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McCalla Raymer to Buy Assets from Prommis Atlanta-based McCalla Raymer, a provider of legal services to the mortgage banking industry, reached an agreement with Prommis Holdings Inc. to purchase some of the assets that currently sustain the non-legal support functions of the firm. Prommis filed for Chapter 11 bankruptcy protection on March 18. According to a release from McCalla Raymer, the services agreement from Prommis to provide support to the law firm in Georgia was not included in the bankruptcy filing and is not part of the bankruptcy estate. The firm added there are certain physical assets it will be purchasing from the bankruptcy estate, but said additional details could not be disclosed. The agreement also means many former Prommis employees will transition to McCalla Raymer, but an exact number of employees was not included in the announcement and could not be provided. "Our immediate concern upon learning of Prommis' decision to file for bankruptcy protection was to safeguard our clients from any disruption in service," said McCalla Raymer managing partner Marty Stone. Stone added, "[W]e are confident that the understanding reached today with Prommis will assure a seamless transition of support functions from Prommis to McCalla Raymer for our clients." Stone also gave credit to Prommis' CEO Charlie Piper, stating the ability to reach an agreement with Prommis within four days of learning of the bankruptcy filing was largely due to Piper's leadership. "We have always enjoyed a close working relationship with Prommis, and were disappointed to learn they would be winding down their operations," he added. McCalla Raymer's specialty in legal services includes foreclosure, bankruptcy, closing and eviction, litigation, and commercial transactions throughout Georgia, Florida, and Alabama. STAT INSIGHT IN THE NEWS Hawaii rank: 4 90+ Day Delinquency Rate Foreclosure Rate February 2013 2.3% Unemployment Rate 6.0% 5.2% year ago 2.6% 6.4% 6.2% year-over-year change -9.7% -5.5% -16.1% Top County Hawaii CounTy 90+ Day Delinquency Rate Foreclosure Rate February 2013 2.9% 10.9% year ago 3.2% 11.5% year-over-year change -10.2% -5.3% Top Core-Based Statistical area Hilo, Hi 90+ Day Delinquency Rate Foreclosure Rate February 2013 2.9% 10.9% year ago 3.2% 11.5% year-over-year change -10.2% -5.3% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary February 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. Idaho rank: 6 Foreclosure Rate February 2013 1.8% In 2006, the real estate bubble burst and overnight, buyers disappeared. Now, seven years later and there are plenty of buyers but it's tough to find homes for sale in Boise, Idaho. Locals say it's because Californians are moving in and snatching up inventory. Some even warn housing activity in Boise has the makings of another real estate bubble. In 2011, over 12 thousand people moved in to Treasure Valley, according to the Idaho Transportation Department, and that number increased 20 percent to 14.5 thousand in 2012. Surprisingly, one in every five new residents in Boise is from California and according to Trey Langford of Build Idaho, many of them are laying down cash for their new home. "The Boise, Idaho, real estate market seems to be in a bubble," Langford said. "Many agents are frustrated that they cannot find prospective homebuyers property to view and when they do find something there are multiple bids quickly." Illinois rank: 27 90+ Day Delinquency Rate Boise Sees an Influx of Californians Unemployment Rate 2.5% 6.2% 90+ Day Delinquency Rate 2.9% 2.1% 2.8% 7.5% 3.1% 7.1% -17.3% -7.0% -23.7% Top County 4.4% Logan CounTy 90+ Day Delinquency Rate 3.3% 6.2% 4.0% -21.7% Top Core-Based Statistical Area 90+ Day Delinquency Rate Foreclosure Rate -17.4% 90+ Day Delinquency Rate 90 LInCoLn, IL Foreclosure Rate February 2013 3.8% 3.3% 8.6% year ago 3.2% 4.0% year-over-year change 15.2% -32.6% Top Core-Based Statistical area February 2013 1.8% 12.8% year-over-year change year ago Source: Prudential Georgia Realty 8.6% year ago year-over-year change BurLey, ID Foreclosure Rate February 2013 4.9% -10.8% 6.7% Top County Foreclosure Rate year ago 5.0% 8.9% year-over-year change -11.7% LInCoLn CounTy 90+ Day Delinquency Rate February 2013 9.5% year ago year-over-year change -15.3% Unemployment Rate 5.4% year ago 2.1% Annual decline in housing inventory in the Greater Metro Atlanta area in April. Foreclosure Rate February 2013 12.8% year-over-year change 17.5% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary February 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. -17.4% -32.6% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary February 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics.

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