Banking News - Page 5

SAN DIEGO, Calif., Sept. 27, 2016 (SEND2PRESS NEWSWIRE) — Bank of Southern California N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced today that it has signed a stock purchase agreement for a private placement of $7 million of the Bank’s common stock with Castle Creek Capital, based in Rancho Santa Fe, California. The transaction is anticipated to close in the fourth quarter, subject to regulatory approvals and other standard closing conditions.

CENTENNIAL, Colo., Aug. 31, 2016 (SEND2PRESS NEWSWIRE) — On August 29, 2016. Redstone Bank made a generous donation of $50,000 to the Whiz Kids Program. The Whiz Kids program is an individualized tutoring program that has over 800 volunteers who tutor less fortunate students from schools throughout the Denver Metropolitan Area.

SAN DIEGO, Calif., Aug. 29, 2016 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) has been recognized as a top small business lender in San Diego County based on the volume of SBA 7(a) loans originated according to the San Diego District Office of the U.S. Small Business Administration’s fiscal year-end lender rankings as of July 31, 2016.

SAN DIEGO, Calif., Aug. 26, 2016 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL) has completed the purchase of the deposits of the La Quinta branch of Opus Bank. The transaction closed on Friday, August 19, 2016. Customers of the Opus Bank La Quinta branch were consolidated into the existing La Quinta branch of Bank of Southern California. As of Monday, August 22, 2016, the former Opus Bank La Quinta customers now have access to all Bank of Southern California locations, including three Coachella Valley branches located in La Quinta, El Paseo-Palm Desert, and Rancho Mirage.

ADDISON, Texas, Aug. 25, 2016 (SEND2PRESS NEWSWIRE) — Mid America Mortgage, Inc. (Mid America) Owner and Chief Executive Officer Jeff Bode today announced it will purchase eNotes for loans closed electronically from approved sellers through its correspondent lending channel.

SAN DIEGO, Calif., July 20, 2016 (SEND2PRESS NEWSWIRE) — Bank of Southern California N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced that it has provided $5 million in financing as senior lender in part of a larger financing arrangement for OWB Real Estate Holdings, LLC. The financing was a combination of bank borrowing, and loans secured through the Federally backed New Market Tax Credit program. The financing provided funds used for the acquisition of land, improvements, and equipment of a shuttered beef slaughter and processing plant in Brawley, Calif., formerly operated by National Beef.

SAN DIEGO, Calif., July 13, 2016 (SEND2PRESS NEWSWIRE) — ReverseVision is pleased to announce that Memphis, Tennessee-based Evolve Bank & Trust (Evolve), a full-service commercial bank and mortgage lender serving customers and communities nationwide, has selected RV Exchange (RVX) reverse mortgage loan origination software (LOS).

SAN DIEGO, Calif., June 1, 2016 (SEND2PRESS NEWSWIRE) — Bank of Southern California (OTC Pink: BCAL / OTCMKTS:BCAL) announced that it has reached a definitive agreement to acquire the deposits of the La Quinta branch of Opus Bank located at 78080 Calle Estado #101, La Quinta, pending regulatory approval. The sale is anticipated to close on or about August 19, 2016.

PLANO, Texas, May 26, 2016 (SEND2PRESS NEWSWIRE) — Pavaso, Inc. (Pavaso), a provider of digital process and collaboration solutions for the real estate lifecycle, announced that Wells Fargo has named Pavaso an approved vendor for “hybrid” eClosings. In a hybrid eClosing, select documents are printed and “wet signed,” but much of the closing package is executed electronically. Effective immediately, Wells Fargo will accept loans closed on Pavaso’s Digital Close(SM) platform using this hybrid process.

SAN DIEGO, Calif., May 12, 2016 (SEND2PRESS NEWSWIRE) — ReverseVision, the leading provider of software and technology for the reverse mortgage industry, today announced that Vice President of Sales and Marketing Wendy Peel is one of Mortgage Professional America (MPA) magazine’s 2016 ‘Elite Women in Mortgage.’

TORRANCE, Calif., May 12, 2016 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced the formal launch of its fully integrated ‘eQC’ solution that automates due diligence for investors and correspondent lenders.

PROVO, Utah, May 12, 2016 (SEND2PRESS NEWSWIRE) — Simplifile, a leader in electronic document and data workflow technology for lenders, settlement agents and counties, announced it added 22 additional county recording offices in the Midwest and on the West Coast to its e-recording platform. These new counties are located in Idaho, Illinois, Kansas, Michigan, Minnesota, Missouri, North Dakota, Ohio, Oregon, Washington and Wisconsin.

SAN DIEGO, Calif., May 11, 2016 (SEND2PRESS NEWSWIRE) — The Mortgage Collaborative, an independent mortgage lending cooperative, today announced the addition of 14 new lenders to their national network of originating members, according to the Collaborative’s EVP of National Sales and Strategic Alliances, Rich Swerbinsky.

NEW YORK, N.Y., May 11, 2016 (SEND2PRESS NEWSWIRE) — Jonathan B. Roberts, Chief Compliance Officer and Senior Vice President at KFWA (Klingenstein Fields Wealth Advisors), a leading wealth management firm with approximately $3 billion in assets under management, welcomed attendees with insightful opening remarks at the Investment Adviser Association’s (IAA) 2016 Annual Leadership Conference.

GREAT FALLS, Va., May 11, 2016 (SEND2PRESS NEWSWIRE) — LeaseAccelerator, the leader in Equipment Lease Management software, announced the results of a market readiness survey for the new lease accounting standards. The first research study to be completed since the Financial Accounting Standards Board (FASB) announced ASU 2016-02 (ASC 842), surveyed financial professionals about their state of readiness for the new leasing standards.

PROVO, Utah, May 5, 2016 (SEND2PRESS NEWSWIRE) — Simplifile, a leader in electronic document and data workflow technology for lenders, settlement agents and counties, announced it has installed its e-recording solution in 16 additional county recording offices across Alabama, Arkansas, Georgia, Florida, Louisiana, North Carolina and Pennsylvania.

SAN DIEGO, Calif., May 4, 2016 (SEND2PRESS NEWSWIRE) — ReverseVision, Inc. (ReverseVision) is pleased to announce that it is again offering the popular ‘Home-Equity Loans Facts Track’ seminar for mortgage lenders interested in learning more about the home-equity conversion mortgage (HECM) loan on May 11 at the Hyatt Regency Huntington Beach, Sandpiper Room from 12:30 p.m. to 2:30 p.m.

PROVO, Utah, May 2, 2016 (SEND2PRESS NEWSWIRE) — Simplifile, the nation’s largest e-recording service provider, has partnered with Landtech Data Corporation (Landtech) to improve recording efficiency and ease payment processing for Landtech’s nationwide customer base. The integration will further advance the efficiency of the e-recording process by allowing settlement service providers to submit and pay for their e-recording documents using Simplifile without ever leaving the Landtech system.

ADDISON, Texas, May 2, 2016 (SEND2PRESS NEWSWIRE) — Mid America Mortgage, Inc. (Mid America) Owner and Chief Executive Officer Jeff Bode announced the firm has retained mortgage banking and capital markets executive Michael Lima as managing director of its Whole Loan Trading division. With nearly 30 years of mortgage expertise, Lima will direct Mid America’s whole loan acquisition business, including its recent entry into the market for loans with TRID compliance issues.

TORRANCE, Calif., April 27, 2016 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that PROGRESS in Lending presented the company with one of its annual Innovation Awards for the development and widely successful launch of its industry-leading SmartCLOSE(TM) collaborative closing portal for TRID compliance. DocMagic was one of only seven recipients to receive the honor out of numerous applicants.

SAN DIEGO, Calif., April 26, 2016 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL), welcomes Kt Duong and Troy Ferguson, as Vice President, Business Relationship Managers to its seasoned team of bankers. Mr. Duong has been in banking and finance for 8 years, including Commercial Capital Partners, Commercewest Bank and Citigroup. He graduated from San Diego State University with a Bachelor of Arts in Economics and a Bachelor of Science in Finance.

SAN DIEGO, Calif., April 20, 2016 (SEND2PRESS NEWSWIRE) — ReverseVision announced today that Willow Bend Mortgage (Willow Bend), an independent mortgage lender serving the South Central United States, has selected RV Exchange (RVX) as its reverse mortgage loan origination software (LOS). A long-standing community lender in its home state of Texas, Willow Bend began expanding its reverse mortgage program in 2015 and is currently licensed to operate in 12 states.

PROVO, Utah, April 20, 2016 (SEND2PRESS NEWSWIRE) — Simplifile, a leader in electronic document and data workflow technology for lenders, settlement agents and counties, today released quarterly figures summarizing the organization’s activities and achievements from January through March 2016.

DENVER, Colo., April 20, 2016 (SEND2PRESS NEWSWIRE) — Altavera Mortgage Services (Altavera), the premier provider of third-party residential mortgage origination services, reports a marked uptick in non-Qualified Mortgage (non-QM) inquiries in the first quarter of 2016. According to President and Founder Brian Simons, staffing requests from Altavera’s clients suggest the industry is preparing for increased business in Q2 and the second half of 2016.

WEST PALM BEACH, Fla., April 19, 2016 (SEND2PRESS NEWSWIRE) — OpenClose(R), an enterprise-class, multi-channel, end-to-end loan origination system (LOS) provider, announced that industry veteran Michael Falce has been hired as a vice president, enterprise account executive. In this role, he will work with lending entities of various types and sizes to utilize OpenClose’s LenderAssist(TM) LOS and additional software solutions.

SALT LAKE CITY, Utah, April 18, 2016 (SEND2PRESS NEWSWIRE) — Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it achieved 11 single-day company records for total document orders in 2015. Overall document fulfillment increased 24 percent from 2014 to 2015, with initial disclosures and closing documents seeing similar growth (26 percent and 22 percent, respectively). IDS also saw increased adoption of its eSign functionality in 2015, with 45 percent more documents electronically signed as compared to 2014.

GREAT FALLS, Va., April 18, 2016 (SEND2PRESS NEWSWIRE) — LeaseAccelerator, the leader in Equipment Lease Management software, today announced a new release featuring updated functionality to support the new lease accounting standards introduced by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). With support for FASB ASC 842 and IFRS 16, LeaseAccelerator customers can now confidently comply with the financial reporting requirements of the U.S. Securities and Exchange Commission (SEC) and other international regulators in time for the 2019 implementation deadlines.

TORRANCE, Calif., April 14, 2016 (SEND2PRESS NEWSWIRE) — DocMagic, Inc. the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced that it was named to National Mortgage Professional magazine’s annual ‘Top 100 Mortgage Employers’ list for 2016.

OKLAHOMA CITY, Okla., April 12, 2016 (SEND2PRESS NEWSWIRE) — American Fidelity recently learned of an incident that involves personal information of some of our Customers. The information did not include Social Security numbers.

SAN DIEGO, Calif., April 5, 2016 (SEND2PRESS NEWSWIRE) — Jeff Birdsell, CMB and vice president of professional services for ReverseVision, Inc., today was honored with Mortgage Banking magazine’s Tech All-Star award. Mortgage Bankers Association (MBA) Chief Economist Mike Fratantoni and Mortgage Banking Editor-in-Chief Janet Hewitt presented Birdsell with the award during the MBA’s National Technology in Mortgage Banking Conference and Expo 2016 in Los Angeles.

ALISO VIEJO, Calif., April 5, 2016 (SEND2PRESS NEWSWIRE) — Platinum Data Solutions, a provider of valuation data and analytics solutions, has launched RealView(R) QB (Quality Bridge), the industry’s only appraisal quality technology that allows users to authorize access and share information with third parties, including lenders, AMCs, appraisers and investors.

PROVO, Utah, April 4, 2016 (SEND2PRESS NEWSWIRE) — Simplifile, a provider of collaborative technology for lenders, settlement agents and counties, announced it was one of seven recipients of the 2016 Innovations Award from mortgage technology advocacy group PROGRESS in Lending. The company was honored for its Collaboration and Post Closing solutions during a ceremony in Los Angeles on Sunday, April 3 in conjunction with the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference and Expo.

LOS ANGELES, Calif., April 4, 2016 (SEND2PRESS NEWSWIRE) — Pavaso, the industry leader in eClosing and Consumer Management technology solutions, announced it has recorded its 2,000th live transaction on the Digital Close platform. In addition, more than 6,500 user accounts have been created in the platform, spanning from mortgage lenders to title/settlement agents to Realtors and consumers. The announcement was made in conjunction with the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference and Expo, of which Pavaso is a diamond sponsor.

WEST PALM BEACH, Fla., March 31, 2016 (SEND2PRESS NEWSWIRE) — OpenClose(R), an enterprise-class, multi-channel, end-to-end loan origination system (LOS) provider, announced that HousingWire has named the company to its 2016 HW TECH100(TM) list for the third year. The list recognizes the most innovative technology firms in the U.S. housing economy.

SAN DIEGO, Calif., March 30, 2016 (SEND2PRESS NEWSWIRE) — ReverseVision announced today that NOVA(R) Home Loans (NOVA), a Tucson, Arizona-based mortgage lender serving the Southwestern United States, has selected RV Exchange (RVX) as its reverse mortgage loan origination software (LOS). NOVA has originated reverse mortgages as a correspondent lender since 2014.

TORRANCE, Calif., March 30, 2016 (SEND2PRESS NEWSWIRE) — DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today the formal launch of its fully integrated eClosing solution that electronically transforms the entire mortgage process from initial eDisclosure to final eClosing through investor eDelivery.

ATLANTA, Ga., March 29, 2016 (SEND2PRESS NEWSWIRE) — Reverse mortgage expert John Button, president and CEO of San Diego, California-based software provider ReverseVision, is available for interviews in Atlanta on Tuesday, April 12, and Wednesday, April 13, 2016.

LANSDALE, Pa., March 29, 2016 (SEND2PRESS NEWSWIRE) — Global DMS, a leading provider of web-based compliant valuation management software, announced that CMG Financial (CMG), one of the nation’s leading lenders, has streamlined the management of its appraisal process from start to finish using Global DMS’ eTrac platform.

SALT LAKE CITY, Utah, March 24, 2016 (SEND2PRESS NEWSWIRE) — Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it was included in HousingWire magazine’s 2016 HW TECH100(TM) list. The company was recognized for its forthcoming eClosing integration with collaborative real estate technology provider and fellow TECH100 winner Pavaso, as well as its recent acquisition by automotive dealership software provider Reynolds and Reynolds.

ALISO VIEJO, Calif., March 22, 2016 (SEND2PRESS NEWSWIRE) — Platinum Data Solutions, a provider of valuation data and analytics solutions, has announced that Craig Zielazny, the company’s senior vice president of valuation analytics, has been named to the Board of Advisors for Springfield, Ohio-based Wittenberg University’s new Master of Science in Analytics program. The Board of Advisors is charged with collaborating to create the department’s curricula and courses, and could include guest lecturing. The inaugural semester for Wittenberg University’s Master of Science in Analytics program begins in August 2016.