Sengdao Vongruksukdi's Blog

From changing social behavior to defining business conduct, the explosion of social technology tools through MySpace, Facebook, Twitter and LinkedIn are expected to dramatically revise organizational existence in 2011--and mortgage companies may have to speed up efforts so they are not left behin...

Wells Fargo & Co.'s chief financial officer, Howard Atkins, has resigned for personal reasons, the megabank announced late Tuesday. He was immediately succeeded by Wells' chief administrative officer, Timothy Sloan. "We understand Howard's decision to retire after having served Wells Fargo succes...

Housing values fell during the last five months of 2010, but year-over-year were unchanged, according to CoreLogic's new home price index, which includes sales of foreclosed properties. Prices rose during the first-half of 2010, and then began their descent during the rest of the year. "It was a ...

THIS JUST IN No. 1: Here's an addendum to our "Obama GSE Plan" story below: The White House will unveil three options for government involvement in the secondary mortgage market. One could mandate that no low-income aide will be provided to homeowners unless it comes through the Federal Housing A...

It's interesting to notice the divide between agents who feel they should be, or are, marketing experts and those that feel the best way to sell a house is to price it correctly. Many marketing-only mentality agents claim that agents should: Stop being lazy expecting someone else to sell the home...

People's United Bank, Bridgeport, Conn., late last week confirmed that warehouse lending veteran Paul Best has joined the publicly traded thrift as a senior vice president in its commercial division. Best will head the thrift's new warehouse lending effort. He joins People's from PNC Bank, which ...

A California appeals court has dealt mortgage servicers another setback by letting a borrower pursue a fraud claim because she was promised a loan modification, but got pushed into foreclosure. In a ruling late last month, the California Court of Appeals rejected an argument made by U.S. Bancorp ...

Bank of America late Friday said it would create a unit to handle 1.3 million distressed residential loans, many of which it inherited when it bought Countrywide Financial Corp. in August 2008. The division will be called Legacy Asset Servicing, and will serve as a repository for tens of billions...

Foreclosures on Federal Housing Administration-insured loans spiked by more than 40% in fiscal year 2010 as losses per REO averaged $76,000, according to new government figures. FHA acquired 98,350 REO properties at an acquisition cost of $11.4 billion and sold 87,700 units for $5.7 billion.  The...

Nearly half of Nevadans facing foreclosure hadn't heard of federal loan mod program. Nearly half of Nevada residents who were in foreclosure last year hadn't heard of the government's Home Affordable Modification Program (HAMP), and only 3 percent said they'd been helped by it, according to a sur...