Mortgage Lending August 31, 2008
→ $206.99 million in financing secured by HFF for national Class A multifamily portfolio
The Hartford office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it secured first mortgage financing totaling $206.99 million for six Class A multifamily communities throughout the United States. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,HARTFORD ct 08/28/2008
→ HFF arranges debt and equity totaling $46.5 million for Encinitas, California mixed-use development
The San Diego office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a construction loan and joint venture equity for the development of Pacific Station, a Whole-Foods anchored mixed-use project in the northern San Diego city of Encinitas, California. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,SAN DIEGO ca 08/28/2008
→ FORMER HUD SECRETARY CISNEROS CITES HOUSING DECLINE AS UNPRECEDENTED DRAG ON US ECONOMY; CALLS FOR NEW STIMULUS PACKAGE WITH STRONG HOUSING MEASURES
FHLBank San Francisco DNC Forum Releases New Demographic Data on Sub-Prime Borrowers -- The Federal Home Loan Bank of San Francisco,,Denver CO 08/28/2008
→ Mortgage crisis: Blame the bank?
Banks have played a big role in the mortgage crisis, not only because they issued loans to suspect borrowers, but because many originated and sold bad loans to other lenders, says a University of Michigan business professor. -- Bernie DeGroat,Purnanandam,Ann Arbor MI 08/28/2008
→ Capmark® Partners with CampusMBA to Certify
U.S. Commercial Servicing Staff in the United States, Ireland and India -- Mortgage Bankers Association of America,Aleis Stokes,Washington District of Columbia 08/27/2008
→ Advanced Mortgage Planning Training Encourages Standardization and Elevates Professionalism
CMPS Institute is offering its first advanced mortgage training initiative entitled Client LifeCycle™ on October 6-8, 2008 in San Francisco, California. The event will present high level financial knowledge with a theme of taking mortgage professionals through the various stages of a client’s life and identifying suitable mortgage recommendations based on the client’s circumstances. “This is very timely in light of new federal requirements for mortgage bankers and brokers to adhere to higher educational and ethical standards,” said Gibran Nicholas, Chairman of the CMPS Institute. -- CMPS Institute,Josephine Nicholas,ANN ARBOR MI 08/27/2008
→ 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 August 22, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 421.6, an increase of 0.5 percent on a seasonally adjusted basis from 419.3 one week earlier. On an unadjusted basis, the Index decreased 0.9 percent compared with the previous week and was down 31.2 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 08/27/2008
→ Over 2 Million Foreclosures Prevented In Past Year
By Hope Now Alliance Members
Number of homeowners helped in July 2008 sets another monthly record -- HOPE NOW,Kate McGann,Washington DC 08/27/2008
→ Coreland Companies Lands Over 1.5 Million SF in Retail Management Assignments in Southern California
Tustin, Calif.-based Coreland Companies announced that the firm has recently been awarded eight new retail management assignments in Southern California totaling more than 1.5 million square feet including 47th Street Pavilion in Palmdale; Vernola Marketplace in Mira Loma; Talega Village Center in San Clemente; Redlands Town Center in Redlands; Porter Ranch Shopping Center in Los Angeles; Diamond Hills Plaza in Diamond Bar; Mission Plaza in San Fernando; and Centre Pointe Marketplace in Valencia. -- Monaghan Communications,Anne Monaghan,newport beach California 08/26/2008
→ $33.5 million refinance of Back Bay apartments arranged by HFF
The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured a $33.5 million refinancing for St. Germain Apartments, a 207-unit brownstone apartment complex in Boston’s Back Bay neighborhood. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Boston MA 08/26/2008
→ HFF closes bridge financing on behalf of Lone Star Funds
The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged bridge financing for a portfolio of 26 corporate-owned assets of Lone Star Steakhouse & Saloon, Inc. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Dallas tx 08/26/2008
→ LAURA SAULL-SMITH OF LOVE FUNDING’S WASHINGTON D.C. OFFICE SECURES MORE THAN $14.5 MILLION IN FINANCING FOR GOLDEN HORIZONS NURSING HOME
National mortgage banking firm Love Funding today announced that Laura Saull-Smith, Senior Vice President of the firm’s Washington, D.C. office, secured a $10,562,000 Senior Loan and a $4,000,000 Mezzanine Loan to replace an existing 115-bed skilled nursing facility, which is currently located in Erie, Pa. -- Love Funding Corp.,Robyn Cunningham,Washington dc 08/26/2008
→ RealEC Technologies Selected by Flagstar Bank to Provide Automated Appraisal Management Solutions
RealEC Technologies Inc., the mortgage industry's leading provider of collaborative network solutions, today announced it has entered into an agreement with Flagstar Bank for RealEC's suite of appraisal management solutions, which provides greater automation in Flagstar's wholesale and retail channels of origination. -- RealEC Technologies,Information,SANTA ANA ca 08/26/2008
→ MBA: Commercial/Multifamily Mortgage Originations Fall in Q2
CMBS originations hit record low, while GSEs hit record high -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 08/26/2008
→ Mortgage Applications Decrease Slightly In Latest MBA Weekly Survey
-- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 08/26/2008
→ NetMore America Appoints Forward Thinking Mortgage Industry Leader Lisa Schreiber As Chief Strategy Officer
Empowered to define and implement strategy to build the next generation mortgage banker -- NetMore America, Inc. (NetMore),Info,WALLA WALLA wa 08/26/2008
→ HUDSON REALTY CAPITAL PROVIDES $13.95 MILLION BRIDGE LOAN FOR RENOVATION OF MULTI-FAMILY COMPLEX IN NEW ORLEANS
300-Unit Property Damaged By Hurricane Katrina to Be Restored for Occupancy -- Hudson Realty Capital LLC,Info,NEW ORLEANS LA 08/26/2008
→ MBA Releases White Paper Outlining Fundamental Data Management Concepts for the Real Estate Finance Industry
The Mortgage Bankers Association's (MBA) Residential Technology Steering Committee (RESTECH) today released a white paper that details the key fundamental concepts of industry data management, one of the most important components in the mortgage banking process. The goal of the paper is to provide an overview of fundamental strategies for assessing and improving overall data management practices while also providing measurement benchmarks and references. -- Mortgage Bankers Association of America,Aleis Stokes,Washington District of Columbia 08/26/2008
→ MBA Names Brinkmann Chief Economist
The Mortgage Bankers Association today announced that Jay Brinkmann has been named the organization's Chief Economist and Senior Vice President for Research and Economics. Brinkmann has been with the MBA since 2001 and has served as the organization's Vice President of Research for most of that period. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 08/26/2008
→ The Vistas /College Developer, receives $27-million loan through CFO Capital Partners
The Vistas /College Developer, received a $27-million loan through its financial advisor, CFO Capital Partners Who through their Correspondent Relationship has provided financing for a planned 354 unit apartment complex which will include 15,000 sq ft of medical offices. -- ,Carl 292,Kingman Arizona 08/26/2008
→ Mortgage Fraud Reports Jump 42% in US, MARI Finds
Reported incidents of mortgage fraud in the U.S. increased by 42 percent in the first quarter of 2008 from a year ago, according to a new report released today by the Mortgage Asset Research Institute (MARI(SM)), a ChoicePoint(R) (NYSE: CPS) company. The report is based on data submitted by MARI subscribers about loans that were originated in the first quarter of this year and have since been classified as fraudulent. -- Mortgage Asset Research Institute Inc.,Jim Croft,Reston Virginia 08/25/2008
→ ComplianceEase Launches Technology Solutions Together with State Mortgage/Banking Regulators to Automate Regulatory Exams
– Regulators to Set the Standard for the Future of Examinations Through Greater Efficiency and Reduced Time and Costs for Financial Institutions – -- Complianceease,John Vong,Burlingame California 08/25/2008
→ LOAN ORIGINATION REQUESTS REBOUND IN JULY, CAMBRIDGE REALTY CAPITAL REPORTS
Following tepid activity in June, Cambridge Realty Capital Companies reports that the enthusiasm level of prospective senior housing/healthcare borrowers appeared to rebound nicely in July. -- Cambridge Realty Capital Ltd,Debbie Glienke,Chicago Illinois 08/25/2008
→ SearchMyLoan.com Announces Partnership with CMG Mortgage
SearchMyLoan.com (SML), a provider of loan search and pricing services for the mortgage industry, announced a strategic alliance with San Ramon, Calif.-based CMG Mortgage, a national lending firm providing both mortgage banking and mortgage brokerage services. -- SearchMyLoan.com,Info,PORT WASHINGTON NY 08/25/2008
→ Intellidyn Expands Award Winning Lead Incubation Solution, with Cost-per-Funded-Loan Below $100
Lenders use automated, situation-generated and personalized emails to build relationships and convert previously overlooked or cold prospects into funded loans -- Intellidyn.com,Gene Devine,Boston MA 08/25/2008
→ Ace Mortgage Funding Receives Fannie Mae’s Titanium Award
Broker/banker identified as nation’s #1 Desktop Originator user for second year in a row -- Ace Mortgage Funding, Inc.,Information 23393,Indianapolis Indiana 08/25/2008
→ NEW PROGRAM ENSURES THE PROVISION OF UNBIASED ADVICE ON MORTGAGES AND LIABILITIES
Financial Crossing`s Independent Advisor Program promotes ethical lending, offers much-needed tools to optimally manage all of a borrowers` liabilities -- Financial Crossing, Inc.,Info,Palo Alto ca 08/25/2008
→ Parmenter to Acquire $2 Billion in Real Estate
Parmenter Realty Partners is pleased to announce it has successfully deployed all of its capital from Parmenter Realty Fund III and has commenced the marketing of Parmenter Realty Fund IV. -- Parmenter Realty Partners,Adriana Cruz,Mianmi FL 08/25/2008
→ Mortgage Credit News - August 22, 2008
Mortgage rates bottomed again at 6.50%, as they have since May, maintaining a consistently wide spread to the 10-year T-note, likewise bottomed at 3.80%. It will take a substantial negative economic event or news to break below these rates. -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado 08/25/2008
→ Accurate Mortgage Services Inc.
I am Realtor and a Mortgage Broker. For first time home buyers... Now is a time to buy bank owned property…Sellers are eager and rates are still ok. -- Accurate Mortgage Services Inc.,DJ Shah,Weymouth MA 08/22/2008
→ Costa Del Sol property sales on the increase
In recent months we have have seen an increase in property sales volume, after all the doom and gloom that has surrounded the Costa del Sol property market it look`s like the tide is about to turn in our favour. -- Merck Estates SL,Information 28411,Marbella MALAGA 08/21/2008
→ The Risk Management Association and Automated Financial Systems’ Risk Analysis Service Metrics Show Further Deterioration in U.S. Middle Market Credit Quality
The industry’s credit risk benchmark revealed no sign of relief as nonaccruals, delinquencies continue to rise -- The Risk Management Association,Meg McBride,Philadelphia PA 08/19/2008
→ Prime Income Asset Management Purchases Two Prime North Dallas Properties
Stanford Corporate Centre and Telos Fitness Center Purchased -- Prime Income Asset Management,Chris Childress,DALLAS TX 08/19/2008
→ Nationstar Mortgage Selects Overture’s Mozart Decision Engine as it Expands as Prime Retail Lender
Overture Technologies, the mortgage industry’s leading developer of decisioning technology, has announced that Nationstar Mortgage, a mortgage lender headquartered in Dallas, Texas, has selected Overture’s Mozart Decision Engine and Mozart point-of-sale user interface as its direct-to-consumer application intake and enterprise best-fit and automated underwriting decisioning engine for its new retail operations. Nationstar Mortgage has made a major commitment to being a leading prime retail lender, and plans to continue to expand into the market using its centralized lending platform licensed to originate conforming and FHA loans in 47 states nationwide. -- Nationstar Mortgage,Info,Bethesda MD 08/19/2008
→ HUDSON REALTY CAPITAL MAKES WHOLE LOAN PURCHASE OF A $15.1 MILLION FIRST MORTGAGE, SECURED BY MULTIFAMILY COMPLEX IN CARSON CITY, NV
Property is Newly Constructed 132-Unit Complex on 5.29 Acres -- Hudson Realty Capital LLC,Info,CARSON CITY nv 08/19/2008
→ American Home Mortgage Servicing, Inc. Services Approximately 475,000 Loans on Lender Processing Services, Inc.'s MSP
Implements LPS Desktop for Workflow Management -- Lender Processing Services,Michelle Kersch,JACKSONVILLE Fl 08/19/2008
→ LAURA SAULL-SMITH OF LOVE FUNDING’S WASHINGTON D.C. OFFICE SECURES $3,774,600 IN FINANCING FOR WARRIOR RUN MANOR
Love Funding today announced that Laura Saull-Smith, Senior Vice President of the national mortgage-banking firm’s Washington D.C. office, secured a $3,774,600 refinance loan for Warrior Run Manor, located at 1105 Main Street in Watsontown, Delaware Township, Pa. The four-story apartment building facility was built in 1982 on a three-acre parcel of land under the HUD 202 construction/permanent loan program and contains 72 one-bedroom and four two-bedroom units at 506 square feet and 649 square feet, respectively. -- Love Funding Corp.,Robyn Cunningham,Washington dc 08/19/2008
→ TAMMY TATE OF LOVE FUNDING’S KNOXVILLE OFFICE SECURES $2,295,000 IN FINANACING FOR CHARLESTON SQUARE TOWNHOMES
National mortgage banking firm Love Funding today announced that Tammy Tate, Vice President of the Knoxville office, secured a $2,295,000 refinance loan for the Charleston Square Townhomes, an 80-unit multifamily complex in Johnson City, Tenn. The refinancing reduced the borrower’s interest rate from 7.75 percent to 5.79 percent and provided a non-recourse loan and 35-year amortization. -- Love Funding Corp.,Robyn Cunningham,Knoxville tn 08/19/2008
→ HFF arranges $30 million first mortgage for suburban Seattle multifamily community
The Hartford office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $30 million first mortgage financing for Campus Grove Apartments, a 309-unit multifamily community in suburban Seattle, Washington. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,HARTFORD ct 08/19/2008
→ HFF secures $8.8 million financing for Amarillo, Texas multifamily community
The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured an $8.8 million financing for Foxfire Apartments, a 328-unit multifamily community in Amarillo, Texas. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,HOUSTON tx 08/19/2008
→ HFF secures $17.5 million in financing for Dallas area affordable housing communities
The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured $17.5 million in financing for Garden Gate Fort Worth and Garden Gate Plano, two affordable housing communities in Fort Worth and Plano, Texas. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Boston MA 08/19/2008
→ HFFS arranges programmatic joint venture equity, initial funding
for Linchris Hotel Corporation’s acquisition of two Massachusetts hotels -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Boston MA 08/19/2008
→ HFF closes sale and arranges financing for Conifer Crossing in Norcross, Georgia
The Atlanta and Houston offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they closed the sale of and arranged acquisition financing for Conifer Crossing, a 420-unit multifamily community in Norcross, Georgia. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,ATLANTA ga 08/19/2008
→ FICS’ Servicer Solutions Provide Users a Direct Method for Reporting to Ginnie Mae’s Reporting and Feedback System
Financial Industry Computer Systems, Inc. (FICS®), a mortgage technology specialist that provides in-house residential origination and servicing technology and commercial servicing technology to the mortgage industry, announced that its residential mortgage loan servicing system, Mortgage Servicer™ and its commercial mortgage loan servicing system, Commercial Servicer®, now have the ability to report directly to the Government National Mortgage Association (Ginnie Mae) via Ginnie Mae’s new Reporting and Feedback System (RFS). -- FICS Group,Kelly Graham,Dallas TX 08/19/2008
→ Zoot Enterprises Presents Live Webinar on ‘5 Things You Need to Know About Credit Risk in a New Environment’
Overwhelming demand necessitates encore session of an educational panel on strategies for managing changing consumer behavior -- Zoot Enterprises, Inc.,Sales,BOZEMAN MT 08/19/2008
→ Dealing With The Stresses of Today’s Real Estate Industry
Interested in buying some property or a home? There is much fear and anxiety in the real estate industry with people losing their homes and property values decreasing. Enclosed are some techniques on how to maneuver your way through the process of buying a home or property without getting caught up with all of the fear and stress. -- Stanley Popovich,Stanley, 08/18/2008
→ Mortgage Applications Decrease Slightly In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 8, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 425.9, a decrease of 1.5 percent on a seasonally adjusted basis from 432.6 one week earlier. On an unadjusted basis, the Index decreased 2.2 percent compared with the previous week and was down 36.9 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 08/18/2008
→ Mortgage Credit News - August 15, 2008
Mortgage rates are falling, almost 6.50% with the lowest fees. All other interest rates are headed down as well, on glide path parallel to the global economy: the 10-year T-note to 3.83% (traded 4.10% only a week ago), and the 2-year down to 2.37% acknowledges zero probability of a Fed rate hike from its current 2% overnight rate. -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado 08/18/2008
→ ELLIE MAE ADDS FIRST AMERICAN CORELOGIC’S PROPERTY PAK TO ITS ONLINE ENCOMPASS APPRAISAL CENTER
One-stop solution adds accuracy and saves time as appraisers receive detailed appraisal orders and property information online -- Ellie Mae Inc.,David Lewis,Pleasanton California 08/18/2008
→ MBA Study Shows Government-Insured Share of Mortgage Applications for July Tripled in the Past Year
The government-insured share of mortgage applications tripled in the past year according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. Of all mortgage applications accepted during the month of July 2008, 29.1 percent were for government-insured loans (consisting of mostly FHA loans) compared to 8.4 percent in July 2007. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 08/18/2008
→ How the ins and outs of Commercial finance may affect you
A commercial mortgage is sometimes known as a business mortgage is a loan that is secured using a business property. -- Amicable Mortgage Services,Information,Soton HANTS 08/16/2008
→ The hazards of a poor credit mortgage
Some lenders can charge high interest rates for a bad credit mortgage, or attach severe restrictions and penalties. -- Amicable Mortgage Services,Information,Soton HANTS 08/16/2008
→ Is Commercial Buy to Let a Shrewd Investment
A commercial mortgage or buy to let mortgage is one where more than 40% of the total property will be used for commercial purposes. Over the last few years there has been an explosion in buying properties to let or rent. -- Amicable Mortgage Services,Information,Soton HANTS 08/16/2008
→ Hanley Investment Group Sells Three Shopping Centers Totaling Nearly $17 Million
Hanley Investment Group Real Estate Advisors negotiated the sale of three multi-tenant shopping centers in Arizona and Southern California for a total consideration of $16,575,000. The properties are located in Mesa, Ariz. and Riverside and Victorville, Calif. -- Monaghan Communications,Anne Monaghan,Newport Beach California 08/12/2008