Recently added articles from Mortgage Banking:
Staying afloat in tough times.(Cover Report: Origination Strategies)(Brief article)
Jun 01, 2009 ... Interest rates are sitting at extremely inviting levels in today's housing market. At most any other point in history, rates this low would send homes flying off the market and would jam the phone lines with refi requests. And while refis have been strong, home sales ...
Navigating rough waters.(Portfolio)(Editorial)
Jun 01, 2009; ... It takes a steady hand to navigate through trying times like these. It's during such hard times that mortgage company chief executives really earn their pay. And times like the present reveal those rare cases when a CEO makes the right call several years ahead of the pack. Like saying the ...
Bankruptcy cramdown bid is shut down in Senate.(Briefing Book)
Jun 01, 2009 ... On the same day that mortgage bankers were in town visiting with members of Congress and senators, the Senate voted down an amendment to allow bankruptcy judges to reduce the principal on a mortgage backed by a borrower's primary residence. The issue is known as bankruptcy cramdown. The ...
BofA launches new home loans brand and Clarity Commitment.(Briefing Book)
Jun 01, 2009 ... The newest powerhouse mortgage-lending brand--Bank of America Home Loans--that incorporates the former Countrywide Home Loans, took a major step forward to bring more clarity to the home loan application and closing process in April. The company also announced it had officially retired the ...
National Policy Conference: the politics of Sen. Specter, GSEs and TV cameras.(Briefing Book)(Mortgage Bankers Association)(Conference news)
Jun 01, 2009 ... At the Mortgage Bankers Association's National Policy Conference in Washington, D.C., on April 29, a third-term Republican senator told attendees, "This town became a different place yesterday when Senator Specter did what he did. [ILLUSTRATION OMITTED] The remark ...
Multifamily delinquencies (CMBS loans).(Business Barometer)
Jun 01, 2009 ... <Pre> Delinquency Rate Basis Point IncreaseFrom Previous Month ...
House passes sweeping mortgage reform bill.(Briefing Book)(Law overview)
Jun 01, 2009 ... By a vote of 300 to 114, on May 7, the House passed the Mortgage Reform and Anti-Predatory Lending Act of 2009 (H.R. 1728). The legislation was introduced by; Reps. Brad Miller (D-North Carolina), Mel Watt (D-North Carolina) and Barney Frank (D-Massachusetts). The legislation parallels a ...
HUD secretary reviews administration's housing-recovery plans.(Briefing Book)(Mortgage Bankers Association)(Conference news)
Jun 01, 2009 ... HUD Secretary Shaun Donovan addressed the National Policy Conference sponsored by the Mortgage Bankers Association on April 29 and noted the day was "momentous" because it marked the 100th day President Barack Obama had been in office. He told the crowd of mortgage bankers that ...
HUD unveils FY 2010 budget, announces $2 billion in neighborhood stabilization funds.(Briefing Book)
Jun 01, 2009 ... On May 7, HUD Secretary Shaun Donovan released the department's proposed budget for fiscal year 2010. In a release announcing the budget plan, HUD says it will consolidate or eliminate 27 programs and activities. The release stated, "The budget will allow HUD to effectively ...
Bernanke sees 'signs of bottoming' in housing market.(Briefing Book)(Ben Bernanke)(Conference news)
Jun 01, 2009 ... In testimony before the Joint Economic Committee of Congress on May 5, Federal Reserve Chairman Ben Bernanke made some upbeat remarks about the state of the housing market. At the same time, Bernanke told the committee, "Credit conditions in the commercial real estate sector are still ...
HUD inspector general battling fraud in booming FHA program.(Briefing Book)(Conference news)
Jun 01, 2009 ... The Federal Housing Administration's home loan program has become a much juicier target for fraudsters now that it accounts for a much larger share of loans being made. That was the word from Anthony Medici, special agent in charge of the Office of Inspector General's (OIG's) Criminal ...
Court rules against RealtySouth in RESPA class-action suit.(Briefing Book)(Real Estate Settlement Procedures Act)(RealtySouth)(Brief article)(Case overview)
Jun 01, 2009 ... The Federal District Court for the Northern District of Alabama ruled in April that RealtySouth, a real estate brokerage firm headquartered in Birmingham, Alabama, violated the Real Estate Settlement Procedures Act (RESPA) by charging consumers a $149 administrative brokerage commission ...
June-September 2009.(Calendar of Events)(Conference news)(Table)(Calendar)
Jun 01, 2009 ... <Pre> June 2009 June 3-4 Indiana Mortgage Bankers Association State Convention, Indianapolis [www.indianamba.org] June 4 National Housing Conference (NHC) Policy Symposium, Washington, D.C. [www.nhc.org] June 8-10...
The Ticker.(Statistical table)
Jun 01, 2009 ... <Pre> Company Ticker PricePrice 52-Week 52-Week Symbol CloseClose High Low 4/30/09 3/31/09 Fannie MaeFNM 0.78 0.7031.48 0.30 Freddie Mac FRE 0.79 0.76...
An industry called to action.(Executive Suite)
Jun 01, 2009; ... Looking back over the past several months, I feel optimistic about what lies ahead for the housing industry. Consumer confidence is rebounding, and the markets are responding. Homebuyers and those seeking to refinance their mortgages are taking advantage of the low rate ...
Getting it right.(Washington Update)(Mortgage Bankers Association)(Mortgage Improvement and Regulation Act)
Jun 01, 2009; ... There is a lot of energy behind "getting it done" in Washington, D.C., these days. And the unprecedented momentum behind reforming real estate finance could result in a revived and improved system. It could produce greater consumer protections, improved access to credit, increased ...
Have we hit bottom yet? Housing economists differ on when home prices will hit bottom. A return to home-price gains prompts even more disagreement.(Cover Report: Origination Strategies)
Jun 01, 2009; ... Even those who have not studied physics may know the immutable law: What goes up must come down. This principle has been proven once again in the past 36 months as sky-high home prices have fallen back (closer) to Earth, succumbing not just to market gravity but to grave challenges facing ...
A Branch Bonanza: with the addition of some choice branch locations, JPMorgan chase is making the most of its acquisition of Washington Mutual, especially when it comes to mortgage lending.(Cover Report: Origination Strategies)
Jun 01, 2009; ... The unprecedented decline of the U.S. housing market has dealt a lethal blow to many in the home mortgage industry, but the market's woes could work to the long-term advantage of one very large U.S. bank--New York-based JPMorgan Chase & Co. In more recent weeks, a sharp upturn in ...
Gearing up for growth: one New York-based lender is revved up and growing even in today's stalled market.(Cover Report: Origination Strategies)
Jun 01, 2009; ... When you look around Michael Ashley's extensive office, many fascinating items attract your attention. One in particular catches your eye almost immediately. It's the seared auto-racing suit he wore when he won the Super Bowl of drag racing--the National Hot Rod Association's (NHRA's) 2007 ...
One for all, all for one: lenders are finally getting a single licensing system for all states. It isn't perfect, but it is here.(Cover Report: Origination Strategies)(Nationwide Mortgage Licensing System and Registry)(American Association of Residential Mortgage Regulators )(Conference news)
Jun 01, 2009; ... An effort by states to develop a nationwide system for licensing mortgage originators has been validated in a little-known section of the Housing and Economic Recovery Act for 2008 (HERA). [ILLUSTRATION OMITTED] Title V of HERA, the Secure and Fair Enforcement for ...