Mortgage Lending Edition November 30, 2011

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Mortgage Lending November 30, 2011


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Central Bank Moves to Aid Europe Lift Industry Stocks

Fannie Mae acquired $58.4 billion of mortgages from its seller/servicers in October, its best purchase month since January and a sign that low rates are starting to spur new activity in the primary ma -- NMN,Admin,New York NY  11/30/2011

Survey: Homeowners Threatened by Lower Home Prices

Members of the Mortgage Insurance Companies of America have developed a new loan workout template that helps address problems between a servicer and mortgage insurer when settling a borrower's loa -- NMN,Admin,New York NY  11/30/2011

MI Companies Adopt Reporting Template for Servicer Workout Information

Credit risk managers expect consumers will have trouble making payments on a variety of loan types, according to the European Credit Risk Survey taken by FICO and Efma. -- NMN,Admin,New York NY  11/30/2011

Credit Risk Managers Predict Higher Mortgage Delinquencies

With over two million vacant properties throughout the country available for a prospective buyer to purchase, it is important for financial institutions to distinguish their distressed homes from the -- NMN,Admin,New York NY  11/30/2011

Conducting Repair Work to Stabilize Distressed Markets

-- NMN,Admin,New York NY  11/30/2011

100 Mortgage Hires for BBVA

The American Legion is calling on Congress to extend the $729,750 loan limit on Department of Veterans Affairs guaranteed loans before the ceiling drops down to $625,500 on January 1. -- NMN,Admin,New York NY  11/30/2011

Surprise: Pending Home Sales Jump

Fannie Mae acquired $58.4 billion of mortgages from its seller/servicers in October, its best purchase month since January and a sign that low rates are starting to spur new activity in the primary ma -- NMN,Admin,New York NY  11/30/2011

A Bright Spot: Fannie Loan Purchases Gain Strength

The mortgage industry is packed with folks who were probably high school kids who didn't start studying until the night before an exam. While it's possible to get a decent grade with last minu -- NMN,Admin,New York NY  11/30/2011

New Social Media Platform Includes Compliance Checks

The American Legion is calling on Congress to extend the $729,750 loan limit on Department of Veterans Affairs guaranteed loans before the ceiling drops down to $625,500 on January 1. -- NMN,Admin,New York NY  11/30/2011

Pressure to Preserve VA Loan Limits

The mortgage industry is packed with folks who were probably high school kids who didn't start studying until the night before an exam. While it's possible to get a decent grade with last minu -- NMN,Admin,New York NY  11/30/2011

UCDP Compliance: Don`t Wait Too Long

-- NMN,Admin,New York NY  11/30/2011

Home Sales Contract Signings Surge 10.4 in October

According to the National Association of Realtors (NAR) Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, pending home sales surged 10.4 percent to 93. -- NationalMortgageProfessional.com,NMP Media Services,   11/30/2011

QMS to Begin Offering Third-Party MERS Audits

Quality Mortgage Services LLC (QMS) has announced that the company is now offering third-party Mortgage Electronic Registration Systems Inc. (MERS) audits as required by MERS Training Bullet -- NationalMortgageProfessional.com,NMP Media Services,   11/30/2011

The SAFE Act: The Destruction of Small Businesses That No One Acknowledges

Thousands of small businessmen and women have been, or are in the process of being put out of business by the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act). The California Departme -- NationalMortgageProfessional.com,NMP Media Services,   11/30/2011

AllRegs and Total Learning Solutions Join Forces on FHA Training

The Federal Housing Administration (FHA) has awarded Total Learning Solutions (TLS) with a contract to provide nationwide technical assistance training to its business and industry partners. AllRegs I -- NationalMortgageProfessional.com,NMP Media Services,   11/30/2011

Purchases Drop 33.7 Percent in Holiday-Shortened Week

Mortgage Applications Decrease in Latest MBA Weekly SurveyClick to continue -- NationalMortgageProfessional.com,NMP Media Services,   11/30/2011

Pending Sales Increase May Point to Budding Market Recovery

The National Association of Realtors' (NAR) pending home sales index reported strong positive movement over the month of October, rising 10.4 percent from September. The index, which measures sale -- DSNews.com,Admin,   11/30/2011

Butler and Hosch Welcomes Three to Its Team

The mortgage banking law firm of Butler and Hosch, P.A. has announced the appointments of Christopher L. Carman as managing attorney, Shawn Berry as litigation attorney, and Brian Gensler as SVP of ve -- DSNews.com,Admin,   11/30/2011

Fiserv Prepares Mortgage Servicers for Changes to Bankruptcy Rules

In conjunction with the changes to the Federal Rules of Bankruptcy Procedure (FRBP) which go into effect on December 1, Fiserv, Inc. announced Wednesday that its LoanServ solution offers the capabilit -- DSNews.com,Admin,   11/30/2011

Congress Calls for Principal Reductions from GSEs

Twenty-one members of congress sent a letter to Federal Housing Finance Agency (FHFA) Acting Director Edward DeMarco urging him to encourage principal reductions on loans backed by Fannie Mae and Fred -- DSNews.com,Admin,   11/30/2011

FHA Gears Up for Claims, But Will Capital Hold Out?

October was the second best month of the year for the private mortgage insurers in terms of applications received, but the third worst in terms of the cure/default ratio, according to the Mortgage Ins -- NMN,Admin,New York NY  11/30/2011

NCUA Sues Wachovia Over Corporate Investments

-- NMN,Admin,New York NY  11/30/2011

California REO, Short Sale Transactions Climb in October

October was the second best month of the year for the private mortgage insurers in terms of applications received, but the third worst in terms of the cure/default ratio, according to the Mortgage Ins -- NMN,Admin,New York NY  11/30/2011

PMI Lists $737 Million of Unsecured Debt in Bankruptcy Filing

Application volume fell by 11.7% on a seasonally adjusted basis for the week ended Nov. 25, with the data adjusted to take into account Thanksgiving, according to the Mortgage Bankers Association. -- NMN,Admin,New York NY  11/30/2011

Another Drop for Mortgage Apps, Refis

The annual retirement survey conducted by Wells Fargo & Co. found that 76% of middle class Americans said it is important to have a specific amount of money saved before retirement, while only 20% sai -- NMN,Admin,New York NY  11/30/2011

Survey: Most Americans Plan to Work Until Able to Afford Retirement

Eastern Mortgage Capital, Boston, has issued a $5.1 million mortgage loan for a 117-unit affordable elderly housing facility in St. Louis. -- NMN,Admin,New York NY  11/30/2011

Boston Lender Funds Affordable Senior Housing Loan

October was the second best month of the year for the private mortgage insurers in terms of applications received, but the third worst in terms of the cure/default ratio, according to the Mortgage Ins -- NMN,Admin,New York NY  11/30/2011

MI Cure Ratio Declines

-- NMN,Admin,New York NY  11/30/2011

Consultants Told to Focus on Foreclosure Abuses of Servicemembers

The House Financial Services Committee is asking the new Consumer Financial Protection Bureau for a detailed account of its spending to date, and plans for funds it has received but not yet spent. -- NMN,Admin,New York NY  11/30/2011

House Panel Requests CFPB Spending Data

The Federal Housing Finance Agency has recruited two veterans of the Federal Reserve Board to fill key agency posts. -- NMN,Admin,New York NY  11/30/2011

FHFA Names Its First Full-Time COO

-- NMN,Admin,New York NY  11/30/2011

FHFA Fills COO and Senior Examiner Roles

Edward DeMarco, acting director of the Federal Housing Finance Agency (FHFA), has announced the appointments of Richard B. Hornsby, as FHFA's COO and Jon Greenlee as the agency's deputy direct -- DSNews.com,Admin,   11/30/2011

Pardee`s Hampton Lane Offers Exceptional Indoor-Outdoor Living; New Homes Now with Andersen Gliding Patio Doors

SAN DIEGO, CA, November 30, 2011 /24-7PressRelease/ -- Courtyard homes are an appealing choice for home shoppers who want unique outdoor living spaces without the responsibility for a big yard, and no -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

Millions of Sutter Health Patients Affected by Security Breach; Two Sacramento Consumer Rights Firms File Suit

SACRAMENTO, CA, November 30, 2011 /24-7PressRelease/ -- Last week, Sutter Health announced that the data of over four million of its patients was compromised. The breach reportedly occurred last month -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

eCommerce Solutions Provider Jagged Peak Appoints Albert Narvades As Chief Financial Officer

TAMPA, FL, November 30, 2011 /24-7PressRelease/ -- Jagged Peak, Inc. (OTC BB: JGPK), a leading provider of enterprise-class eCommerce solutions and supply chain services, announced today that Albert N -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

Industry Leading Provider of Server Rack Products Releases Expanded Product Catalog for IT and Telecom Professionals

MANSFIELD, TX, November 30, 2011 /24-7PressRelease/ -- With data centers around the world having an increased responsibility to address growing network intrusion risks as well as minimize their energy -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

TechniTrader: Virtual Workshop!

AUBURN, WA, November 30, 2011 /24-7PressRelease/ -- Join Martha for an interactive training session to discuss where the next big moves will occur in the Cloud industry! Final week to register! -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

Payroll in a Few Clicks: EzPaycheck Payroll Software 2011+2012 Combo for Small Businesses

LOUISVILLE, KY, November 30, 2011 /24-7PressRelease/ -- "We realize that businesses who plan to automate payroll in 2012 want to get acquainted with ezPaycheck payroll software now, but they don` -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

FAQs of Divorce by Richard T. Bell, Sugar Land, Texas Attorney

SUGAR LAND, TX, November 30, 2011 /24-7PressRelease/ -- Valuation of a Homemaker`s Contributions to the Marriage and Family -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

Effects of Bankruptcy Not So Bad For Employed -- Unemployed in Tennessee

November 30, 2011 /24-7PressRelease/ -- Most people contemplating bankruptcy are concerned about the long-term effect of filing bankruptcy. People struggling with debt problems in Nashville often wond -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

Fired Cancer Patient`s Award Affirms Disability Protections in California

November 30, 2011 /24-7PressRelease/ -- When a California regional sales manager had to cut back traveling for his job as he recovered from cancer-related surgery, his employer fired him, citing poor -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

Surrendering a House in Bankruptcy

November 30, 2011 /24-7PressRelease/ -- Often one of the reasons that people choose to file bankruptcy is that they are facing foreclosure and want to save their home. Bankruptcy can be filed to stop -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

A Buyout Agreement, Also Called a `Buy-Sell Agreement,` is a Contract Between Shareholders or Partners in a Business

IRVING, TX, November 30, 2011 /24-7PressRelease/ -- A buyout agreement, also called a "buy-sell agreement," is a contract between shareholders or partners in a business. It prevents unwanted -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

W. Winston Briggs Law Firm Sponsors 2011 Aptalis CF Cycle For Life

ATLANTA, GA, November 30, 2011 /24-7PressRelease/ -- For the second year in a row, the W. Winston Briggs Law Firm was a proud sponsor of the Aptalis CF Cycle for Life benefiting cystic fibrosis resear -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

Northern Rock Honoured for its Community Service

NEWCASTLE, ENGLAND, November 30, 2011 /24-7PressRelease/ -- Northern Rock has announced that it was commended in the Mortgage Finance Gazette Awards for its dedication to community service. The honour -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

Northern Rock Video Investigates Money Worries

NEWCASTLE, ENGLAND, November 30, 2011 /24-7PressRelease/ -- Northern Rock`s latest video has put consumers in the spotlight as they reveal that by far their biggest money worry is paying the mortgage -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

Get New Year Cash Upfront With Santander`s New Upfront Interest Savings Bond

LONDON, ENGLAND, November 30, 2011 /24-7PressRelease/ -- Upfront interest savings bonds introduced by Santander. -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

Geneva Charity Ball 2011 Raises GBP52,000

BIRKIRKARA, MALTA, November 30, 2011 /24-7PressRelease/ -- Not only were there more than 500 glamorous guests at the city`s flagship Inter-Continental Hotel on Friday 18th November, there were more th -- 24/7 Press Release Newswire,24/7 Media,   11/30/2011

FHFA Reports Q3 Home Prices Rising 0.2 Percent Nationwide

Home prices in the United States rose in the third quarter of 2011, according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted purchase-only house price index (HPI). The HP -- NationalMortgageProfessional.com,NMP Media Services,   11/30/2011

S&P/Case-Shiller Sees Home Prices Sputtering Into Q4 and Experience Insignificant Quarterly Change

Data through September 2011, released by S&P Indices for its S&P/Case-Shiller Home Price Indices, shows that nationwide, home prices did not register a significant change in the thir -- NationalMortgageProfessional.com,NMP Media Services,   11/30/2011

A `Black Friday` Frenzy Type of REO Marketing Approach

Radian Guaranty is seeking waivers in 12 states of risk-to-capital requirements, even though it does have $600 million in capital at the parent company level available to downstream to the mortgage in -- NMN,Admin,New York NY  11/29/2011

FICO Emphasizes Customer-Led Recovery Need

The recurring theme of financial literacy may be old, but it keeps pushing itself forward and into the agenda of mortgage lenders and servicers as banks struggle to understand their borrowers' fin -- NMN,Admin,New York NY  11/29/2011

Insider Calls for Early Spotlight Into Financial Literacy

The first recently originated private-label/jumbo securitization to hit the market since 2008 shows a deal of this type can be issued despite today's uncertain regulatory environment, but in such -- NMN,Admin,New York NY  11/29/2011

Fitch U.S/GSE Outlook Change Could Affect Some RMBS/CMBS

-- NMN,Admin,New York NY  11/29/2011

The Scourge of Negative Equity Slips, Ever So Slightly

Radian Guaranty is seeking waivers in 12 states of risk-to-capital requirements, even though it does have $600 million in capital at the parent company level available to downstream to the mortgage in -- NMN,Admin,New York NY  11/29/2011

Radian Seeks Waivers On Capital Requirements

Congress has opened the door for FHA lenders to originate jumbo loans of up to $729,750 without being crowded out of the market by Fannie Mae and Freddie Mac products. -- NMN,Admin,New York NY  11/29/2011

FHA `Jumbos` May Not Bring In Much Volume

-- NMN,Admin,New York NY  11/29/2011

FHFA IG: Agency Defers to GSEs Too Much

The Consumer Financial Protection Bureau is initiating a process for streamlining and updating its consumer regulations with bureau officials seeking public input on which rules should be looked at fi -- NMN,Admin,New York NY  11/29/2011

CFPB Looks to Streamline Rules, Seeks Public Input

-- NMN,Admin,New York NY  11/29/2011

ServiceLink Names New Company President

ServiceLink, a Fidelity National Financial company, has announced the appointment of Chris Azur as its new company president. Azur has served as executive vice president and chief -- NationalMortgageProfessional.com,NMP Media Services,   11/29/2011

Rep. Barney Frank to Retire in 2013

Rep. Barney Frank (D-MA), former Chairman of the House Financial Services Committee, has announced that he will not run again for a Congressional seat in the 2012 election. Rep. Frank w -- NationalMortgageProfessional.com,NMP Media Services,   11/29/2011

Home Prices Sputter Into Q4 and Experience Insignificant Quarterly Change

Data through September 2011, released by S&P Indices for its S&P/Case-Shiller Home Price Indices, shows that nationwide, home prices did not register a significant change in the thir -- NationalMortgageProfessional.com,NMP Media Services,   11/29/2011

FHFA Names New COO and Head of GSE Oversight

Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco has announced the appointments of Richard B. Hornsby as FHFA’s new chief operating officer and Jon Greenlee as FHFA`s -- NationalMortgageProfessional.com,NMP Media Services,   11/29/2011

NCUA Files Suit Against Wachovia

The National Credit Union Administration (NCUA) has filed suit in Federal District Court in Kansas against Wachovia and its subsidiaries alleging violations of federal and state securities laws and mi -- NationalMortgageProfessional.com,NMP Media Services,   11/29/2011

Martin, Leigh, Laws & Fritzlen Partners Named `Super Lawyers`

The Kansas City, Missouri-based default servicing law firm Martin, Leigh, Laws & Fritzlen, P.C. recently announced that Steven M. Leigh; Berry F. Laws, III; and Thomas J. Fritzlen have been recognized -- DSNews.com,Admin,   11/29/2011

ServiceLink Announces Appointment of Chris Azur as President

ServiceLink announced Tuesday that the company has appointed Chris Azur president. Azur served as EVP and COO of ServiceLink for the last four years. His areas of responsibility included the valuation -- DSNews.com,Admin,   11/29/2011

Employment and Income Fraud on the Rise

While incidences of mortgage fraud have remained steady over the past six quarters overall, submissions of fraudulent employment/income information are on the rise, according to the latest Mortgage Fr -- DSNews.com,Admin,   11/29/2011

Prices of Homes Backing GSE Mortgages Up 0.2% in Third Quarter

Home prices rose in the third quarter of 2011, according to the Federal Housing Finance Agency's (FHFA) house price index released Tuesday. The federal agency's index is calculated using home -- DSNews.com,Admin,   11/29/2011

FHFA-OIG Points Out FHFA Shortcomings

The Office of the Inspector General for the Federal Housing Finance Agency (FHFA-OIG) submitted its semiannual report to congress reviewing FHFA's actions from April 2010 through September 2011. T -- DSNews.com,Admin,   11/29/2011

Study Finds Fewer Borrowers Sinking in Negative Equity

The depreciation of home values over the past half-decade has left millions of mortgage borrowers owing more than their home is worth -- 10.7 million, according to CoreLogic. The company released its -- DSNews.com,Admin,   11/29/2011

UGI Will Expand HARP Participation

Default management vendor ServiceLink, Pittsburgh, on Tuesday named Chris Azur as its new president. -- NMN,Admin,New York NY  11/29/2011

New York Judge Nixes Citi`s CDO Settlement

Guggenheim Partners affiliate Pillar Multifamily LLC has agreed to buy Fannie Mae eligible loans sourced by Tremont Realty Capital LLC under a correspondent agreement between the two companies. -- NMN,Admin,New York NY  11/29/2011

Default Vendor Promotes Azur to President Slot

Home prices dropped in September from August in 17 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index. It was the first decline after five straight months in which at least half -- NMN,Admin,New York NY  11/29/2011

Case-Shiller: Home Prices Remain Weak

-- NMN,Admin,New York NY  11/29/2011

Fannie Confirms Early November Layoffs

I have some questions for all the owners of small mortgage origination shops: are you running your business like it is a business? Do you have the systems in place to examine what is succeeding in you -- NMN,Admin,New York NY  11/29/2011