CA Finance

SAN DIEGO, Calif. /California Newswire/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, is pleased to announce the hiring of two seasoned banking and lending professionals to further support the Bank's expansion in Southern California.

SHERMAN OAKS, Calif. /California Newswire/ -- Matic, a digital insurance agency whose technology enables borrowers to purchase homeowner's insurance during the mortgage transaction, today announced the availability of its one-click "get quote" button within MortgageHippo, a cloud-based digital mortgage platform that guides consumers through a modern, lender-branded borrowing experience.

SAN DIEGO, Calif. /California Newswire/ -- Bank of Southern California, N.A. (OTC Pink:BCAL / OTCMKTS:BCAL) today announced the completion of a capital raise of approximately $26 million through the issuance of common stock in a private placement to institutional and accredited individual investors at a price of $14.75 per share.

TORRANCE, Calif. /California Newswire/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that Deutsche Bank has successfully implemented and is actively utilizing its proprietary eVault technology.

IRVINE, Calif. /California Newswire/ -- Cloudvirga(TM), a leading provider of digital mortgage point-of-sale (POS) software whose enterprise technology is powered by the intelligent Mortgage Platform(R), today announced a major update to the Cloudvirga Enterprise POS. New features designed to improve lender speed, compliance and productivity will make the platform's 4.0 release the most robust POS solution on the market.

LOS ANGELES, Calif. /California Newswire/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that two employees from the MQMR family of companies have been selected to participate in executive leadership development programs sponsored by the national Mortgage Bankers Association (MBA) and the California Mortgage Bankers Association.

SAN DIEGO, Calif. /California Newswire/ -- Bank of Southern California, N.A. ( OTC Pink: BCAL / OTCMKTS:BCAL ), a community business bank headquartered in San Diego, Calif., announces the addition of two tenured Business Development Officers to support the company's continued expansion into the Southern California region.

SAN DIEGO, Calif. /California Newswire/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced it was awarded two top small business lending partner awards in the medium sized bank category by the San Diego District Office of the U.S. Small Business Administration based on the largest quantity and dollar volume of SBA 7(a) loans originated. The rankings reflect the SBA's fiscal year-end results as of September 30, 2017. These accolades follow the bank's recognition by the SBA as the top performing small business lending partner for medium sized banks in 2016.

LOS ANGELES, Calif. /California Newswire/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that 2017 was a banner year for the company, marked by the launch of two new auditing programs and the addition of senior-level staff members.

SHERMAN OAKS, Calif. /California Newswire/ -- Matic, a digital insurance agency whose technology enables borrowers to purchase homeowner's insurance during the mortgage transaction, today announced a wide-ranging integration with RoundPoint Mortgage Servicing Corporation (RoundPoint), a mortgage loan originator and one of the nation's largest non-bank mortgage servicing companies. The integration will make Matic's one-click "get quote" button available to both customers and employees of RoundPoint.

SAN DIEGO, Calif. /California Newswire/ -- Bank of Southern California, N.A., San Diego, Calif. (OTC Pink: BCAL / OTCMKTS:BCAL) and Americas United Bank, Glendale, Calif. (OTC Pink: AUNB), today announced the signing of a definitive agreement and plan of merger (the "Agreement") whereby Americas United Bank will merge with and into Bank of Southern California. The merger is subject to customary closing conditions, including the receipt of all regulatory approvals and the approval of the shareholders of AUB and BCAL, and is expected to close in the third quarter of 2018.

LOS ANGELES, Calif. /California Newswire/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, announced it has hired Mitchell Nomura as internal audit manager. In this role, Nomura will apply his more than 30 years of experience overseeing compliance and risk management departments at bank and non-bank lenders to leading MQMR's team of expert internal auditors as they identify compliance and operational risks for mortgage lender clients.

SAN DIEGO, Calif. /California Newswire/ -- Global DMS, a leading provider of cloud-based valuation management software, announced that it launched EVO-Commercial(TM) (EVO-C) at the MBA's CREF/Multifamily Housing Convention & Expo being held in San Diego from February 11 - 14. The new platform is 100 percent configurable, fully customizable, quick and easy to implement, eliminates numerous steps in the workflow process, lowers system maintenance costs and empowers end-users as well as management teams, among many other efficiency gains.

SAN DIEGO, Calif. /California Newswire/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced quarterly earnings of $1,134,397 for the fourth quarter of 2017, compared to $1,088,043 for the third quarter of 2017 and $902,476 for the fourth quarter of 2016. For the year, net earnings were $3,964,692 in 2017, a 32% increase compared to $3,009,251 for 2016. Results for the fourth quarter and year ended December 2017 include a $200,000 increase in income tax expense due to recent Tax Reform legislation.

LOS ANGELES, Calif. /California Newswire/ -- Subsequent QC, LLC (SQC) President Michael Steer today advised lenders to take steps to protect their Mortgage Servicing Rights (MSR) assets ahead of an anticipated increase in total mortgage servicing volume. According to the Mortgage Bankers Association, outstanding mortgage debt is expected to reach $10.4 trillion by the end of 2018, compared to $10 trillion in 2017 and $9.7 trillion in 2016.

TORRANCE, Calif. /California Newswire/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it has processed more than 300 million mortgage-related electronic signatures.

SACRAMENTO, Calif. /California Newswire/ -- With the recently approved Republican tax giveaway largely benefiting billionaires, Calif. Assemblymember Kevin McCarty (D – Sacramento) and Assemblymember Phil Ting (D – San Francisco) this week introduced ACA 22, which will redirect half of the federal corporate tax cut to support middle class families in California.

SAN DIEGO, Calif. /California Newswire/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS: BCAL), announced that Steve Pollett has joined the company as SVP, SBA and Commercial Real Estate Lending Group Manager. With more than 30 years' experience in SBA and Commercial Real Estate lending, Pollett will be responsible for leading a team to provide financing to small and medium-sized businesses throughout the Southern California region. Prior to joining Bank of Southern California, Pollett was Senior Vice President and Group Manager of Commercial Lending with Plaza Bank.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, today announced the addition of forecasting and analytics firm iEmergent to its Preferred Partner network. iEmergent offers TMC members market-based forecasts that can drill down into communities, making the intelligence relevant to both high-level strategic issues and specific market challenges.

SAN DIEGO, Calif. /California Newswire/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has appointed Kathy Gonzales as Senior Vice President, Director of Branch Banking. She will be responsible for supporting the Bank's commitment to the customer experience by deepening customer relationships, and identifying opportunities to increase the bank's market share.

LOS ANGELES, Calif. /California Newswire/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that its Internal Audit services offering meets or exceeds the requirements for Fannie Mae seller/servicers to be in compliance with the December 19, 2017 Fannie Mae Selling Guide Announcement SEL-2017-10 update.

SHERMAN OAKS, Calif. /California Newswire/ -- Integrating homeowner's insurance into the mortgage origination process is a relatively new idea - and one Matic CEO Aaron Schiff anticipates will gain traction in 2018. His firm expects small and mid-sized mortgage operations will follow the lead of several marquee lenders that added homeowner's insurance to their origination workflows last year.

IRVINE, Calif. /California Newswire/ -- Cloudvirga(TM), developer of intelligent mortgage point-of-sale (POS) platforms, has appointed Sean McEvoy as its chief customer officer. As a member of the senior leadership team, McEvoy will be responsible for the firm's customer leadership, implementation and support functions. He has an extensive background in building world-class customer success organizations at FileNET, IBM, Quest and Dell. He will report to Cloudvirga CEO Michael Schreck.

SAN DIEGO, Calif. /California Newswire/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the opening of a production office in Orange County in the city of Orange, Calif. In addition, the bank said it is actively looking to expand into other Southern California markets, as the company continues to grow the banks franchise throughout the Southern California region.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, today announced the addition of FullCircle Placements to its Preferred Partner network. FullCircle will be the first mortgage-centric recruiting and placement service provider within TMC's network.

IRVINE, Calif. /California Newswire/ -- Cloudvirga(TM), developer of intelligent mortgage point-of-sale (POS) platforms, has hired Jim Portner as chief product officer. Portner will report to Cloudvirga CEO Michael Schreck and will oversee product strategy, development and marketing for the company's digital mortgage automation platforms.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, today announced the addition of United Capital Markets, Inc. (UCM), the mortgage industry's leading outsource provider of dynamic MSR hedging. UCM will provide TMC Lender Members strategic advice to bank-owned and private mortgage companies focusing on MSR investment strategies, balance sheet optimization and the capital stack.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, today announced the addition of FundingShield to its Preferred Partner network. FundingShield offers TMC members a pair of loan level verification services to protect lenders by assuring closing funds go to verified bank accounts belonging to licensed and authorized parties. FundingShield provides actionable intelligence to lenders while other services may provide data that you have to interpret.

TORRANCE, Calif. /California Newswire/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that it has opened a 12,000 square foot print fulfillment center minutes from its Torrance, California headquarters. DocMagic added the high tech "supercenter" to support lenders' growing need for secure, compliant paper documents as the mortgage industry transitions to a 100 percent digital mortgage process.

TORRANCE, Calif. /California Newswire/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that Jonathan Kearns has been appointed to the Mortgage Industry Standards Maintenance Organization (MISMO) Residential Standards Governance Committee.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, today announced the addition of Loan Vision, a mortgage industry-specific financial management and accounting software provider, to its preferred partner network, giving its Lender Members access to the industry's premier accounting software.

SAN DIEGO, Calif. /California Newswire/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced quarterly earnings of $1,088,043 for the third quarter of 2017, compared to $1,032,230 for the second quarter of 2017 and $642,186 for the third quarter of 2016. For the first nine months of 2017, net earnings were $2,830,295, compared to $2,106,775 for the first nine months of 2016.

SAN DIEGO, Calif. /California Newswire/ -- Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that it will be holding a complimentary educational webinar discussing many important changes to the Financial Industry Regulatory Authority (FINRA) Mark to Market Rule. The webinar, hosted by the Community Mortgage Lenders of America (CMLA), will guide lenders through all of the mandated rule changes in advance of the required implementation date of June 25, 2018.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, announced a new partnership with reverse mortgage lender FirstBank Mortgage. The new relationship with FirstBank Mortgage's Senior Lending Division, adds the first lender specializing in reverse mortgage lending to The Mortgage Collaborative's preferred partner network.

SHERMAN OAKS, Calif. /California Newswire/ -- Matic Insurance Services (Matic), a digital insurance agency whose technology enables borrowers to purchase homeowner's insurance during the mortgage transaction, announced today it has raised $7 million in a Series A funding round. Investors participating in the round include Mr. Cooper, one of the nation's top 20 mortgage originators and the fourth-largest home loan servicer in the country.

SAN DIEGO, Calif. /California Newswire/ -- Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced the release of new online functionality that automates the process of product selection and delivery of loan commitments directly to Fannie Mae for MCT's lender clients. The new solution, which was developed as part of MCT's ongoing technology collaboration with Fannie Mae, is called Rapid Commit(TM) and resides within MCT's award-winning secondary marketing platform, MCTlive!(TM).

WESTLAKE VILLAGE, Calif. /California Newswire/ -- Residual Growth Expert, a leading ISO business advisory firm, today announced that they are naming November as Say No to Attrition month. Attrition is a major problem for many banks, ISOs and credit card processing companies because rates traditionally go up during the holiday season. By turning their efforts toward retaining their current list of clients during this time of the year, ISOs and other credit card processing companies can combat this trend and enjoy greater financial stability.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, today announced that they have reached another milestone, adding 20 new lender members since their August summer conference in Nashville. This brings the Collaborative's membership total to 120 and an annual aggregate origination volume of $210 Billion.

SAN DIEGO, Calif. /California Newswire/ -- Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that it has gained unprecedented industry-wide technology adoption among the investor aggregator community. MCT officially unveiled the Bulk Acquisition Manager(TM) (BAM) within its capital markets software platform, MCTlive!, in July of this year.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, recently announced details surrounding the continued expansion of their Collaboration Lab initiative. Launched in the spring of 2017, TMC's Collaboration Labs offer their Lender Members the opportunity to participate in day and a half long "deep-dive" networking sessions with peers f similar size and scope.

SHERMAN OAKS, Calif. /California Newswire/ -- Matic Insurance Services, a digital insurance agency that enables borrowers to purchase homeowner's insurance during the home-buying transaction, today announced a new partnership with LendingQB, a provider of "lean lending" loan origination technology. Matic announced the news as part of a live demonstration at San Francisco's Digital Mortgage Conference.

PASADENA, Calif. /California Newswire/ -- Lender Price, the emerging leader in digital mortgage lending technology, announced today that it has named veteran mortgage industry executive Jerry Halbrook as its CEO and has opened a fresh round of equity funding to fuel its growth trajectory.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative (TMC), the nation's only independent mortgage cooperative, announced a new partnership with east-coast based CPA and advisory firm, ACS Accounting. The new relationship with ACS, adds another best-in-class tax and accounting firm to their preferred partner network.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative (TMC), the nation's only independent mortgage cooperative, today announced it has promoted Rich Swerbinsky to the role of Chief Operating Officer. Having served as its executive vice president of national sales and strategic alliances since 2015, Rich Swerbinsky will now serve TMC as its COO.

SHERMAN OAKS, Calif. /California Newswire/ -- Matic Insurance Services (Matic), a digital insurance agency that enables borrowers to purchase homeowner's insurance during the home-buying transaction, has forged a partnership with automated lending technology provider Roostify. The company announced the news Tuesday afternoon from the stage of TechCrunch's Startup Battlefield, part of the TechCrunch Disrupt SF conference held in San Francisco this week. Matic was one of just six elite startups chosen to advance to the final round of the competition.

SAN FRANCISCO, Calif. /California Newswire/ -- Sparkle Coin, Inc., designed to be the most transactable cryptocurrency available, is launching its initial coin offering (ICO) at 1 p.m. PDT September 20 and running through October 20, 2017 with coins beginning at $5. A LIVE STREAMING event will start at 12 p.m. PDT at TechCrunch SF.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative (TMC), the nation's only independent mortgage cooperative, announced a new preferred partnership with national correspondent investor and mortgage loan servicer, First Community Mortgage (FCM). The new relationship with FCM adds another best-in-class national correspondent investor to their preferred partner network.

SAN FRANCISCO, Calif. /California Newswire/ -- Sparkle Coin, Inc., founders of Sparkle Coin, a new cryptocurrency that allows users to make purchases from popular online retailers - like Amazon and Walmart - and features a currency exchange for liquidity, will be hosting a "lunch and launch" event during TechCrunch Disrupt SF 2017.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, announced a new partnership with Notarize, the nation's first entirely digital mortgage closing and remote notarization provider, adding them to the preferred partner network.

SAN DIEGO, Calif. /California Newswire/ -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, announced a new partnership with national compliance solutions provider, Strategic Compliance Partners. The new relationship with Strategic Compliance Partners adds another best-in-class mortgage compliance company to their preferred partner network.