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Mortgage Banking August 15, 2008
→ Mortgage Credit News - August 8, 2008
Mortgage rates are a hair lower, under 6.75% now, but spreads to Treasurys have widened despite overt Treasury backing of Fannie and Freddie. -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado 08/08/2008
→ Mortgage Applications Slightly Increase In Latest MBA Weekly Survey
-- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 08/06/2008
→ MISMO® Completes Milestone Two of Version 3.0
Industry Continues to make progress on MISMO's Version 3.0 Architecture -- Mortgage Bankers Association of America,Aleis Stokes,Washington District of Columbia 08/05/2008
→ NEW! Seamless Integration Between MortgageDashboard(TM) and Office XSites by a la mode
MortgageDashboard(TM) now has a seamless integration with Office XSites by a la mode. MortgageDashboard(TM) users with an a la mode Web site can now export their new loan applications directly to their MortgageDashboard(TM) LOS -- completely eliminating retyping. Whenever a new customer signs onto MortgageDashboard(TM), they will automatically get a free Originator level XSite with a 20-day trial of the Office level XSite features, including the integration with MortgageDashboard(TM). The integration also allows XSite users to receive a fully integrated MortgageDashboard(TM) account. -- A La Mode Inc.,Ellana Walker,Oklahoma City Oklahoma 08/05/2008
→ ModCo Solutions Launches Operations to Assist Mortgage Servicers
- Specialized firm aims to connect servicers and borrowers by performing field outreach campaigns. - -- ModCo Solutions,Erin Forbes, 08/05/2008
→ ELLIE MAE PARTNERS WITH MORTGAGE POWER NETWORK, GIVING ENCOMPASS USERS ACCESS TO CHIP CUMMINGS’ MARKETING TOOLS
Users get one-click access to Encompass training, mortgage information and marketing tools to improve productivity and profits -- Ellie Mae Inc.,David Lewis,Pleasanton California 08/04/2008
→ Mortgage Credit News - August 1, 2008
Mortgage rates are back down to 6.50% (low-fee), taken by sudden understanding that the economy probably passed its high point for the year in June. -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado 08/04/2008
→ SearchMyLoan.com Announces Strategic Alliance with JMAC Lending
-Lender’s extensive loan programs now available through pricing and search engine -
SearchMyLoan.com (SML), a provider of loan search and pricing services for the mortgage industry, announced a strategic alliance with Huntington Beach, Calif.-based JMAC, a lender offering diversified product lines and competitive pricing to the wholesale funding market. -- SearchMyLoan.com,Info,PORT WASHINGTON NY 07/31/2008
→ MAVENT OBTAINS INNOVATIVE TECHNOLOGY PATENT FOR MORTGAGE COMPLIANCE
Mortgage compliance pioneers assist lenders nationally amid mortgage crisis; technology quickly and effectively determines loan compliance -- Mavent Inc.,Lou Pizante,Irvine California 07/31/2008
→ BasePoint`s Opinion on Reporting Mortgage Fraud - Fighting Fraud with Frank
If a tree falls in a forest and no one is around to hear it, does it make a sound? You have probably heard this riddle which presents the situation of a reality (the tree falling) and a human observation (hearing a sound). Did the sound the tree made when it fell really exist when no one was around to hear it? Can something exist without it being recognized by the world? Is recognition necessary for existence? -- BasePoint Analytics,Info, 07/30/2008
→ MBA's Quinn Hails Senate Passage of Housing Bill
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) issued the following statement following the Senate's passage of H.R. 3221, The Housing and Economic Recovery Act of 2008. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 07/30/2008
→ Regulation Finally Reaches Mortgage Industry
One full year after the credit crisis began, the government is finally getting around to regulating the mortgage industry. The new housing bill that just passed Congress requires background checks, testing, registration in a national database and annual continuing education requirements for all individual mortgage bankers and brokers. “The government is finally paying attention to what we’ve been advocating for years,” said Gibran Nicholas, Chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. -- CMPS Institute,Josephine Nicholas,Ann Arbor MI 07/30/2008
→ James P. Gross Joins MBA as Associate Vice President of Accounting, Tax and Bank Regulation
The Mortgage Bankers Association (MBA) today announced the appointment of James P. Gross as Associate Vice President of Accounting, Tax and Bank Regulation. In this capacity, he will help develop and implement MBA's strategy on legislative, regulatory and industry issues in the areas of accounting and tax policy and bank regulatory capital. He will also be the staff representative to MBA's Financial Management Committee. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 07/30/2008
→ Seniors Considering Reverse Mortgages to Benefit Greatly from Housing Legislation
Landmark housing legislation (H.R. 3221) passed by Congress this weekend will make substantial improvements to the federally-insured reverse mortgage program and greatly benefit senior homeowners who may want to utilize home equity to help finance their retirement years. -- National Reverse Mortgage Lenders Association,Darryl Hicks,Washington DC 07/30/2008
→ Pending Suitability Regulations Leave Mortgage Lenders Exposed to Potential Violations
Current and proposed regulations require lenders to select loans that are suitable to borrowers and watch out for their best interest -- Overture Technologies,Pete Maselli,Bethesda Maryland 07/30/2008
→ Second Half 2007 Mortgage Originations Show Preference for
Fixed Rate Products Over Adjustable Rate Products -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia 07/30/2008
→ Mortgage Applications Decrease In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 25, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 420.8, a decrease of 14.1 percent on a seasonally adjusted basis from 489.6 one week earlier. On an unadjusted basis, the Index decreased 13.7 percent compared with the previous week and was down 30.3 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 07/30/2008
→ MBA's Quinn: HUD Takes Bold Step to Modernize FHA with Housing Tax Credit Program
-The Mortgage Bankers Association (MBA) today applauded issuance of HUD Mortgagee Letter 2008-19 which streamlines processing of FHA multifamily insurance applications with Low Income Housing Tax Credits. The Mortgagee Letter contains important changes to FHA processing which will provide flexibility and cut costs, making FHA insurance a very competitive financing vehicle for affordable rental properties with low income housing tax credits. -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia 07/25/2008
→ StoneWater Selects MindBox Technology to Deliver Instant On-Line Product and Pricing Decisions
Proven technology, speed of implementation key advantage for new mortgage lender -- MINDBOX,Yared Benyam,Greenbrae California 07/25/2008
→ DocuSign Launches New Enterprise Service Capabilities for
Electronic Contract Execution
Beyond eSignatures, DocuSign gives enterprise customers the most powerful solution available to eliminate slow, expensive paper-based processes for transporting, signing, storing contracts and capturing business data -- DocuSign,Info,Seattle Washington 07/25/2008
→ MBA's Quinn: "This is the Most Important Housing Bill in a Generation"
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) hailed the House of Representatives passage of the omnibus housing bill. The bill, which passed the House by a vote of 272-152, will now go to the Senate - where leaders have indicated it will pass - and then to President Bush, who has stated he will sign it. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 07/25/2008
→ CampusMBA Launches Reverse Mortgage Central
A Complete Training Solution For Lenders As Reverse Mortgage Business Continues To Grow -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 07/25/2008
→ MBA Submits Formal Response to SEC Regulatory Proposals on Credit Rating Agencies
The Mortgage Bankers Association (MBA) today submitted a comment letter to the Securities Exchange Commission (SEC) in response to the SEC`s proposed amendments to its regulations governing nationally recognized statistical rating organizations (NRSROs). MBA expressed support for measures in the SEC proposal that would promote transparency, accountability, and credibility of NRSROs and the methodologies used to assign credit ratings. However, MBA strongly opposes different ratings symbols to be used for structured finance versus other investment products. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 07/25/2008
→ MBA's Kittle Testifies on Mortgage Servicing
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 Committee. At the hearing titled, "A Review of Mortgage Servicing Practices and Foreclosure Mitigation," Mr. Kittle explained to committee members that servicers' and borrowers' interests are typically aligned in avoiding foreclosure and working together to help keep borrowers in their homes. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 07/25/2008
→ MBA`s Kempner Announces His Departure
Jonathan L. Kempner, President and Chief Executive Officer of the Mortgage Bankers Association, announced today that he will be stepping down from that role on December 31, 2008. Kempner was hired in March 2001 to lead MBA through a turnaround in its operations after three especially rough years. Under his leadership, the association doubled its revenues and operating reserve fund, while scoring a host of policy and advocacy victories. Major strides have been recorded in MBA`s various member-focused departments, including communications, research, conferences, education and technology - in both the realms of residential and commercial/multifamily real estate finance. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 07/23/2008
→ Mortgage Applications Decrease In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 18, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 489.6, a decrease of 6.2 percent on a seasonally adjusted basis from 522.2 one week earlier. On an unadjusted basis, the Index decreased 6.1 percent compared with the previous week and was down 19.6 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 07/23/2008
