Lynn Effinger joins RIO Genesis --

Industry veteran and frequent HousingWire contributor Lynn Effinger has joined the management team at RIO Genesis Software Solutions as the company’s new senior vice president of institutional services.

Freddie Mac: Homeowner demand for home equity loans doubles --

“While the share of borrowers that cashed-out some equity has increased considerably over the past year, the refinance volume has also fallen sharply,” said Frank Nothaft, Freddie Mac vice president and chief economist.

Ellie Mae’s earnings overcome mortgage industry declines --

“Revenue grew 30% over last year’s third quarter to a record $ 42.8 million, despite a 27% decline in industry mortgage origination volume, and our active user base crossed the 100,000 mark for the first time,” said Sig Anderman, CEO of Ellie Mae.

How much offshore staff do the top mortgage servicers use? --

Several of the country’s largest mortgage servicers already have as much as a third of their mortgage servicing staff offshore. A new report from Fitch Ratings details the rise of offshoring and what it means for the future of mortgage servicing.

Citi 3Q earnings revised down --

Citigroup lowered its third-quarter net income due to a $ 600 million increase in legal accruals.

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