution in 16 additional county recording offices across Alabama, Arkansas, Georgia, Florida, Louisiana, North Carolina and Pennsylvania.
Home-Equity Loans Facts Track seminar for mortgage lenders in Huntington Beach May 11
Mortgage and Finance News: (SAN DIEGO, Calif.) ReverseVision, Inc. is pleased to announce that it is again offering the popular 'Home-Equity Loans Facts Track' seminar for mortgage lenders interested in learning more about the home-equity conversion mortgage (HECM) loan on May 11, 2016 at the Hyatt Regency Huntington Beach, Sandpiper Room from 12:30 p.m. to 2:30 p.m.
Simplifile and Landtech Data Corporation Integration Streamlines E-Recoding Process for Settlement Service Providers
Mortgage and Finance News: (PROVO, Utah) Simplifile, the nation's largest e-recording service provider, has partnered with Landtech Data Corporation to improve recording efficiency and ease payment processing for Landtech's nationwide customer base. The integration will further advance the efficiency of the e-recording process by allowing settlement service providers to submit and pay for their e-recording documents using Simplifile without ever leaving the Landtech system.
Mid America Mortgage Hires Michael J. Lima to Oversee Whole Loan Trading Division
Mortgage and Finance News: (ADDISON, Texas) Mid America Mortgage, Inc. Owner and CEO Jeff Bode announced the firm has retained mortgage banking and capital markets executive Michael Lima as managing director of its Whole Loan Trading division. With nearly 30 years of mortgage expertise, Lima will direct Mid America's whole loan acquisition business, including its recent entry into the market for loans with TRID compliance issues.
Mortgage Technology Provider, DocMagic Wins 2016 Innovation Award for SmartCLOSE TRID Portal
Mortgage and Finance News: (TORRANCE, Calif.) DocMagic, Inc., a premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that PROGRESS in Lending presented the company with one of its annual Innovation Awards for the development and widely successful launch of its industry-leading SmartCLOSE(TM) collaborative closing portal for TRID compliance. DocMagic was one of only seven recipients to receive the honor out of numerous applicants.
Bank of Southern California N.A. adds Kt Duong and Troy Ferguson to Sales Team
Mortgage and Finance News: (SAN DIEGO, Calif.) Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), welcomes Kt Duong and Troy Ferguson, as Vice President, Business Relationship Managers to its seasoned team of bankers. Mr. Duong has been in banking and finance for 8 years, including Commercial Capital Partners, Commercewest Bank and Citigroup.
ReverseVision Exchange Loan Origination Software Now Used in 12 States by Willow Bend Mortgage
Mortgage and Finance News: (SAN DIEGO, Calif.) ReverseVision announced today that Willow Bend Mortgage, an independent mortgage lender serving the South Central United States, has selected RV Exchange (RVX) as its reverse mortgage loan origination software (LOS). A long-standing community lender in its home state of Texas, Willow Bend began expanding its reverse mortgage program in 2015 and is currently licensed to operate in 12 states.
Simplifile Q1 2016 Report Reveals Three Out of Four Transactions Eligible to be E-Recorded
Mortgage and Finance News: (PROVO, Utah) Simplifile, a leader in electronic document and data workflow technology for lenders, settlement agents and counties, today released quarterly figures summarizing the organization's activities and achievements from January through March 2016.
Altavera Mortgage Services Notes Uptick in Non-QM Activity from Originators, Aggregators and Investors
Mortgage and Finance News: (DENVER, Colo.) Altavera Mortgage Services, a premier provider of third-party residential mortgage origination services, reports a marked uptick in non-Qualified Mortgage (non-QM) inquiries in the first quarter of 2016. According to President and Founder Brian Simons, staffing requests from Altavera's clients suggest the industry is preparing for increased business in Q2 and the second half of 2016.