Mortgage Lending March 15, 2008
→ You Too Can Open a Lending Company in 2008
`Hurricane Mortgageā€¯ has wreaked still untold havoc. However, for those mortgage executives who weathered the storm and planned to start a mortgage lending company in 2008, the forecast is surprisingly sunnyā€¦ thanks toā€¦ new technological advances that save overhead costs... -- OpenClose Solutions: Mortgage Software,Frank Bocchino,West Palm Beach FL 03/15/2008
→ MBA's Quinn Commends Introduction of Mortgage Relief Bill
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association today welcomed Congressman Barney Frank's proposal for legislation to help stabilize the mortgage and housing markets and assist borrowers. Legislative language was introduced today, though Chairman Frank warned that it could change before the bill was officially introduced. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 03/14/2008
→ MBA Applauds HUD for Proposed RESPA Rule, Cautions About Potential for Consumer Confusion
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers today praised the U.S. Department of Housing and Urban Development (HUD) for releasing a new proposed rule to simply and improve the process of obtaining a mortgage under the Real Estate Settlement Procedures Act (RESPA). -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 03/14/2008
→ Boise Real Estate Market Web Site Provider
Real Estate CPR is Boise Idaho`s premiere Internet developer for real estate agents. Real Estate CPR develops web sites and web based applications that help real estate agentsb better sell homes. We provide full MLS / IDX services that cover the entire treasure valley, full virtual tour services, professional photography, home staging, fully search engine optimized websites that allow the agent to drive content and advanced marketing services. -- Real Estate CPR,Real Estate CPR,Boise Idaho 03/14/2008
→ Quinn Encouraged by Recommendations of Presidential Working Group on Financial Markets
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association today welcomed the recommendations of the President`s Working Group (PWG) on Financial Markets. The recommendations were released by Treasury Secretary Paulson in a speech this morning at the National Press Club. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 03/13/2008
→ MBA 2007 MARI Report Exposes and Explores Residential Mortgage Fraud Against Lenders in US
The Mortgage Bankers Association (MBA) today announced that the Mortgage Asset Research Institute, LLC (MARISM), a ChoicePoint® (NYSE: CPS) company, has completed its 10th Periodic Mortgage Fraud Case Report to MBA. The report examines the current state of residential mortgage fraud and misrepresentation in the U.S. based on participating subscribers' reports to MARI. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 03/13/2008
→ HFF arranges $6.3 million refinancing for two New Jersey nursing homes
The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged refinancing totaling $6.3 million for Morris Hills and Waterview nursing homes in Morristown and Cedar Grove, New Jersey. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,FLORHAM PARK NJ 03/12/2008
→ LendingTree.com Examines How to Use Home Equity Loans and Home Equity Lines of Credit Wisely
Learn more about home equity loans and lines of credit from LendingTree.com -- LendingTree,Allison Vail,Charlotte North Carolina 03/12/2008
→ CAMBRIDGE PROVIDES $13.6 MILLION HUD 232 INSURED LOAN TO REFINANCE SKOKIE MEADOWS NURSING CENTER
A $13.6 million FHA-insured HUD loan has been provided by Cambridge Realty Capital Companies to refinance the Skokie Meadows Nursing Center, a combined 224-bed intermediate care and board and care facility in Skokie, Illinois. -- Cambridge Realty Capital Ltd,Evan Washington,Chicago Illinois 03/12/2008
→ Kevin T. Fryman of Hanley Investment Group Promoted to Vice President
Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the sale of retail properties, announced today that Kevin T. Fryman has been promoted from senior associate to vice president at Hanley Investment Group. -- Monaghan Communications,Edward Hanley,newport beach California 03/12/2008
→ Hanley Investment Group Represents Seller in Sale of $7,380,000
Starbucks-Anchored Shopping Center in Ontario, Calif. -- Monaghan Communications,Edward Hanley,newport beach California 03/12/2008
→ Compliance Systems, Inc. Adds Industry Expert and Innovator to Its Mortgage Team
Roger Gudobba to Lead CSi Mortgage Strategy -- Compliance Systems, Inc.,Kelly Booth,GRAND RAPIDS Mi 03/12/2008
→ Mortgage Credit News - March 7, 2008
Mortgage rates spiked to 6.75% on Wednesday, only today sliding back into 6.50% range (these rates with no loan fees). There is good reason to expect rates to fall back, and maybe a long way, but only in the context of effective intervention by Federal authorities. -- Boulder West Financial Services,Lou Barnes,Boulder Colorado 03/12/2008
→ Commercial/Multifamily Mortgage Delinquencies End 2007 At or Near Record Lows for Most Major Investor Groups
The Mortgage Bankers Association (MBA) released its inaugural analysis of Commercial/Multifamily Mortgage Delinquency Rates for Major Investor Groups that shows delinquency rates ended 2007 at or near record lows for most major investor groups. Fourth quarter delinquency rates for four of the five largest investor groups - commercial mortgage-backed securities (CMBS), life companies, Fannie Mae and Freddie Mac - remained at or near historically low levels. For the fifth group, FDIC-insured commercial banks and thrifts, delinquency rates were lower at 2007's year-end than during 5 of the previous 11 years and 10 of the previous 16 years. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 03/12/2008
→ HFF arranges first mortgage financing for USPS Circle City Station in downtown Indianapolis
The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged first mortgage financing for the United States Postal Service (USPS) Circle City Station Building in downtown Indianapolis, Indiana. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,INDIANAPOLIS IN 03/12/2008
→ FHA Apps Up, Purchase Apps Unchanged, Refi Apps Down In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 7, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 671.7, a decrease of 1.9 percent on a seasonally adjusted basis from 684.9 one week earlier. On an unadjusted basis, the Index decreased 1.4 percent compared with the previous week and was down 3.4 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 03/12/2008
→ MISMO® Completes Milestone One of Version 3.0
Major Step Forward for Industry-Wide Adoption of MISMO`s Version 3.0 Architecture -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 03/12/2008
→ Record Increase in Multifamily Mortgage Debt Outstanding Led By GSEs
The level of commercial/multifamily mortgage debt outstanding grew by 2.6 percent in the fourth quarter, exceeding $3.3 trillion, according to the Mortgage Bankers Association (MBA) analysis of the Federal Reserve Board Flow of Funds data. The total was an increase of $356 billion or 12 percent from the end of 2006. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 03/12/2008
→ Forward-Thinking Positions Lend America As The Best Prepared FHA
Approved Lender To Help Borrowers With Affordable Mortgage Solutions
Higher loan limits on FHA insured loans offer tangible solution for new set of borrowers
Company now offers $1,200 “stimulus package” to provide additional assistance to borrowers -- LendAmerica,Mary McPhall,Melville NY 03/12/2008
→ TBA Lending.com Unveils March Television Campaign Focusing on Educating Consumers about Their Options
As commercials air throughout Cincinnati in March the company continues to provide their services throughout the nation and is considered a top resource for any consumer searching for their next home or business loan. -- TBA Lending.com,Steve Tussey,Cincinnati OH 03/12/2008
→ Increased Federal Loan Limits Lower Price Tag on Hundreds of Thousands of Loans
Mortgage Planners can Help Potential Homeowners Reduce Monthly Payments by Choosing the Correct Federally-backed Loan Product While the Temporary Increase is in Effect
Sacramento, CA, March 11, 2008- One immediate benefit of The Economic Stimulus Act of 2008 is the increase in loan limits for high-cost areas of the country. By raising the Federal Housing Administration's loan limits on what qualifies for lower-cost FHA, Fannie Mae and Freddie Mac loans, the bill could help a quarter of a million families purchase or refinance their homes at a lower cost. Combined with record low interest rates, the change could improve the financial picture for many now facing foreclosure. The options and loan ceilings vary, however, from county to county and only a Certified Mortgage Planner can weigh all the options to determine if a new loan makes sense for an individual homeowner. -- American City Financial,William Ripley,Sacramento ca 03/12/2008
→ FIRST AMERICAN CREDCO ANNOUNCES NEW CONNECT WEB SERVICES TECHNOLOGY
Expands Product Availability, Including Anthem Non-traditional Credit Reporting -- First American Credco,David Woodruff,Poway California 03/12/2008
→ Quinn Testifies Before Senate Banking Committee on GSE Reform
Calls for strong, bank-like regulator and portfolio flexibility for Fannie Mae and Freddie Mac -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 03/07/2008
→ Primary Residential Mortgage, Inc. Posts Record Volume in February
Primary Residential Mortgage, Inc. (PRMI) has gotten off to a fast start in 2008. Year-over-year, loan volume is up 25%, and for the month of February, PRMI funded a record $178 million in correspondent volume, $23 million greater than the previous record. -- Primary Residential Mortgage, Inc.,Dave Zitting, 03/06/2008
→ Bankrate: A Topsy-Turvy Week for Mortgage Rates
Fixed mortgage rates posted a slight decrease in a wild up-and-down week, with the average conforming 30- year fixed mortgage rate now 6.32 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.39 discount and origination points. -- BankRate.com,Information,nEW yORK Ny 03/06/2008
→ HFF closes sale of and secures financing for southwest Houston retail center
The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of and secured financing for Sharpstown Court, an 84,188-square-foot retail center in southwest Houston. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Houston TX 03/06/2008
→ GenEquity Mortgage selects Guardian Mortgage Services (GMS) to Provide Outsource Fulfillment Services for Back Office Operations for New National Retail Operation
National relocation subsidiary uses proven mortgage fulfillment provider to realize cost savings, efficiencies in service more sophisticated technology -- Guardian Mortgage Documents, Inc.,Tim Anschutz,Lakewood Colorado 03/06/2008
→ SimplifileSM and Logan Systems Form eRecording Alliance
In an effort to deliver industry-leading eRecording services to their mutual customers, Utah-based Simplifile, LC and North Carolina-based Logan Systems, Inc. today announced that they have formed a strategic alliance for the purpose of integrating and cooperatively marketing Simplifile`s eRecording and Logan System`s County Records Management Systems. -- Simplifile, LC,Rob Moore,NC 03/06/2008
→ IAS Launches First Neighborhood Level Housing Price Volatility Index
“Intelligent Market Volatility Index” Provides Unprecedented Accuracy with Real-Time Real Estate Market Volatility Data -- Integrated Asset Services,Inc.,Broker Support,Denver Colorado 03/06/2008
→ Delinquencies and Foreclosures Increase in Latest MBA National Delinquency Survey
The delinquency rate for mortgage loans on one-to-four-unit residential properties stood at 5.82 percent of all loans outstanding in the fourth quarter of 2007 on a seasonally adjusted (SA) basis, up 23 basis points from the third quarter of 2007, and up 87 basis points from one year ago, according to MBA's National Delinquency Survey. -- Mortgage Bankers Association of America,Carolyn Kemp,Washington District of Columbia 03/06/2008
→ Hanley Investment (HI) Urban Retail Advisors Lists Landmark Los Angeles Location for $23,000,000
Historic Mixed-Use Retail/Office Investment Offered at 23-Story Condo Tower The Mercury -- Monaghan Communications,Edward Hanley,Irvine California 03/05/2008
→ Hanley Investment Group Represents Seller in Sale of $3,115,000 Multi-Tenant Strip Center in Brea, CA - Record Breaking Cap Rate of 4.7%
Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the sale of retail properties, announced today Jeremy S. McChesney and Edward B. Hanley of Hanley Investment Group represented the seller in the sale of a multi-tenant strip center in Brea, Calif. The purchase price was $3,115,000, representing a 4.7 percent cap rate. -- Monaghan Communications,Edward Hanley,newport beach California 03/05/2008
→ USA-Foreclosure.com, the nation’s only free online source for foreclosure listings, announced today that the site now hosts more than 10,000 homes available for auction.
“This is an exciting time for us at USA-Foreclosure.com,” said Chad Thornton, manager of the site. “Our growing database reflects the overwhelming increase in foreclosures throughout the United States. The site tracks local and regional foreclosure trends in varying real estate markets,” he added. -- Northwest Trustee Services, Inc.,Shannon Blood,BELLEVUE wa 03/05/2008
→ Department of Veterans Affairs Launches FIS-Developed Reporting Application for Mortgage Servicers
Supports largest regulatory revision in VA's history -- Fidelity National Information Services,Michelle Kersch,Jacksonville Florida 03/05/2008
→ Fidelity National Information Services Releases FIS Desktop 2008
Fidelity National Information Services, Inc. (FIS) today announced the release of FIS Desktop 2008, the most significant and comprehensive release of the company's workflow management system. -- Fidelity National Information Services,Michelle Kersch,Jacksonville Florida 03/05/2008
→ MBA's Kempner: HOPE NOW Study Demonstrates Sheer Volume of Troubled Borrowers Being Helped by Servicers Across the Country
Jonathan L. Kempner, President and Chief Executive Officer of the Mortgage Bankers Association (MBA), issued the following statement in response to the study released today by HOPE NOW which found that since July 2007 approximately 1,035,000 homeowners have received loan workouts that have enabled them to stay in their homes. The study also found that loan modifications made up nearly 50% of subprime loan workouts in January compared to 35% in the fourth quarter and 19% in the third quarter of 2007. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 03/05/2008
→ MBA Welcomes Senate Rejection of Bankruptcy Measure
David G. Kittle, CMB, Chairman-elect of the Mortgage Bankers Association (MBA) today applauded the U.S. Senate's vote to prevent debate from proceeding on a bill that would reform the bankruptcy code and increase costs for consumers to secure mortgages. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 03/05/2008
→ Mortgage Applications Increase In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 29, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 684.9, an increase of 3.0 percent on a seasonally adjusted basis from 665.1 one week earlier. On an unadjusted basis, the Index increased 15.3 percent compared with the previous President's Day holiday shortened week and was up 1.1 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 03/05/2008
→ Anti-Foreclosure Efforts to be Highlighted during Community Development Summit in Washington, DC:
WHO: The National Alliance of Community Economic Development Associations (NACEDA) aims to strengthen the CED field by advocating at the federal level for programs that bring jobs, affordable housing and economic development to low-income communities. -- National Alliance of Community Economic Development Associations (NACEDA,Jane DeMarines,Washington dc 03/05/2008
→ What the Banks & Mortgage Companies Won`t Tell You!
The revolutionary `Mortgage Freedom` loan. This product is not new, however not 1 in 500 people even know about it. This product will save you tens of thousands in interest and pay off your home in less than 10 years. -- Transcontinental Lending Group,Bruce Formhals,Orlando FL 03/05/2008
→ Mortgage Credit News - February 29, 2008
Mortgage rates have begun a decline from the irrational levels of the last month, now approaching 6.00% and says here likely to cross back into the fives. -- Boulder West Financial Services,Lou Barnes,Boulder Colorado 03/03/2008
→ Forecasting Your Staffing Needs for the Near Future
As the president of my recruiting firm, I see many human resources professionals needing to fill a vacant position spending hour after hour looking on sites like monster.com and careerbuilder.com, hunting and pecking for that elusive needle in a haystack. While that can be rewarding and inexpensive, it certainly does require much more time and effort, as well as a good neck and back massage. More importantly it takes away from administering benefits and nurturing and developing current employees. -- The EMAC Group,Jim McGrath,Lake Mary FL 03/01/2008
→ Employers and Recruiters Partnering in Harmony
As the president of my recruiting firm, I have great relationships with many of my clients. We partner in the true sense of the word; that is, they expect I will give them quality results in a timely fashion and I expect them to give me a fair price for my work. That being said, there are times when a prospective client doesn`t know my company very well, or the recruiting and staffing business in general. More than likely, they have heard negative things or had negative experience and unfortunately my employees and I bear the brunt of this unfortunate happenstance. What can we do to truly partner and move forward in this instance? -- The EMAC Group,Jim McGrath,Lake Mary FL 03/01/2008
→ The EMAC Group Launches New Website Devoted to Five Industries
Group, a recruiting and placement firm in the Orlando area since 2001, has launched its new website, www.emacjobs.com. `The EMAC Group got its start in the financial services industry with clients such as GMAC and Wells Fargo,` says Jim McGrath, President. `We have a great staff on board now, with expertise in specific industries who we will utilize and assist clients in those areas. It`s an opportunity for The EMAC Group to grow and branch into other natural extensions of recruiting in those vertical markets.` -- The EMAC Group,Jim McGrath,Lake Mary FL 03/01/2008
→ American Pacific Mortgage Introduces Partnerships With Key Investors
American Pacific Mortgage, a leading mortgage net branching company, today announced key investor partnerships that will significantly expand its mortgage banking platform. In addition to substantially increasing its warehouse capacity, the company has added Flagstar bank to its list of correspondent relationships. -- American Pacific Mortgage Corp,Melissa Arntzen,Roseville California 02/29/2008