Mortgage Lending April 30, 2009
→ Real Estate CEOs Perceive Damaged Market with Glimmer of Hope
Eroding Market Conditions Tempered By Slight Uptick in Expectations -- Real Estate Roundtable,Scott Sherwood,Washington Dc 04/24/2009
→ Fannie Mae Board Appoints Michael J. Williams President and Chief Executive Officer
Fannie Mae (NYSE:FNM) today announced that the company's Board of Directors has appointed Michael J. Williams President and Chief Executive Officer and a board director. Williams succeeds Herbert M. Allison, Jr., who has been nominated to be Assistant Secretary for Financial Stability and Counselor to the Secretary at the U.S. Department of the Treasury. -- Fannie Mae,Brian Faith,Washington Dc 04/24/2009
→ Concern for the Economy Increases by 463% as Trust in Banking Sector Dips 44%
With Chancellor Alistair Darling expected to concede in today's budget that the government will fail to recover a significant amount of the GBP60bn bailout funds already spent on UK banks, new research has uncovered concern for the economy has risen by an amazing 463% over the past year, while trust in banks and politicians continues to fall. -- Mindshare Worldwide,Mark Banham,London Uk 04/24/2009
→ New Study Shows More Than 2.1 Million California Small Business Jobs Will Be Lost Over the Next 3 to 4 Years
1.5 Million Face Immediate Risk of Job Loss as a Result of Small Business Owners Who Took out Toxic Home Mortgages according to Bornstein & Song, CPAs & Consultants Study with MerchantCircle -- MerchantCircle,Professor Samuel D. Bornstein,Los Altos Ca 04/24/2009
→ Directgov launches 'moneyspeak' - Government's official website launches new web tool -
In the wake of the Chancellor's Budget, Directgov has launched Moneyspeak, a new, free simple tool which can be shared via social networking sites such as Facebook and MySpace. -- Directgov,,London 04/24/2009
→ Record-Low Household Moving Rate Continues Into 2009; Industry Calls on Congress to Help
ALEXANDRIA, Va., April 23 /PRNewswire-USNewswire/ -- New Census Bureau figures showing Americans moved last year at the lowest rate in 40 years is consistent with industry data compiled by the American Moving & Storage Association (AMSA), which also finds the trend continuing into 2009. -- American Moving and Storage Association,John Bisney, 04/24/2009
→ RICS Global RE Weekly: Hong Kong Mortgage Activity to Continue to Edge Higher
HONG KONG, April 24 /PRNewswire-Asia/ -- Several pieces of data are released next week which should provide some clues about the near term outlook for the Hong Kong residential property market. The monthly survey of residential mortgage trends is due to be published on Wednesday 29th. This will indicate whether the housing market is seeing any 'green shoots' following some improved pieces of economic newsflow across the region in recent weeks. -- Royal Institution of Chartered Surveyors,Ms Kate Kwan,Hong Kong Asia 04/24/2009
→ David Moffett To Assist Freddie Mac as Consultant to Interim CEO
Assignment Focused on Timely Issuance of 1st Quarter 2009 Financial Results -- Freddie Mac,Michael Cosgrove,Mclean Va 04/24/2009
→ Former First Magnus Officers And Directors Step Aside From Stonewater
Karl F.W. Young, President of StoneWater Mortgage Corporation has announced the restructuring of the company's management team effective May 1, 2009. -- StoneWater Mortgage,StoneWater Mortgage ,Tucson Az 04/24/2009
→ Cambridge Credit Counseling To Participate In Treasurer Cahill`s Money Conference At Western New England College
Representatives will educate Massachusetts residents on how to navigate the recession. -- Cambridge Credit Counseling Corp.,Thomas Fox,Agawam ma 04/24/2009
→ MBA's Kittle Calls For Balance In Efforts To Improve Mortgage Regulation
David G. Kittle, CMB, Chairman of the Mortgage Bankers Association (MBA), today testified before the House Financial Services Committee at a hearing on H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009. In his testimony, he reiterated MBA's commitment to working to with legislators and other policy makers to improve regulation of the mortgage market. -- Mortgage Bankers Association,Sarah Tinsley,Washington Dc 04/24/2009
→ Mortgage Applications Increase In Latest MBA Weekly Survey
-- Mortgage Bankers Association,Sarah Tinsley,Washington Dc 04/22/2009
→ Pricing Partners to Participate in Valuation & Risk 2009 in London
Pricing Partners to Participate in Valuation & Risk 2009 in London -- Pricing Partners,Eric Benhamou,Paris 04/22/2009
→ Pricing Partners Independent Valuation Platform Selected by Microsoft
Pricing Partners Independent Valuation Platform Selected by Microsoft -- Pricing Partners,Eric Benhamou,Paris 04/22/2009
→ Pricing Partners and CMA Announces Alliances
Pricing Partners and CMA Announces Alliances -- Pricing Partners,Eric Benhamou,Paris 04/22/2009
→ Pricing Partners presented new work on smart expansion and fast calibration for jump diffusion models at the MathFinance Conference
Pricing Partners presented new work on smart expansion and fast calibration for jump diffusion models at the MathFinance Conference -- Pricing Partners,Eric Benhamou,Paris 04/22/2009
→ Pricing Partners brings more transparency on independent valuation with its source code solution
Pricing Partners brings more transparency on independent valuation with its source code solution -- Pricing Partners,Eric Benhamou,Paris 04/22/2009
→ Loan Modification Leads That Close!
Start Speaking With Qualified & Motivated Homeowners Today! Exclusive | Real-Time | Verified Internet Leads Call: 888-MY-LEADZ *Ask about our current promotion and how you can earn 5 FREE Leads! -- SMART LEADZ,Smart Leadz,Rochester New York 04/22/2009
→ Pricing Partners to Participate in the MTN-I Miami `09, Worlds Largest MTN issuers Conference
Pricing Partners to Participate in the MTN-I Miami `09, Worlds Largest MTN issuers Conference -- Pricing Partners,Eric Benhamou,Paris 04/21/2009
→ Bruce Gerhart Of Love Funding`s Cleveland Office Secures More Than $5.4 Million For Railside Living Center
National mortgage-banking firm Love Funding today announced that its Cleveland office closed a $5,418,100 refinance loan for Railside Living Center located in Byron Center, Mich. Bruce Gerhart, Midwest Regional Director with Love Funding’s Cleveland office, originated the transaction. -- Love Funding Corp.,Robyn Cunningham,Cleveland Ohio 04/21/2009
→ MBA: Bank Of America And Wells Fargo Were Top U.s. Commercial/multifamily Originators In 2008
Bank of America and Wells Fargo were the top commercial/multifamily originators in 2008, according to a set of listings released today by the Mortgage Bankers Association (MBA). Other originators in the top 10 include PNC Real Estate; Holliday Fenoglio Fowler, L.P.; Wachovia; GE Real Estate; Capmark Financial Group Inc.; CBRE | Melody; Deutsche Bank Commercial Real Estate; and KeyBank Real Estate Capital. -- Mortgage Bankers Association,Carolyn Kemp,Washington Dc 04/21/2009
→ Shareholder Notice And Access Symposium (snas) To Co-locate With Document Strategy Forum
A trade show and exposition dedicated to the entire transactional document life cycle. -- EventEvolution Management Inc.,,EventEvolution Management Inc.,,Bridgeport Ct 04/21/2009
→ Occ Offers Tips To Avoid Mortgage Modification And Foreclosure Avoidance Scams
The Office of the Comptroller of the Currency (OCC) today issued a consumer advisory to help homeowners avoid scams that claim to help them save their homes, but can cause them to lose their homes and their money. -- The Office of the Comptroller of the Currency,Bryan Hubbard ,Washington Dc 04/21/2009
→ Cambridge Credit Counseling Launches Keepyourhome.us To Promote Alternative To Obama Housing Program
Website details Cambridge’s Home Sweet Home initiative to aid the ailing economy. -- Cambridge Credit Counseling Corp.,Thomas Fox,Agawam ma 04/21/2009
→ Kelly Media Group Offers Direct Mail Marketing Stimulus to Mortgage Companies
Kelly Media knows that direct mail marketing can seem over whelming for mortgage brokers and loan modification comapnies. Direct mail response rates have been very high for several mortgage campaigns and companies should take advantage of our full service direct mail advertising that works great with out inbound call centers. Maximize your cash flow but outsourcing telephone services to Kelly Media Group. Businesses and organizations continue to feel the economic fallout of the recession, so KMG believes this Marketing stimulus package is coming at the right time to jump-start activity and interest. -- Kelly Media Group,John,2022 West 11th Street Ca 04/21/2009
→ Free Mortgage or Loan Modification Leads with Live Transfer Lead generation Packages or Direct Mail Marketing Campaigns
Kelly Media Group recently announced that are offering free internet mortgage or loan modification leads with all voice broadcasting campaigns targeting foreclosure prevention, mortgage refinancing and FHA leads. -- Kelly Media Group,John,2022 West 11th Street Ca 04/20/2009
→ Leonard Lucas Of Love Funding`s Boston Office Closes $1.1 Million Hud 232/223(f) Skilled Nursing Facility Acquisition Loan
Love Funding today announced that the firm recently closed a $1,100,000 HUD 232/223(f) loan to finance the acquisition of a skilled nursing facility. Love Funding is a fully approved LEAN HUD lender; however, this loan was started under HUD’s MAP processing. Leonard Lucas, a Love Funding First Vice President – Senior Originator based in Boston, originated the transaction. -- Love Funding Corp.,Robyn Cunningham,Boston Ma 04/20/2009
→ Wingspan Portfolio Advisors Forms Wingspan Preferred Attorney Network To Benefit Loan Workout Effort Across The Nation
Specialty servicer creates group of attorneys dedicated to helping borrowers save homes from foreclosure, not solely on completing legal action -- Wingspan Portfolio Advisors,Marketing Department,Carrollton Texas 04/20/2009
→ First Internet Bank Begins Offering Jumbo Mortgage Loans
First Internet Bank announced today that it has begun to offer jumbo loans. Jumbo loans are mortgages that exceed conforming limits ($417,000 in most parts of the country and as high as $729,750 in certain markets) and are not guaranteed by government-backed mortgage agencies Fannie Mae or Freddie Mac. -- First Internet Bank of Indiana,Nicole Lorch ,Indianapolis In 04/20/2009
→ MBA Names Michael Fratantoni Vice President Of Single Family Research And Policy Development
The Mortgage Bankers Association (MBA) today announced that Michael Fratantoni has been named Vice President of Single Family Research and Policy Development. Fratantoni will be responsible for managing MBA`s policy development research for issues impacting single-family lending. -- Mortgage Bankers Association,Sarah Tinsley,Washington Dc 04/20/2009
→ Retreat Capital Management Collaborates With Ellie Mae To Provide Mortgage Modification Services To Encompass Users
Retreat Capital Management, Inc., a leading third party arbitration services company that specializes in bringing loans back to performing status in order to keep borrowers in their homes, announces its collaboration with Ellie Mae, an award-winning software and services provider for the mortgage industry. As part of this collaboration, Ellie Mae will make Retreat Capital Management’s mortgage loan modification services available to its nationwide customer base of more than 120,000 mortgage professionals using the Encompass Mortgage Management Solution. -- Retreat Capital Management, Inc,,Lake Forest Ca 04/20/2009
→ Mortgage Defaults: The Short Road To Riches By Tom Duncan
FINDING FINANCIAL FREEDOM IN FORECLOSURES -- Absolute Foreclosure Help,Tom Duncan, 04/20/2009
→ As Technologies Improve And Lenders Focus On Efficiency, Demand Increases For All-inclusive Loan Origination Technology
Keven Smith, CEO of loan origination software (LOS) provider Mortgage Builder Software, is convinced that the long-time debate of whether lenders should employ systems that are all-inclusive or elect to assemble components into custom LOS platforms is finally being resolved, thanks to significant improvements to “end-to-end” technologies. The resulting systems are saving lenders time, money and a great deal of effort, according to Smith. -- Mortgage Builder Software Inc,Keven Smith,Southfield Michigan 04/20/2009
→ Cascade Financial Services Implements FICS` Mortgage Servicer To Assist With Ginnie Mae Reporting
Financial Industry Computer Systems, Inc. (FICS®), a mortgage technology specialist that provides in-house residential origination and servicing technology and commercial servicing technology to the mortgage industry, announced the successful implementation of Mortgage Servicer™ at Mesa, Ariz.-based Cascade Financial Services. -- FICS Group,Kelly Graham,Dallas TX 04/20/2009
→ Avista Solutions Announces Launch Of Sail Rapid Implementation Methodology, Sees Increased Lender Demand For Efficiency During Refi Boom
New methodology dramatically reduces deployment time, increases productivity and cuts origination costs -- Avista Solutions,Carrie Hellams,Columbia South Carolina 04/20/2009
→ William Raveis Mortgage Prepares For Massive Growth With Encompass Banker Edition
Streamlined rate locks, customization and easy-access file sharing enable company to accomplish more, while spending less time and money -- Ellie Mae Inc.,Philip Yee,Pleasanton Ca 04/20/2009
→ Walter Investment Management Corp. Completes Separation from Walter Industries
Company Completes Merger of Former Walter Finance Business with Hanover Capital Mortgage Holdings -- Walter Investment Management Corp.,Whitney Finch,Tampa Fl 04/20/2009
→ Pricing Partners backs out cds recovery rate from bond market to get more accurate independent valuation on credit derivatives
The current financial crisis has emphasized inaccurate modelling assumptions on credit derivatives. In particular, market participants have realized abruptly after the Lehman default that the standard 40% recovery rate assumption for CDS market was very optimistic as they recover just around 5% of their notional value. This has casted some major doubts about the fair level for recovery rate. -- Pricing Partners,,Paris 04/20/2009
→ Pricing Partners to Participate to the virtual roundtable on Valuation & Transparency organized by Structured Products magazine, the major reference for OTC derivatives investors
Pricing Partners to Participate to the virtual roundtable on Valuation & Transparency organized by Structured Products magazine, the major reference for OTC derivatives investors -- Pricing Partners,Eric,Paris 04/20/2009
→ Futuretrust(R) Banking Center Takes the Pinch Out of Saving for College; Industry-First 529 Checking Account Turns Everyday Banking into College Savings
Futuretrust(R), a recognized leader in the college savings industry, and Waterfield Financial Services, Inc., a leader in the financial industry for nearly 100 years, today announced their partnership to provide an industry-first 529 checking account. Facilitated through the new Futuretrust Banking Center, the unprecedented checking account allows parents to save for college without altering their household budget. Futuretrust Banking Center 529 checking accounts earn a minimum of 1 percent interest on their average daily account balance. That generated interest is automatically deposited into a tax-advantaged college savings plan of the account holder`s choice. -- Futuretrust,Judie Ashworth,Philadelphia Pa 04/20/2009
→ Better Life America Restores Dream of Homeownership When Banks Refuse to Help
Betsy Sullivan`s home in Montgomery, N.Y. had been on the market for over two years. She had originally listed the seven-bedroom, four-bathroom home with an apartment for $575,000; after two years without a sale, Sullivan dropped the price to $439,000. Even then, she couldn`t sell the house -- and the apartment wasn`t even renting. -- Better Life America,Matt Smith,Oceanside Ca 04/20/2009
→ OpenClose Introduces AssistSeries™ Product Suite to Streamline Workflows and Increase Productivity
OpenClose, a West Palm Beach, Fla.-based developer of Web-based, mortgage software, announced the introduction of its new, integrated end-to-end suite of mortgage software products called the AssistSeries™. Developed to help mortgage companies and individuals create new business opportunities, the AssistSeries™ streamlines work flows and helps companies do more with less software and less capital. It`s unique design targets a market segment that is significantly wider than most mortgage vendors offering solutions for mortgage brokers, mortgage lenders, credit unions, community banks, from enterprise down to the individual loan originator. -- OpenClose Solutions: Mortgage Software,Frank Bocchino,West Palm Beach FL 04/20/2009
→ Hanley Investment Group Sells Single-Tenant Fresh & Easy Market for $2,865,000, Cap Rate 6.6%
Edward B. Hanley of Hanley Investment Group Real Estate Advisors represented the buyer and seller in the sale of a single-tenant Fresh & Easy Neighborhood Market in Loma Linda, Calif. The purchase price was $2,865,000, at a 6.6% cap rate. The 15,000 sq. ft. single-tenant Fresh & Easy Neighborhood Market is located at 25694 Redlands Boulevard. Positioned at the signalized intersection of Redlands Blvd. and Mountain View Ave., the property is situated on 2.1 acres and was built in 2009. Fresh & Easy is a subsidiary of UK-based Tesco, the third largest retailer in the world and the largest retailer in the UK. Tesco operates over 3,200 stores across 12 countries. -- Monaghan Communications,Anne Monaghan,Newport Beach California 04/18/2009
→ $50,000 Offshore Trading Platform
Earned High Returns Monthy with Secured account as low as $50,000 to trade! -- Offshore Trading Platform,Reginald Ollison,Raleigh NC 04/18/2009
→ Mortgage Lenders Bringing Criminal Prosecutions Against Homeowners In Loan Modification `trap`
Mortgage Fraud Examiners, the company that was warning the public about loan modification services months before the Obama Administration, is now warning of a new `criminal loan modification trap` which the government `doesn`t`(?) want you to know. -- Mortgage Fraud Examiners ,Storm Bradford,Ashburn Virginia 04/17/2009
→ MBA Names Michael Fratantoni Vice President Of Single Family Research And Policy Development
The Mortgage Bankers Association (MBA) today announced that Michael Fratantoni has been named Vice President of Single Family Research and Policy Development. Fratantoni will be responsible for managing MBA's policy development research for issues impacting single-family lending. -- Mortgage Bankers Association of America,Carolyn Kemp,Washington Dc 04/17/2009
→ First National Bank Of Pasco Rated One Of Nation`s Safest Banks To Deposit Your Money
With the banking industry under heavy scrutiny and many having to be bailed out, one Florida bank stands up to the pressure and is rated by BauerFinancial Inc. as one of the nation’s safest banks to deposit your money. -- First National Bank of Pasco:,Robert Sumner,Dade City Fl 04/17/2009
→ Leonard Lucas Of Love Funding`s Boston Office Places $6.2 Million Refinance Loan For Two Assisted Living Facilities In Los Angeles And Garden Grove, Calif.
Love Funding today announced that the firm recently secured a $6,235,000 bank loan to refinance two assisted living facilities. Leonard Lucas, a Love Funding First Vice President – Senior Originator based in Boston, originated the transaction. -- Love Funding Corp.,Robyn Cunningham,Boston Ma 04/17/2009
→ Love Funding Secures More Than $9.4 Million In Financing For Multifamily Housing Complex
Love Funding today announced that it closed a $9,401,500 refinance loan for a multifamily housing complex located in Colorado Springs, Colo. The national mortgage-banking firm was able to secure FHA financing for the transaction, which closed on March 23. -- Love Funding Corp.,Robyn Cunningham,Washington Dc 04/17/2009
→ Mortgage Defaults: The Short Road To Riches By Tom Duncan
FINDING FINANCIAL FREEDOM IN FORECLOSURES Real estate expert offers a foolproof, financially freeing guide to investing in foreclosures -- Absolute Foreclosure Help,Melissa Sileo, 04/17/2009
→ 21 Ways To Great Customer Service
ServiceSkills.com offers 24/7 access to a complete suite of twenty-two proven Telephone Doctor web-based training courses. Your team members will learn from high quality media presentations, measure retention with online quizzes, benefit from post-quiz feedback, print key point reminders and earn certificates of completion - directly from their desktop. Your managers will track employee progress and success through an admin tracking feature. To experience this system with a no-charge demo code, please click HERE -- ServiceSkills.com,System Admin, 04/17/2009
→ Mortgage Applications Decline In Latest MBA Weekly Survey
-- Mortgage Bankers Association of America,Sarah Tinsley,Washington Dc 04/17/2009
→ Allregs Enhances State Compliance Package With Three New Features
- State Checklists, Disclosure Matrices and Permissible Fee Matrices - -- Allregs,Glenn Ford,Eagan 04/17/2009
→ Ramquest Launches On-line Community Dedicated To Respa Respaready.com Is The Only Industry Forum Designed Specifically For Respa Discussion And Collaboration
RamQuest, Inc. announced today the launch of a new online community dedicated to the new RESPA regulation and the resulting industry-wide transition. No single topic has resonated throughout the real estate settlement industries more than the issue of RESPA Reform. Countless numbers of people across the real estate and settlement services industries are impacted by this regulation. This online community is a forum for these people to come together, share ideas and develop new connections that will be critical in creating new and successfully interdependent methods of conducting RESPA compliant transactions. -- RamQuest Software, Inc.,Erin McAnally,Plano tx 04/17/2009
→ Edhec Position Paper Lists The Negative Consequences Of The Short Selling Ban
An in-depth study of short-selling activities by EDHEC Finance Professor Abraham Lioui, entitled `The Undesirable Effects of Banning Short Sales,` calls into question both the reasons for the decision to ban short selling and the prejudices that weigh on those who short. -- EDHEC Business ,Séverine Anjubault:, 04/17/2009
→ FHLBANK SAN FRANCISCO JOINS IN CELEBRATING THE GRAND OPENING OF ABBEY APARTMENTS FOR THE HOMELESS IN DOWNTOWN LOS ANGELES
Public-Private Partnership Produced New Building Providing 113 Housing Units for the Homeless -- FHLBANK SAN FRANCISCO,Kevin Blackburn,Los Angele Ca 04/17/2009
→ Governor Rendell Reminds Families of Resources to Help Avoid Foreclosures, Provide Relief
Urges Prompt Action on Relief and Recovery Budget Proposal -- Pennsylvania Office of the Governor,Chuck Ardo,Philadelphia Pa 04/17/2009
→ Reinsurance Industry Facing Challenge and Change, Chairmen of Upcoming Industry Conference Say
Players in the multi-billion-dollar reinsurance industry are navigating their share of challenges these days. -- HB Litigation Conferences LLC,Sharon Boothe,Berwyn Pa. 04/17/2009
→ Nation's Top Foreclosure Site Reports New Foreclosure Rate Data
Foreclosurelistings.com has been carefully following the effects of the economic package and reports that foreclosure numbers continue to surge. -- ForeclosureListings.com,Kevin Simpson,New York Ny 04/17/2009
→ Despite Economic Conditions, Study Finds 85 Percent of Small Business Owners See Retirement Plans as One of the Most Important Benefits They Can Offer
SunTrust Now Offering New Online 401k for Small Businesses -- SunTrust Banks, Inc.,Hugh Suhr,Atlanta Ga 04/17/2009
→ Preventing Foreclosures and the Stimulus; Innovative Foreclosure Prevention Program Needs Support from HUD
The Save Our Homes Coalition will hold a press conference on Court Room 676 City Hall, Philadelphia. Prominent speakers and homeowners will call on HUD or the Congress to make federal funds available for innovative, model foreclosure prevention programs HEMAP and the Foreclosure Diversion Program. -- Philadelphia Unemployment Project,John Dodds,Philadelphia Pa 04/17/2009
→ Bankrate: Mortgage Rates Inch Lower
Mortgage rates were down slightly this week, with the average 30-year fixed mortgage rate dipping to 5.18 percent. According to Bankrate.com`s weekly national survey, the average 30-year fixed mortgage has an average of 0.44 discount and origination points. -- Bankrate,Kayleen Keneally,New York Ny 04/17/2009
→ Julius Hotels and Hospitality Consulting (JHC) has announced that it is operational and accepting new business beginning immediately.
Julius Hotels and Hospitality Consulting (JHC) has announced that it is operational and accepting new business beginning immediately. Hospitality industry expert Jerome Strack has assembled a team of highly skilled individuals from every facet of the industry to provide critical direction to Hotel Owners, Investors and Receiving Officers. `We have created a business model that allows us to offer advice focusing on selected departments or on an entire operation` states Strack, founder and Preside -- Julius Hotels and Hospitality Consulting,Jerome Strack,Los Angeles Ca 04/17/2009
→ Turnkey Business. Loan Modification
-- Executive Recruiters Group Inc.,Information 8495,Mesa Arizona 04/16/2009
→ City of San Jacinto Lands Numerous Retailers & Restaurants
The City of San Jacinto announces numerous new retail openings and construction including a CVS/pharmacy, Denny`s, Threads Clothing Store, Mattress Brothers, a 7,600 sq. ft. flagship office for Torres Martinez Desert Cahuilla Indians, Sprint, Professional Beauty Supply store, GameTime, Domino`s Pizza, a Beauty College and Tacos Tijuana Mexican Grill. -- Monaghan Communications,Anne Monaghan,Newport Beach California 04/15/2009