Mortgage Lending October 15, 2008

→   Mortgage Applications Increase In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 10, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 489.3, an increase of 5.1 percent on a seasonally adjusted basis from 465.5 one week earlier. On an unadjusted basis, the Index increased 5.4 percent compared with the previous week and was down 17.0 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  10/15/2008



→   As Fha Loan Volume Soars, Lenders` Access To Fha-ready Mortgage Origination Systems Found To Be Key To Survival
Ellie Mae sees rise from 11% to 35% of FHA loans going through its Encompass LOS -- Ellie Mae Inc.,David Lewis,Pleasanton California  10/15/2008



→   Expert Group, Inc. Expands Mortgage Broker And Telemarketing Staff To Increase Loan Originations
Expert Group, Inc. (Pink Sheets: EXPT) is pleased to announce that the Company has added in-house telemarketers to its retail real estate operation and increased the number of employees in its brokerage division. -- Expert Group, Inc. ,Investor Relations,Miami Fl  10/15/2008



→   Homeowner Advocate Demands Justice For America's Consumer
Ted Krager Blows the Whistle on the Mortgage Industry and Exposes Money-Saving Tactics! -- Ted Krager,Jeannie McLaughlin,Dallas Tx  10/15/2008



→   Homeowners Warned Of Phony Foreclosure Prevention Hotlines
Homeownership Preservation Foundation President Affirms 888-995-HOPE(TM) is the Only official Homeowner's HOPE(TM) Hotline -- Homeownership Preservation Foundation,Sarabeth Patch,Washington Dc  10/15/2008



→   New Credit Card Behavior Study From S&p Highlights Growing Strain On American Consumers
As the downturn in the economy deepens, U.S. credit card users are increasingly having a difficult time managing their personal debt according to the results of a new survey by Standard & Poor's about how American consumers use credit cards to manage personal debt. -- Standard & Poor's ,Ed Sweeney,New York Ny  10/15/2008



→   Former Resolution Trust Corporation Experts Prepare For U.s. Financial Restructuring Effort
USA Recovery Group Prepares to assist the U.S. Department of the Treasury with the Implementation of Congress' $700 Billion Rescue Program -- USA Recovery Group ,Jaime Sisto,Columbus Oh  10/15/2008



→   Nar Urges Passage Of 4-point Housing Stimulus Plan And Return Of Congress For Lame-duck Session
The National Association of Realtors(R) will offer a four-point legislative plan to reinvigorate the housing market, calling on Congress to act during a lame-duck session. NAR believes the plan will give a boost to the economy and help to calm jittery potential homebuyers. -- National Association of Realtors,Lucien Salvant,Washington Dc  10/15/2008



→   Main Street Bailout For The Common Taxpayer
The CFO Advisory Group, Inc. is currently offering a Main Street Bailout package for the common taxpayer. Since the inception of the Federal Reserve Act of 1913, the country's financial system has been heading toward today's debt and credit crash by design. Our current monetary system's never ending need for inescapable indebtedness has reached the end of its exponential curve. We as a society simply cannot produce or trade the required natural resources needed to sustain the system. The total amount of overbearing interest owed by the indebtedness of our society is now larger that the available cash. To keep the current monetary system afloat, the government must forgive a certain amount of institutional debt which will cause enormous shareholder losses. -- The CFO Advisory Group, Inc.,,Benjamin Stanley,Atlanta Ga  10/15/2008



→   1st Reverse Financial Services Continues Retail Expansion - Hires New Eastern Regional Retail Director
1st Reverse Financial Services, LLC (1st Reverse), a subsidiary of Wilmington Savings Fund Society, FSB (WSFS Bank), continues it`s successful reverse mortgage retail expansion with the appointment of Robert Wallace as the Eastern Region Director of Retail Reverse Mortgage Lending. -- 1st Reverse Financial Services, LLC,David Cesario,WESTMONT IL  10/15/2008



→   An Indy Entertainment Powerhouse Partakes In Developing Feature Films
Management Company Enters Pre-Production on Films Early 2009. -- Premier Booking & Management Co.,Rachel Matthews,London UK  10/14/2008



→   Rapid Reporting Announces Employmentchek, The Industry`s First Third-party Employment Verification Using Verbal Verification Of Employment (vvoe) Vvoe Boosts Reliability Of Employment Verifications, Traditionally One Of The Most Difficult And Challenging
Rapid Reporting, an award-winning innovator of income and identity verification products to the mortgage industry, has announced the upcoming release of EmploymentChek, the mortgage industry’s first third-party employment verification service offering verbal verification of employment (VVOE). VVOE picks up where automated employment verification services leave off by providing confirmations that come from live, person-to-person contact with the employer. With EmploymentChek, lenders and brokers can get definitive answers on a borrower’s employment in 24 hours or less, thereby protecting themselves in one of the most challenging aspects of fraud detection. -- Rapid Reporting Verification Company,Ray Pella,Fort Worth Texas  10/14/2008



→   Falling House Prices In August Add Pressure To An Already Volatile Economy Ias360 House Price Index Reports A National Decline Of 0.2% For August
Integrated Asset Services, LLC (IAS, www.iasreo.com), a leader in default management and residential collateral valuation, today released its IAS360 House Price Index for August 2008. The monthly report, which includes the most current and granular data available in the industry, showed a 0.2 % decline in house prices on a national level in August, and an 11.6% decline from August 2007 to August 2008. -- Integrated Asset Services,Inc.,Broker Support,Denver Colorado  10/14/2008



→   Mortgage Builder Sets 10-year Sales Record In August Despite Industry Downturn
Loan Origination Software leader sees lenders increasingly committed to efficiently replacing old, expensive processes -- Mortgage Builder Software Inc,Keven Smith,Southfield Michigan  10/14/2008



→   MBA Reports Multifamily Lending Hit $147.7 Billion In 2007; Leading Lenders Part Of Industry Consolidation
In 2007, 2,739 different multifamily lenders provided a total of more than $147.7 billion in financing for apartment buildings with five or more units, according to a report from the Mortgage Bankers Association (MBA). Lenders closed 48,577 individual loans, with an average loan size of $3 million. The average lender made 18 multifamily loans over the course of the year. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  10/14/2008



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-- Fairway America, LLC,Matthew Raymond,   10/14/2008



→   MBA Comments On Fdic`s Simplification Of The Coverage Rules For Mortgage Servicing Accounts
John A. Courson, Chief Operating Officer of the Mortgage Bankers Association (MBA) issued the following statement after the Federal Deposit Insurance Corporation (FDIC) announced an interim final rule clarifying that deposit accounts maintained by mortgage servicers in escrow for a borrower`s principal and interest payments will be based on the borrower as the owner of the escrow account and not the investor. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia  10/13/2008



→   Statement By Tom Lund Executive Vice President - Single-family Mortgage Business On Fdic Announcement
With the FDIC's announcement today, Fannie Mae (NYSE:FNM) will begin to allow institutions servicing our mortgage-backed securities (MBS) to continue to hold the principal and interest payments from loans in our MBS in eligible depository institutions, thereby freeing additional liquidity for these institutions and the financial system. Recently, Fannie Mae exercised its option to collect the principal and interest on its MBS from certain institutions on a daily basis and place the payments in a trust account to safeguard the funds on behalf of the MBS holders. Given that the FDIC's new policy effectively safeguards these principal and interest payments, we believe collecting the payments daily and holding them in trust may no longer be necessary. We will begin working with our customers to effectuate this change, consistent with our trust agreements and servicing guide. -- Fannie Mae ,Brian Faith,Washington Wa  10/13/2008



→   Partial Tax Exemption Will Unleash The Free Market And Buoy Our Damaged Credit Markets
The following release is being issued by John Blake, Registered Investment Advisor: -- John Blake ,John Blake,Irvine Ca  10/13/2008



→   Acorn Response To Senator Mccain's Smear Ad
ACORN President Maude Hurd released the following statement today in response to the McCain campaign's new ad claiming that, among other things, ACORN is responsible for the mortgage crisis: -- Association of Community Organizations for Reform Now (,Brian Kettenring,Washington Dc  10/13/2008



→   Treasury Statement On Financial Support To The Banking Industry
With continuing exceptional instability in the global financial markets, the Government is today taking decisive action, by implementing the comprehensive set of measures it announced on 8 October, to make commercial investments in UK banks and building societies to help stabilise their position and support the long term strength of the economy. -- Treasury Press Office on ,,London. Uk   10/13/2008



→   Fnc Technology Enables Regulatory Compliance For Vmcs
Now, more than ever, vendor management companies (VMCs) are concerned about being able to prove they're fair and impartial when placing valuation orders, especially in light of recently proposed guidelines designed to further enforce appraiser independence. -- FNC, Inc. ,Bill Dabney,Oxford Ms  10/13/2008



→   MBA Supports Fasb Decision To Adopt Recent Guidance On Fas 157 Into General Accepted Accounting Principles
John A. Courson, Chief Operating Officer of the Mortgage Bankers Association (MBA) issued the following statement regarding today`s decision by the Financial Accounting Standards Board (FASB) to adopt their recent clarification of FAS 157 as part of the body of Generally Accepted Accounting Principles (GAAP), which will allow firms to adjust affected assets to reflect intrinsic values when no active market for a security exists. -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia  10/10/2008



→   Loan Processing And Document Management Software
ATLOS provides Mortgage loan software that is affordable and web-based. Mortgage loan origination software for mortgage brokers and loan orginators. -- Atlos LLC,Atlos,Baton Rouge Louisiana  10/10/2008



→   Gregg & Valby Unveils Mortgage Fulfillment Solutions For Banks
Gregg & Valby Mortgage Services is a transactional cost alternative for community banks, mortgage bankers, and credit unions to increase their loan closing capacity while reducing risk, errors, and overhead costs. -- Gregg & Valby, LLP ,Casey Jones,Houston Tx  10/10/2008



→   Ameridream: There Is A Hole In Congress' Financial Rescue Package
Hole can be filled by reauthorizing downpayment assistance -- AmeriDream ,Henry Fawell,Gaithersburg Md  10/10/2008



→   How And Why The Federal Government Created The Mortgage Meltdown
A New Policy Report by Stan J. Liebowitz Reveals the Causes of the Crisis -- Independent Instit,Wendy Honett,Oakland Ca  10/10/2008



→   Top Real Estate Blunders Avoidable
Buying and selling real estate in today`s tumultuous, highly demanding marketplace is not for the faint of heart. -- The Jenson Group ,Merilee Kern,,Las Vegas Nv  10/10/2008



→   Secureworks Launches Red Flags Consulting Service To Assist Financial Organizations In Developing A Comprehensive Identity Theft Prevention Program
SecureWorks, a leading Security as a Service Provider (SaaS), announced today that it has launched a new Red Flag Consulting Service to assist financial organizations in developing a comprehensive and appropriate Identity Theft Prevention Program in response to the Red Flag Regulations. The deadline to comply with the regulations is November 1st, 2008. The Red Flag Rules dictate that "any person or business who arranges for the extension, renewal or continuation of credit" will be subject to the Red Flag Rules. This includes banks, mortgage lenders, credit unions, utility companies, health care organizations, telecommunications companies, debt collectors, car dealers and many other organizations that fall under this definition. The Red Flag Rules were implemented to ensure that these types of entities have developed and implemented a written "Identity Theft Prevention Program" to detect, prevent and mitigate identity theft in connection with the opening of certain new and existing accounts. -- SecureWorks,Elizabeth W. Clarke,Atlanta Ga  10/10/2008



→   Center For Responsible Lending: Congress Must Address Foreclosures
Now that Congress has passed the $700 billion bailout bill to address the credit crunch, there is an urgent need to address the root causes of today's economic crisis -- massive foreclosures in our communities. Going forward, CRL calls on Congress to act quickly to assist families facing foreclosure. -- Coalition for Responsible Lending,Kathleen Day,Washington Dc  10/10/2008



→   Who's Going To Bailout Small Business?
Government, nonprofit agencies and private corporations set example for big business -- Knowledge Institute,Deborah Osgood,Exeter Nh  10/10/2008



→   Fannie Mae And The Federal Home Loan Bank Of Chicago To Provide Additional Liquidity And Stability To The Mortgage Market
Fannie Mae (NYSE:FNM) and the Federal Home Loan Bank of Chicago today announced a new partnership whereby Fannie Mae will purchase 30- and 15-year fixed rate mortgage loans from the Federal Home Loan Bank of Chicago. -- Fannie Mae,Marilyn Kornfeld,Washington Dc  10/10/2008



→   Freddie Mac Temporarily Suspends Foreclosures In Texas, Louisiana Disaster Areas Hit By Hurricane Ike
Freddie Mac (NYSE:FRE) today announced it is ordering servicers to suspend all foreclosure sales on properties with Freddie Mac-owned mortgages in the federally declared disaster areas caused by Hurricane Ike in Texas and Louisiana. Freddie Mac is one of the nation's largest investors in residential mortgages. -- Freddie Mac,Brad German,Mclean Va  10/10/2008



→   Meta Financial Group Unscathed By Subprime Mortgages; Remains Well Capitalized
Meta Financial Group (NASDAQ:CASH) said today that the Company remains well capitalized by federal regulatory standards and continues to be unscathed by the steep decline in valuations in the national subprime mortgage markets. -- Meta Financial Group ,estor Relations,Storm Lake Iowa  10/10/2008



→   Survey Of Financial Institutions On Credit Crisis
The global financial crisis will lead to radical changes in the structure of the financial services industry with more financial institutions set to fail, according to a survey of financial institutions by international legal practice Norton Rose Group. -- Norton Rose Group,Sean Twomey,London Uk  10/10/2008



→   Faith-based Early Warning System For Investors? Religious Groups Started Sounding Alarm About Subprime Loans 15 Years Ago
ICCR: `Prophetic` Voices of Caution on Lending Started in 1993 - 12 Years Before the Start of General Recognition of Impending Mortgage Foreclosure Crisis; What`s Next? 3 New Problem Issues in Early Stages to Be Highlighted. -- Interfaith Center on Corporate Responsibility,,Patrick Mitchell,,New York Ny  10/10/2008



→   Streetlinks Partners With Mortgage Industry Associations, Mba & Namb
StreetLinks National Appraisal Services has become a Premier Associate Member of the Mortgage Bankers Association and a Bronze Industry Partner of the National Association of Mortgage Brokers. The "MBA" & "NAMB" are the leading national associations representing the best Mortgage Banker & Broker firms in America. -- Streetlinks National Appraisal Services,Brad Summers,Indianapolis In  10/10/2008



→   Hff Arranges $97.5 Million Refinancing For Seven-property Nationwide Industrial Portfolio
The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $97.5 million refinancing for a seven-property industrial portfolio in Florida, New Jersey, Oregon and Texas. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Dallas Tx  10/10/2008



→   String Named One Of America`s 500 Fastest- Growing Private Companies Company Recognized For Significant Growth & Increased Revenue – Ranked #237 On Inc. 500, # 13 In Real Estate Category
String Real Estate Information Services has been named by Inc. magazine as one of the 500 fastest - growing private companies in America. String and its founder, Prashant “PK” Kothari were honored at the 27th Annual Inc. 500 Conference last week (September 18-20, 2008) at the Gaylord National Resort and Convention Center in Washington, D.C. -- String Information Services,Christine Hutt,Washington DC  10/10/2008



→   Why Bad Spending Happens To Good People
There you are basking in the soft, warm glow of department store lighting knowing you should leave. Yet you don`t. The next thing you know your bag is a little heavier, your credit debt is a little deeper and you can`t help thinking: Ugggh, why did I do that?!? -- Talentsmart®,Nick Tasler,   10/10/2008



→   Jude Metcalfe To Lead Newly-formed Retirement Servicing Organization
DST Retirement Solutions, LLC uniquely positioned to help clients meet demands of the retirement plan market -- DST Systems, Inc. ,Jill Patton, Media Relations,Kansas City Mo  10/10/2008



→   New Experian Research Highlights Shifting Consumer Delinquency Trends
Trends may require lenders to change traditionally accepted risk strategies -- Experian ,Cynthia Baker,Costa Mesa Ca  10/10/2008



→   Nada Chairman Urges Prompt Action By Government To Implement Recovery Plan
Sykora: Restoring Access to Credit Will Restore Consumer Confidence -- National Automobile Dealers Association,Ray Portela,Detroit Mi  10/09/2008



→   National City Corporation Lowers Prime Rate To 4.50 Percent
National City Corporation (NYSE:NCC) today announced on behalf of its subsidiary banks that it has lowered its prime rate to 4.50 percent from 5.00 percent, effective immediately. The rate was last changed on April 30, 2008, when National City lowered its prime rate to 5.00 percent from 5.25 percent. -- National City Corporation ,Kristen Baird Adams,Cleveland Oh  10/09/2008



→   Cambridge President Urges Mortgage Re-writes To Save Homeowners
Cambridge Credit Counseling President Christopher Viale announces Home Sweet Home initiative to help avert foreclosures and restore market stability -- Cambridge Credit Counseling Corp.,Thomas Fox,Agawam ma  10/09/2008



→   Mortgage Lenders With Seriously Delinquent And Defaulted Mortgages Have New Option To Tackle Most Difficult Loans
Wingspan Portfolio Advisors launched to turn the most challenging defaulted loans into re-performing assets -- Wingspan Portfolio Advisors,Marketing Department,Carrollton Texas  10/09/2008



→   Love Funding Closes More Than $14 Million In Fha Financing For Seven Different Properties
Recent Deals Demonstrate that Capital is Still Available Amidst Mortgage Turmoil -- Love Funding Corp.,Robyn Cunningham,Washington Dc  10/09/2008



→   HFF arranges $5.85 million financing for 600 Technology Center Drive in Stoughton, Massachusetts
The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged $5.85 million in financing for 600 Technology Center Drive, a 55,397-square-foot, Class A office building in Stoughton, Massachusetts. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Boston Ma  10/09/2008



→   HFF arranges $3.4 million joint venture equity for to-be-built Houston industrial facility
The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged $3.4 million in joint venture equity for a to-be-built industrial facility at Satsuma Station Industrial Park in Houston, Texas. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Houston Tx  10/09/2008



→   HFF secures $18.25 million financing for One Beach Street in San Francisco
The San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured $18.25 million in financing for One Beach Street, a 97,614-square-foot, three-story office building in San Francisco, California. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,San Francisco Ca  10/09/2008



→   Regulatory Counsel Group, Inc. Announces Nationwide Mortgage Licensing System Deadlines
As experts in mortgage licensing and the NMLS system, allow RCG to simplify your licensing process and keep your company in compliance. -- Regulatory Counsel Group, Inc.,Scott Scher,   10/09/2008



→   Industry Leaders to Address Crisis at RMA’s Annual Risk Management Conference
James Rohr, chairman and CEO of The PNC Financial Services Group, Randall Kroszner, member of the Board of Governors of the Federal Reserve, and Mark Zandi, chief economist and cofounder of Moody’s Economy.com to speak at the conference in Baltimore, Maryland, October 18-21, 2008. -- The Risk Management Association,Meg McBride,Philadelphia Pa  10/09/2008



→   KeyBank`s Real Estate Capital Team Stays Ahead of the Curve with Relationship Banking
In a wide-ranging interview in The RMA Journal, KeyBank`s Real Estate Capital team discusses relationship banking, syndications, risk ratings, bubbles, and lessons learned from this and past crises. -- The Risk Management Association,Meg McBride,Philadelphia Pa  10/09/2008



→   Reverse Mortgages Help Seniors Access Cash in Financial Crisis
Senior Lending Network(R), a program of World Alliance Financial Corp. and a leader in reverse mortgages, announced today that despite the downturn in the overall economy, reverse mortgages remain a safe and valuable tool for seniors even as home prices decline and energy costs rise. -- Senior Lending Network ,Mary M. Feder,Melville Ny  10/09/2008



→   Klegg Electronics, Inc. Seeks Acquisition Candidates in the Property Preservation Industry
Company to Expand Business Model -- Klegg Electronics, Inc. ,Investor Relations,Las Vegas   10/09/2008



→   Wachovia, Citigroup, Wells Fargo Agree to Extend Litigation Standstill
Wachovia, Citigroup and Wells Fargo, in consultation with the Federal Reserve, announce the extension until 8 a.m. (EDT), on Friday, Oct. 10, 2008, of their litigation standstill agreement of Oct. 6, 2008. -- Wachovia Corporation,Christy Phillips-Brown,Charlotte Nc  10/09/2008



→   US Treasury Must use Volume-Constrained Auctions
Trade Extensions, procurement software provider and specialist in game theory and auction optimisation, urges the US Treasury to use a volume-constrained auction structure instead of `simultaneous auctions` when buying `Troubled Mortgage-Related Assets`. -- Trade Extensions,Niklas Pettifor,Houston Texas  10/09/2008



→   'HOUSEtrap!': Who Set It? and How to Escape from America's Mortgage and Housing Crisis
Political leaders from the President of the United States, the Chairman of the Federal Reserve, the Treasury Secretary and both Houses of Congress are working frantically to avoid the biggest economic train wreck since the Great Depression. These efforts are the latest in a long line of actions taken to minimize the impact of the mortgage and housing crisis that's driving the entire economy. In his timely book, "HOUSEtrap!," author Daniel Lee uses his expert knowledge from over 22 years in the lending industry to explain why we are in this situation, why none of these efforts will do nearly enough to get us out of it, and what we really need to do to solve the crisis. -- Personal Media Publicist,Daniel R. Lee,Corona Ca  10/09/2008



→   Home Warranty of America Sales Rep Honored as 'Affiliate of the Year' by Chicago Association of Realtors
Home Warranty of America (HWA) announced today that sales rep Liane Luckett has been named "Affiliate of the Year" by the Chicago Association of Realtors. Luckett was given the award, which is in its first year, for her outstanding contributions as an Affiliate Member to the Chicago Association of Realtors and to the Chicagoland real estate industry. -- Home Warranty of America, Inc. ,Liane Luckett,Buffalo Grove Il  10/09/2008



→   FBR Group, Inc. Resolves Status of Agency Mortgage Security
Friedman, Billings, Ramsey Group, Inc. (NYSE:FBR) (FBR Group) issued the following statement this morning: Friedman, Billings, Ramsey Group, Inc. (FBR Group) (NYSE:FBR) has resolved the status of the agency mortgage security under a repurchase agreement with Lehman Brothers, Inc. which was referenced in FBR Group`s press release on Friday, October 3, 2008. FBR Group believes that the costs it will incur in association with the resolution of the matter will be no more than approximately $4 millio -- Friedman, Billings, Ramsey Group, Inc.,Kurt Harrington,Arlington Va  10/09/2008



→   Bankrate: Mortgage Rates Remain Volatile
Mortgage rates fell this week, with the average 30-year fixed mortgage rate dropping to 6.2 percent. According to Bankrate.com`s weekly national survey, the average 30-year fixed mortgage has an average of 0.4 discount and origination points. -- Bankrate,Kayleen Keneally,New York Ny  10/09/2008



→   Webster Lowers Prime Lending Rate to 4.50 Percent
Webster Bank, National Association, a subsidiary of Webster Financial Corporation (NYSE:WBS) , announced today that it has lowered its prime lending rate to 4.50 percent from 5.00 percent effective today. Webster last changed its prime rate on April 30, 2008. -- Webster Financial Corporation ,,Waterbury Ct  10/08/2008



→   Mortgage Lender Residential Finance Corp. Appoints Obiora Egbuna as VP of Sales to Lead Expansion Initiative
With proven track record in managing rapid expansion, Egbuna to develop home mortgage lender’s production team to 550 in 3-year planned expansion -- Residential Finance Corporation,Info,COLUMBUS oh  10/08/2008



→   Statement from Faith Schwartz, Executive Director of the HOPE NOW Alliance, on the Emergency Economic Stability Act of 2008
Hope Now applauds the House for passing the Emergency Economic Stability Act. This legislation sends an important message to homeowners that, like the home lending industry, policymakers want to do everything possible to avoid foreclosures and keep families in their homes. -- HOPE NOW,Kate McGann,   10/08/2008



→   Bailout Gives Government 60 Day Ultimatum to Help Homeowners
The economic bailout package that just passed Congress requires the federal government to come up with a systematic plan over the next 60 days to help homeowners stay in their homes and avoid preventable foreclosures,” said Gibran Nicholas, Chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. “This provision will reduce foreclosures across the country and directly impact all American homeowners.” -- CMPS Institute,Josephine Nicholas,Ann Arbor MI  10/08/2008



→   Comergence™ Partners with BasePoint™ to Improve Risk Detection and Compliance Monitoring
Leverages BasePoint’s renowned fraud analytic expertise -- BasePoint Analytics,Info,CARLSBAD ca  10/08/2008



→   HFF arranges $36 million in financing for 1401 K Street in Washington, D.C.
The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged $36 million in financing for 1401 K Street, a 124,706-square-foot Class A office building in Washington, D.C. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,WASHINGTON dc  10/08/2008



→   MBA Study Shows Mortgage Industry Production Profits Fell Again in 2007
Mortgage companies lost an average of $560 on every loan they originated last year, a drop from the $50 per loan they lost in 2006, according to the Mortgage Bankers Association's (MBA) annual cost study. While loan origination and ancillary fees grew on a per-loan basis, they did not keep pace with increases in production operating expenses, which grew seven percent to $3,663 per loan. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  10/08/2008



→   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 October 3, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 465.5, an increase of 2.2 percent on a seasonally adjusted basis from 455.4 one week earlier. On an unadjusted basis, the Index increased 2.2 percent compared with the previous week and was down 28.6 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  10/08/2008



→   KTGY Principal David Obitz to Speak at Multifamily Executive Conference in Las Vegas on Cost-Effective Ways to Revive Stale Apartment Stock
KTGY Principal David Obitz will be a speaker at the 2008 Multifamily Executive Conference`s session `Born Again: Cost-Effective Ways to Revive Stale Apartment Stock` on October 13 at The Bellagio Hotel in Las Vegas, Nev. Obitz`s entire career has been dedicated to residential housing in every form. He is responsible for the design integrity from conceptual planning and schematic architecture to construction details on various multi-family projects throughout California and leads a team of designers who implement the client`s vision through the many phases of development. -- Monaghan Communications,Anne Monaghan,newport beach California  10/07/2008



→   A Breath of Fresh Air: Change From the Status Quo in Response to Today's Mortgage Crisis
In today's residential mortgage crisis, there's a growing skepticism amongst current and prospective homeowners in the mortgage process -- a skepticism that's rooted in the belief that some mortgage lenders and brokers are only looking out for their own self-interests and not that of their customers'. The prevalent question amongst current and prospective homeowners has become, "Who's looking out for me?" As a former mortgage loan officer who has originated hundreds of mortgages in almost all 50 states, I realize a change is urgently needed in the mortgage industry -- a change that involves educating customers in order to help them avoid making costly mortgage mistakes. -- All Talk Mortgage,Larry Arrow,   10/06/2008



→   Fresh & Easy, Walgreens, Carl`s Jr., Subway and Denny`s to Open at $30 Million The Shoppes at Calimesa in Northern Riverside County
Fresh & Easy, Walgreens (first major drug store to open in Calimesa), Carl`s Jr., Subway and Denny`s to open at The Shoppes at Calimesa in Calimesa, CA. Groundbreaking ceremony slated for Oct. 16 at noon. The $30 million 9.4-acre project, which is located on Calimesa Boulevard at Myrtlewood Drive, will be built in two phases. Phase one is slated to open in May 2009. -- Monaghan Communications,Anne Monaghan,newport beach California  10/06/2008



→   MBA's Courson: Negotiators Need to Regroup, Find Common Ground on Economic Stabilization Package
John A. Courson, Chief Operating Officer of the Mortgage Bankers Association (MBA) today issued the following statement following the House of Representatives' failure to approve HR 3997, the Emergency Economic Stabilization Act of 2008. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia  10/06/2008



→   Hanover Capital Mortgage Holdings Announces Entry Into Definitive Agreement To Merge
Hanover Capital Mortgage Holdings, Inc. (Amex: HCM) (the `Company` or `Hanover`) announced today that on September 30, 2008, it had entered into a definitive agreement to merge with a subsidiary of Walter Industries, Inc. (NYSE: WLT) (`Walter`), a leading producer and exporter of U.S. metallurgical coal for the global steel industry. -- Hanover Capital Partners Ltd.,George Ostendorf,Edison Nj  10/04/2008



→   Lenders One National Alliance of Lenders picks Avista Solutions as first loan origination software partner
Alliance of 125 mortgage lenders levels the loan origination playing field for mid-tier companies -- Avista Solutions,Rosalie Berg,Columbia South Carolina  10/03/2008