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Issue link: http://digital.dsnews.com/i/112425
���We are excited to partner with KB Home to form Home Community Mortgage to support homebuyers in the largest purchase decision of their lives,��� said Nationstar Mortgage CEO Jay Bray. ���This partnership showcases our ability to deliver creative solutions to one of the nation���s premier homebuilders, and our commitment to enhancing the homebuying experience by providing accessible financing options to homebuyers.��� Kensington Vanguard Grows Presence with Dallas Office Kensington Vanguard National Land Services���a full-service national title insurance and settlement agency���expanded its presence with the opening of a Dallas, Texas, office. The new location is part of the company���s commitment to further develop its presence in Texas. Kensington Vanguard���s management cited two reasons for expanding in Texas: existing clientele activity in the state and the ���robust��� real estate market. The company also announced it has named industry veteran Jennifer Maxwell to head the new office. ���Jennifer Maxwell is an outstanding professional with deep industry experience. She and her team offer our clientele the expertise and high service levels consistent with our firm���s reputation and brand,��� said Brian Cooper, co-CEO of Kensington Vanguard. ���We are very focused on this market and have aggressive growth plans.��� Maxwell has spent 21 years in the industry at firms including LandAmerica Financial Group and Fidelity National Title. 600 mortgage-servicing professionals. The company���s servicing portfolio includes about 55,600 mortgage loans with a principal balance of $10.1 billion. The companies announced their shareholders, who are comprised of various affiliates of Lone Star Funds, agreed to the move. Lone Star Funds will continue to own the combined organization and provide capital backing. Final closing is expected to occur within 4-6 months. Until then, Caliber and Vericrest will continue to operate independently. ���Loan originations and servicing are a natural fit, and we expect the combined company will generate significant revenue opportunities to support continued growth,��� said Jim Ferriter, president of Caliber. ���We are looking forward to working with Vericrest���s talented team of professionals and to building a larger, more diverse organization that offers greater opportunities to our customers, employees, and investors.��� ���Until recently, Vericrest only offered servicing solutions to affiliates of Lone Star. Since offering our unique, proactive mortgage-servicing solutions to other investors, we have experienced significant growth,��� added David Schneider, CEO of Vericrest. ���Caliber���s innovative lending platform is a perfect complement to our servicing business and will enable us to refinance and retain loans in our loanservicing portfolio, as well as retain servicing rights on the loans Caliber originates.��� Utah rank: 37 90+ Day Delinquency Rate Foreclosure Rate december 2012 2.80% Unemployment Rate 1.58% 5.2% year ago 3.03% 2.25% 5.8% percent point change -7.4% -29.7% -10.3% Top County Garfield CoUnTy 90+ Day Delinquency Rate december 2012 2.98% Foreclosure Rate 3.08% year ago 2.82% 0.89% percent point change 5.5% 244.1% Top Core-Based Statistical area Cedar CiTy, UT 90+ Day Delinquency Rate Foreclosure Rate december 2012 3.84% 2.81% year ago 4.45% 4.28% percent point change -13.7% -34.4% 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 December 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary December 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. Vermont rank: 11 90+ Day Delinquency Rate Foreclosure Rate december 2012 1.75% Unemployment Rate 3.82% 5.1% year ago 1.76% 3.60% 5.2% percent point change -0.5% STAT INSIGHT 6.0% -1.9% Top County Orleans COunTy 90+ Day Delinquency Rate december 2012 Caliber, Vericrest to Combine Operations 2.35% Foreclosure Rate 6.05% year ago 3.59% 5.04% percent point change Caliber Funding, LLC and Vericrest Financial, Inc. are merging their operations to form a full-service residential mortgage banking organization with both loan originations and loan-servicing capabilities. Caliber is a national residential mortgage lender based in Dallas, Texas. The company employs more than 950 mortgage-lending professionals nationwide and has 65 retail branches. Vericrest is a nationwide servicer with locations in Texas, Oklahoma, and California. Vericrest employs more than 106 The annual growth Houston saw in residential prices from Q4 2011 to Q4 2012. Source: FNC -34.5% 20.1% Top Core-Based statistical area ruTland, VT 90+ Day Delinquency Rate Foreclosure Rate december 2012 2.37% 5.21% year ago 2.45% 4.65% percent point change -3.1% note: 11.9% 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 December 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary December 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services.