Mortgage Banking September 30, 2008

→   Residential Finance Appoints Jessica Manna as Vice President, Chief Marketing Officer
Accomplished Marketing Executive Appointed to Lead Marketing Strategy and Brand Development for Fast-Growing Mortgage Banking Firm -- Residential Finance Corporation,Info,COLUMBUS OH  09/17/2008



→   Federal Conservatorship of Fannie Mae and Freddie Mac
Federal Conservatorship of Fannie Mae and Freddie Mac In the wake of the Federal Conservatorship of Fannie Mae and Freddie Mac, we at MIAC generally expect a `business as usual` environment. However,. there are nuances to the terms of the conservatorship that may produce micro-level changes, as well as some macro-level changes to the landscape of the industry in the near-term. While we await clarity on the implementation of these nuances, this Special Edition of MIAC Perspectives identifies a few areas for continued discussion, observation, and focus to determine what might happen, along with our recommendations for how mortgage bankers can best position themselves going forward...Read Article. For further information on MIAC, please visit www.MIACAnalytics.com. -- Mortgage Industry Advisory Corp.,Dan Thomas,New York New York  09/11/2008



→   Wachovia, Midland/PNC, Capmark and Wells Fargo Top Mid-Year Rankings of National Commercial/Multifamily Servicing Volumes
The Mortgage Bankers Association (MBA) today released its mid-year ranking of commercial and multifamily loan servicers as of the end of June 30, 2008. On top of the list of firms is Wachovia Securities with $434.3 billion in U.S. master and primary servicing, followed by Midland Loan Services/PNC Real Estate Finance with $273.8 billion, Capmark Financial Group, Inc. with $258.3 billion and Wells Fargo Bank with $179.5 billion. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia  09/04/2008



→    Fair Isaac Insights: How Can Fraud Models Combat New Tricks?
A “bolt-on” adaptive model layer, which self-learns new fraud patterns, boosts detection by nearly 20% in recent test. -- Fair Isaac Corporation,Rachel Carawan,Minneapolis Minnesota  09/04/2008



→   Pennsylvania to Join Nationwide Mortgage Licensing System
Secretary of Banking Steve Kaplan said today that Pennsylvania is among the 20 states that will join the Nationwide Mortgage Licensing System this year. -- Pennsylvania Department of Banking,Dan Egan,HARRISBURG PA  09/02/2008



→   RBS Enhances Mortgage Group Amid Broad Expansion
Scott Eichel and David Cannon Named Co-Heads of Growing Team That Includes 16 New Professionals -- RBS Greenwich Capital,Peter Ward,GREENWICH cyt  09/02/2008



→   American Pacific Mortgage Makes Big Impact at CAMB Annual Convention
"Despite the black cloud hanging over the mortgage industry, the California Association of Mortgage Brokers (CAMB) annual convention, held August 6th-9th in Sacramento, was a success," says Kurt Reisig, CEO of American Pacific Mortgage Company. "To have a forum like this; that mortgage brokers can come together and collaborate, and share survival strategies is vital. I believe in and support what CAMB is doing for our industry, that is why it was important to me that American Pacific Mortgage contribute as much as possible." -- American Pacific Mortgage Corp,Melissa Arntzen,Roseville California  09/02/2008



→   Legislature Passes Mortgage Reform Bill Contains important reforms, but omits critical pieces
AB 1830, the California legislature's strongest piece of legislation designed to rein in the abuses in the mortgage market, passed the Senate today with a 21-16 vote. It must go back to the Assembly for concurrence before being sent to the governor. -- Center for Responsible Lending,Kathleen Day,OAKLAND ca  09/02/2008



→   Capmark® Partners with CampusMBA to Certify
U.S. Commercial Servicing Staff in the United States, Ireland and India -- Mortgage Bankers Association of America,Aleis Stokes,Washington District of Columbia  08/27/2008



→   RealEC Technologies Selected by Flagstar Bank to Provide Automated Appraisal Management Solutions
RealEC Technologies Inc., the mortgage industry's leading provider of collaborative network solutions, today announced it has entered into an agreement with Flagstar Bank for RealEC's suite of appraisal management solutions, which provides greater automation in Flagstar's wholesale and retail channels of origination. -- RealEC Technologies,Information,SANTA ANA ca  08/26/2008



→   MBA Releases White Paper Outlining Fundamental Data Management Concepts for the Real Estate Finance Industry
The Mortgage Bankers Association's (MBA) Residential Technology Steering Committee (RESTECH) today released a white paper that details the key fundamental concepts of industry data management, one of the most important components in the mortgage banking process. The goal of the paper is to provide an overview of fundamental strategies for assessing and improving overall data management practices while also providing measurement benchmarks and references. -- Mortgage Bankers Association of America,Aleis Stokes,Washington District of Columbia  08/26/2008



→   MBA Names Brinkmann Chief Economist
The Mortgage Bankers Association today announced that Jay Brinkmann has been named the organization's Chief Economist and Senior Vice President for Research and Economics. Brinkmann has been with the MBA since 2001 and has served as the organization's Vice President of Research for most of that period. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia  08/26/2008



→   SearchMyLoan.com Announces Partnership with CMG Mortgage
SearchMyLoan.com (SML), a provider of loan search and pricing services for the mortgage industry, announced a strategic alliance with San Ramon, Calif.-based CMG Mortgage, a national lending firm providing both mortgage banking and mortgage brokerage services. -- SearchMyLoan.com,Info,PORT WASHINGTON NY  08/25/2008



→   Intellidyn Expands Award Winning Lead Incubation Solution, with Cost-per-Funded-Loan Below $100
Lenders use automated, situation-generated and personalized emails to build relationships and convert previously overlooked or cold prospects into funded loans -- Intellidyn.com,Gene Devine,Boston MA  08/25/2008



→   NEW PROGRAM ENSURES THE PROVISION OF UNBIASED ADVICE ON MORTGAGES AND LIABILITIES
Financial Crossing`s Independent Advisor Program promotes ethical lending, offers much-needed tools to optimally manage all of a borrowers` liabilities -- Financial Crossing, Inc.,Info,Palo Alto ca  08/25/2008



→   Mortgage Credit News - August 22, 2008
Mortgage rates bottomed again at 6.50%, as they have since May, maintaining a consistently wide spread to the 10-year T-note, likewise bottomed at 3.80%. It will take a substantial negative economic event or news to break below these rates. -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado  08/25/2008



→   The Risk Management Association and Automated Financial Systems’ Risk Analysis Service Metrics Show Further Deterioration in U.S. Middle Market Credit Quality
The industry’s credit risk benchmark revealed no sign of relief as nonaccruals, delinquencies continue to rise -- The Risk Management Association,Meg McBride,Philadelphia PA  08/19/2008



→   American Home Mortgage Servicing, Inc. Services Approximately 475,000 Loans on Lender Processing Services, Inc.'s MSP
Implements LPS Desktop for Workflow Management -- Lender Processing Services,Michelle Kersch,JACKSONVILLE Fl  08/19/2008



→   FICS’ Servicer Solutions Provide Users a Direct Method for Reporting to Ginnie Mae’s Reporting and Feedback System
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 its residential mortgage loan servicing system, Mortgage Servicer™ and its commercial mortgage loan servicing system, Commercial Servicer®, now have the ability to report directly to the Government National Mortgage Association (Ginnie Mae) via Ginnie Mae’s new Reporting and Feedback System (RFS). -- FICS Group,Kelly Graham,Dallas TX  08/19/2008



→   Mortgage Applications Decrease Slightly In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 8, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 425.9, a decrease of 1.5 percent on a seasonally adjusted basis from 432.6 one week earlier. On an unadjusted basis, the Index decreased 2.2 percent compared with the previous week and was down 36.9 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia  08/18/2008



→   Mortgage Credit News - August 15, 2008
Mortgage rates are falling, almost 6.50% with the lowest fees. All other interest rates are headed down as well, on glide path parallel to the global economy: the 10-year T-note to 3.83% (traded 4.10% only a week ago), and the 2-year down to 2.37% acknowledges zero probability of a Fed rate hike from its current 2% overnight rate. -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado  08/18/2008



→   ELLIE MAE ADDS FIRST AMERICAN CORELOGIC’S PROPERTY PAK TO ITS ONLINE ENCOMPASS APPRAISAL CENTER
One-stop solution adds accuracy and saves time as appraisers receive detailed appraisal orders and property information online -- Ellie Mae Inc.,David Lewis,Pleasanton California  08/18/2008



→   MBA Study Shows Government-Insured Share of Mortgage Applications for July Tripled in the Past Year
The government-insured share of mortgage applications tripled in the past year according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. Of all mortgage applications accepted during the month of July 2008, 29.1 percent were for government-insured loans (consisting of mostly FHA loans) compared to 8.4 percent in July 2007. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  08/18/2008



→   Mortgage Credit News - August 8, 2008
Mortgage rates are a hair lower, under 6.75% now, but spreads to Treasurys have widened despite overt Treasury backing of Fannie and Freddie. -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado  08/08/2008



→   Mortgage Applications Slightly Increase In Latest MBA Weekly Survey
-- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  08/06/2008



→   MISMO® Completes Milestone Two of Version 3.0
Industry Continues to make progress on MISMO's Version 3.0 Architecture -- Mortgage Bankers Association of America,Aleis Stokes,Washington District of Columbia  08/05/2008