Mortgage Lending April 30, 2008
→ Certified Debt Settlement Services Program
Do you need debt help? We have a fair and attorney based service to end and crush your debts nearly in half. Go to our signup form at www.certifieddebt.com for a debt free analysis -- Certified Debt, LLC,Ryan Epper,Birmingham Alabama 04/30/2008
→ UK SEO Company Launches New Pay As You Go SEO Service
Micrositez SEO Studio Celebrates Launch of `Pay As You Go SEO` -- Micrositez SEO Studio UK,Information,Glasgow LANARKSHIRE 04/29/2008
→ Interactivity - Future of Quality Mortgage Confirmations
Mortgage Bankers and Portfolio Managers Seek Interactivity Software -- Inter Continental,Inter Continental,Lees Summit Missouri 04/27/2008
→ Fast Appraisals
Fats Appraisals, CONV, FHA and Flagstar approved -- ,Robert Sullivan,The Woodlands TX 04/26/2008
→ North Carolina and National Consumer Advocacy Groups Release Report Calling for Responsible Bank Practices and Assistance for Families at Risk of Foreclosure
One day before the shareholders of America`s biggest bank are set to meet, consumer advocacy organizations from North Carolina and around the country held a `Real Stakeholders` Meeting` to talk about the nation`s credit and foreclosure crisis and its affect on families. -- CRA-NC,Peter Skiller,Charlotte NC 04/25/2008
→ Mortgage Servicing Litigation Grows
Rising delinquencies, bankruptcies and foreclosures left mortgage servicers fighting more legal actions, according to the First Quarter 2008 Mortgage Litigation Report released by http://www.mortgagedaily.com/. The report, based on cases covered by MortgageDaily.com, was prepared in conjunction with the law firm of Weiner Brodsky Sidman Kider PC, which is known as a leader for its work in mortgage banking litigation. -- MortgageDaily.com,Sam Garcia,Irving Texas 04/25/2008
→ Database Asset Sale
-- Deal Direct LLC,Joseph Bisconti,Sarasota, FL fl 04/25/2008
→ Clickandgoloans.com TO TAKE ON 10,000 NEW LOAN OFFICERS BY THE END OF THE YEAR
clickandgoloans.com a new upstart loan originator and branch will take on up to 10,000 new independent loan officers before the end of the year. -- Clickandgoloans,Grady Jones,Franklin Va 04/25/2008
→ Internet Fax Case Study - Mortgage Alliance Canada
Obtaining a mortgage is one of the most paperwork-intensive endeavors that people will ever undertake. And for good reason. Before a lending institution is willing to hand over large sums of money, they want reasonable assurance they will be getting that money back, along with the interest that forms their revenue. To provide that assurance, applicants are expected to provide a wealth of financial information about themselves, essentially laying bare their lives for detailed scrutiny. -- Protus™ IP Solutions,Info,Canada 04/25/2008
→ ICBA Urges Quick Passage of First-Time Homebuyer Tax Credit
Washington, D.C. With new data showing home prices and sales continuing to plummet, the Independent Community Bankers of America (ICBA) urged Congress to quickly pass a first-time homebuyer tax credit as part of the pending economic stimulus legislation advancing in Congress. In March, the year-over-year median home price declined by the largest amount in nearly four decades, while home sales plunged to a 16-1/2 year low. -- The Independent Community Bankers of America,Bill Grassano,Washington dc 04/25/2008
→ Congressman Steve Israel Outlines Support for Plan to Help Ease Mortgage Crisis
“Appreciating America” Provides National Mortgage Relief Solution For Homeowners and Lenders -- Refinance.com,Info,New York NY 04/25/2008
→ CrossCheck Compliance Adds BasePoint FraudMark® Score to Reinvent Loan Due Diligence
Integrates pattern recognition technology to identify fraud risk before purchase/funding -- BasePoint Analytics,Info,CARLSBAD ca 04/25/2008
→ Lydian Data Services and Financial Crossing Announce Partnership That Delivers Turnkey Liability Management and Mortgage Fulfillment Solution
Partnership provides users with seamless service from planning to full execution
and delivery of mortgage products. -- Financial Crossing, Inc.,Info,Palo Alto ca 04/24/2008
→ In Tight Credit Market, Old Insurance Policies May be Key to Buying New Home
Consumers Turn to Creative Financing Methods to Obtain Their Dream Home -- TheBestHomesSanDiego.com,Information,SAN DIEGO ca 04/24/2008
→ Blunt: Republican Plan Addresses Uncertainty in Housing Market Without Bailing Out Speculators
U.S. Reps. Spencer Bachus (R-Ala.), Shelley Moore Capito (R-W.Va.), and Judy Biggert (R-Ill.) introduced legislation co-sponsored by House Republican Whip Roy Blunt (Mo.) designed to address the uncertainty in our nation's housing market during today's House Financial Services Committee hearing. -- Bill Draving Company, Inc.,Bill Draving,Washington DC 04/24/2008
→ Freddie Mac Names Sturgis Bank & Trust Company Subsidiary Oak Mortgage LLC as one of the Nation's Top Mortgage Servicers
Sturgis Bancorp, Inc. (BULLETIN BOARD: STBI.OB) , holding company for Sturgis Bank & Trust Company and its subsidiary Oak Mortgage, LLC, announced today Oak Mortgage, LLC was recently awarded Freddie Mac's prestigious 2007 Tier One Gold performance ranking for excellence in investor reporting and default management. Oak Mortgage was one of 26 mortgage servicing companies nationwide to meet this standard, according to Freddie Mac, one of the nation's largest investors in residential mortgages. There are approximately 1,500 lenders nationwide servicing loans for Freddie Mac. -- Sturgis Federal Savings Bank,Information,Sturgis Michigan 04/24/2008
→ Rust Consulting, Inc. Forms Subprime Task Force
Rust Consulting, Inc. has formed a task force comprising experts from among its antitrust, consumer finance, labor and employment, regulated and securities practice areas to prepare for the unique challenges that are anticipated as a result of the subprime mortgage crisis. -- Rust Consulting, Inc,Jennifer Huart,MINNEAPOLIS mn 04/24/2008
→ Home Appraisal Rules May Negatively Affect Consumers
Proposed home appraisal rules will drive up costs for homeowners and limit their choices -- CMPS Institute,Josephine Nicholas, 04/24/2008
→ Myers Internet Announces Partnership With Mortgage Market Guide
Myers will be the exclusive distributor of the Consumer Market Update -- A-1 Loan World,Tara Jensen,MILWAUKEE WI 04/24/2008
→ Surviving the Lending Crisis - Communication Strategies for Success
As the country struggles to combat the repercussions of one of the largest lending crises in history, mortgage and consumer lending businesses search for the most effective ways to influence late-payment customers and avoid business catastrophe. Tomorrow's success will rely on planning strategies that ensure a long-term competitive advantage. -- Varolii Corporation,Robin Rees,SEATTLE, wa 04/24/2008
→ Foreclosure Shorts
Latest articles on Foreclosures -- Bill Draving Company, Inc.,Bill Draving,San Antonio Texas 04/24/2008
→ Fair Isaac Insights: Closing the Value-Price Gap in PPC Advertising
Read the Fair Isaac Insights paper, `Closing the Value-Price Gap in PPC Advertising` Leading companies in many industries, including financial services, telecommunications and retail, are flocking to search engine marketing and other pay-per-click (PPC) advertising opportunities. But are they getting their money`s worth? -- Fair Isaac Corporation,Rachel Carawan,Minneapolis Minnesota 04/24/2008
→ Lenders can now reduce costs while raising loan quality, investor confidence with outsourced fulfillment of loans, compliance/document services
MRG Forms Alliance with Lydian Data Services for Outsourcing Origination Fulfillment Lenders can now reduce costs while raising loan quality, investor confidence with outsourced fulfillment of loans, compliance/document services MRG Document Technologies (MRG), a provider of compliance and documentation services for the financial industry, announced an alliance with Boca Raton, Fla.-based Lydian Data Services, a leading provider of end-to-end outsourcing services for all aspects of the mortgage operation, from origination to delivery and post-closing quality control. -- Lydian Data Services,Philippe Turpault,Dallas TX 04/23/2008
→ Energy Central Article Type E2 Woman...Marriage Between a Woman and a Career in Energy
-- AdamsGardner Executive Search,Connie Kelley,Houston Texas 04/23/2008
→ Cogent Road Gains 245 New Corporate Customers in First Quarter of 2008
- Customer gains linked to release of Funding Suite’s Intelligent Credit Report in November ‘07 - -- Cogent Road, Inc.,Information,SAN DIEGO ca 04/23/2008
→ NYLX APPOINTS NEW MEMBER TO BOARD OF DIRECTORS
Company plans to leverage Tom I. Unterberg’s vast experience in investment management and capital markets to continue its triple digit growth -- NYLX,Info,Mt. Arlington New Jersey 04/23/2008
→ HFF arranges $74 million financing for Trolley Square in Salt Lake City, Utah
The Portland office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged $74 million in financing for Trolley Square, a four-building upscale lifestyle center in Salt Lake City, Utah. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,PORTLAND or 04/23/2008
→ $117.65 million in financing secured by HFF for 2.7 million square feet of industrial space
The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured $117.65 million in financing for two industrial portfolios totaling approximately 2.7 million square feet in Arizona, California, New Jersey and Washington. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,DALLAS tx 04/23/2008
→ HFF secures $5.15 million refinancing for Creekside Estates in Vancouver, Washington
The Portland office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured a $5.15 million refinancing for Creekside Estates, a 188-pad manufactured housing community in Vancouver, Washington. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,PORTLAND or 04/23/2008
→ The One Key to Help Congress Solve the Housing and Foreclosure Crisis
What Congress can and should do to help solve the housing, mortgage and foreclosure crisis -- CMPS Institute,Josephine Nicholas,Ann Arbor mi 04/23/2008
→ Ocwen Financial Corporation Selects BasePoint FraudMark™ Score to Stop Mortgage Fraud
Leverages predictive analytics to effectively pinpoint risky loans for due diligence on loan pools -- Ocwen Financial Corp,Michael Short,West Palm Beach Florida 04/23/2008
→ CAMBRIDGE REPORTS PROCESSING 92 LOAN ORIGINATION REQUESTS IN FIRST QUARTER
Cambridge Realty Capital Companies reports processing 92 loan origination requests during the first quarter of 2008, or almost exactly the same number processed by the company during the same quarter in 2007. -- Cambridge Realty Capital Ltd,Evan Washington,Chicago Illinois 04/23/2008
→ CampusMBA Releases Timely and Comprehensive Loss Mitigation Workshop for Industry Professionals
CampusMBA, the award winning education division of the Mortgage Bankers Association (MBA), today announced that it has released a comprehensive, instructor-led loss mitigation workshop for industry professionals. CampusMBA's creation of the workshop comes at a time when the real estate finance industry is seeing unprecedented interest for loss mitigation training as it responds to current market conditions. -- Mortgage Bankers Association of America,Aleis Stokes,Washington District of Columbia 04/23/2008
→ MBA and CMSA Oppose Creating Different Credit Rating Process for Structured Securities
The Mortgage Bankers Association (MBA) and the Commercial Mortgage Securities Association (CMSA) joined with the Real Estate Roundtable and the National Association of Realtors® to send a letter to Senate Banking Committee Chairman Christopher Dodd and Ranking Member Richard Shelby opposing proposals to differentiate between ratings for structured finance products and ratings for other asset classes, such as corporate and municipal bonds.
The letter, sent to Senators Dodd and Shelby today, in advance of a Senate Banking Committee hearing tomorrow on Turmoil in U.S. Credit Markets: The Role of the Credit Rating Agencies, warns that differentiating between ratings would only serve to further erode investor confidence and threaten an already fragile economy. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 04/23/2008
→ Mortgage Applications Decrease In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending April 18, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 637.6, a decrease of 14.2 percent on a seasonally adjusted basis from 743.4 one week earlier. On an unadjusted basis, the Index decreased 13.4 percent compared with the previous week and was down 3.2 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Carolyn Kemp,Washington District of Columbia 04/23/2008
→ Senate Banking Committee Chairman Discusses Industry Concerns on Rating Agency Reforms with SEC Chairman
The Senate Banking Committee yesterday held a hearing to discuss turmoil in the U.S. credit markets and the role of the credit rating agencies. During questioning with Chairman Christopher Cox of the Securities and Exchange Commission, Senate Banking Committee Chairman Dodd raised concerns regarding a proposal to provide a separate rating category for structured securities and referenced an April 21, 2008 joint letter from the Mortgage Bankers Association (MBA), the Commercial Mortgage Securities Association (CMSA), and The Real Estate Roundtable warning that differentiating between ratings would only serve to further erode investor confidence and threaten an already fragile economy. During this exchange, Chairman Cox indicated that the SEC will actively solicit industry comments for rating agency regulatory changes during the public comment period for new regulations, which are anticipated to be released in the summer/fall 2008. -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia 04/23/2008
→ Lydian Data Services and Financial Crossing Announce Partnership That Delivers Turnkey Liability Management and Mortgage Fulfillment Solution
Partnership Provides Users With Seamless Service From Planning to Full Execution and Delivery of Mortgage Product PALO ALTO, CA and BOCA RATON, FL, April 22, 2008 – Financial Crossing, Inc. (www.financialcrossing.com), the leader in liability management solutions, and Lydian Data Services, LLC, the leading mortgage fulfillment and delivery outsourcing center in the nation, today announced a partnership to provide an end-to-end solution for their common clients. The partnership allows users of the Financial Crossing Liability Manager(SM) platform or Lydian Data Services to have a seamless user experience across both platforms. -- Lydian Data Services,Philippe Turpault,PALO ALTO CA 04/22/2008
→ Lenders West, Inc. Since 1992
OUR EXPERTISE -- Lenders West Career Consulting,Joseph Lawrence,Sacramento CA 04/22/2008
→ OpenClose Solutions Appoints Regional Sales Managers
Kenneth Emminger and Cheryl Hemmingway to lead sales on Web-based LOS -- OpenClose Solutions: Mortgage Software,Frank Bocchino,West Palm Beach FL 04/22/2008
→ Wells Fargo Funding Accepts DocuSign Electronic Signatures for Loan Disclosure Documents
DocuSign, the leading Web-based electronic signature service, today announced that it has been selected as an approved electronic signature vendor for Wells Fargo Funding, a division of Wells Fargo & Company (NYSE: WFC: 29.25, -1.15, -3.78%). The DocuSign service enables loan originators working with Wells Fargo to greatly speed up the loan origination process by getting disclosure documents signed electronically, thus eliminating the time, expense and environmental impact of printing and delivering large stacks of paper documents. -- DocuSign,Info,Seattle Washington 04/21/2008
→ EFFORTS TO REDEVELOP CLEVELAND AREA VACANT PROPERTIES APPROVED FOR FUNDING BY OHIO HOUSING FINANCE AGENCY BOARD
More than $19 million in funding for affordable housing also approved at meeting -- Ohio Housing Finance Agency,Erin Biehl,Columbus Ohio 04/21/2008
→ Carolyn Taylor, Dominique Varner of Hughes Watters Askanase To Speak at Texas Credit Union League Annual Meeting
Carolyn Taylor and Dominique Varner, partners with Hughes Watters Askanase L.L.P., will be speaking at the Texas Credit Union League (TCUL) 74th Annual Meeting and Convention on April 17 in Houston. -- Hughes Watters & Askanase LLP,Laura Pennino,Houston Texas 04/21/2008
→ MBA Presents Burton C. Wood Legislative Service Award to Prudential Huntoon Paige's Marie Head
The Mortgage Bankers Association (MBA) presented its annual Burton C. Wood Legislative Service Award to Marie Head, President and CEO of Prudential Huntoon Paige. The award was given during MBA's 2008 National Policy Conference in Washington, D.C. -- Mortgage Bankers Association of America,Aleis Stokes,Washington District of Columbia 04/21/2008
→ MBA`s Quinn: We Look Forward to Working with Preston
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) commended today`s White House announcement that President Bush intends to nominate Steven Preston, currently Administrator of the Small Business Administration (SBA) to be the next Secretary of Housing and Urban Development. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 04/21/2008
→ In an Industry First, Primary Residential Mortgage, Inc. Partners With Mortgage Success Source to Provide Training and Tools to Branches
Effective immediately, Primary Residential Mortgage, Inc. (PRMI) has partnered with Mortgage Success Source (MSS) to provide PRMI branches nationwide with training and marketing resources. MSS provides information, advice, and resources to assist in developing increased loan origination. PRMI is the first mortgage company in the nation to incorporate these partners simultaneously for the benefit of their originators. -- Primary Residential Mortgage, Inc.,Dave Zitting,SALT LAKE CITY UT 04/21/2008
→ Freddie Mac Deploys $10.5 Million to Non-Profit Groups Helping Borrowers Through Foreclosure Crisis
Freddie Mac (NYSE: FRE) today announced $10.5 million in grants to housing counseling organizations to use for their outreach, education and foreclosure prevention efforts to help borrowers. Freddie Mac is one of the nation's largest investors in residential mortgages. -- Freddie Mac,Information,Reston Virginia 04/21/2008
→ Real Interest Rates Hit -12.55% As Inflation Explodes
Mike Larson examines what real interest rates are and what they mean for the economy. In this issue of Money and Markets, Mr. Larson takes a closer look at the real and nominal interest rates and how they can affect the economy. -- Weiss Research, Inc.,Mike Larson,Jupiter Fl 04/21/2008
→ Goodbye Paper! Hello PerFORMance!
Yes! Its finally true. There now is a way to move from paper forms to electronic forms quickly and at an extremely low cost. -- LimaCorp, LLC,Bob McConkey,Cincinnati oh 04/21/2008
→ MGL Consulting Offers Series 27-28 (FINOP) Training
MGL Consulting Corporation, an industry leader in risk management and business solutions in the financial services industry, is offering FINRA Series 27-28 training in a two-day seminar to prepare attendees for registration examinations and chief financial officer duties. -- MGL Consulting Corporation,Mike Beyeler,Houston TX 04/21/2008
→ In an Industry First, Primary Residential Mortgage, Inc. Partners with Mortgage Success Source to Provide Training and Tools to Branches
Primary Residential Mortgage, Inc. (PRMI) has partnered with Mortgage Success Source (MSS) to provide PRMI branches nationwide with training and marketing resources. MSS provides information, advice, and resources to assist in developing increased loan origination. PRMI is the first mortgage company in the nation to incorporate these partners simultaneously for the benefit of their originators. -- Primary Residential Mortgage,Charlie Brown,Salt Lake City Utah 04/18/2008
→ Home Warranty of America(TM) Makes Home Warranties Affordable for Every Family
Today Home Warranty of America, Inc., announced the national availability of a comprehensive home warranty for just $24.95 a month. -- Home Warranty of America,Chris Kaucnik,BUFFALO GROVE IL 04/17/2008
→ Bankrate: Inflation Concerns Nudge Mortgage Rates Higher
Fixed mortgage rates continue to hopscotch back and forth over the 6 percent threshold, with the average conforming 30-year fixed mortgage rate rising to 6.03 percent this week. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.31 discount and origination points. -- BankRate.com,Kayleen Keneally,North Palm Beach Florida 04/17/2008
→ Nolo.com Adds Up the Emotional Costs of Foreclosure With the Five Stages of Foreclosure Grief
Losing your home to foreclosure can feel as traumatic as the death of a loved one. And with so many Americans facing this dreaded possibility -- more than two million U.S. homeowners are currently in default, according to USA TODAY (Nov. 11, 2007) -- it's important to acknowledge the psychological effects as well as the financial and practical ones. -- Nolo Legal,Albin Renauer,Berkeley California 04/17/2008
→ REFINANCING COULD HELP SENIOR HOUSING/HEALTHCARE BORROWERS IMPROVE BUSINESS OUTLOOK, EXPERT SAYS
When its time to finance or refinance senior housing/healthcare properties, borrowers have been known to experience an identity crisis. -- Cambridge Realty Capital Ltd,Evan Washington,Chicago Illinois 04/17/2008
→ NET Data Joins Simplifile eRecording Alliance
In an effort to deliver industry-leading eRecording services to their mutual customers, Utah-based Simplifile, LC and Texas-based NET Data Corporation today announced that they have formed a strategic alliance for the purpose of integrating and cooperatively marketing Simplifile’s eRecording and NET Data’s County Records Indexing Systems. -- Simplifile, LC,Rob Moore,Texas 04/17/2008
→ HFF arranges $61 million financing for Florida multifamily portfolio
The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged $61 million in financing for two Class A multifamily properties in Tampa and Ocala, Florida. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,MIAMI fl 04/17/2008
→ MISMO® Releases MXCompliance Title v2.3.2 Request and Response Certification
MISMO, the not-for-profit subsidiary of the Mortgage Bankers Association (MBA) that develops e-commerce standards and guidance spanning the $14.4 trillion residential and commercial real estate finance industries, has released the MXCompliance Title v2.3.2 Request and Response certification, making it the fifth MISMO MXCompliance certification available for integration in industry-related technology business practices. -- Mortgage Bankers Association of America,Aleis Stokes,Washington District Of Columbia 04/17/2008
→ MBA's Story Testifies on Loan Modifications
Robert E. Story, Jr., CMB, Vice Chairman of the Mortgage Bankers Association (MBA) and President of Seattle Financial Group of Seattle, WA testified today before the House Financial Services Subcommitee on Capital Markets, Insurance and Government Sponsored Enterprises. In his testimony, Mr. Story discussed H.R. 5579, The Emergency Loan Modification Act of 2007 and the industry's efforts to help at risk borrowers, including successes achieved and ongoing challenges preventing lenders and servicers from helping more borrowers. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 04/17/2008
→ REFIs, FHA Lead Increase In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending April 11, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 743.4, an increase of 2.5 percent on a seasonally adjusted basis from 725.6 one week earlier. On an unadjusted basis, the Index increased 2.7 percent compared with the previous week and was up 16.4 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 04/17/2008
→ MBA's Kittle Testifies on Bill to Mandate Certain Loss Mitigation Activities
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 Subcommittee on Housing and Community Opportunity. Mr. Kittle testified on H.R. 5679, the Foreclosure Prevention and Sound Servicing Act of 2008 -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 04/17/2008
→ New Law Firm Launched: Staub Anderson Green LLC
Three former partners in the Chicago law firm Stahl Cowen have announced the formation of a new firm, Staub Anderson Green LLC. David Staub and Christina Green, founding members of Stahl Cowen, and Eric Anderson, who joined that firm in 2005, have moved their practices to the new firm. Staub Anderson Green is located in downtown Chicago with additional offices in McHenry County and in Flossmoor. The new firm has already launched its website at http://www.staubanderson.com. -- Staub Anderson Green LLC,David Staub,Chicago Illinois 04/15/2008