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Mortgage Lending May 31, 2008
Yahoo News Links
• 40 Year Fixed Mortgage
• Paperless Mortgages
• New UK Mortgage Rules
• Home Loans
• Mortgage Applications
• Commercial Lending
Press Releases
• We Have Relocated our Office
-- ,Katie West,Lawrenceville Georgia 05/30/2008
• Mortgage Credit News - May 30, 2008
After six weeks in a narrow range, a little not-so-bad economic news blew long-term rates to the highs of 2008: the 10-year Treasury to 4.13% (the first time above 4% since New Years), and low-fee mortgages to 6.375%. Both of those yields are better this morning, but we will not see five-something mortgages again without a new round of bad economic reports. -- Boulder West Financial Services,Lou Barnes,Boulder Colorado 05/30/2008
• FHA Loans
We are direct endorsed fha lender -- Golden First Mortgage Corp,Nikitas Kouimanis,Great Neck NY 05/30/2008
• National network of real estate
Taxable values may not reflect current housing values leaving many to pay too much tax. -- LowTaxRate.com,Ryan, 05/30/2008
• Hanley Investment Group & Voit Commercial Brokerage Sell Ralphs Grocery Anchored Shopping Center in Glendale, CA for $19,500,000
Edward B. Hanley and Eric P. Wohl of Hanley Investment Group teamed up with Michael Hefner of Voit Commercial Brokerage of Orange, Calif. to represent the seller, Glendale Square LLC, otherwise known as FKC Properties, Inc. of Placentia, Calif., in the sale of a Ralphs grocery-anchored shopping center in Glendale, CA for $19,500,000, representing a 6.05 percent cap rate and $422 psf. -- Monaghan Communications,Anne Monaghan,newport beach California 05/29/2008
• State-Wide Coalition Calls on Governor and Legislature to Address Foreclosure Crisis Before End of Legislative Session
New Yorkers for Responsible Lending (NYRL) pressed the Governor and State Legislature today to pass strong and comprehensive foreclosure prevention legislation before the legislative session ends in June. With only 5 weeks remaining in the legislative calendar, the Governor and the Legislature have yet to sit down together to develop a much needed legislative solution for New York`s foreclosure crisis. -- New Yorkers For Responsible Lending,Sarah Ludwig,Albany NY 05/27/2008
• State-Wide Coalition Calls on Governor and Legislature to Address Foreclosure Crisis Before End of Legislative Session
New Yorkers for Responsible Lending (NYRL) pressed the Governor and State Legislature today to pass strong and comprehensive foreclosure prevention legislation before the legislative session ends in June. With only 5 weeks remaining in the legislative calendar, the Governor and the Legislature have yet to sit down together to develop a much needed legislative solution for New York's foreclosure crisis. -- Bill Draving Company, Inc.,Bill Draving,Albany NY 05/27/2008
• Mortgage Coach Announces Revolutionary New Selling System – ANALYZE Software
Software helps originators establish trust among today’s skeptical borrowers with an easy way to create the industry’s clearest, most comprehensive financial reports in just moments -- The Mortgage Coach,Mike Baker,Irvine California 05/27/2008
• Foreclosure Shorts - 05/27/2008
Latest articles on Foreclosures -- Bill Draving Company, Inc.,Bill Draving,San Antonio Texas 05/27/2008
• Scotsman Guide Wins National Association of Real Estate Editors Award
The national mortgage magazine's commercial edition receives recognition in "Best Mortgage Magazine" category
-- Scotsman Guide, the leading resource for mortgage originators, has announced that its commercial edition was honored by the National Association of Real Estate Editors (NAREE). The national mortgage magazine won second place in the 58th annual journalism awards' "Best Mortgage/Financial Real Estate Magazine" category. -- Scotsman Publishing,Todd Britton,Bothell Washington 05/27/2008
• ICBA Commends Senate Banking Action on Housing Crisis
The Independent Community Bankers of America (ICBA) commends the Senate Banking Committee for taking action to deal with the nation’s housing crisis by passing the Federal Housing Finance Regulatory Reform Act of 2008, including the HOPE for Homeowners Program measure and legislation to reform the regulation of the government-sponsored enterprises (GSEs). -- The Independent Community Bankers of America,Bill Grassano,Washington dc 05/27/2008
• HFF secures $13 million in financing for Marriott-branded hotels in New Mexico and Maine
The Hartford office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured $13 million in financing for the Courtyard by Marriott in Albuquerque, New Mexico and the Bangor Fairfield Inn in Bangor, Maine. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Hartford CT 05/27/2008
• ICBA Offers Tips for Homebuyers
Work with Your Community Banker to Find the Mortgage That’s Right for You -- The Independent Community Bankers of America,Bill Grassano,Washington dc 05/27/2008
• Mortgage Credit News - May 23, 2008
Mortgage and Treasury rates have stayed within a tight range for six-straight weeks: 5.875% to 6.25% and 3.70% to 3.92% respectively. -- Boulder West Financial Services,Lou Barnes,Boulder Colorado 05/27/2008
• Tapping Into Your Retirement Funds Should be a Last Resort, Say NLC & ICMA-RC
With millions of homeowners across the nation facing the crisis in subprime mortgages, many with defined contribution retirement plans -- including public-sector employees -- may be tempted to tap into them for loans and ready cash. But according to the National League of Cities and ICMA-RC, any early withdrawals from retirement savings accounts should only be considered a last resort. -- National League of Cities,Sherry Conway,Washington DC 05/27/2008
• ERIC RICE FLIPS THE SCRIPT ON FORECLOSURE DOOM AND GLOOM
Former Foreclosure Hunter turned Loss Mitigation Expert Eric Rice Sheds Light on Distressed Homeowners -- Dyer Beech,Info, 05/23/2008
• MBA's Kittle Testifies on RESPA Reform
"Reforming the mortgage process is an important but difficult task. It is imperative that we get this right" -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 05/23/2008
• MBA's Brinkmann Testifies on the Impact of the Conforming Loan Limit
Jay Brinkmann, Vice President of Research and Economics for the Mortgage Bankers Association (MBA) testified today before the Committee on Financial Services. In his testimony, Mr. Brinkmann discussed the impact of the higher conforming loan limit and the efforts to improve jumbo loan pricing. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 05/23/2008
• Closing Market Features Integration with Notary National Signers
Interface to provide title companies with direct access to professional signing agents from RamQuest’s Complete Closing™ title production solution -- RamQuest Software, Inc.,Erin McAnally,Plano TX 05/23/2008
• Foreclosure Shorts - 05/22/2008
Latest articles on Foreclosures -- Bill Draving Company, Inc.,Bill Draving,San Antonio Texas 05/22/2008
• Mortgage Applications Decrease In Latest MBA Weekly Survey
-- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 05/22/2008
• MBA Releases New Commercial/Multifamily Property Inspection Form
Will Result in More Streamlined, Accurate and Standardized Inspection Process -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia 05/22/2008
• INTRALINKSŇ INTRODUCES ACCESS GATEKEEPERTM COMPLIANCE SOLUTION TO LOAN SYNDICATION MARKET
Next Generation Disclosure Functionality Helps Compliance Departments Satisfy Increasing Regulatory Scrutiny -- IntraLinks, Inc.,Info,New York NY 05/21/2008
• Mortgage Applications Decrease In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 16, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 621.6, a decrease of 7.8 percent on a seasonally adjusted basis from 674.4 one week earlier. -- Mortgage Bankers Association of America,Carolyn Kemp,Washington District of Columbia 05/21/2008
• MBA Releases Policy Paper Clarifying Roles of Mortgage Bankers and Brokers
The Mortgage Bankers Association (MBA) today released a new policy paper titled, "Mortgage Bankers and Mortgage Brokers: Distinct Businesses Warranting Distinct Regulation." The paper brings clarity about the roles and responsibilities of mortgage bankers and mortgage brokers to current legislative and regulatory discussions. -- Mortgage Bankers Association of America,Carolyn Kemp,Washington District of Columbia 05/21/2008
• MBA's Quinn Applauds Senate Committee Passage of Housing Legislation
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) today hailed the passage of The Federal Housing Finance Regulatory Reform Act of 2008, legislation to help prevent foreclosures and reform oversight of the Government Sponsored Enterprises (GSEs) - Fannie Mae, Freddie Mac and the Federal Home Loan Banks. The bill passed the Senate Committee on Banking, Housing and Urban Affairs by a vote of 19-2. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 05/21/2008
• Maryland Association of Mortgage Brokers Co-Sponsors CMPS Institute Training
In an effort to increase the level of professionalism and financial competency amongst their membership, the Maryland Association of Mortgage Brokers (MAMB) is co-sponsoring the CMPS Live! training and certification event in New York City, July 28-30, 2008. -- CMPS Institute,Josephine Nicholas,Ann Arbor MI 05/21/2008
• CHAD RICKS OF LOVE FUNDING SECURES NEW CONSTRUCTION LOAN FOR LA SIERRA APARTMENTS
National mortgage-banking firm Love Funding today announced that Chad Ricks, vice president of Love Funding’s Dallas office, secured $11,196,800 in financing for La Sierra Apartments in New Braunfels, Texas. Love Funding was able to provide funds for the new construction loan through an FHA-insured loan. -- Love Funding Corp.,Robyn Cunningham,Dallas Tx 05/21/2008
• First Integrity Mortgage “Goes Live” with Mortgage Builder Loan Origination System
Ease of use, fast implementation, professional features and personal support cited in regional mortgage bank decision -- Mortgage Builder Software Inc,Keven Smith,Southfield Michigan 05/21/2008
• Bankrate: Fixed Mortgage Rates Inch Higher
Fixed mortgage rates were modestly higher this week, with the average conforming 30-year fixed mortgage rate rising to 6.19 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.39 discount and origination points. -- BankRate.com,Kayleen Keneally,North Palm Beach Florida 05/19/2008
• Congressman Frank Notes Realtors(R)' Importance to Economic Stability
Chairman of the House Financial Services Committee Barney Frank, D-Mass., today addressed the important role that Realtors(R) and the housing market play in the overall U.S. economy at the National Association of Realtors(R) Midyear Legislative Meetings & Trade Expo, here through Saturday. -- National Association of Realtors®,Walter Molony,Washington dc 05/19/2008
• Home Sales, Prices to Pick Up In Second Half of 2008, Says NAR Chief Economist
Home sales and prices throughout most of the country are poised for improvement in the second half of 2008, and the recovery will vary by market, Lawrence Yun, chief economist for the National Association of Realtors(R) said today during NAR`s Midyear Legislative Meetings & Trade Expo. More than 9,000 Realtors(R) and guests are attending the conference that runs here through Saturday. -- National Association of Realtors®,Walter Molony,wASHINGTON DC 05/19/2008
• Realtors(R) Generate Real Solutions for Families Facing Foreclosure
Stemming the rise of foreclosures is an important part of the National Association of Realtors(R)' legislative agenda this week at NAR's Midyear Legislative Meetings & Trade Expo. But Realtors(R) aren't just working in Washington to address the problem -- they're also working with neighborhood organizations and agencies back in their communities to help families stay in their homes. -- National Association of Realtors®,Walter Molony,Washington dc 05/19/2008
• As Foreclosure Inventory Soars, New Trulia Survey Data Reveals Consumer Sentiment About Purchasing Foreclosed Homes
Survey Finds Both Willingness and Reservations in Purchasing Foreclosures in Wake of Mortgage Crisis, with Hidden Costs The Top Concern Among Consumers -- Trulia.com,Info,San Francisco Ca 05/19/2008
• Foreclosure Shorts - 05/19/2008
Latest articles on Foreclosures -- Bill Draving Company, Inc.,Bill Draving,San Antonio Texas 05/19/2008
• LAURA SAULL-SMITH OF LOVE FUNDING’S WASHINGTON D.C. OFFICE CLOSES $2.4 MILLION LOAN FOR EGLE NURSING AND REHABILITATION CENTER
National mortgage-banking firm Love Funding today announced that its Washington D.C. office secured a $2,413,700 refinance loan to fund repairs and upgrades to the Egle Nursing and Rehabilitation Center in Lonaconing, Md. Laura Saull-Smith, Senior Vice President with the firm’s Washington D.C. office, originated the transaction. -- Love Funding Corp.,Robyn Cunningham,Washington DC 05/19/2008
• Mortgage Credit News - May 16, 2008
Mortgage and 10-year T-notes tried their tops all week long (6.25% and 3.92%, respectively), looking like they would break upward... and held. Rates have improved today, but a run into the fives will require a weakening economy. Name your poison. -- Boulder West Financial Services,Lou Barnes,Boulder Colorado 05/19/2008
• MBA's Quinn Highlights Servicer Efforts to Help Borrowers, Offers Policy Recommendations in Remarks at Chicago Fed
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) today spoke today at the Federal Reserve Bank of Chicago's 44th Annual Conference on Bank Structure and Competition. In his remarks, Mr. Quinn spotlighted the work mortgage servicers are doing to help at-risk borrowers and said that the proper legislative and regulatory approach would allow servicers to help more borrowers, while stabilizing the market and preventing a reoccurrence of the events that resulted in the current difficulties. Mr. Quinn cautioned that the wrong approach has the potential to exacerbate the current troubles and deprive future borrowers the opportunity to become homeowners. -- Mortgage Bankers Association of America,Aleis Stokes,Chicago IL 05/19/2008
• CampusMBA Announces Level II of Commercial CMS Designation
CampusMBA, the award winning education division of the Mortgage Bankers Association (MBA), today launched Level II of its Commercial Certified Mortgage Servicer (CMS) designation during MBA's Commercial/Multifamily Servicing and Technology Conference in Chicago. Level I of the designation, as well as the designation itself, was launched one year ago at the same conference. -- Mortgage Bankers Association of America,John Ferber,Chicago IL 05/19/2008
• Fighting Fraud with Frank
The simple phone call – it can unravel even the most sophisticated fraud scheme in less than 3 minutes, and it is amazingly cheap. Insurance companies use them to detect potential discrepancies on applications for auto insurance. Credit card companies have used them for years to verify confirmed and unconfirmed claims of fraud. Online merchants have relied on them to verify that they are not sending merchandise to a fraudster. And now, I believe the mortgage industry can leverage this technique to reduce billions in fraud loss exposure every year. -- BasePoint Analytics,Info, 05/16/2008
• ISGN Re-Brands Acquired Companies
MortgageHub, Dynatek, Inuva, Tradewinds and Cocamar to operate under ISGN name -- ISGN,James Gellasch,BENSALEM pa 05/16/2008
• Philadelphia Fed`s Survey of Professional Forecasters Focuses on House Prices
The Federal Reserve Bank of Philadelphia released its Survey of Professional Forecasters today, which provides projections on a broad range of macroeconomic variables, including economic growth, inflation, and employment. -- Federal Reserve Bank of Philadelphia,Marilyn Wimp,Philadelphia PA 05/15/2008
