IN THE NEWS
Texas
rank: 45
90+ Day
Delinquency Rate
Foreclosure
Rate
october 2012
2.48%
Unemployment
Rate
1.30%
6.6%
year ago
2.63%
1.66%
7.8%
percent point change
-5.7%
-21.5%
-15.4%
Top County
90+ Day
Delinquency Rate
Cass CounTy
Foreclosure
Rate
october 2012
2.05%
3.22%
year ago
2.43%
2.75%
percent point change
-15.4%
16.9%
Top Core-Based statistical area
Rio GRande CiTy-Roma, TX
90+ Day
Foreclosure
Delinquency Rate
Rate
october 2012
2.61%
2.46%
year ago
3.74%
3.00%
percent point change
-30.1%
-17.9%
note:
The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in
foreclosure. State rank is based on the October 2012 foreclosure rate. All figures are rounded to the nearest
decimal. The unemployment rate reflects preliminary October 2012 figures released by the Bureau of
Labor Statistics. All other data courtesy of Lender Processing Services.
Texas
Vericrest Financial, Inc. announced in
November 2012 it would acquire about $2.7
billion in mortgage servicing rights (MSRs).
On Tuesday, November 27, 2012, the
company stated it signed two definitive
agreements for the MSRs without revealing
the name of the companies involved. One
transaction closed November 16, 2012, with
the second on December 1, 2012.
"The acquisition of these MSRs will help
to enhance Vericrest's position as a premier
mortgage servicer with extensive national
reach," said Vericrest CEO David Schneider
in a statement. "Combined with our innovative service offerings and state-of-the-art
platforms, the increased scale we will achieve
through these transactions will support our
growth strategy and allow us to deliver bestin-class solutions to a broader client base."
Vericrest is a financial services firm that
specializes in servicing residential mortgage
loans across the country. The company has locations in Texas, Oklahoma, and California.
"Experience
is the
Difference"
Servicing
all of
Central
Texas
Wingspan Receives
Recognition for 2011
Growth
Danny Norwood
Legacy Real Estate
432-413-2764 cell
danny@dannynorwood.com
www.dannynorwood.com
KNOW THIS
The value of a typical
home in Austin, Texas
has risen 4.2 percent in
five years, the fourthbest growth rate in the
nation, according to The
Business Journals.
154
Vericrest Set to
Acquire $2.7B in
Servicing Rights
Wingspan Portfolio Advisors, based out
of North Texas, has been recognized as one
of the fastest-growing companies in the area,
the company announced in November 2012.
Wingspan was one of the top two recipients of the Dallas 100 Awards, marking it the
second fastest growing, privately held company in the Dallas-Fort Worth Metroplex.
The company was celebrated for its revenue and job growth in 2011 as it grew to meet
increasing demand for special and component
mortgage services.
The awards, which were created in 1990
by the SMU Cox School of Business Caruth
Institute for Entrepreneurship, recognize
contributions to the Dallas economy from
independent, rapidly growing companies.
Presentations were made on November 14,
2012, at the 21st Annual Dallas 100 Awards
Ceremony and Banquet.
"We are most gratified to be recognized
for our rapid rate of growth," said Steven
Horne, founder, CEO, and president of
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