Mortgage Lending News     Click to continue . . .

  •   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

  •   Mortgage Applications Decrease In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 26, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 455.4, a decrease of 23.0 percent on a seasonally adjusted basis from 591.4 one week earlier. On an unadjusted basis, the Index decreased 23.4 percent compared with the previous week and was down 28.4 percent compared with the same week one year earlier.
Mortgage Bankers Association of America,John Ferber,Washington District of Columbia  10/03/2008

  •   MBA Applauds SEC and FASB for FAS 157 Clarification
The Mortgage Bankers Association (MBA) hailed yesterday's announcement by the Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB) permitting the use of discounted cash flow fair value measurements under FAS 157 when no active market for a security exists.
Mortgage Bankers Association of America,John Ferber,Washington District of Columbia  10/03/2008

  •   MBA Hails Passage of Economic Stabilization Package, Tax Extenders
The Mortgage Bankers Association (MBA) today applauded the House of Representatives' passage of H.R. 1424, the Emergency Economic Stabilization Act of 2008. The bill, which establishes a program at the Treasury Department to purchase distressed mortgage-related assets, also includes the extension of several tax provisions that will help steady the American economy.
Mortgage Bankers Association of America,John Ferber,Washington District of Columbia  10/03/2008

  •   HUD Approves Single National Loan Limit of $417,000 for Reverse Mortgage Program
The National Reverse Mortgage Lenders Association announced that the Department of Housing and Urban Development (HUD) approved a single national loan limit of $417,000 for federally insured Home Equity Conversion Mortgages (HECM).
Reverse Mortgage,Information 5904,Washington District of Columbia  10/03/2008

  •   LOVE FUNDING’S NEW YORK OFFICE SECURES MORE THAN $3.5 MILLION IN FINANCING FOR FOUR MULTIFAMILY HOUSING COMPLEXES
Love Funding, a national mortgage-banking firm, today announced that its New York office secured more than $3.5 million in financing for four multifamily housing complexes located in Puerto Rico, Florida and Tennessee. Bill Jones, First Vice President with Love Funding’s New York office, originated the transactions.
Love Funding Corp.,Robyn Cunningham,New York NY  10/03/2008