MMag Mortgage Lending October 31, 2007

• U.S. Oct consumer confidence lowest in two years
U.S. consumer confidence continued to slide in October, the Conference Board said Tuesday, hitting its lowest level since October 2005 after Hurricane Katrina hit -- MarketWatch,Ruth Mantell,Washington 10/30/2007

• HFF secures $20 million first mortgage financing for Parsippany, New Jersey office building
The Hartford office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured $20 million in first mortgage financing for 9 Entin Road, a 196,894-square-foot office building in Parsippany, New Jersey. -- Holliday Fenoglio Fowler, L.P.,LAURIE FISH MCDOWELL,Hartford CT 10/29/2007

• CampusMBA Launches Certified Loan Officer Designation
Program Requires Designees to Adhere to Strict Code of Ethics -- MBA,Aleis Stokes,Washington DC 10/25/2007

• Consumer Groups Rally Around Regulator`s Proposed Rate Freeze on Risky Mortgages
Four nationally recognized community reinvestment groups roundly commended the proposal of Federal Deposit Insurance Corporation chairwoman Sheila C. Bair to freeze so-called "hybrid" mortgages at the introductory rate. -- California Reinvestment Coalition,Alan Fisher,San Francisco CA 10/24/2007

• Americas Watchdog Warns All Homeowners About `No Cost/No Point Mortgages`
Americas Watchdog is one of the most quoted sources in the United States about residential mortgages and or predatory mortgage lending, and they are warning all US consumers to avoid slick advertising gimmicks from mortgage lenders or banks that profess to offer homeowners mortgages with no points, no fees, no costs or 1% interest rates. According to Americas Watchdog; "there is no such thing as a free mortgage, even though consumers are being led to believe that such a thing exists". -- Americas Watchdog,THOMAS MARTIN, 10/24/2007

• Biggest Mortgage Lenders
A preliminary analysis of third quarter earnings data indicates residential mortgage originations fell 19.19 percent from the second quarter, according to http://www.mortgagedaily.com/ -- a dominant source of online news for the mortgage industry. -- MortgageDaily.com,Shaun Bartlett,Dallas TX 10/24/2007

• `Keeping Your Home,` New Online Course Designed to Help Homeowners Nationwide Avoid Foreclosure, Now Available at CCCSInc.org
Site Offers Online "Chat" With Counselors 24 Hours a Day -- CCCS of Greater Atlanta:,Scott Scredon,Atlanta GA 10/24/2007

• CalCORP Mortgage Program Educates Californians to Avoid Foreclosures
Among the top 10 metro areas with the largest number of foreclosure filings are six California cities. Merced topped the list followed by Modesto, Stockton, Riverside-San Bernardino, Vallejo-Fairfield, and Sacramento. -- CalCORP Mortgage,,Los Angeles CA 10/24/2007

• Mortgage Reform Bill Offered by Congressman Frank Would Provide Cities Some Relief
Cities being hit hard by foreclosures and predatory lending would see some relief from a bill introduced today by House Finance Chairman Barney Frank (D-Mass.), according to the National League of Cities (NLC). The bill, "The Mortgage Reform and Anti-Predatory Lending Act of 2007", would increase consumer protections and prohibit predatory lending practices through a variety of new requirements. -- National League of Cities,Sherry Conway Appel,Washington WA 10/24/2007

• News Alert for: Freddie Mac
-- Freddie Mac,,Mcclean VA 10/24/2007

• News Alert for: Fannie Mae
-- Fannie Mae,,Washington DC 10/24/2007

• Wells Fargo Offers Support to Customers Impacted by Southern California Wildfires
Wells Fargo & Co. (NYSE:WFC) said today it is offering case-by-case assistance through the recovery process to help its customers in Southern California who have been affected by the wildfires. -- Wells Fargo & Co.,Jennifer Langan,Los Angeles CA 10/24/2007

• Credit Market Turmoil to Continue According to Financial Professionals
AFP Members Say Companies Already Feeling Credit Crunch -- Association for Financial Professio,Billy Treger,Boston MA 10/24/2007

• Governor Granholm Announces Toll-Free Number to Help Families Facing Mortgage Foreclosure
`Save the Dream` campaign toll-free number is 866-946-7432 -- Michigan State Housing Development ,Mary Lou Keenon,Lansing MI 10/24/2007

• CAMBRIDGE SAYS LOAN ORIGINATION REQUESTS TOP $4.8 BILLION THROUGH FIRST THREE QUARTERS OF 2007
Cambridge Realty Capital Companies, one of the nations leading senior housing/healthcare lenders, reports receiving 380 origination requests for loans totaling $4.8 billion through the first three quarters of 2007. -- Cambridge Realty Capital Companies,,Evan Washington,New York NY 10/24/2007

• New Findings in Preventing Latino Home Foreclosures
CHCI, Neighborworks(R) America to Present Results of National Focus Groups Senator Bob Menendez, Reps. Joe Baca, Albio Sires to Participate -- Congressional Hispanic Caucus Insti,Scott Gunderson Rosa,Washington DC 10/24/2007

• FiSCA and PRBC Launch Partnership to Help Low and Moderate Income Consumers Build Credit
The Financial Service Centers of America (FiSCA) and PRBC (Payment Reporting Builds Credit) today announced a groundbreaking partnership through which FiSCA members can offer the Payment Reporting Builds Credit(R) service to their customers. -- The Financial Service Centers of Am,Stephen Altobelli,Hackensack NJ 10/24/2007

• United First Financial Educates Brokers on the Best Ways to Work through the Current Market Crunch
In an ongoing effort to assist and educate mortgage brokers during the current liquidity crisis, United First Financial (UFirst Financial) announced today the locations for their ten city seminar tour. The Company s seminars are designed to arm mortgage brokers with additional solutions to provide their borrowers during the current credit crunch. The free half-day events feature top industry speakers, including Barry Habib, CEO of Mortgage Market Guide and Sue Woodard, Vice President, Mortgage Market Guide. -- United First Financial,Leslie Baran,Salt Lake City UT 10/24/2007

• Express Debt Settlement Holdings, Inc. Announces Net Branch Opportunity in USA
Express Debt Settlement Holdings, Inc. is a Coral Springs, FL area company focused on helping consumers resolve their unsecured debt. The company currently provides its debt settlement consulting services and expert analysis in 25 USA states maintaining a dominant presence in the debt settlement industry and runs a corporate website at http://www.expressdebt.net offering online debt help. -- Express Debt Settlement Holdings, I,Lenny Beir,Coral Springs FL 10/24/2007

• Intellidyn Debuts First Marketing Models to Target Highly-Qualified FHA Homeowners
Models enable FHA loan originators to pinpoint marketing programs to renters and homeowners most likely to respond and qualify for FHA loans -- Intellidyn Corp.,Grace Dunklee Cohen,Boston MA 10/24/2007

• ARM Reset Leads from Dataman Group - Brand New Marketing Option
Dataman Group s ARM Reset Leads lets you reach Adjustable Rate Mortgage Holders who are facing a change in their mortgage payment in the coming months. We can target the exact day in which their Interest Rates will increase so you can contact them before they face a financial crisis. -- Dataman Group Direct Mail & Telemar,Dale Filhaber,Boca Raton FL 10/24/2007

• MyHomeAssets! Software Receives Mortgage Industry 1003 PA Certification
Software is First to Obtain Certification from the 1003PA Standards Alliance for Producing Standard Mortgage Lending Reports and Files. -- MyHomeAssets! Software,Jason Williams,Bend OR 10/24/2007

• Joint Statement by Consumer, Civil Rights, and Advocacy Groups Re: H.R. 3915
"We commend Chairman Frank and Representatives Watt and Miller for taking the lead in addressing the underlying problems that have led to the escalating foreclosure crisis in this country. Banning prepayment penalties in the subprime mortgage market, requiring lenders to assess each borrower`s ability to repay, and eliminating the bonuses lenders now pay to brokers to put people in more expensive loans than those for which they qualify would go a long way to protecting families from the deceptive and abusive loans that ultimately lead to a decline in home ownership. -- Center for Responsible Lending,Kathleen Day,Washington DC 10/24/2007

• Mortgage Availability Improving But Hampered September Existing-Home Sales
Temporary problems in the mortgage market are easing and are expected to free some pent-up demand, but disrupted existing-home sales and distorted prices on sales closed in September, according to the National Association of Realtors(R). Even so, prices rose in the Northeast and Midwest. -- National Association of Realtors,Walter Molony,Washington DC 10/24/2007

• Foreclosure.Com Partners with Indymac Bank to Help Lender Market and Sell REO Listings
Prominent financial institution turns to America`s largest and most reliable provider of distressed real estate listings to move REO inventory fast -- Foreclosure.com,Glen Daniels,Boca Raton FL 10/24/2007

• EverBank Wholesale Lending Hires New Account Executives
EverBank welcomes three new Account Executives to its Hartford Wholesale Lending office -- offering residential first, second, portfolio arms, government and jumbo mortgage loans throughout the Hartford metropolitan area. -- EverBank,Peter Robbio,Hartford CT 10/24/2007

• MBA Statement on Frank Anti-Predatory Lending Bill
Kurt Pfotenhauer, Senior Vice President for Government Affairs and Public Policy at the Mortgage Bankers Association (MBA) issued the following statement in response to legislation introduced today by House Financial Services Committee Chairman Barney Frank to reform the mortgage market and help combat predatory lending. -- MBA,John Mechem,Washington DC 10/24/2007

• Inland Mortgage CAPITAL Corporation FUNDS $22.75 MILLION LOAN FOR manhattan Hotel and Condominium
Inland Mortgage Capital Corporation has funded a $22.75 million loan for the acquisition and pre-development costs for a planned hotel and condominium building on Fifth Avenue in New York City. The building, located at 241 Fifth Avenue, at the cross of East 27th and East 28th streets, will house 106 hotel rooms and 15 condominiums, with a combined area of 68,000 square feet. -- Inland Mortgage Capital Corporation,Darryl Cater,Oak Brook IL 10/24/2007

• MBA`s Senior Vice President Kurt Pfotenhauer Testifies On H.R. 3915 -- The Mortgage Reform and Anti-Predatory Lending Act of 2007
Kurt Pfotenhauer, Senior Vice President of Government Affairs and Public Policy for the Mortgage Bankers Association (MBA) testified today before the House Committee on Financial Services on H.R. 3915, The Mortgage Reform and Anti-Predatory Lending Act of 2007. -- MBA,John Mechem,Washington DC 10/24/2007

• Refinance Applications Increase In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 19, 2007. -- MBA,John Mechem,Washington DC 10/24/2007

• MBA Praises Banking Committee for Moving Important Legislation
The Mortgage Bankers Association (MBA) today praises the Senate Banking, Housing and Urban Affairs Committee for passing two important bills -- the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA) by a vote of 20-1 and the reauthorization of the National Flood Insurance Program (NFIP) by unanimous vote. -- MBA,Jason Vasquez,Washington DC 10/22/2007

• HFF arranges $47 million refinancing for Parsippany, New Jersey Class A office building
The New Jersey and New York offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they arranged a $47 million refinancing for 100 Kimball Drive, a 175,000-square-foot Class A office building in Parsippany, New Jersey. -- HFF,JON MIKULA,Florham Park NJ 10/22/2007

• Philly Fed shows slower growth in October
Factory activity in the Philadelphia region increased at a slightly slower pace in October, the Federal Reserve Bank of Philadelphia reported Thursday. -- MarketWatch,Rex Nutting,Washington 10/22/2007

• MBA Strongly Opposes HUD`s Increase in Mortgage Insurance Premiums
Recent action by the US Department of Housing and Urban Development (HUD) to increase the mortgage insurance premium (MIP) on most new Federal Housing Administration (FHA) multifamily mortgages drew sharp criticism from the Mortgage Bankers Association (MBA) leadership. According to MBA, the decision by HUD will force many developments to become economically infeasible. -- MBA,Jason Vasquez,Washington DC 10/22/2007

• ICBA and Fannie Mae Renew Partnership
Relationship Provides New and Enhanced Benefits to Community Bankers -- ICBA Mortgage,Karen Tyson,Washington DC 10/22/2007

• MBA Welcomes Introduction of Coleman Delinquency Relief Bill
The Mortgage Bankers Association (MBA) applauded legislation introduced today to assist delinquent mortgage borrowers. S. 2201, The Home Ownership Mortgage Emergency Act, was introduced by U.S. Senator Norm Coleman (R-MN) and would allow troubled borrowers to make penalty-free withdrawals from their retirement accounts in order to bring their home loan current. -- MBA,John Mechem,Washington DC 10/22/2007

• National Foundation for Credit Counseling Honors Credit Counselor For Commitment and Dedication to Helping Others
In recognition of her hard work, determination, and dedication, the National Foundation for Credit Counseling (NFCC) honored Julie Zachariason of Lutheran Social Service of Minnesota/Consumer Credit Counseling of Duluth with its Outstanding Individual Counselor Award at its 42st Annual Leaders Conference held in Portland, OR. -- National Foundation for Credit Coun,Nick Jacobs,Silver Spring MD 10/22/2007

• Mortgage Credit News - October 19, 2007
All U.S. interest rates have broken lower. The mortgage-defining 10-year T-note is trading 4.40%, down from 4.70% last week, but mortgages will be slow to follow. Even Agency loans are stuck in credit fear, but are likely to approach 6.00% soon. -- Boulder West,Lou Barnes,Boulder CO 10/22/2007

• MBA Study Shows Mortgage Industry Production Profits Fell in 2006
Mortgage banking production profits fell to negative $50 per loan in 2006 from positive $258 per loan in 2005, according to the Mortgage Bankers Association`s (MBA) annual cost study. While production revenues increased on a per-loan basis, this increase did not keep pace with the increase in production operating expenses which grew by 17 percent to $3,416 per loan in 2006. -- MBA,John Mechem,Washington DC 10/22/2007

• RealEC Technologies, Inc. Selected by RBC Centura Bank to Provide Automated Settlement Services and Vendor Management Solutions
RealEC Technologies Inc., the leading provider of collaborative network solutions in the mortgage industry, today announced it has entered into an agreement with RBC Centura Bank, a wholly owned subsidiary of Royal Bank of Canada, to provide RBC Centura with RealEC`s suite of settlement service order and vendor management solutions. -- RealEC Technologies,Darcy Patch,Santa Ana CA 10/17/2007

• HEALTHCARE BORROWERS EMERGE AS WINNERS IN CURRENT CREDIT CRISIS, EXPERT BELIEVES
Investors and consumers are still feeling pretty good about the Federal Reserve Boards dramatic decision to lop half a percentage point off the federal funds rate in September, and arent likely to experience much of a mood swing even if the central bank chooses to not to slash rates even more when the Federal Open Market Committee meets at the end of October. -- Cambridge Realty Capital Companies,Evan Washington, 10/17/2007

• Economy Will Continue to Slow, 2008 Originations Down 18% from 2007, According to Latest MBA Forecast
Economic growth will continue to slow through the rest of 2007 but should return to near normal growth during the 2nd half of 2008 and into 2009, according to the latest economic forecast released today by the Mortgage Bankers Association -- MBA,John Mechem,Washington DC 10/17/2007

• MBA Releases eMortgage White Paper Addressing Security Interests in eNotes and the Rights of Warehouse Lenders
In the ongoing effort to pave the way for the widespread use of electronic records in mortgage transactions, the MBA`s eMortgage Adoption Task Force (a subgroup of the Residential Technology Steering Committee) has published a new white paper focusing on the warehouse lending process. -- MBA,Aleis Stokes,Boston MA 10/17/2007

• Fidelity National Information Services and Compass Analytics to Deliver Prepayment Models
Fidelity National Information Services, Inc. (FIS) and Compass Analytics, LLC today announced the successful integration of FIS` Applied Analytics prepayment model into Compass Analytics` mortgage analytics solution, CompassPointTM. -- Fidelity National Information Servi,Darcy Patch,Jacksonville FL 10/17/2007

• MBA Applauds Proposed Extension of TRIA By Senate Banking Committee
The Mortgage Bankers Association (MBA) commends action of the Senate Banking Committee, under the stewardship of Chairman Christopher Dodd (D-CT) and Ranking Member Richard Shelby (R-AL), on proposed legislation to extend the Terrorism Risk Insurance Act (TRIA) for seven years. -- MBA,Jason Vasquez,Washington DC 10/17/2007

• MBA Announces Corporate Diversity Leadership Awards
National Cooperative Bank and First American Mortgage Information Services` Barry Sando Recognized -- MBA,Aleis Stokes,Boston MA 10/17/2007

• Mortgage Applications Increase Slightly In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 12, 2007. This week`s results include an adjustment to account for the Columbus Day holiday. The Market Composite Index, a measure of mortgage loan application volume, was 656.3, an increase of 0.7 percent on a seasonally adjusted basis from 652.0 one week earlier. On an unadjusted basis, the Index decreased 9.3 percent compared with the previous week and was up 0.7 percent compared with the same week one year earlier. -- MBA,John Mechem,Washington DC 10/17/2007

• FINANCIAL INSTITUTIONS MUST BALANCE FLEXIBILITY AND CONTROL WHEN IMPLEMENTING BUSINESS RULES MANAGEMENT SYSTEMS
New TowerGroup Analyst in Consumer Lending Practice Examines Benefits of Business Rules Governance -- TowerGroup,Jorge Lavina,Needham MA 10/15/2007