Mortgage Lending March 15, 2007
→ AG assails mortgage-broker bill
Colorado Attorney General John Suthers said this week he opposes a push to license mortgage brokers, saying the legislation is poorly written. -- Denver Post,Aldo Svaldi,Denver Colorado 03/15/2007
→ Producer Prices Jump, Jobless Claims Retreat
MBS and Treasury prices held remarkably steady, with the release of the data. At just before closing, the 10-year Treasury yield was very near where it began the day`s trading, hovering around 4.53% -- MortgageMediaMag.com,Rob Hain,San Antonio Texas 03/15/2007
→ Two factory gauges show little growth
Two forward-looking indicators of factory activity showed very slow growth in early March, according to data released on Thursday. -- MarketWatch,Greg Robb,Washington DC 03/15/2007
→ U.S. jobless claims fell by 12,000 last week
The number of U.S. workers signing up for first-time jobless benefits fell unexpectedly last week, government data on Thursday showed, pointing to a steady labor market even as the economy cools. -- Reuters,,Washington DC 03/15/2007
→ Producer prices unexpectedly jump 1.3%
Wholesale food and energy prices surged in February, pushing up the producer price index by an unexpected 1.3%, the Labor Department reported. -- MarketWatch,Rex Nutting,Washington DC 03/15/2007
→ MARKET KINETIX APPOINTS RON LITT AS COMPANY PRESIDENT
Litt to focus on company`s flagship product, Deal Maker, a credit analysis tool which takes the guesswork out of credit scoring -- Market Kinetix,PRESS CONTACT: ,Houston TX 03/15/2007
→ MBA Chairman Robbins Testifies in Support of Reform to Reinvigorate FHA
John M. Robbins, CMB, Chairman of the Mortgage Bankers Association (MBA), testified today before the U.S. Senate Appropriations Committee`s Subcommittee on Transportation, Housing and Urban Development and Related Agencies. The topic of the hearing was "Solvency and Reform Proposals for the Federal Housing Authority." -- MBA,Laura Armstrong ,Washington DC 03/15/2007
→ U.S. LENDERS MUST EVALUATE CONSUMER CREDIT SCORE ALTERNATIVES
New Research from TowerGroup Finds Lenders Asking If Better Credit Risk Prediction is Worth the Cost of Conversion -- NEEDHAM, MA,Jorge Lavina, 03/14/2007
→ Delinquency Measures for Texas Rise in the Fourth Quarter`s National Delinquency Survey
The delinquency rate for mortgage loans on one- to four- unit residential properties in Texas increased 40 basis points. The percentage of loans in which foreclosure was started during the quarter rose 11 basis points to 0.63 percent, while the percentage of loans in the foreclosure process at the end of the quarter rose 4 basis points to 1.24 percent for the fourth quarter of 2006, according to MBA`s National Delinquency Survey. -- MBA, Laura Armstrong ,Washington DC 03/14/2007
→ Fannie Mae Updates 3/14/2007
-- Fannie Mae,,Washington DC 03/14/2007
→ Fidelity National Real Estate Solutions Acquires Realigent`s Award Winning Broker and Agent Technologies
Fidelity National Real Estate Solutions, a division of Fidelity National Financial, Inc. (NYSE:FNF) , announced today that it has acquired the assets of Realigent, an Irvine, California-based technology company that provides software solutions for real estate professionals. -- Fidelity National Financial, Inc. ,Daniel Kennedy ,Jacksonville FL 03/14/2007
→ 2nd Time Around for New Century - Mortgage Industry Insider from MortgageDaily.com
New Century Financial Corp. survived the subprime crisis of 1998 even as companies like Conti Mortgage, Industry Mortgage Co. and FirstPlus Financial collapsed, according to http://www.mortgagedaily.com/ -- the dominant source of online news for the mortgage industry. -- MortgageDaily.com,Sam Garcia,Dallas TX 03/14/2007
→ Zaio To Acquire Realink Corporation
Zaio Corporation (TSX-V: ZAO) announced today that it has entered into a definitive agreement to acquire the assets of Realink Corporation, a privately held company with offices in Tempe, Arizona. -- Zaio Corporation ,Thomas J. Inserra,Calgary Can 03/14/2007
→ Freddie Mac Updates 3/14/2007
-- Freddie Mac,Freddie Mac,Washington DC 03/14/2007
→ FIRST AMERICAN TITLE OPENS OFFICE TO SERVE SAN ANTONIO`S HISPANIC HOMEBUYING COMMUNITY
Multicultural Homeownership Solutions Program Offers Specialized Services for Latino Homebuyers -- First American Title Insurance Comp,Jessica Verduzco,San Antonio TX 03/14/2007
→ Weak Housing Market May Begin to Affect Consumer Spending, Says Deloitte Research Leading Index
The Deloitte Research Leading Index of Consumer Spending fell this month, due to continued weakness in the housing market. -- Deloitte & Touche USA LLP ,Laura E. Wilker,New York NY 03/14/2007
→ Wolters Kluwer Financial Services Helps Lenders Inform and Educate Customers on Features and Terms of Nontraditional Mortgages
Company Adds Interest-Only and Payment Option ARM Booklets to Its Comprehensive Suite of Consumer Education Materials for the Mortgage Industry -- Wolters Kluwer Financial Services ,Jennifer Marso,Minneapolis MN 03/14/2007
→ Housing Recovery Likely This Year, But Timing Isn`t Clear
Unusual weather patterns and problems in the subprime lending marketplace are creating challenges in assessing housing market conditions, but a recovery is likely this year, according to the latest forecast by the National Association of Realtors(R). -- National Association of Realtors ,Wendy Harper ,Washington DC 03/14/2007
→ Revealed: `Lending Champion` Secrets of a Renegade Mortgage Broker
Outspoken and unconventional Chicago mortgage broker, Scott Tucker, has been named 1 of Metro Chicago Real Estate Magazine`s Top 40 2006 Lending Champions ... and named by his own competitors! -- Tucker Family Financial Services, I,Tiffany Moeller,Chicago IL 03/14/2007
→ ACORN Members Lobby for Strong Predatory Lending Law
Protest at MBA Called for Foreclosure Moratorium on Predatory Loans -- Association of Community Organizati,Charles Jackson,,Washington DC 03/14/2007
→ Financial Coach: Reverse Mortgages Offer Seniors Relief from High Interest Mortgages
As national attention becomes increasingly focused on the crisis in the housing market, a financial coach and registered investment advisor believes reverse mortgages may be the answer for some cash-strapped senior citizens trapped in high interest mortgages. -- True Wealth Design, Inc. ,Kevin Kroskey,Cleveland OH 03/14/2007
→ Freddie Mac Names Colonial Savings as One of Nation`s Top Mortgage Servicers
Outstanding Performance Ranks Colonial Savings as One of Freddie Mac`s Best Servicers -- Colonial Savings,Janet Walter,Fort Worth TX 03/14/2007
→ Dominion Commercial Capital Names Gregory Adams Director of Reverse Mortgage and Senior Products Team
Dominion Commercial Capital (www.dfs-online.net) has appointed Gregory K. Adams director of reverse mortgage and senior products, announced today by Paul G. May, Sr., managing partner of Dominion. -- Dominion Commercial Capital, L.L.C,Samuel A. Cypert ,Troy MI 03/14/2007
→ KeyCorp Completes Sale of Champion Mortgage Origination Platform
KeyCorp (NYSE:KEY) said today it had completed the previously announced sale of the origination platform of Champion Mortgage to Nationstar Mortgage. Terms were not disclosed for the transaction, which was announced December 1, 2006. -- KeyCorp ,Bill Murschel,,Cleveland OH 03/14/2007
→ Sterling Financial Corporation of Spokane, Washington, Completes Its Acquisition of Northern Empire Bancshares
Sterling Financial Corporation (NASDAQ:STSA) ("Sterling") today announced completion of the acquisition of Northern Empire Bancshares ("Northern Empire"), the parent company of Sonoma National Bank, headquartered in Santa Rosa, California. -- Sterling Financial Corporation,Harold B. Gilkey,Spokane WA 03/14/2007
→ BancorpSouth Completes Merger With City Bancorp of Springfield, Mo.
Merger with parent company of The Signature Bank moves BancorpSouth into Springfield and St. Louis, Missouri, expanding BancorpSouth`s market presence into its eighth state -- BancorpSouth, Inc. ,Nash Allen ,Tupelo MS 03/14/2007
→ National City Announces Preliminary Results of Its Tender Offer
National City Corporation (NYSE:NCC) announced today the preliminary results of its "modified Dutch auction" tender offer to purchase up to 75 million shares of its own common stock at a purchase price not greater than $38.75 nor less than $35.00 per share, which expired at Midnight, New York City time, on February 28, 2007. -- National City Corporation ,Jill Hennessey,Cleveland OH 03/14/2007
→ Bankrate: Mortgage Rates Decline as Stock Market Shudders
Mortgage rates declined for the third time in the past four weeks, with the average 30-year fixed mortgage rate dropping to 6.20 percent. According to Bankrate.com`s weekly national survey of large lenders, the 30-year fixed rate mortgages had an average of 0.32 discount and origination points. -- Bankrate, Inc, Kayleen Keneally,New York NY 03/14/2007
→ AMERICAN HOME MORTGAGE NAMES TOP DISTRICT MANAGER
Dave Braakman has been named district manager and vice president of American Home Mortgage s Northern Illinois and Wisconsin sales regions, the company announced today. He will be responsible for managing the company s growing market presence in the area. -- Home Mortgage,John Lovallo,Melville NY 03/14/2007
→ KLP Selects Reference Data Management Solution from AIM Software for Multi Data Feed Processing
Financial data management platform GAIN from AIM Software to integrate Bloomberg and Reuters data -- AIM Software ,Gerlinde Pachinger,Oslo Norway 03/14/2007
→ Are Buyers Looking For in Homes Today? GetSmart Offers Top Three Design Trends
Spring is almost here and that means it`s time to get ready for another home buying season. Homebuyers are becoming more sophisticated so most will turn their noses up at orange shag carpet and avocado appliances. Some will chose to buy fixer-uppers but most are now demanding top design trends already be included in their new dream homes. So what are the top design features of homes this spring? GetSmart.com will share the news. -- GetSmart.com ,ALLISON VAIL ,Charlotte NC 03/14/2007
→ Applications Increase in Latest MBA Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 9, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 690.5, an increase of 2.8 percent on a seasonally adjusted basis from 671.6 one week earlier. On an unadjusted basis, the Index increased 3.2 percent compared with the previous week and was up 19.1 percent compared with the same week one year earlier. -- MBA,Aleis Stokes ,Washington DC 03/14/2007
→ Q4 2006 Commercial/Multifamily Mortgage Debt Outstanding
At the end of 2006, $2.95 trillion in commercial/multifamily mortgage debt outstanding was recorded by the Federal Reserve, an increase of $333 billion or 12.7 percent from the end of 2005. In the fourth quarter alone, commercial and multifamily mortgage debt outstanding increased by $99 billion, or 3.5 percent. At the end of 2006, multifamily mortgage debt outstanding stood at $731 billion - an increase of $51 billion or 7.5 percent over the year, and $15 billion or 2.1 percent in the fourth quarter alone. -- MBA,Laura Armstrong ,Washington DC 03/14/2007
→ LEONARD LUCAS OF LOVE FUNDING`S BOSTON OFFICE SECURES $12,900,000 FOR THE RAMBLING OAKS SENIOR HOUSING DEVELOPMENT
Love Funding Corporation today announced that Leonard Lucas of the Boston office secured a $12,900,000 loan to finance the acquisition of Rambling Oaks assisted living portfolio. -- Love Funding,Julie Hauser ,Boston MA 03/13/2007
→ China`s new economic power is helping the world overcome a surprising slump in U.S. creditworthiness
China`s soaring growth is driving a major improvement in global creditworthiness and offsetting a surprising decline in the United States` credit rating, according to an exclusive survey by Institutional Investor magazine. -- Institutional Investor, KATHY ANDREW,New York NY 03/13/2007
→ AdvanceStart.com Allowing You to Apply for Secured Loans Online
The UK financial website which provides free support for people who are interested in applying for a secured loan online. -- AdvanceStart.com, Jon Francis,Uk 03/13/2007
→ ICBA Supports Stronger GSE Regulation, Urges Congress to Preserve Local Access to Capital
The Independent Community Bankers of America (ICBA) told Congress that the association strongly supports efforts to improve the regulation of Fannie Mae, Freddie Mac and the Federal Home Loan Banks -- ICBA,Karen Tyson,Washington DC 03/13/2007
→ MBA Chairman Robbins Testifies on GSE Reform, Calling for Strong Regulator
John M. Robbins, CMB, Chairman of the Mortgage Bankers Association (MBA), testified today before the U.S. House of Representatives` Financial Services Committee, Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Robbins testified on legislative proposals for GSE reform. -- MBA,Laura Armstrong ,Washington DC 03/13/2007
→ No Economic Releases - Bonds Hold
There were no scheduled economic releases on Monday, and trading was relatively light. MBS and Treasury prices held within a reasonably tight range, despite the volatility often associated with light trading. By closing the 10-year Treasury yield was 4.55%. The next data release will be Retail Sales at 8:30 Eastern on Tuesday. -- MortgageMediaMag.com,Rob Hain,San Antonio Texas 03/12/2007
→ National Residential Originator Licensing
Many of you may remember that we took a stand last year against the New York State Banking Department and their attempt to require individual licensing for residential loan originators. For those of you who were sleeping, judging by the level of support and input we received, many of you were, the law passed and was signed by then Governor Paraki prior to him leaving office. (Thanks George) -- Mid-Hudson Valley Mortgage Bankers,,Poughkeepsie NY 03/11/2007
→ Jobs Report Disappoints - Bonds Mixed
Treasury prices held throughout the day, but MBS prices were not so steady. MBS prices fell after the day`s releases, taking yields higher. The 10-year Treasury yield closed at 4.59%.
The next data release is Retail Sales on Tuesday at 8:30 Eastern. -- MortgageMediaMag.com,Rob Hain,San Antonio Texas 03/09/2007
→ Financing a Car with a Home Equity Loan - LendingTree.com Shares the Facts
Car dealerships are constantly trumpeting their "zero-percent" financing deals. While these may sound attractive, these deals are sometimes too good to be true. Those in the market for a new car might want to consider a different form of financing for their purchase: a home equity loan or home equity line of credit (HELOC). Often used to pay for home renovations, this tool is also sometimes a good fit for car financing. -- LendingTree.com ,ALLISON VAIL ,Charlotte NC 03/09/2007
→ INSURED $7.4 MILLION HUD LOAN REFINANCES BURBANK, CALIFORNIA HEALTHCARE FACILITY
Catalyst/Cambridge Healthcare Finance has arranged a $7.4 million FHA-insured first mortgage loan to refinance Burbank Healthcare and Rehabilitation Center, a 187-bed skilled nursing home facility in Burbank, California. -- Catalyst/Cambridge Healthcare Finan,Katie Trice,New York NY 03/09/2007
→ Mortgage Credit News - March 9, 2007
Long-term rates are rising quickly, the 10-year T-note to 4.60% from sub-4.50% one week ago, mortgages to 6.25%, both headed higher. -- Boulder West,Lou Barnes,Boulder CO 03/09/2007
→ New: Stop House Repossession, Mortgage & Remortgage Product from Enable Finance
Enable Finance, the UK mortgage and loan broker, has confirmed the launch of a new mortgage product designed specifically to stop house repossession from an existing mortgage or secured loan lender. -- Enable Finance,Phillip Evans,Uk 03/09/2007
→ Mortgage Licensing System Embraced By Some Slammed By Others
Recently we reported on a new nationwide system for licensing and regulating mortgage lenders on the state level. -- Mortgage News Daily,, 03/08/2007
→ MBA Signs Memorandum of Agreement with FBI to Promote Use of FBI`s Mortgage Fraud Warning Notice
John M. Robbins, CMB, Chairman of the Mortgage Bankers Association (MBA), today joined Karen E. Spangenberg, Financial Crimes Section Chief for the Federal Bureau of Investigation (FBI) to announce and sign a memorandum of agreement for the two organizations to work together to promote the FBI`s Mortgage Fraud Warning Notice. -- MBA,Laura Armstrong ,Washington DC 03/08/2007
→ Lean Economic News Day - Bonds Rally Slightly on Other News
Uncertainty in the equity markets sent some investors to MBS and Treasury instruments seeking safety. Stock market uncertainty has been higher lately, due to international equity pressures, along with weaker employment news. Just before 1:00 Eastern, the 10-year Treasury yield was down to 4.52%. -- MortgageMediaMag.com,Rob Hain,San Antonio Texas 03/07/2007
→ Bond prices rise as stocks seen lower
Treasury debt prices rose moderately early on Wednesday on the revival of a modest safe-haven bid as futures pointed to a slightly lower opening on U.S. stock markets. -- Reuters,John Parry,New York NY 03/07/2007
→ Rents Mark Inflation While Property Prices Soar
Continually rising house prices mean that yields on Buy to Let property remain relatively static. However, the cash value of rents received by landlords has kept pace with inflation. This shows clearly in the latest quarterly survey of ARLA member letting agents, published today. The survey, the largest of its kind in the private rented sector, also shows that new build is not as popular as believed. -- ARLA,Malcolm Harrison ,London UK 03/07/2007
→ Bridge Mortgages Now Offers Fixed Home Equity Loans with Low Intro Rates
Bridge Mortgages began offering their new fixed rate home equity loan that provides a low introductory interest rate. The second mortgage lending team at Bridge has just released a new home equity product that offers a reduced intro rate for 6 months that starts as low as 6.25%. -- Bridge Mortgages ,Marney Dornan , 03/07/2007
→ AdvanceStart.com Offering a Free Service to Compare Loan Plans with a Free Call Back
AdvanceStart.com , the UK financial website, is now offering a free service with which to compare more than 200 UK secured loan plans in minutes, with a free call back in order to let home owners discuss personalised advice on secured loans. -- AdvanceStart.com ,Jon Francis ,London UK 03/07/2007
→ Study of Canada`s Unsecured Personal Lending Market Reveals Pricing Practices Are a Top Priority of Market Leaders
BenchMark Consulting International unveils results of pricing practices survey sponsored by Nomis Solutions that the majority of UPL pricing decisions are based on a limited number of predictive models. Most use a risk-based pricing approach adjusted for competitive rates. 34% consider reaching profit or volume targets to be their greatest challenge in 2007. 83% of participants have plans to improve pricing processes in the next year. -- Nomis Solutions,MARK PETERSON ,San Bruno CA 03/07/2007
→ Mortgage Professional Earns Prestigious National Mortgage Industry Certification
James Campanella, with Fresh Start Financial Services, Inc., a mortgage broker located in Rolling Meadows, IL, became one of only a small percentage of mortgage professionals to attain the standing as a nationally recognized Certified Residential Mortgage Specialist. Campanella pass the National Association of Mortgage Brokers (NAMB) written certification examination on February 23, 2007 at Skokie, Illinois. -- Fresh Start Financial Services, Inc,James Campanella ,Rolling Meadows IL 03/07/2007
→ Refinance Applications Jump As Mortgage Rates Decline
he Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 2, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 671.6, an increase of 7.3 percent on a seasonally adjusted basis from 626.1 one week earlier. On an unadjusted basis, the Index increased 19.9 percent compared with the previous week and was up 15.6 percent compared with the same week one year earlier. -- MBA,Aleis Stokes ,Washington D.c 03/07/2007
→ Productivity Revised Lower, Costs Jump
U.S. workers were less productive last quarter than initially estimated and labor costs jumped, making it harder for the Federal Reserve to reduce interest rates even as manufacturing and housing continue to slump. -- Bloomberg,Joe Richter, 03/06/2007
→ MBS Prices Hold, Treasuries Wander
MBS prices held rock steady on light trading during the day. Treasury prices wandered, taking yields down, then up, then down again. By the end of trading, the 10-year Treasury yield was 4.53%. -- MortgageMediaMag.com,Rob Hain,San Antonio Texas 03/06/2007
→ CAMBRIDGE SAYS DOLLAR VOLUME FOR LOAN ORIGINATION REQUESTS SURPRISE IN JANUARY
Cambridge Realty Capital Companies reports that the dollar volume for loan origination requests reviewed by the company in January added up to the second highest monthly total over the past 36 months. -- Cambridge Realty Capital Companies,Katie Trice,New York NY 03/06/2007
→ MBA Calls for a Long-term Terrorism Insurance Solution at House Subcommittee Hearing
Today, the Mortgage Bankers Association (MBA) testified before the U.S. House of Representatives` Committee on Financial Services` Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Steven K. Graves, Vice Chair of MBA`s Commercial Real Estate/Multifamily Finance Board of Governors and Managing Director and Chief Operating Officer of Principal Real Estate Investors, represented MBA at the Subcommittee`s field hearing in New York City`s City Hall. The objective of the MBA testimony was to advocate for a long-term terrorism insurance solution that would make terrorism insurance both available and affordable. -- MBA, Laura Armstrong ,Washington DC 03/06/2007
→ ELLIE MAE ANNOUNCES ENCOMPASS® WEBCENTER, A NEXT-GENERATION WEB SITE FOR MORTGAGE ORIGINATORS
WebCenter offers real-time two-way communication between a web site and Encompass -- Ellie Mae,Rosalie Berg,Dublin CA 03/06/2007
→ Services Sector Grows Less Than Expected - Bonds Hold
MBS prices held steady following the news, with Treasury prices falling steadily throughout the day. By the end of trading, the 10-year Treasury yield was up to 4.51%. -- MortgageMediaMag.com,Rob Hain,San Antonio Texas 03/05/2007
→ BB&T Signs Multiyear Contract Extension for Fidelity National Information Service`s Mortgage Servicing Package
Fidelity National Information Services, Inc. (NYSE:FIS) today announced that BB&T, one of America`s "Best Big Companies" in Forbes Platinum 400 List, has signed a multiyear contract renewal for FIS` Mortgage Servicing Package (MSP). -- Fidelity National Information Servi,Michelle Kersch,Jacksonville FL 03/05/2007
→ American Home Mortgage Retail Lending Division Names Jose Hidalgo Vice President and Senior District Manager for Florida
American Home Mortgage Retail Lending Division, the retail lending division of American Home Mortgage Investment Corp., today announced that Jose Hidalgo has been named a vice president and senior district manager for Florida. -- American Home Mortgage, John Lovallo,Melville NY 03/05/2007
→ AMERICAN HOME MORTGAGE PROMOTES LINDA WELLMAKER TO REGIONAL OPERATIONS MANAGER
Linda Wellmaker-Ferriter, formerly area manager for American Home Mortgage, has been promoted by the company to regional operations manager. In her expanded leadership role, she will oversee the processing and closing of all American Home Mortgage loans in Florida and provide full operational and management support to the company s sales force and customers -- American Home Mortgage,John Lovallo,Melville NY 03/05/2007
→ Society of Independent Representatives Annual convention.
Our convention is open to all interested in attending. This year we will again be at the Historial Crowne Plaza at Quaker Square, Akron Ohio. This unique facility was once home to the Quaker Oats Company. The physical structure was oatmeal silos. The round silo features have been maintained and converted to provide uniquely round luxurious rooms. Silo suites are available. -- Society of Independent Representati,Mimi Norris,Akron OH 03/05/2007
→ U.S. Regulators Urge Scrutiny of Subprime Mortgages
The Federal Reserve, seeking to limit defaults that have roiled the subprime mortgage-lending market, told banks to scrutinize their underwriting standards and be more transparent with customers about borrowing risks. -- Bloomberg,Jesse Westbrook, 03/05/2007
→ Mortgage Bankers Association`s Statement
The Mortgage Bankers Association`s (MBA) Chairman, John M. Robbins, CMB, issued the following statement regarding the release today of a "Proposed Statement on Subprime Mortgage Lending" by federal financial institution regulators. -- MBA,Laura Armstrong ,Washington DC 03/05/2007
→ Mortgage Credit News - March 2, 2007
Mortgages are nearing 6.00% for the first time since last Thanksgiving, pulled down by a general flight to high-quality assets (yes, US-agency guaranteed "A" mortgage paper is still high-quality). The 10-year T-note at 4.50% has again priced-in a Fed easing by summer (wrong several times in `06, might at last have it right). -- Boulder West,Lou Barnes,Boulder West CO 03/05/2007
→ Tougher subprime-lending standards urged
Federal bank regulators demanded tougher standards for subprime loans Friday, saying they`re worried that borrowers who select adjustable-rate mortgages may not understand the risks associated with them. -- MarketWatch,Robert Schroeder,Washington DC 03/05/2007
→ Introduction to the Securities Industry - Structure & Trends
Only three-days left to register for a class that addresses the number one priority in the securities industry; training. The new year brings with it an uncertain future with a new set of rules and regulations. The only way to be prepared is to have the training necessary to manage all the information needed. Being well trained, and to have a knowledgeable staff is the key to avoiding trouble ahead. -- Global Investment Operations ,Lee Titone, 03/05/2007
→ Feds Caution on Subprime Mortgages
Federal bank regulators, worried about a surge in defaults on high-risk home mortgages, called on lenders to exercise caution in making subprime loans and strictly evaluate borrowers` ability to repay them. -- CBS News,Marcy Gordon (AP),Washington DC 03/05/2007
→ Scrutiny grows on US subprime lenders
Recent aggressive lending to American home buyers with weak credit histories is attracting mounting official scrutiny with at least two US lenders now facing federal probes or restrictions on their operations. -- Financial Times London,Richard Beales and Sarah Spikes,New York/london NY/UK 03/04/2007
→ States Developing National Residential Mortgage Licensing System
Twenty-nine state agencies have indicated their intent to participate in the Residential Mortgage Licensing System by the end of 2009. -- Mortgage Fraud Blog,,Santa Rosa California 03/02/2007
→ Consumer Sentiment Down Slightly - Yields Holding
With Sentiment being the only data released, bonds had little motivation to move during the day. By closing, the 10-year Treasury yield was 4.50% - even on the day and lower than Thursday`s close. The next data release is the ISM Non-Manufacturing report on Monday at 10:00 Eastern. -- MortgageMediaMag.com,Rob Hain,San Antonio Texas 03/02/2007
→ Two Associations of State Regulators Issue Nontraditional Mortgage Lending Guidance
In October a covey of federal agencies including the Federal Reserve, The Federal Deposit Insurance Corporation, and the National Credit Union Administration published what was called "final guidance" on underwriting nontraditional mortgage products. -- Mortgage News Daily,,Cornelius NC 03/02/2007