Mortgage Banking News     Click to continue . . .

  •   MORELLI NAMED MORTGAGE BANKER OF THE YEAR
Samuel B. Morelli, President and COO of the Mortgage Division of Eagle National Bank in Villanova, PA, has been awarded the 2008 Mortgage Banker of the Year Award. The award was presented to Morelli by The Mortgage Bankers Association (MBA) of Greater Philadelphia at its annual meeting held at The Union League in Philadelphia.
Eagle National Bank - Mortgage Division,Samuel Morelli, PA  05/06/2008

  •   Mortgage Builder Software Partners with Optimal Blue
Partnership integrates LOS with product eligibility and pricing engine, enables lenders to lock online with investors
Mortgage Builder Software Inc,Keven Smith,Southfield Michigan  05/05/2008

  •   CampusMBA Launches Residential Secondary and Capital Markets Workshop Series
Workshops are issue-focused, hands-on and cover vital industry-related topics
Mortgage Bankers Association of America,Aleis Stokes,Washington District of Columbia  05/05/2008

  •   NYLX ADDS UNPRECEDENTED MARKET TRANSPARENCY FEATURES TO LOANDECISIONS
Originators and investors benefit from up-to-the-minute, 99.9995% accurate access to investor rate and guideline changes, plus several other enhancements to increase profitability
NYLX,Info,Mt. Arlington New Jersey  05/05/2008

  •   Countrywide and New Vista Asset Management Join Together to Turn foreclosures Into Opportunities for Home Buyers
Countrywide Financial (NYSE:CFC) , a diversified financial services provider, and New Vista Asset Management have joined together to find qualified buyers for Countrywide's REO properties. The program is designed to help minimize the impact of foreclosures on neighborhoods by reaching out to consumers interested in residing in these communities. In the relationship, New Vista's network of real estate professionals who have deep roots in minority communities are assigned the responsibility and will work to ensure that prepared homebuyers, often first-time and minority homebuyers working with New Vista professionals, have the opportunity to purchase REO properties.
Countrywide Home Loans, Inc.,Savitha Anantharaman,Calabasas California  05/01/2008

  •   TransUnion.com Mortgage Trend Analysis Finds That Mortgage Loan Delinquency Rates Expected to Rise More Than 34 Percent by Year End
Analysis of trends in the mortgage industry during the 4th quarter of 2007 was made available today on TransUnion.com. The report is the third in an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data to be released on TransUnion`s Web site.
Trans Union Corp.,Dave Blumberg,Chicago Illinois  05/01/2008

Interest Rate Markets News     Click to continue . . .

  •   Grant America Program Approved by HUD
The only government grant program to be reviewed and approved for use in conjunction with FHA loans.
Global Direct Sales, LLC,Scott Nash,Indian Island Maine  05/08/2008

  •   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 25, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 567.0, a decrease of 11.1 percent on a seasonally adjusted basis from 637.6 one week earlier. On an unadjusted basis, the Index decreased 10.2 percent compared with the previous week and was down 14.2 percent compared with the same week one year earlier.
Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  05/01/2008

  •   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

  •   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

  •   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