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Mortgage Lending July 31, 2008
→ SearchMyLoan.com Announces Strategic Alliance with JMAC Lending
-Lender’s extensive loan programs now available through pricing and search engine -
SearchMyLoan.com (SML), a provider of loan search and pricing services for the mortgage industry, announced a strategic alliance with Huntington Beach, Calif.-based JMAC, a lender offering diversified product lines and competitive pricing to the wholesale funding market. -- SearchMyLoan.com,Info,PORT WASHINGTON NY 07/31/2008
→ Mortgage Servicers Set Monthly, Quarterly Records For Helping Homeowners Avoid Foreclosure
Estimated 1.9 Million Foreclosures Prevented Since July 2007 -- HOPE NOW,Kate McGann,Washington DC 07/31/2008
→ HOUSING REFORM PROVIDES EXPANDED RESOURCES TO STRUGGLING OHIO FAMILIES AND COMMUNITIES
The Ohio Housing Finance Agency (OHFA) commends Congress and President Bush for the passage of comprehensive housing legislation that will provide assistance for Ohio families and neighborhoods caught in the crossfire of the foreclosure crisis. The American Housing Rescue and Foreclosure Prevention Act (H.R. 3221) was signed by President Bush earlier today and will help borrowers facing foreclosure and communities blighted by abandoned properties. -- Ohio Housing Finance Agency,Erin Biehl,Columbus Ohio 07/31/2008
→ Statement from NACEDA Executive Director Jane DeMarines
Housing Legislation Will Lessen Foreclosure Damage to Low-Income Neighborhoods -- National Alliance of Community Economic Development Associations (NACEDA),Jane DeMarines, 07/31/2008
→ Subprime, Auction-Rate Securities Cases Driving Shareholder Class Action Filings toward Highest Level since 2002, while Settlement Values Remain Steady
NERA Study Reveals Additional Factors Affecting Filings -- NERA Economic Consulting,Benjamin Seggerson,New York NY 07/31/2008
→ HFF closes sale of Omaha, Nebraska Class A multifamily community
The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Steeplechase Apartments, a 314-unit Class A multifamily community in Omaha, Nebraska. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,CHICAGO IL 07/31/2008
→ $116.1 million refinancing arranged by HFF for Century Center I and II in Arlington, Virginia
The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $116.1 million refinancing for Century Center I and II, a 624,573-square-foot office project in Arlington, Virginia. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,WASHINGTON dc 07/31/2008
→ HFF arranges $8 million refinancing for Philadelphia medical office buildings
The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged an $8 million refinancing for Eastwick Wellness Center and Upper Darby Wellness Center, two medical office buildings in Philadelphia, Pennsylvania. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,FLORHAM PARK NJ 07/31/2008
→ MAVENT OBTAINS INNOVATIVE TECHNOLOGY PATENT FOR MORTGAGE COMPLIANCE
Mortgage compliance pioneers assist lenders nationally amid mortgage crisis; technology quickly and effectively determines loan compliance -- Mavent Inc.,Lou Pizante,Irvine California 07/31/2008
→ FICS Completes Roll Out of Business Objects’ Business Intelligence Tools
- Roll out to Loan Producer customers completes implementation of business intelligence tools for all FICS users - -- FICS Group,Kelly Graham,Dallas Tx 07/30/2008
→ BasePoint`s Opinion on Reporting Mortgage Fraud - Fighting Fraud with Frank
If a tree falls in a forest and no one is around to hear it, does it make a sound? You have probably heard this riddle which presents the situation of a reality (the tree falling) and a human observation (hearing a sound). Did the sound the tree made when it fell really exist when no one was around to hear it? Can something exist without it being recognized by the world? Is recognition necessary for existence? -- BasePoint Analytics,Info, 07/30/2008
→ MBA's Quinn Hails Senate Passage of Housing Bill
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) issued the following statement following the Senate's passage of H.R. 3221, The Housing and Economic Recovery Act of 2008. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 07/30/2008
→ COASTAL COMMUNITY BANK EXPERIENCES BIG SAVINGS BY TRANSACTING MORTGAGE LOANS ELECTRONICALLY
Company was the first to deploy Ellie Mae’s hosted Encompass® Banker Edition; sees costs per loan go down 15 percent -- Ellie Mae Inc.,David Lewis,Pleasanton California 07/30/2008
→ REOMAC PRESIDENT AVAILABLE TO DISCUSS DEFAULT TRENDS AND INDUSTRY’S HOTTEST TOPICS
Interviews Available to Discuss Strategies for Successful Adaptation in Today’s Changing Market -- REOMAC,Info,Tustin ca 07/30/2008
→ Regulation Finally Reaches Mortgage Industry
One full year after the credit crisis began, the government is finally getting around to regulating the mortgage industry. The new housing bill that just passed Congress requires background checks, testing, registration in a national database and annual continuing education requirements for all individual mortgage bankers and brokers. “The government is finally paying attention to what we’ve been advocating for years,” said Gibran Nicholas, Chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. -- CMPS Institute,Josephine Nicholas,Ann Arbor MI 07/30/2008
→ James P. Gross Joins MBA as Associate Vice President of Accounting, Tax and Bank Regulation
The Mortgage Bankers Association (MBA) today announced the appointment of James P. Gross as Associate Vice President of Accounting, Tax and Bank Regulation. In this capacity, he will help develop and implement MBA's strategy on legislative, regulatory and industry issues in the areas of accounting and tax policy and bank regulatory capital. He will also be the staff representative to MBA's Financial Management Committee. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 07/30/2008
→ Seniors Considering Reverse Mortgages to Benefit Greatly from Housing Legislation
Landmark housing legislation (H.R. 3221) passed by Congress this weekend will make substantial improvements to the federally-insured reverse mortgage program and greatly benefit senior homeowners who may want to utilize home equity to help finance their retirement years. -- National Reverse Mortgage Lenders Association,Darryl Hicks,Washington DC 07/30/2008
→ Pending Suitability Regulations Leave Mortgage Lenders Exposed to Potential Violations
Current and proposed regulations require lenders to select loans that are suitable to borrowers and watch out for their best interest -- Overture Technologies,Pete Maselli,Bethesda Maryland 07/30/2008
→ CAMBRIDGE CREDIT ADVISES CONSUMERS TO BRACE FOR INCREASES AT THE CHECK OUT COUNTER
Consumers are urged to budget in advance of price increases -- Cambridge Credit Counseling Corp.,Thomas Fox,Agawam ma 07/30/2008
→ Ideal Mortgage Bankers To Exit Wholesale Lending Business
Will focus on expanding Lend America its rapidly growing direct-to consumer retail platform - Company expects to be a top five FHA lender by early 2009 -- LendAmerica,Mary McPhall,Melville NY 07/30/2008
→ Second Half 2007 Mortgage Originations Show Preference for
Fixed Rate Products Over Adjustable Rate Products -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia 07/30/2008
→ Mortgage Applications Decrease In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 25, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 420.8, a decrease of 14.1 percent on a seasonally adjusted basis from 489.6 one week earlier. On an unadjusted basis, the Index decreased 13.7 percent compared with the previous week and was down 30.3 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 07/30/2008
→ Hanley Investment Group Reps Buyer & Seller in $15 Million Shopping Center Sale in National City, Calif.
Hanley Investment Group represented the buyer and seller in the $15 million sale of a grocery/drug anchored shopping center at the corner of East Plaza Blvd. and Euclid Ave. in National City, Calif. A Canadian buyer paid a 6% cap rate for the 68,084 sq. ft. shopping center, which includes tenants Ralphs, Walgreens, Blockbuster Video and Firestone Tires. The center, which was 100% occupied at the time of the sale, is situated on 7.35 acres. -- Monaghan Communications,Anne Monaghan,National City California 07/30/2008
→ LIMITED TIME OFFER!
REFERRAL REWARDS PROGRAM!!!! We are offering a coupon worth $100.00 off credit repair. Mortgage Brokers, Real Estate Agents, Lenders are ALL welcome to take advantage of this offer! `PUT MORE DOLLARS IN YOU POCKETS`..... Close more loans with your Clients that have low credit scores! -- Premier Credit Express,Jackie Sortino, 07/29/2008
→ KTGY`s Stan Braden & Jirair Garabedian Invited to Speak at CLE Mixed-Use Development Conference
KTGY`s Stan Braden, AIA, Chairman and Principal, and Jirair Garabedian, AIA, LEED AP, Studio Director have been invited to speak at the Continuing Legal Education (CLE) Mixed-Use Development Conference in San Francisco at the session, `Residential and Retail Mixed-Use and the Design of Horizontal and Vertical Solutions From Concept to Construction,` on Aug. 22, 2008 at 1:15 pm. -- Monaghan Communications,Anne Monaghan,San Francisco California 07/29/2008
→ Fannie Mae and Freddie Mac: A Fall From Grace
"The recent collapse in the stock prices of Fannie Mae and Freddie Mac is just one in a series of blows to the stability of U.S. financial markets. The threat created by the failure of these two institutions, however, could be even greater than that posed by the collapse of Bear Stearns earlier in the year," says Adolfo Laurenti, senior economist of Mesirow Financial, in his July issue of Themes on the Global Markets available at: http://www.mesirowfinancial.com/economics/laurenti/themes/globalmkts_0708.pdf. -- Mesirow Financial,Info,Chicago IL 07/25/2008
→ MBA's Quinn: HUD Takes Bold Step to Modernize FHA with Housing Tax Credit Program
-The Mortgage Bankers Association (MBA) today applauded issuance of HUD Mortgagee Letter 2008-19 which streamlines processing of FHA multifamily insurance applications with Low Income Housing Tax Credits. The Mortgagee Letter contains important changes to FHA processing which will provide flexibility and cut costs, making FHA insurance a very competitive financing vehicle for affordable rental properties with low income housing tax credits. -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia 07/25/2008
→ StoneWater Selects MindBox Technology to Deliver Instant On-Line Product and Pricing Decisions
Proven technology, speed of implementation key advantage for new mortgage lender -- MINDBOX,Yared Benyam,Greenbrae California 07/25/2008
→ DocuSign Launches New Enterprise Service Capabilities for
Electronic Contract Execution
Beyond eSignatures, DocuSign gives enterprise customers the most powerful solution available to eliminate slow, expensive paper-based processes for transporting, signing, storing contracts and capturing business data -- DocuSign,Info,Seattle Washington 07/25/2008
→ MBA's Quinn: "This is the Most Important Housing Bill in a Generation"
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) hailed the House of Representatives passage of the omnibus housing bill. The bill, which passed the House by a vote of 272-152, will now go to the Senate - where leaders have indicated it will pass - and then to President Bush, who has stated he will sign it. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 07/25/2008
→ CampusMBA Launches Reverse Mortgage Central
A Complete Training Solution For Lenders As Reverse Mortgage Business Continues To Grow -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 07/25/2008
→ MBA Submits Formal Response to SEC Regulatory Proposals on Credit Rating Agencies
The Mortgage Bankers Association (MBA) today submitted a comment letter to the Securities Exchange Commission (SEC) in response to the SEC`s proposed amendments to its regulations governing nationally recognized statistical rating organizations (NRSROs). MBA expressed support for measures in the SEC proposal that would promote transparency, accountability, and credibility of NRSROs and the methodologies used to assign credit ratings. However, MBA strongly opposes different ratings symbols to be used for structured finance versus other investment products. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 07/25/2008
→ HOPE NOW Executive Director Testifies Before Congress
Schwartz emphasizes numbers of ways homeowners have been helped and large numbers of foreclosures prevented -- HOPE NOW,Kate McGann,Washington dc 07/25/2008
→ MBA's Kittle Testifies on Mortgage Servicing
David G. Kittle, CMB, Chairman-elect of the Mortgage Bankers Association (MBA) and President of Principle Wholesale Lending, Inc. of Louisville, KY testified today before the House Financial Services Committee. At the hearing titled, "A Review of Mortgage Servicing Practices and Foreclosure Mitigation," Mr. Kittle explained to committee members that servicers' and borrowers' interests are typically aligned in avoiding foreclosure and working together to help keep borrowers in their homes. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 07/25/2008
→ Mortgage Credit News - July 25, 2008
Mortgage rates are still stuck near 6.75%, the financial markets confused and locked-up until a blast of argument-resolving data arrives next Friday.
Oil down to $123 and natural gas to $9.25 helped stocks for a while, but they still fell apart on no-bottom housing news and a sinking job market. The economy is obviously weakening, but rates are held up by fear that inflation is the greater risk -- even the stock market’s Thursday elevator-shaft could not hold down long-term rates. -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado 07/25/2008
→ 140 million in financing for Renaissance Boston Waterfront Hotel arranged by HFF
The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged $140 million in financing for the recently-opened Renaissance Boston Waterfront Hotel in Boston’s vibrant Seaport District. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Boston MA 07/24/2008
→ Housing Rescue Package Will Have Global Impact
A full one year after the credit crisis began, Congress is in the final stages of approving HR 3221, the most comprehensive mortgage and housing legislation in decades. `This will have an enormous impact in the US housing and mortgage markets, as well as every major financial market all across the world,` said Gibran Nicholas, Chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. -- CMPS Institute,Josephine Nicholas, 07/24/2008
→ Hodgdon Miank Construction Completes Construction on $6.8 Million Heritage Crossing Shopping Center in Fontana, Calif.
gdon Miank Construction completed construction on Heritage Crossing, a $6.8 million shopping center at the southwest corner of Baseline Avenue and Cherry Avenue in Fontana, Calif. The 4.86-acre project includes a multi-tenant retail building, state-of-the-art Jump Start Express Car Wash and a Miguel`s Jr. Mexican Food restaurant with a drive-thru. Miguel`s is now open for business. -- Monaghan Communications,Anne Monaghan,Newport Beach California 07/24/2008
→ An Instant Sale, Cash For Your Home In As Little As 7 Days
With the credit crunch having a massive impact on the property market and more homeowners in the UK falling into debt every day, it was only a matter of time before a market solution was offered. This is why we are pleased to announce the launch of An Instant Sale. -- ,Aninstantsale, London 07/23/2008
→ Introducing An Instant Sale, A Smarter Way To Sell
We are proud to announce the launch of An Instant Sale, the premier home quick sale company in the UK today. Specializing in property homeowner sales within just seven days, An Instant Sale is able to offer homeowners a way to obtain cash for their home in a hurry. -- ,Aninstantsale, London 07/23/2008
→ Company Looks to Drive Best Practices in Default, REO Management
-- Default School,Glen Calderon, 07/23/2008
→ Government to Blame for Housing and Financial Crisis
In "The Government Did It," an opinion piece published last Friday on Forbes.com, Dr. Yaron Brook, president and executive director of the Ayn Rand Institute, argued that our government's massive control over the housing and financial markets has led to many of the problems being blamed on the free market today. -- Ayn Rand Institute,Media,Irvine ca 07/23/2008
→ Compliance Coach announces Harland Financial Solutions will Market its Identity Theft Red Flags Rule Solution
Harland Financial Solutions will market Compliance Coach’s new CompliancePal software to financial institutions and creditors to enable timely compliance -- Compliance Coach,Info,SAN DIEGO ca 07/23/2008
→ MBA`s Kempner Announces His Departure
Jonathan L. Kempner, President and Chief Executive Officer of the Mortgage Bankers Association, announced today that he will be stepping down from that role on December 31, 2008. Kempner was hired in March 2001 to lead MBA through a turnaround in its operations after three especially rough years. Under his leadership, the association doubled its revenues and operating reserve fund, while scoring a host of policy and advocacy victories. Major strides have been recorded in MBA`s various member-focused departments, including communications, research, conferences, education and technology - in both the realms of residential and commercial/multifamily real estate finance. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 07/23/2008
→ Mortgage Applications Decrease In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 18, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 489.6, a decrease of 6.2 percent on a seasonally adjusted basis from 522.2 one week earlier. On an unadjusted basis, the Index decreased 6.1 percent compared with the previous week and was down 19.6 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 07/23/2008
→ NJ MULTI-FAMILY MARKET REMAINS STRONG AND VIABLE
Occupancy Rates Continue to Fall as Rents and Appreciation Values Rise -- Cushman & Wakefield Real Estate,Information 6469,New York New York 07/23/2008
→ Marinita Development to Commence Construction on New $24.3 Million Shopping Center in La Quinta, Calif.
Marinita Development plans to commence construction on August 1, 2008 on Jefferson Square, a new $24.3 million, 90,440 sq. ft. supermarket/drug anchored shopping center in La Quinta, CA. Phase one, which will consist of a Fresh & Easy Market and CVS/pharmacy, is expected to be completed in the first quarter of 2009. KTGY is the project architect. -- Monaghan Communications,Anne Monaghan,Newport Beach California 07/22/2008
→ America Weighs in for Downpayment Assistance
Public Comments Overwhelmingly Oppose HUD Plan To Ban Key Downpayment Assistance Program -- Ameridream, Inc,Kevin Mehling,Saint Charles Illinois 07/22/2008
→ Home Sales to Vary in Narrow Range, Then Rise in Second Half
Modest near-term movement is expected in existing-home sales, with a recovery in sales seen during the second half of the year, according to the latest forecast by the National Association of Realtors(R). -- National Association of Realtors®,Walter Molony,WASHINGTON dc 07/22/2008
→ Senator Durbin Introduces Quick Fix for Predatory Consumer Lending
36 percent cap ends out-of-control 400 percent rates -- Center for Responsible Lending,Kathleen Day,Washington dc 07/22/2008
→ Victims of 'Real Estate Catch-22' Offset Mortgage Costs as First-Time Landlords
TenantWIZ Provides Stressed-Out Homeowners Tools to Manage Multiple Properties -- TenantWIZ Software Corporation,Info,Las Vegas nv 07/22/2008
→ Lender Processing Services, Inc. Acquires McDash Analytics
Integrates Acquired Analytics with Existing Data Resources to Provide Unparalleled Decision-Making Capabilities -- Lender Processing Services,Michelle Kersch,JACKSONVILLE fl 07/22/2008
→ Fannie and Freddie – What Went Wrong and Can It Be Fixed?
Ann Arbor, MI July 22, 2008 – “There are two main issues that need to be addressed regarding the problems being experienced by Fannie Mae and Freddie Mac,” said Gibran Nicholas, Chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. -- CMPS Institute,Josephine Nicholas,Ann Arbor MI 07/22/2008
→ Hyland Software Named Top 50 Provider by Mortgage Technology Magazine for Fifth Consecutive Year
- Company recognized as one of 'best and brightest' mortgage technology providers - -- Hyland Software Inc.,Lindsey Quirk,Cleveland Ohio 07/21/2008
→ Acquired Mortgage Companies Increase as Failures Decline
Mortgage-related company failures have fallen as the number of acquisitions has grown, according to data tracked at http://www.mortgagegraveyard.com/, a journal of failed, ailing and acquired lenders. -- MortgageDaily.com,Sam Garcia,Irving Texas 07/21/2008
→ Foreclosure Shorts - 07/21/2008
Latest articles on Foreclosures -- Bill Draving Company, Inc.,Bill Draving,San Antonio Texas 07/21/2008
→ New Fed Mortgage Rules – What Consumers Need to Know
On Monday, July 14, 2008, the Federal Reserve issued rules that are designed to combat predatory lending practices. “The final version of the rules incorporated many of the changes we suggested to the Fed when we commented on these rules a few months ago,” said Gibran Nicholas, Chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. “Some of the rules apply only to higher cost non-conventional mortgages such as many jumbo loans and those in the sub-prime category, while other rules apply across the board and affect all mortgage originations,” said Nicholas. Here are two examples of how the new rules will affect consumers: -- CMPS Institute,Josephine Nicholas,Ann Arbor MI 07/21/2008
→ Mortgage Credit News - July 18, 2008
A Fannie/Freddie Treasury guarantee on the way means mortgage rates have fallen, right? The huge spread between 10-year T-notes and mortgages has closed, for sure? All these mortgage-backed securities as good as Treasurys, they’re trading the same way? Fannie and Freddie can borrow cheaply, so mortgage rates will be cheap, too?
All wrong. This week’s mortgage trading removes any remaining dispute about the difficulty facing the financial system, the economy, and housing. Mortgage rates have soared to 6.75%, up .375% in a week, the spread over 4.07% 10-year notes wider. -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado 07/21/2008
→ Ellie Mae’s Encompass® Mortgage Management Solution to Be Delivered via Integrated Data Centers and Global Wide Area Network
Nation’s Top Brokers and Bankers to Benefit from Innovative Software-as-a-Service Solution -- Ellie Mae Inc.,David Lewis,Pleasanton California 07/21/2008
→ Prospect Mortgage Moving Forward with Acquisition of Indymac Mortgage Retail Branches
Branches in full operation during transition, funding and originating loans, unaffected by federal actions toward former parent company -- Prospect Mortgage Company,Info,Northbrook il 07/21/2008
→ Fannie Mae debacle explained
It`s a Wonderful Life -- ,michael daimler,Washington DC 07/19/2008
→ Hollywood`s answer to the real estate crisis - Prop. 2
Agenda: `It`s the (real estate) economy, stupid!` -- ,michael daimler,Hollywood CA 07/19/2008
→ Ed McMahon sues...
Careful who you invite to dinner. Check their FICO first. -- ,michael daimler,Los Angeles CA 07/19/2008
→ NationwideMortgage.com provides educational mortgage news to borrower`s
NationwideMortgage.com is the newest educational center for borrower`s looking for information about the rapidly changing mortgage market. NationwideMortgage.com provides advice to borrower`s looking for help. -- NationwideMortgage.com,NationwideMortgage.com,New York NY 07/18/2008
→ Need A Nationwide Notary? ASAP Pro Notary Service can HELP!
ASAP Pro represents clients professionally, and ethically, and ASAP Pro guarantees the accuracy of our work. With extensive follow up procedures, your loan closings are completed accurately and timely each and every time! ASAP Pro provides real time updates on your mobile notary closings in every step of the closing process -- ASAP Pro Notary Services,Lisa Harrow,Southlake Texas 07/16/2008
→ NOW TAKING CREDIT CARDS
PROBASCO APPRAISAL SERVICE INC. -- PROBASCO APPRAISAL SERVICE INC,Randy Probasco,Beaverton Oregon 07/16/2008
→ Foreclosure Shorts - 07/16/2008
Latest articles on Foreclosures -- Bill Draving Company, Inc.,Bill Draving,San Antonio Texas 07/16/2008
→ Kirtland Federal Credit Union Turns to FICS for Mortgage Origination and Servicing Solutions
– 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 New Mexico-based Kirtland Federal Credit Union is successfully utilizing its residential loan origination and servicing suite of mortgage technology solutions. -- FICS - Financial Industry Computer Systems, Inc.,Kelly Graham,Addison Texas 07/16/2008
→ David Foote Joins Southwest Securities, FSB as Senior Vice President, Commercial Loan Officer, Downtown Dallas Banking Center
David Foote has joined the team at Southwest Securities, FSB as a senior vice president and commercial loan officer for business development in the downtown Dallas banking center, located in Renaissance Tower. Foote brings an extensive background in real estate, Small Business Administration and non-conventional lending. -- Southwest Securities, FSB,Jim Bowman,Dallas tx 07/16/2008
→ ACCURATE APPRAISALS KEY TO SECURING MORTGAGE LOANS
Changing Market Conditions Create New Challenges for Industry -- Forsythe Appraisals,Tim Forsythe,Minneapolis Minnesota 07/16/2008
→ NetMore American, Inc. Secures $5.5 Million in Capital Investments
- Appoints Bill Prater Advisory Board Chairman - -- NetMore America, Inc. (NetMore),Info, 07/16/2008
→ MBA's Quinn: "Housing Bill Crucial to Stabilizing the Market"
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA), in anticipation of today's Senate vote to pass HR 3221, the Foreclosure Prevention Act of 2008, praised the Senate and stressed the importance of this bill to address ongoing instability in the housing and mortgage markets. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 07/16/2008
→ Mortgage Credit News - July 11, 2008
The Fannie-Freddie panic began on Wednesday -- that is, this Fannie-Freddie panic, as opposed to the prior ones. The firms had already lost 90% of their stock value, and can continue to lose half of their remaining value every day forever with no trouble. It’s losing the other half that’s a problem. -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado 07/16/2008
→ Lydian Forms New FHA/VA Loan Processing Subsidiary
FHA loans expected to take 10 percent of lending market in 2008, 15 percent in 2009, and mortgage companies have little experience processing them -- Lydian Data Services,Philippe Turpault,Boca Raton FL 07/16/2008
→ MBA's Quinn Reacts to Treasury and Fed Announcement on GSEs
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) this evening applauded the actions outlined today by the United States Department of Treasury and the Federal Reserve Board regarding Fannie Mae and Freddie Mac (the GSEs). -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 07/16/2008
