Prof Annoucements November 30, 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
→ Ohfa`s Ohio Heroes Program Gives 1,000 Homebuyers Something To Be Thankful For This Year
Many Ohioans have more to be thankful for this year with the help of the Ohio Heroes program from the Ohio Housing Finance Agency (OHFA). This week the Agency achieved a major milestone with the closing of the 1,000th mortgage loan from the program since it began March 3, 2008. -- Ohio Housing Finance Agency,Erin Biehl,Columbus Ohio 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
→ Affiliated Business Model Offers Information Real Estate Consumers Crave, Says RESPRO Panel
With many potential home buyers sitting on the sidelines as they try to make sense of today's real estate market, the integrated sales process offered by diversified companies using the Affiliated Business model helps keep buyers accurately informed and eases their uncertainty. -- Real Estate Services Provider Council,Sue Johnson,New Orleans La 11/24/2008
→ 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
→ Fannie Mae to Suspend Foreclosures Until January 2009 While Streamlined Modification Program is Implemented
In order to support the streamlined modification program announced on November 11, 2008, Fannie Mae (NYSE:FNM) today issued a notice to its loan servicing organizations and retained foreclosure attorneys directing them to suspend foreclosure sales on occupied single-family properties as well as the completion of evictions from occupied single-family properties scheduled to occur from November 26, 2008 until January 9, 2009. -- Fannie Mae,Brian Faith,Washington Dc 11/24/2008
→ Center for Responsible Lending and Industry Groups Urge HUD to Extend an Existing Option to Help Alleviate Current Crisis
-- CRL has signed a joint letter with the American Bankers Association and other industry trade associations asking the Department of Housing and Urban Development to continue the FHASecure program at least through the end of next year. Extending the program, which otherwise will sunset in December of this year, is one of several vital steps federal officials and lawmakers must take to keep millions of families in their homes, and, in the process, stem the wave of foreclosures that are at the root of the country's economic crisis. A full copy of the letter follows. -- Center for Responsible Lending,Kathleen Day,Washington Dc 11/24/2008
→ Introducing the First Nationwide Program to 'Green' Foreclosed Properties
Viridian Asset Management, LLC (http://www.viridianasset.com/) today announced the national launch of its groundbreaking BankonGreen(TM) program designed to bring "green," energy-efficient rehabilitation to properties owned by banks and financial institutions. -- Viridian Asset Management, LLC,c Shelton,Atlanta Ga 11/24/2008
→ Fidelity National Financial, Inc. Announces the Termination of Definitive Merger Agreement with LandAmerica Financial Group, Inc.
Fidelity National Financial, Inc. (NYSE:FNF) today announced the termination of its definitive merger agreement with LandAmerica Financial Group, Inc., pursuant to its contractual due diligence termination right. -- Fidelity National Financial, Inc.,el Kennedy Murphy,,Jacksonville Fl 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
→ 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
→ 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
→ The Bank of New York Mellon Launches New Service for Credit Opportunity Funds
The Bank of New York Mellon, the global leader in asset management and securities servicing, has launched an enhanced credit fund service for alternative fund managers that combines loan administration, fund administration and investor services in one complete solution. -- Bank of New York Mellon Corporation,Kevin Heine,New York Ny 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
→ ResCap Announces Support for Streamlined Mortgage Modification Plan
The following statement is issued by Residential Capital, LLC Chairman and Chief Executive Officer Thomas Marano in response to the Streamlined Mortgage Modification Plan announced on Nov. 11, 2008. -- Residential Capital, LLC,Jeannine Bruin,Fort Washington Pa 11/19/2008
→ a la mode Announces New IDX Product
a la mode, inc. (http://www.alamode.com/), one of the real estate industry's largest and most mission critical technology companies, announced today that it will release a new IDX product for real estate agents. IDX, or "Internet Data Exchange", is a way for real estate brokers and their agents to display all of the local MLS's listings on their own websites, with the hosting broker's contact information shown instead of the listing broker's. -- a la mode, inc. ,Alonso Portillo,Oklahoma City Ok 11/19/2008
→ 'Avoid Foreclosure by Taking-Out a Reverse Mortgage!' Says Reverse Mortgage Expert & Author, Scott Tucker!
'And you'll never have to make another mortgage payment for the rest of your life!' -- ReverseMortgageGuest.com ,Scott Tucker, 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
→ Lend America Provides Progress Update On H4h Institutional Investor Program And Demonstrates Further Commitment To The Government`s Hope For Homeowners Program By Launching Direct-to-consumer H4h Platform
300 H4H mortgage specialists now trained and certified to handle `Structured Refinances` -- LendAmerica,Mary McPhall,Melville NY 11/19/2008
→ Netmore America Appoints Susan King New Regional Vice President Western Region To Further Expand Production Volume And Geographic Penetration
NetMore America, Inc. (“NetMore”), an expanding next generation mortgage banker, announced today the hiring of Susan King as Regional Vice President Western Region to help manage the Company’s growth and further expand NetMore’s production volume and geographic penetration throughout the Western United States. Ms. King brings to this new position more that 16 years of combined sales and management experience in both the mortgage industry as well as the title and escrow industries. -- NetMore America, Inc. (NetMore),Info,WALLA WALLA wa 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
→ Ex-landamerica Executives Select Ramquest
RamQuest Software, Inc., a recognized leader in the land title software industry, announced today that OFTA, LLC, parent company of Transnation Title Agency of Michigan, has selected RamQuest’s Complete Closing Enterprise Professional as the company’s title and closing production solution. OFTA, LLC consists of former LandAmerica executives who purchased LandAmerica’s direct operations in Western Michigan earlier this year. -- RamQuest Software, Inc.,Erin McAnally,Plano tx 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
→ 2008 Ohio Housing Conference `uniting For Tomorrow` To Address Key Issues Impacting Affordable Housing In Ohio
Housing professionals from across Ohio and the nation will join together at one of the largest statewide annual housing conferences in the country beginning today to discuss affordable housing at the local, state and national levels. -- Ohio Housing Finance Agency,Erin Biehl,Columbus Ohio 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
→ Investec Breaks Ground on Gene Autry Plaza, a New $17.5 Million Shopping Center in Palm Springs Anchored by Smart & Final and Staples
Investec Real Estate Companies will break ground on Gene Autry Plaza, a new 60,000 sq. ft. shopping center in Palm Springs, Calif. The new ground-up $17.5 million development, which is located at the southeast corner of Ramon and Gene Autry Trail (Highway 111), will feature Smart & Final and Staples, 11,500 sq. ft. of shop space, and a bronze statue of Gene Autry. Completion is expected in April 2009. The addition of Gene Autry Plaza to Investec`s retail portfolio brings the company`s total to more than 2,000,000 sq. ft. of retail space in California, valued at over $600 million. -- Monaghan Communications,Anne Monaghan,newport beach California 11/18/2008
→ Cogent Road Launches Recovery Strategy - Enables Loan Officers To Retain And Close More Applicants -
Cogent Road, a provider of Internet-based applications for the mortgage industry, announced the launch of Recovery Strategy, a system enabling loan officers to recover and qualify initially declined applicants to help maximize their borrowing power. -- Cogent Road, Inc.,Information,SAN DIEGO ca 11/13/2008