Mortgage Banking Edition July 15, 2009

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Mortgage Banking July 15, 2009

Daily Events Editions
Market News Annoucements
Sources Archives

SORRENTO CAPITAL ACQUIRES REO.COM

Investment firm adds leading technology and service provider to its portfolio of loss mitigation and consumer debt-focused companies -- Sorrento Capital,Jeri Yoshida,Irvine Ca  07/15/2009

Mortgage Applications Increase in Latest MBA Weekly Survey

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 10, 2009. The Market Composite Index, a measure of mortgage loan application vol -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  07/15/2009

GMAC Financial Services Declares Final Monthly Distribution Date for Superior Wholesale Inventory Financing Trust X

GMAC Financial Services today announced that the final monthly distribution date for Superior Wholesale Inventory Financing Trust X (SWIFT X) will occur on July 15, 2009. This will result in a termina -- GMAC Financial Services,Gina Proia,Detroit Mi  07/14/2009

30-year Fixed Rates Continue Month-Long Decline

Rates Fall Further on Monday, According to Zillow(R) Mortgage Rate Monitor -- Zillow,Katie Curnutte,Seattle Wa  07/14/2009

Federated Investors, Inc. to Advise on Multi-billion Dollar Portfolio for Bayerische Landesbank

- Mandate builds on Federated's demonstrated ability to realize value for clients within their structured product portfolios -- Federated Investors, Inc.,Meghan McAndrew,Pittsburgh Pa  07/14/2009

SilverLeaf Financial Acquires 321 Single-Family Mortgages from Loans Originated by GMAC

SilverLeaf Financial's CEO, Shane Baldwin, speaks about the firm's most recent loan pool acquisitions -- SilverLeaf Financial,Campbell Dosch,Salt Lake City Ut  07/14/2009

Genworth Financial Says Number of Loans Eligible for MI Modification Will Jump Under New Guidelines for Making Home Affo

Genworth Financial, Inc. (NYSE:GNW) said today that the recent decision by the Obama Administration to expand eligibility for its Making Home Affordable program will make an estimated 44% additional l -- Genworth Financial Inc.,Terry Souers,Raleigh Nc  07/14/2009

Debt Consolidation Companies Under Fire

In an economy battered by high unemployment, consumers awash in debt are paying increasing attention to debt consolidation companies promising easy debt relief. At the same time, the debt settlement i -- Rosenbaum Law Offices,Press,   07/14/2009

U.S. HOUSE PRICES UP 1.6% IN MAY ACCORDING TO IAS360 HOUSE PRICE INDEX

Northeast Leads The Way As All Four U.S. Census Regions Report Gains -- John Burns Real Estate Consulting,Dan Mahoney,Denver Co  07/14/2009

Coreland Companies Adds Two Industry Veterans and Promotes Others In Brokerage Division

TUSTIN, CALIF. - Coreland Companies of Tustin, Calif., one of the largest real estate service companies based in California, announced today it has significantly enhanced its Brokerage division to ove -- Coreland Companies,Anne Monaghan,Tustin CA  07/13/2009

Banking Department Wins Court Case Against Internet Payday Lender

Commonwealth Court Rules PA Law Applies to Out-of-State Companies -- Offical Pennsylvania State Police Web Site,Ed Novak,Harrisburg Pa  07/13/2009

Acris Solutions Partners with Bankers` Mortgage Solutions to Bring Paperless Functionality to Community Banks` Lending E

Paperless processing and electronic loan delivery expands innovative service provider’s offerings to community banks across the country -- Acris Solutions,Richard Johnston,Laguna Hills Ca  07/13/2009

New partnership between Mortgagebot and Harland Financial Services

Mortgagebot® LLC is pleased to announce the expansion of its preferred referral alliance with Lake Mary, Fla.-based Harland Financial Solutions, Inc., an industry-leading supplier of software and serv -- MortgageBot LLC,Robert Brandt,Cedarburg Wisconsin  07/13/2009

Reverse Mortgage Adviser Verifies Homeowners Using TARGUSinfo

Free Online Service Helps Link Eligible Seniors Seeking Reverse Mortgages with Leading Lenders Looking for Contactable Borrowers -- TARGUSinfo,Rufus Manning,Vienna Va  07/13/2009

Credit Answers, A Leading Provider In Debt Settlement, Launches A Loan Modification Division

Today, July 13, 2009, 6 hours ago -- Credit Answers,Bill Loughborough,Plano Tx  07/13/2009

Block Escrow, Bank Account, MT760, Providing Evidence of Proof of Funds

PROOF OF FUNDS SERVICE -- Offshore Trading Platform,Reginald Ollison,Raleigh NC  07/12/2009

Housing Assist Builds the Bridge Between Homeowners and Banks for Successful Short Sales

Banks expect a recovery from the housing debacle, while cooperating with companies that are qualified in assisting homeowners short sale -- Housing Assist of America,Ardy Afshar,Los Angeles Ca  07/10/2009

Credit Answers, A Leading Provider In Debt Settlement, Launches A Loan Modification Division

Credit Answers, a leading debt settlement firm, located in Plano, TX, has launched a loan modification division to broaden its debt relief scope. -- Credit Answers,Bill Loughborough,Plano Tx  07/10/2009

Mortgage Credit News July 10, 2009

Long-term interest rates plunged this week as "V" hopes gave way to "L" reality. -- Premier Mortgage Group, Inc,Lou Barnes,Boulder Co  07/10/2009

Southwest Side Community Announces Partnership With Bank of America to Keep Families in Homes

Commitment to "Restore Health" to Southwest Community Comes After Two Hundred Community Residents Rally Outside St. Rita Church -- Southwest Organizing Project,Jeff Bartow,Chicago Il  07/10/2009

Survey Shows Support for Obama Economic Plans

A study conducted by Foreclosure1.com of its users shows support for Obama's economic proposals, particularly those geared towards homeowners. When President Obama took office in January 2009, one -- Foreclosure1.com,James Carter,New York Ny  07/10/2009

Class Action Against Old Republic National Title Insurance Company Directed To Proceed By Court

Class Counsel for the Plaintiffs in the Old Republic National Title Insurance Company class action suit announced the following: -- Quinn, Gordon & Wolf, Chtd.,Richard S. Gordon Esq,Philadelphia Pa  07/10/2009

Foreclosure Rates Continue Rising and Housing Prices Continue Falling

ForeclosureDataOnline.com reports more dark days ahead for the housing market and for homeowners concerned about losing their homes. The data collected by the site shows that foreclosure levels contin -- ForeclosureDataOnline.com,Ray Murray,New York Ny  07/10/2009

Pembrook Actively Seeking to Deploy Up to $500 Million

The Pembrook Group Is Actively Searching for Lending Opportunities in Commercial Real Estate -- The Pembrook Group, LLC,John Garth,New York Ny  07/10/2009

Griffin Announces Closing on Mortgage

Griffin Land & Nurseries, Inc. (NASDAQ:GRIF) ("Griffin") announced that its real estate business, Griffin Land, closed on a mortgage of four of its industrial buildings in New England Tradepor -- Griffin Land & Nurseries, Inc.,Anthony Galici,New York Ny  07/10/2009

U.S. Treasury Taps 9 Managers for Toxic-Debt Program

The U.S. Treasury named BlackRock Inc., Invesco Ltd. and seven other managers for its Public- Private Investment Program, in an effort to remove as much as $40 billion in distressed assets from financ -- Bloomberg,Press Release,Princeton New Jersey  07/10/2009

Bankrate: Economic Worries Bring Mortgage Rates Lower

The average 30-year fixed mortgage rate fell for the third time in four weeks, with the average rate dropping to 5.59 percent, according to Bankrate.com's weekly national survey. The average 30-ye -- Bankrate.com,Kayleen Keneally,New York Ny  07/09/2009

Foreclosures Everywhere - Now What?

New PolicyLink report highlights promising ways cities and states are dealing with the community impacts of widespread foreclosures -- PolicyLink,Dan Lavoie,Oakland Ca  07/09/2009

Shore Mortgage to Hire 100 More Employees

Michigan-Based, Shore Mortgage, one of the country's Leading FHA and conventional home lenders, is seeking to grow company's team and to highlight employee benefits -- Shore Mortgage,Angie Bournias f,Birmingham Mi  07/09/2009

MBA Reports Government-Insured Share of Mortgage Applications Highest Since 1990, Now at 36 Percent

The government-insured (FHA and VA loans) share of mortgage applications was 35.9 percent in June 2009, the highest level since November 1990, according to the Mortgage Bankers Association. -- Mortgage Bankers Association of America,Carolyn Kemp,Washington District of Columbia  07/09/2009

Freddie Mac YouTube(TM) Video Shows Delinquent Borrowers How to Make More Effective Phone Calls to Servicers

New Video Shows Which Documents Can Help Reduce Repeat Calls To Servicers -- Freddie Mac,Brad German,Mclean Va  07/08/2009

Private Mortgage Returns Rebound in First Quarter 2009

Annual returns negative for second consecutive quarter -- LifeComps,LifeComps,Boston Ma  07/08/2009

Brandywine Realty Trust Closes $60 Million Mortgage Loan

Brandywine Realty Trust (NYSE:BDN) , a real estate investment trust focused on the ownership, management and development of Class A, suburban and urban office properties in the mid-Atlantic region and -- Brandywine Realty Trust,Marge Boccuti,Radnor Pa  07/08/2009

PERSON OF THE WEEK: Atare E. Agbamu And FHA Mortgagee Letter 2008-38

Within the reverse mortgage sector, the Federal Housing Administration (FHA) Mortgagee Letter 2008-38 (ML-08-38) has created a lot of talk - and a great deal of that palaver is not supportive. This we -- Credo Mortgage,Atare Agbamu,Erlanger Kentucky  07/08/2009

Residential Finance Corp. Hiring, Has Jobs for Experienced, Successful Mortgage Loan Officers at Columbus Headquarters

Award-winning mortgage refinance lender cited for “Sales Department of the Year”; serves 27 states, offers paid & ongoing training, comprehensive benefits, incentives -- Residential Finance Corporation,Info,Columbus Oh  07/08/2009

Mortgage Applications Increase in Latest MBA Weekly Survey

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 3, 2009, which was a shortened week due to the Independence Day holiday. This wee -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  07/08/2009

ModPilot Guides Homeowners to Successful Do-It-Yourself Loan Modifications

All over America, homeowners continue to struggle with their mortgage payments. Even those who haven't lost jobs are finding themselves upside-down, owing more than their homes are worth. In some -- ModPilot Inc.,Matthew Smith,Oceanside Ca  07/08/2009

ABSNet Loan Data Available Through 1010data

Loan level data on U.S. RMBS now available -- Lewtan Technologies,Lillian Flores,+17816721175   07/08/2009

Foreclosure Help at Homeowners Conference

Homeowners in danger will learn how to save or sell their home from real estate expert Jeff Kaller. -- The Homeowners Conference,Patrick Nolan,Tampa Fl  07/08/2009

MGIC Investment Corporation Amends Shareholder Rights Agreement

Amended Agreement is Structured to Preserve Value of Net Operating Losses -- Understanding Private Mortgage Insurance,Sal Miosi,Milwaukee Wi  07/07/2009

RBC Capital Markets Becomes Primary Dealer

RBC Capital Markets today announced that it has been designated a primary dealer by the Federal Reserve Bank of New York, effective tomorrow, July 8, 2009. -- RBC Capital Markets,Kevin Foster,New York Ny  07/07/2009

Mortgage Rates Inch Down For Third Consecutive Week

Rates Fall Further on Monday, According to Zillow(R) Mortgage Rate Monitor -- Zillow.com,Katie Curnutte,Seattle Wa  07/07/2009

ELLIE MAE LAUNCHES NEW MORTGAGE MANAGEMENT SYSTEM ENCOMPASS360

Customer beta users pronounce system as first-of-its-kind, paradigm-changing solution -- Ellie Mae Inc.,Kevin Williams,Pleasanton Ca  07/07/2009

PROFNET EXPERT ALERTS: Business & Technology

Michael Jackson's Sudden Death: Importance of Estate Planning, -- ProfNet,David Dickey,   07/06/2009

Foreclosure Listings Nationwide.com Makes the Dream of Owning a Home a Reality

Foreclosures are at an all-time high. However, good news is on the horizon. The release of the new federal tax credit of $8,000 given to first-time home buyers has heated up the real estate market and -- ForeclosureListingsNationwide.com,Jason Gallagher,Los Angeles Ca  07/06/2009

Free Educational Conference on the Economy and Homeownership Supported by Powerhouse Trio

Orlando Magic's Pat Williams on stage with frequent Dr. Phil and Mad Money guests, Loral Langemeier and Harry Dent - all three to speak on economic crisis and financial recovery. -- The Homeowners Conference,Patrick Nolan The Homeowners Confer,Tampa Fl  07/06/2009

Hanley Investment Group Sells Single-Tenant NNN Fresh & Easy Neighborhood Market for $2,475,000

Single-Tenant NNN Grocery Store Trades Hands to All Cash Buyer in 20-Day Close -- Hanley Investment Group Real Estate Advisors,Anne Monaghan,Irvine Ca  07/06/2009

PMI-to-PMI Refinance-to-Modification Programs

PMI is pleased to announce that we have expanded our HARP and refinance-to-modification programs -- The PMI Group, Inc.,System Admin,   07/06/2009

So Many Foreclosures, So Little Logic

LAST week, the stock market tumbled on news that housing foreclosures and delinquencies rose again in the first quarter. The Office of the Comptroller of the Currency said that among the 34 million lo -- NY Times,GRETCHEN MORGENSON,   07/06/2009

Mortgage Modification Efforts So Far: 5 Things You Need to Know

The lynchpin of President Barack Obama's plan to rescue troubled home owners--and the housing market as a whole--is a sweeping effort to restructure distressed home loans through a process known a -- The Home Front,Luke Mullins ,   07/06/2009

Mortgage Rates Slide Back

The average 30-year fixed mortgage rate pulled back to 5.70 percent this week, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.48 discoun -- Bankrate, Inc.,Kayleen Keneally, Senior Direc,New York Ny  07/02/2009

As today`s economic environment puts pressure on older homeowners to find new sources of retirement income and stretch t

A study by MetLife Mature Market Institute finds that 35% of older Americans see their homes not just as secure places to live, but also as collateral for a loan. About 14% are taking cash out of thei -- Dataman Group Direct,Dale Filhaber, President,Boca Raton FL  07/02/2009

FTC issues critical advisory opinion to ACA International regarding FDCPA, FCRA

The Federal Trade Commission (FTC), for only the fourth time in its history, recently released an important advisory opinion to ACA International clarifying a conflict between the Fair Debt Collection -- ACA International,John Nemo,Washington Dc  07/02/2009

Irwin Financial Corporation Announces Sales of Assets and Managerial Changes

Irwin Financial Corporation (NYSE:IFC) , today announced the sale of approximately $190 million of commercial loans in the second quarter and an agreement to sell three branch locations in Indiana, pe -- Irwin Financial Corporation,Susan Matthews,Columbus In  07/01/2009

Appraisal Institute Calls on HUD to Rescind Mortgage Regulation

Calls for New Rules on Appraisal Management Companies -- Appraisal Institute,Bill Garber,Washington Dc  07/01/2009

Hodgdon Group Represents Ashley Furniture with Collins Commercial to Acquire 439,000 SF in Colton, CA

* * * -- Monaghan Communications,Anne Monaghan,Colton California  07/01/2009

Zillow.com(R) Traffic Grows 67 Percent Year-over-Year in First Half 2009

Amid real estate market uncertainty, homeowners, buyers and sellers turning to Zillow(R) in record numbers for research and advice -- Zillow.com,Jill Simmons,Seattle Wa  07/01/2009

Genworth Data Shows Positive Results from Obama Administration Home Affordable Refinance Program

Company Implements Enhancements to Help Mortgage Servicers Modify Loans and Homeowners Avoid Foreclosure Under Home Affordable Modification Program -- Genworth Financial, Inc.,Terry Souers,Raleigh Nc  07/01/2009

Freddie Mac Relief Refinance Mortgage(SM) Now Available With Up to 125 Percent Loan-To-Value Ratios

Major Change Opens Door to Refinance Relief for More Borrowers in Hard Hit Markets -- Freddie Mac,Brad German,Mclean Va  07/01/2009

Fannie Mae Implementing New Loan-to-Value Ceiling for Home Affordable Refinance Program

Loans Eligible for Delivery September 1 -- Fannie Mae,Brian Faith,Washington Dc  07/01/2009

Former MBA Technology Vp Harry Gardner Joins Signiadocs As Chief Strategy Officer

eMortgage technologist to help leading eMortgage services provider increase national eMortgage adoption -- SigniaDocs,Tim Anderson,Houston Tx  07/01/2009

Simplifile To Accept Check Payments For E-recording Services Through The Myecheck Payment System

Simplifile, the leading provider of electronic recording services, today announced that it has signed an agreement with MyECheck, Inc. (OTCBB: MYEC), the leading provider of online check image service -- Simplifile, LC,Richard Jackman, Marketing Man,Provo Ut  07/01/2009

Mortgage Applications Decrease in Latest MBA Weekly Survey

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 26, 2009. The Market Composite Index, a measure of mortgage loan application vol -- Mortgage Bankers Association,John Ferber, Commercial,Washington Dc  07/01/2009

Unlikely New Coalition Shines Spotlight on National Goal of Dramatically Upping Energy Efficiency of All New U.S. Homes,

Utility CEO, State Energy & Industry Assn Heads, Homebuilder, Efficiency Advocates Join in Urgent Call for Strong Building Energy Codes in All States -- Alliance to Save Energy,Ronnie J Kweller,Washington Dc  06/30/2009