Mortgage Banking November 30, 2008
→ National Association Of Black Mortgage Brokers Attribute Drop In October Home Sales To Lack Of Homeownership Programs
Call for Reinstatement of Seller-Funded Downpayment Assistance -- ,Brian Morris, 11/28/2008
→ MBA Study Shows Government-insured Share Of Mortgage Applications Continues To Increase
The government-insured share of mortgage applications continues to grow relative to conventional mortgage applications, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. Of all mortgage applications taken during the month of October 2008, 32.9 percent were for government-insured loans (consisting mainly of FHA loans) compared to 10.3 percent in October 2007. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 11/27/2008
→ MBA's Courson Issues Statement On Obama Economic Team
John A. Courson, Chief Operating Officer of the Mortgage Bankers Association (MBA) today issued the following statement following President-elect Obama's announcement of his economic team. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 11/27/2008
→ Mortgage Applications Increase Slightly In Latest MBA Weekly Survey
-- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 11/27/2008
→ Credit News - November 26, 2008
Extra!! Big News, Greater Thanks Extra!! -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado 11/27/2008
→ LoanSifter Interfaces with Zillow.com
-- LoanSifter (www.loansifter.com) today announces that it has integrated into Zillow Quote API, an automated programming interface on Zillow Mortgage Marketplace (www.zillow.com/mortgage), a free lead service that allows participating lenders to automate custom quotes to anonymous borrowers who submit loan requests. The interface offers a perfect complement to LoanSifter, a premier product and pricing solution that offers more than 100 wholesale and correspondent investors' fast and simple best-execution pricing, automatically priced fliers and marketing materials, 100% customizable and SRP pricing, automated consumer quoting for lead generation, custom e-mail pricing campaigns for borrowers and referral sources, and rate trigger alters to monitor pipeline in real time. -- LoanSifter,Pam Selker,Little Chute Wi 11/24/2008
→ Freddie Mac Suspends All Foreclosure Sales of Occupied Homes From Day Before Thanksgiving Until January 9, 2009
Freddie Mac (NYSE:FRE) today announced it has ordered its national network of mortgage servicers and foreclosure attorneys to suspend all foreclosure sales and evictions involving occupied single family and 2-4 unit properties with Freddie Mac-owned mortgages between November 26, 2008 and January 9, 2009. The suspension will help servicers implement the Streamlined Modification Program recently announced by Freddie Mac, Fannie Mae, the Federal Housing Finance Agency (FHFA), HOPE Now and 27 mortgage servicers. The temporary suspension is also expected to give servicers more time to help borrowers avoid foreclosure. -- Freddie Mac,Brad German,Mclean Va 11/24/2008
→ Mismo®, Esra And Alta Release White Paper Confirming The Legality Of Enotes
MISMO, the not-for-profit data standards subsidiary of the Mortgage Bankers Association (MBA), today released a joint white paper along with the Electronic Signature and Records Association (ESRA) and the American Land Title Association (ALTA), entitled Case Closed: eNotes Are Legal -- An Analysis of eNote Enforceability Nationwide. The white paper addresses the legality of electronically-signed promissory notes, commonly referred to as eNotes, which are central to the eMortgage process. -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia 11/24/2008
→ Ellie Mae/online Documents Make Strong Entry Into Servicing Market With Loan Modification Solution
Ellie Mae, a leading provider of loan processing software for mortgage brokers, bankers and other third party originators, and its newly acquired subsidiary Online Documents, a leading provider of flexible, compliant electronic mortgage documents and related services to the mortgage industry, are answering the industry’s need for efficient loan modification with a collaborative, end-to-end solution that enables lenders to create and update loan modification closing packages on a real-time basis, while also meeting investor requirements with flexibility, complete accuracy and secure online delivery. -- Ellie Mae Inc.,David Lewis,Pleasanton California 11/20/2008
→ MBA's Courson Welcomes Additional Flexibility On Fha's Hope For Homeowners Program
John A. Courson, Chief Operating Officer of the Mortgage Bankers Association (MBA), today issued this statement following the announcement by Secretary of Housing and Urban Development (HUD) Steve Preston of changes to the Hope for Homeowners program to expand eligibility and lower costs on borrowers and lenders who participate. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 11/20/2008
→ Realtors(R) Against Full Privatization of Fannie Mae and Freddie Mac
To insure that there is sufficient capital to support mortgage lending to qualified borrowers, the National Association of Realtors(R) has adopted principles that recommend continued government involvement in the secondary mortgage market. -- National Association of Realtors,Mary Trupo,Washington Dc 11/20/2008
→ Mortgage Rate Volatility Tapers Off: Rates Stay Relatively Stable During Latter Part of Last Week
Rates Hover Around 6 Percent, According to Zillow(R) Mortgage Rate Monitor -- Zillow.com,Katie Curnutte,Seattle Wa 11/20/2008
→ Outreach Housing LLC Cautions Homeowners Against Waiving Rights in Loan Modification Programs
As the Bush Administration unveils a potentially extensive new program to modify mortgages, one organization remains skeptical -- and urges distressed homeowners to proceed with caution. -- Outreach Housing LLC,Blair Wright,Fort Lauderdale Fl 11/20/2008
→ Webster Suspends Home Foreclosures
Will Work to Structure New Affordable Payment Plans, Reach Out to At-Risk Customers -- Webster Financial Corporation,Ed Steadham,Waterbury Ct 11/20/2008
→ Tavant Technologies Teams With Fifth Third Bank to Deploy Tavant's Consumer Direct Lending Platform
Consumer Connect, a direct-to-consumer online lending website goes live -- Tavant Technologies,Vibhor Mishra,Santa Clara Ca 11/20/2008
→ First American Creates Two New Business Line Solutions: Valuation and Property Solutions and Outsourcing and Technology Solutions
- Step Toward "One-firm" Vision Brings Together Multiple Companies to Meet Client and Market Needs - -- The First American Corporation,Carrie Gaska,Santa Ana Ca 11/19/2008
→ Texas Residential Mortgage Law Firm Polunsky & Beitel, LLP Adds New Director of Business Development
Mortgage industry veteran Amy Coke assisting residential lenders -- Polunsky & Beitel, LLP,Amy Coke,Dallas Tx 11/19/2008
→ Texas Residential Mortgage Law Firm Polunsky & Beitel, LLP Adds New Director of Business Development
Mortgage industry veteran Amy Coke assisting residential lenders -- Polunsky & Beitel, LLP ,Amy Coke,Dallas Tx 11/19/2008
→ Lender Processing Services, Inc. to Present at Bank of America Credit Conference
Lender Processing Services, Inc. (NYSE:LPS) , a leading provider of integrated technology and services to the mortgage industry, today announced that its President and Chief Executive Officer, Jeff Carbiener, is scheduled to present at Bank of America`s Credit Conference on Thursday, November 20 at 10:30 am ET. Investors may access a live webcast of the presentation by logging onto www.lpsvcs.com. -- Lender Processing Services, Inc. ,Parag Bhansali,Jacksonville Fl 11/19/2008
→ Lender Processing Services Announces New Mass Loan Modification Solution
RediMod Improves Servicers` Ability to Help Delinquent and At-Risk Borrowers -- Lender Processing Services,Michelle Kersch,Jacksonville Fl 11/19/2008
→ Generation Mortgage Offers Additional Peace Of Mind To Senior Home Owners
New Government Regulations Increase Lending Limits Nationwide ATLANTA, -- ,Kimberly Kerrigan,Atlanta Ga 11/19/2008
→ Allied Home Mortgage Implements Automated Compliance Controls Across Hundreds Of Branches With Complianceease Solutions
- One of the nations largest mortgage broker networks automates its compliance risk management with state-of-the-art technology - -- Complianceease,John Vong,San Francisco 11/19/2008
→ Mortgage Applications Decrease In Latest MBA Weekly Survey
-- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 11/19/2008
→ The Risk Management Association And Automated Financial Systems` Risk Analysis Service Third Quarter Metrics Reflect Continued Deterioration In U.s. Middle Market Credit Quality
Non-current loan levels reach 5 year highs -- The Risk Management Association,Meg McBride,Philadelphia Pa 11/19/2008
→ Basepoint`s New Identity Theft Risk Survey Empowers Consumers Before Black Friday And Holiday Shopping Season
A new Identify Theft Risk Assessment is now available FREE to consumers who want to understand if they are at risk for identity theft. The online survey empowers consumers by calculating their individual “risk score.” -- BasePoint Analytics,Info,CARLSBAD ca 11/19/2008
→ MBA's Kittle Testifies Before Senate Judiciary Committee
Says Bankruptcy Cramdown Will Increase Costs for All Borrowers -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 11/19/2008
→ Rma Announces Key Findings From The Survey On Stress Testing And Scenario Analysis Practices
Stress test results are most widely incorporated into the individual and portfolio lending decisions, concentrations and limits setting, and the allowance for loan and lease losses. The results are not being utilized fully in strategic planning or capital planning. -- The Risk Management Association,Meg McBride,Philadelphia Pa 11/13/2008