TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/172962
Local Edition or ig i nat ion ORIGINATION FFN Announces $200M Loan Portfolio Offering According to a release, the portfolio consists of commercial real estate and commercial and industrial (C&I) loans as well as agricultural, residential, and consumer loans. S e c on da r y M a r k e t a na ly t ic s se r v ic i ng Bids on the portfolio are due September 17. Oklahoma // First Financial Network, Inc. (FFN), announced the offering of a $200 million performing and non-performing loan portfolio on behalf of a community bank. According to a release, the portfolio consists of commercial real estate and commercial and industrial (C&I) loans as well as agricultural, residential, and consumer loans. Approximately one-third of the loans contained are performing. Due diligence on the portfolio began August 19, and bids are due September 17. In addition, FFN announced it has been appointed by a money bank center to market $35 million in performing and non-performing loans concentrated in California, New York, and New Jersey. A major portion of that portfolio contains current loans; investor due diligence began August 6, with bids due by August 29. "Over the past two quarters, there has been a sharp increase in pricing across all asset classes coupled with a need for community banks to clean up their balance sheets. We have been very busy serving this client segment in the valuation and marketing of both performing and non-performing loans," said Bliss Morris, founder and CEO of FFN. "Clearly, it's a good time to sell." Appraisal Institute Names New VP J. Scott Robinson will fill the role for the 2014 term. Illinois // The Appraisal Institute announced the election of a new VP to head the association of real estate appraisers. J. Scott Robinson, MAI, SRA, out of North Carolina will take on the role of 2014 VP for a term 34 | The M Report beginning January 1. His term will be followed by one year as president-elect, president, and immediate past president. "I am humbled and honored by this opportunity, and I promise to give everything I have to this role," Robinson said. "I'm grateful to everyone who helped me reach this point in my career." Robinson began his career in real property appraisal and consulting in 1987 at Robinson Associates, a firm in Salisbury, North Carolina, that was founded by his father. That same year, he also joined the Appraisal Institute as a candidate for SRA in 1987. He was granted SRA designation in 1991 and later received MAI designation in 1997. He has also served in all offices for the North Carolina Chapter, and starting in 1991, he became active at the regional and national levels of the association. DocuTech Hires Tech Expert as Product Manager Frank Colson is now managing the tech provider's offerings. Idaho // DocuTech Corp., a compliance and documentation technology provider headquartered in Idaho, hired Frank Colson as product manager. "Frank brings more than 18 years of experience to DocuTech, positioning him as a technology visionary necessary to lead DocuTech's continued success," said COO Scott Stucky. "His mortgage industry background in product management and technology is a unique skill set he can offer customers to keep DocuTech at the forefront of workflow innovation and customer satisfaction." Colson was previously product manager of EDM and eFolder Document Management Solutions at Ellie Mae, providing leadership on strategic product initiatives for paperless operations, eSignature, and eDisclosure services. Prior to that, he worked as a technology consultant for IP Services Group and as senior director of ad operations and technology for Sportgenic. At DocuTech, Colson is responsible for driving software development lifecycle requirements from ideas to development to market. He will also work to configure firewalls and routers, build servers, manage hosted Software as a Service (SaaS) environments, and write Structured Query Language (SQL). In addition to software development, he is responsible for managing the eDelivery Secure File Transfer Protocol (sFTP) and Loan Origination Software (LOS) Pushback features of DocuTech's flagship product, ConformX. DocMagic Recruits Investor Compliance Specialist The firm adds Lisa Rose to its compliance team. California // In California, DocMagic named Lisa Rose as its newest investor compliance specialist. Rose's background includes ensuring accurate information for mortgage programs, maintaining