Mortgage Lending March 31, 2007
→ Order Certified Home Appraisals on eppraisal.com
Online Real Estate Valuation Site Gives Consumers Something to Take to the Bank -- eppraisal.com ,Erica Lee ,Orlando FL 03/31/2007
→ 17 Professionals Earn Certified Mortgage Technologist Designation
Today CampusMBA, the award-winning educational arm of the Mortgage Bankers Association (MBA), will award the Certified Mortgage Technologist (CMT) designation to 17 mortgage industry professionals in a ceremony to be held at the association`s annual National Technology in Mortgage Banking Conference in Tampa. -- MBA,Laura Armstrong ,Tampa FL 03/30/2007
→ SMALL BUSINESS LENDING GROWTH DRIVING INCREASED FOCUS ON SMALL BUSINESS LOAN ORIGINATION
New TowerGroup Research Emphasizes Need for Banks to Embrace Unique Characteristics of Small Businesses to Capitalize on Lending Opportunities -- TowerGroup ,,Needham Ma, 03/30/2007
→ Rapid Reporting Appoints Andrew Deignan Vice President of Operations
Rapid Reporting, a national provider of pre-funding income and identity verification products to the mortgage industry, announced that Andrew Deignan joined the company as vice president of operations. -- Rapid Reporting ,Heather Cunningham,Fort Worth TX 03/30/2007
→ MBA Chairman Robbins Lauds Committee Passage of GSE Reform
John M. Robbins, CMB, Chairman of the Mortgage Bankers Association (MBA) today commended the Financial Services Committee of the U.S. House of Representatives on reporting out H.R. 1427, the Federal Housing Finance Reform Act of 2007, legislation that will improve regulation of Fannie Mae, Freddie Mac (the Government-Sponsored Enterprises or GSEs) and the Federal Home Loan Banks. -- MBA,Laura Armstrong ,Washington DC 03/30/2007
→ MBA Chairman Robbins Applauds Legislation to Modernize FHA
John M. Robbins, CMB, Chairman of the Mortgage Bankers Association (MBA), applauded today`s introduction of legislation to modernize and revitalize the Federal Housing Administration (FHA). Two bills were introduced in the House today, one by Financial Services Committee Chairman Barney Frank and Congresswoman Maxine Waters and the other by Congresswoman Judy Biggert. -- MBA,Laura Armstrong ,Washington DC 03/30/2007
→ Mortgage Credit News - March 30, 2007
Upward pressure continues on long-term rates: the 10-year T-note at 4.65% has jumped the March range, and mortgages are at risk to lose the 6.25% level. -- Boulder West,Lou Barnes,Boulder CO 03/30/2007
→ SMALL BUSINESS LENDING GROWTH DRIVING INCREASED FOCUS ON SMALL BUSINESS LOAN ORIGINATION
New TowerGroup Research Emphasizes Need for Banks to Embrace Unique Characteristics of Small Businesses to Capitalize on Lending Opportunities -- Tower Group,,Needham MA 03/28/2007
→ MHI MORTGAGE PRESIDENT SPEAKS ON INDUSTRY PANEL
Last month, through its mortgage subsidiary MHi Mortgage, Mercedes Homes participated in the Mortgage Bankers of America (MBA) Residential Loan Production Conference. The conference was held at the Century Plaza Hyatt Regency in Los Angeles, from January 31 through February 1, 2007. -- MHi Mortgage,Mercedes Homes,Melbourne FL 03/28/2007
→ TOWERGROUP ANNOUNCES 2007 CONFERENCE THEME: "GLOBALIZATION: STRATEGIES FOR A SMALL WORLD"
Pamela Joseph, Vice Chairman, US Bancorp Chairman and Chief Executive Officer, NOVA Information Systems, Inc. to Keynote Conference -- TowerGroup:,Anne Green ,Needham MA 03/28/2007
→ ELLIE MAE`S JONATHAN CORR LISTED AMONG 2007 IT ALL-STARS
By leading the development of Encompass®, Corr transformed the industry standard for loan origination systems and helped effectuate ePASS` widespread utilization -- Ellie Mae,Rosalie Berg,Dublin CA 03/28/2007
→ Optical Image Technology Selected as Award Finalist
Enterprise Content Management Winners to be Announced at AIIM On Demand Conference in Boston -- Optical Image Technology, Inc.,Barbara Collins,State College PA 03/28/2007
→ MBA REBUTS CENTER FOR RESPONSIBLE LENDING`S CLAIM THAT SUBPRIME LENDING IS A NET DRAIN ON HOMEOWNERSHIP
John M. Robbins, CMB, Chairman of the Mortgage Bankers Association today issued the following statement, standing by MBA`s analysis of the subprime mortgage market and its contribution to homeownership rates and challenging the integrity of the data and methodology of the Center for Responsible Lending`s (CRL) recent study. -- MBA,Laura Armstrong ,Washington DC 03/28/2007
→ ICBA Asks Congress to Preserve Funding for the Housing Markets
The Independent Community Bankers of America (ICBA) asked Congress to support key changes to the Federal Housing Finance Reform Act of 2007 (H.R. 1427) that would make the regulatory and supervisory powers of the new regulatory agency comparable to the safety and soundness authorities of banking regulators. -- Independent Community Bankers of Am,Karen Tyson,Washington DC 03/28/2007
→ Integrity Home Mortgage Continues Rapid Growth by Outsourcing Back-Office Operations to Guardian Mortgage Services
Broker turned banker garners success by outsourcing closing and post-closing operations in order to focus on originations, increasing regional presence and adding more mortgage professionals -- Guardian Mortgage Services,Nneka Egwuatu ,Tampa FL 03/28/2007
→ Mortgage Applications Decrease In Latest MBA Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 16, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 672.1, a decrease of 2.7 percent on a seasonally adjusted basis from 690.5 one week earlier. On an unadjusted basis, the Index decreased 2.5 percent compared with the previous week and was up 18 percent compared with the same week one year earlier. -- MBA,Aleis Stokes ,Washington DC 03/28/2007
→ Affordable Housing a High Priority, According to New Affordable Housing Poll
Nine out of ten Americans cite affordable housing as a high priority according to a new Zogby America poll. The poll was commissioned by a coalition of public, private and non-profit industry groups, including the Mortgage Bankers Association (MBA), in conjunction with the commencement of a nationwide affordable housing awareness campaign, "Housing America 2007." -- MBA,Laura Armstrong ,Washington DC 03/28/2007
→ Expert to Reveal the Mysteries of Credit, Credit Scoring and Credit Repair to `The Regular Guy`
Live event to break down the complex word of credit for the regular guy; regular guys (and gals) invited to participate March 29 at 6:00 p.m. (Pacific). -- Credit4TheRegularGuy.com ,Stefan Lubinski,,Pleasanton CA 03/28/2007
→ Mortgage Applications Decrease Slightly in Latest MBA Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 23, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 671, a decrease of 0.2 percent on a seasonally adjusted basis from 672.1 one week earlier. On an unadjusted basis, the Index decreased 0.2 percent compared with the previous week and was up 16.6 percent compared with the same week one year earlier. -- MBA, Aleis Stokes ,Washington DC 03/28/2007
→ MBA Releases Newly Expanded Commercial/Multifamily Databook
The Mortgage Bankers Association (MBA) today released its Commercial Real Estate/Multifamily Finance Quarterly Data Book for the fourth quarter of 2006. Within this edition of the Data Book, MBA has added new content in the areas of commercial real estate collateralized debt obligations (CRE CDO) issuance and commercial mortgage-backed securities (CMBS) outstanding. -- MBA,Laura Armstrong ,Washington DC 03/28/2007
→ Proposed National Registry Would Create Illusion of Protection
CSBS and AARMR Continue to Misrepresent Effectiveness of System -- National Association of Mortgage Br,,Mclean Virginia 03/27/2007
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→ MBA Chairman Robbins Testifies on Subprime and Predatory Lending
-- MBA,Laura Armstrong ,Washington DC 03/27/2007
→ Mortgage Credit News - March 23, 2007
Long-term rates are moving up this morning, mortgages rising toward 6.25%, the definitive 10-year T-note to 4.61%, out of a three-week rest in the four-fifties. -- Bilder West,Lou Barnes,Boulder CO 03/26/2007
→ Existing Home Sales Rise 3.9 Percent
Sales of existing homes rose in February by the largest amount in nearly three years, but worsening troubles in subprime mortgages were viewed as a roadblock to a full-fledged rebound. The National Association of Realtors reported Friday that existing home sales climbed 3.9 percent last month, pushed up by a milder-than-normal winter that boosted sales in areas of the country such as the Northeast. -- Forbes,MARTIN CRUTSINGER (AP), 03/23/2007
→ Home Sales Surge - Bond Yields Up
While some saw the encouraging news tempered somewhat by the upheaval in the subprime sector, bond yields rose throughout the day. By the end of trading, the 10-year Treasury yield was up to 4.61%. The next economic data release will be New Home Sales at 10:00 Eastern on Monday. -- MortgageMediaMag.com,Rob Hain,San Antonio TX 03/23/2007
→ Initial jobless claims fall to six-week low
The number of Americans signing up for state unemployment benefits fell to the lowest level in six weeks in the week ending March 17, the Labor Department reported Thursday. -- MarketWatch,Rex Nutting,Washington DC 03/22/2007
→ Leading indicators fall, signaling choppy growth
The economy is likely to grow at a moderate but "choppy" pace in the coming months, the Conference Board said Thursday upon the release of the index of leading economic indicators. -- MarketWatch,Rex Nutting,Washington DC 03/22/2007
→ Fed Keeps Rate at 5.25%, Drops Reference to `Firming`
The Federal Reserve kept the benchmark U.S. interest rate at 5.25 percent and unexpectedly abandoned its tilt toward higher borrowing costs. -- Bloomberg,Craig Torres, 03/21/2007
→ Eric P. Wohl of Hanley Brown Group Promoted to Vice President and Featured in Real Estate Southern California Magazine`s "30 Under 30"
Hanley Brown Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the sale of retail properties, announced today that Eric P. Wohl has been promoted from Senior Associate to Vice President at Hanley Brown Group. Wohl was also recently named one of the "30 Under 30" leading players in Southern California`s Commercial Real Estate Industry by Real Estate Southern California magazine. -- Hanley Brown Group Real Estate Advi,anne monaghan,Irvine CA 03/20/2007
→ Sub-Prime Mortgages
Ron Riggins of Eagle Mortgage warns that such lenders "Don`t have to go by any guidelines written by Fannie Mae , Freddy Mac or the government agencies." -- Central Illinois Proud,,Bloomington IL 03/20/2007
→ CAMBRIDGE PROVIDES $7.9 MILLION LOAN TO REFINANCE PENNSYLVANIA NURSING HOME
Cambridge Realty Capital Companies has provided a five-year, $7.9 million conventional first-mortgage loan to refinance Harlee Manor, a 153 bed skilled nursing and assisted living facility in Springfield, PA. -- Cambridge Realty Capital Companies ,Katie Trice,New York NY 03/20/2007
→ Zementis Announces that HNMA Launched Its Correspondent PreQual Solution Using Zementis` Platform
Zementis announced today that the Hispanic National Mortgage Association (HNMA), a for-profit organization focused on increasing homeownership opportunities within the Hispanic market, is using a highly interactive PreQual solution based on Zementis` innovative ADAPA™ platform for QuickHAUS, its automated mortgage prequalification system. -- Zementis Inc. ,WENDY CHEUNG ,San Diego CA 03/20/2007
→ NYSE Delays Suspension and Delisting of ECC Capital Corporation
ECC Capital Corporation (NYSE:ECR) today announced that on March 14, 2007 it was notified by NYSE Regulation, Inc. that the NYSE will delay the suspension of trading in ECC Capital common stock for two days in order to allow ECC Capital additional time to make arrangements for an alternate trading venue. The NYSE currently intends to suspend trading in ECC Capital common stock prior to market opening on Monday, March 19, 2007. As previously announced, ECC Capital expects but can not guarantee that its common stock will be quoted on the OTC Bulletin Board following NYSE suspension. -- ECC Capital Corporation , Roque A. Santi,Irvine CA 03/20/2007
→ LECG to Acquire Leading Financial Service Consulting Firm, The Secura Group LLC
Firm Founded by Former Chair of FDIC William Isaac; Secura Expands LECG Offerings in Regulatory Compliance Consulting and Expert Services to Banking and Financial Service Sectors -- LECG ,Diane E. Hamlin,Emeryville Calif., 03/20/2007
→ American Mortgage Network and Wachovia Third Party Lending Rebranded to Create Vertice
New Brand Reflects Vertically Integrated Origination Strategy and Sales Expertise -- Wachovia Corporation ,Kasey Emmel,Charlotte NC 03/20/2007
→ Banking Department Announces Agreement With Troubled Mortgage Companies to Fund Loans
Consent Agreement and Order Protects Pennsylvania Consumers -- Pennsylvania Office of the Governor,Heather Tyler ,Harrisburg PA 03/20/2007
→ FHA Reform Could Provide Borrowers With Safer Mortgage Alternative
The country needs a strong, viable Federal Housing Administration that delivers housing policies that ensure federal housing programs meet their mission responsibly and efficiently, the National Association of Realtors(R) stated today to a Senate subcommittee on housing. -- National Association of Realtors, Mary Trupo,Washington DC 03/20/2007
→ PMI Provides Statement on Prime Focus of U.S. Mortgage Insurance Business
Presentation Highlights Portfolio Characteristics -- The PMI Group, Inc. ,Bill Horning ,Walnut Creek CA 03/20/2007
→ American Home Mortgage and Collegiate Financial Services Join Forces to Serve Mortgage and Relocation Needs Of College Sports Administrators AHM becomes exclusive supplier of mortgage services to CFS customer base
AHM becomes exclusive supplier of mortgage services to CFS customer base -- Collegiate Financial Services,John Lovallo,Melville NY 03/20/2007
→ To Protect Sub-prime Borrowers and Nation`s Housing Market, NCRC Urges Administration and Congress to Allow FHA to Refinance Loans in Default and Establish a National Rescue Fund
Other Policy Proposals Will Strengthen Consumer Laws & Eliminate Exotic Loans & Incentives for Bad Lending Practices -- National Community Reinvestment Coa,Karen Hinton,Washington DC 03/20/2007
→ Declining Home Prices Continue to Curb Rate of Overvaluation in Nation`s Housing Market
Prices reflect a market returning to normal -- Global Insight ,James Diffley,Waltham MA 03/20/2007
→ Mortgage and Housing Market Going Strong North of the Border announces MortgageBrokers.com
ompany predicts Canadian Refinance boom for 2007-2009 -- MortgageBrokers.com Inc,Alex Haditaghi,Richmond Hill ON 03/20/2007
→ The Key to Understanding Mortgages
Bankrate Releases Third Segment of Financial Literacy Project -- Bankrate, Inc. ,Kayleen J. Keneally,New York NY 03/20/2007
→ Securities Fraud Attorney Urges Elderly Investors to Beware Aggressive Brokers Bearing Mortgage Backed Securities
Securities Fraud Attorney Mark Tepper who represents investors deceived by abusive broker sales practices, says shareholders should be wary of brokers who sell financial products known as Collateralized Mortgage Obligations (CMOs), some of which are volatile and unsuitable for unsuspecting investors. AAA ratings or government guarantees do not protect these securities against interest rate risk. -- NewsMark Public Relations,Mark Hopkinson,Fort Lauderdale FL 03/20/2007
→ Perimeter eSecurity Launches New Suite of Identity Protection Services To Discover and Take Down Phishing & Pharming Websites
Industry leading Pharming Shield and CounterPhishSM Services Available for a Limited Time at a Significant Discount -- CNC Associates,Cathy Clarke,Milford CT 03/20/2007
→ As Sub Prime Sector Heats Up, Mortgage Backed Industry Gathers in Miami
As worrisome headlines continue to appear on a daily basis, financial industry professionals deep in the trenches of the mortgage-backed securitization market are preparing to gather for a crucial industry conference. Held this year from April 29-May 2 at the Loews Hotel in Miami Beach, The Spring ABS Show will bring together more than 1,500 individuals who originate, structure, rate, sell, package, securitize and invest in mortgage backed securities. Topic A of this year`s conference: the sub-prime mortgage market. -- Information Management Network ,Andrew Schiff,Miami FL 03/20/2007
→ Harbor Federal Savings Bank Converts to National City
Marks National City`s First Retail Banking Presence in Florida -- National City Corporation ,Chris Kemper ,Fort Pierce FL 03/20/2007
→ Home Foreclosures Uproot Families and Destroy Neighborhoods -- What the Industry Can Do to Help
NPA Tells Congress and FTC to Step Up and Protect Families from Lending Abuse and Foreclosures -- National People's Action,Christy Bockheim,Washington DC 03/20/2007
→ GMAC Real Estate Starts Year by Adding 10 New Strategic Partners
GMAC Real Estate (http://www.gmacrealestate.com/) Franchise Operations announced the addition of 10 new strategic partners, continuing a trend of bringing many of the nation`s leading independent real estate firms into the company`s fold. -- AC Real Estate Franchise,Hugh Siler,Oak Brook IL 03/20/2007
→ Americans Give Uncle Sam an Interest Free Loan
Expert says large tax returns are wasted investment opportunities -- Renaissance Mortgage ,Shannon Hill ,Salem NH 03/20/2007
→ Americans Speak Out on Affordable Housing, New Nationwide Zogby Poll Results to be Released
With Skyrocketing Home Prices and the Current Subprime Mortgage Challenges, Where Does Affordable Housing Rank as a Priority and in Relationship to the 2008 Election Cycle? -- National Press Club,Mary Barron ,Washington DC 03/20/2007
→ Avoid Bankruptcy Mortgages and IVA Remortgage Product Features to Clear Debt
Enable Finance, the UK specialist mortgage broker is highlighting the innovative new mortgage and remortgage products specifically designed for borrowers currently bankrupt or recently discharged from bankruptcy. -- Enable Finance - Loans & Mortgages ,Phillip Evans ,Uk 03/20/2007
→ Real Estate Crisis is More Than Just Mortgages → C-BASS and Fieldstone Investment Corporation Amend Merger Agreement → Newcastle to Acquire $1.7 Billion Portfolio of Residential Mortgage Loans → Repurchase Resolution Specialists Provide Answers to Subprime Collapse → Hopeful Signs in Subprime Struggle - Mortgage Industry Insider from MortgageDaily.com → First American CoreLogic Study Investigates Impact of Mortgage Payment Reset on the Lending Industry and National Economy → New LeadGuardian® Protects Mortgage Lenders from Employee Theft → ZEIGLER OF LOVE FUNDING`S SEATTLE OFFICE ARRANGES FINANCING FOR PERCY VILLAGE → Optical Image Technology Announces Upcoming Release of Five New Add-On Products → ICBA Statement on Wal-Mart Pulling Its ILC Application → Mortgage Credit News - March 16, 2007 → AG assails mortgage-broker bill
For over two years Americas Watchdog
Fieldstone Stockholders To Receive $4.00 Per Share In Cash And C-Bass To Provide Additional Liquidity To Fieldstone -- Fieldstone Investment Corporation; ,Lisa Brzezinski,New York NY 03/19/2007
-- Newcastle Investment Corp. ,Lilly H. Donohue,New York NY 03/19/2007
New Service Helps Lenders Fight, Resolve Defaults & Buyback Demands -- Repurchase Resolution Specialists ,ANDREW LIPUT ,Mountain Lakes NJ 03/19/2007
As subprime wholesalers continued to exit the market, strategic moves taken by one company sent its shares soaring, according to coverage from http://www.mortgagedaily.com/ -- the dominant source of online news for the mortgage industry. -- MortgageDaily.com ,Sam Garcia,Dallas TX 03/19/2007
Report Projects Foreclosure Patterns by Year for Adjustable-Rate Mortgages -- The First American Corporation ,Carrie Gaska,,Santa Ana CA 03/19/2007
Leads360`s Newest Product Ensures the Security of Company-Acquired Leads -- New LeadGuardian,Bridget DiRico,Inglewood Calif., 03/19/2007
National mortgage-banking firm Love Funding Corporation today announced the company closed a $2,275,000 loan for Percy Village, a licensed 144-bed adult residential facility located in Los Angeles. Dale Zeigler, vice president with Love Funding`s Seattle office, arranged the 25-year financing. -- Love Funding Corporation,Julie Hauser,Seattle WA 03/19/2007
The Latest DocFinity Version 9 and Add-ons Will Address Multiple Business Needs -- Optical Image Technology, Inc.,Barbara Collins,State College PA 03/19/2007
The Independent Community Bankers of America (ICBA) cheered Wal-Mart`s decision to withdraw its application for federal deposit insurance for a Utah-based industrial loan company (ILC). -- Independent Community Bankers of Am,Karen Tyson,Washington DC 03/19/2007
The 10-year T-note has been unable to break 4.50% in a half-dozen tries over three weeks, the same stopping point as last fall, which in turn has mortgages stuck above 6.00%. Without weak economic data, soon, long-term rates will rise. -- Boulder West Financial,Lou Barnes,Boulder CO 03/19/2007
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