Lots of Lender Updates; MERS Leadership Change; Wells on Originator Compensation; Job Openings; Bank of America Legal Fees

Hot news from AZ Home Help:

Posted To: Pipeline Press

Bank of America spent $1.5 billion on legal fees in the last three months of 2010. Sometimes we have trouble imagining big numbers. In the US, our median household pretax income is about $50,000. If a household were to work for 300,000 years, it would earn $1.5 billion dollars. (300,000 years ago was about the same time that mortgage bankers began walking erect, and using burnt sticks to write HMDA information on cave walls.) There are indeed jobs out there to be had . Merscorp Inc., the parent company of Mortgage Electronic Registration Systems ( MERS ) announced that R.K. Arnold has retired as CEO & president, and Paul Bognanno will take the job on an interim basis. He will lead the search process for a permanent replacement in MERS' Reston, VA office. MERS, as we know, has in its electronic...(read more)

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Source: www.mortgagenewsdaily.com

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