Mortgage Lending March 31, 2008

→   Better Business Bureau Recognizes Leader Mortgage Company
Leader Mortgage Company, Inc. proudly accepted a Membership Achievement Certificate from the Better Business Bureau. Established in 1986, Leader Mortgage Company is one of the oldest licensed mortgage lenders in Massachusetts and has helped more than 35,000 customers achieve their dream of home ownership. -- ,Sushil Tuli,Arlington MA  03/30/2008



→   Mortgagebrokers.com and Remax's Mortgage Referral Program Launch New Website.
Mortgagebrokers.com (the "Company") announced that its strategic alliance partner Remax Ontario/Atlantic Canada has launched a new website (www.remaxrsp.com) fully dedicated to its unique and exclusive program with MortgageBrokers.com. Under this partnership any of the 9,000+ RE/Max realtors are encouraged to use the services of MortgageBrokers.com and its rapidly growing national sales team. -- Mortgagebrokers.com,Info,TORONTO   03/28/2008



→   PMI Mortgage Insurance Co. Forms Homeownership Preservation Team
PMI Mortgage Insurance Co., a subsidiary of The PMI Group, Inc. (NYSE:PMI) , today announced the formation of a homeownership preservation team led by John Jelavich, PMI's newly appointed Vice President of Homeownership Preservation Initiatives. -- The PMI Group Inc.,John Ryan 2,San Francisco California  03/28/2008



→   Bullish Forecast Despite Doom and Gloom
Mortgage Guru Calls Market Bottom and Says Recession Unlikely! -- Nexus Financial Group,Michael Peart,West Palm Beach Florida  03/28/2008



→   Integrus Lending Group Partners With Primary Residential Mortgage, Inc. in Divisional Program
Former American Home Mortgage executives Frank Catalano and Debra Klosterman have entered into a divisional partnership with Salt Lake City-based Primary Residential Mortgage, Inc. (PRMI). Having worked in the Illinois mortgage market for over 20 years, Catalano and Klosterman will continue serving Chicago-area markets under the name "Integrus Lending Group." Integrus officially opened their doors for business on March 14, 2008, with partners Angela Gentry, Gary Moore, Donna Bianco, and Tony Piotrowski, also of the late American Home Mortgage. -- Primary Residential Mortgage, Inc.,Dave Zitting,ELMHURST il  03/28/2008



→   Shore Mortgage Recruiting Additional 100 New Employees - First 150 Jobs Filled, Current Needs Include Underwriters, Loan Officers and Support Staffs
Shore Mortgage, a full service mortgage company offering new mortgages as well as refinancing services, has four locations throughout the Detroit metropolitan area. The company continues to be among the largest government guaranteed and insured mortgage originators locally in Michigan as well as nationwide. -- Shore Mortgage,Angie Bournias,Birmingham Michigan  03/28/2008



→   Triad Guaranty Mortgage Insurance Offered Through Mortgage Builder's Loan Origination System
Triad Guaranty Inc. (NASDAQ:TGIC) announced that its subsidiary, Triad Guaranty Insurance Corporation, has joined with Mortgage Builder Software, Inc. to offer its various mortgage insurance programs using Mortgage Builder's loan origination system (LOS). Approved lenders can now utilize the Mortgage Builder(R) LOS to submit mortgage insurance applications to Triad. -- Triad Guaranty Insurance Corporation,Jerry Schwartz,Winston Salem North Carolina  03/28/2008



→   FAIRWAY INDEPENDENT MORTGAGE POSTS HIGHEST VOLUME IN 12 YEAR HISTORY
Surge in refinancings fuels company’s growth -- Fairway Independent Mortgage Corporation,Infoi,SUN PRAIRIE wi  03/28/2008



→   TOWERGROUP: LOSSES RESULTING FROM MORTGAGE FRAUD IN U.S. WILL REACH $2.5 BILLION IN 2008
Falling home prices and inappropriate mortgage underwriting have grabbed the headlines and much of the blame for mortgage credit woes in recent months. But the significant rise in mortgage fraud over the past 10 years is another important trend. New research from TowerGroup predicts that losses from mortgage fraud will reach $2.5 billion (USD) in 2008 and that comparable losses will continue for several years thereafter. TowerGroup anticipates that lenders will respond by deploying technology tools to assist in the detection and prevention of mortgage fraud and that their annual spending on such tools will reach several hundreds of millions of dollars in the next few years. -- TowerGroup,Information,Needham Massachusetts  03/28/2008



→   Overwhelming Consumer Response To Lend America’s Primetime Showing Of Critically Acclaimed Educational Television Program
- Receives over 4,000 inquiries in first five minutes from homeowners seeking mortgage solutions - -- LendAmerica,Mary McPhall,Melville NY  03/28/2008



→   NATIONWIDE DEFAULT INDUSTRY ASSOCIATION HOLDS SPRING CONFERENCE
REOMAC® Members Gather to Discuss Current Real Estate and Default Market -- REOMAC,Info,INDIAN WELLS ca  03/28/2008



→   Homeowners Take First-Ever Tax Deduction for Mortgage Insurance
Many qualified taxpayers are preparing to claim their first-ever tax deduction for mortgage insurance premiums on home loans that closed in 2007. -- Mortgage Insurance Companies of America,Jeff Lubar,Washington DC  03/28/2008



→   Foreclosure Listings Site Reports Decrease in Foreclosed Homes in San Diego
New Foreclosure Online, a Web site dedicated to foreclosed homes, has seen a recent decrease in the number of homes listed in San Diego County. -- New Foreclosure Online,Mike Cheslar,San Diego ca  03/28/2008



→   MBA Releases 4th Quarter 2007 Commercial Real Estate/ Multifamily Finance Quarterly Data Book
The Mortgage Bankers Association (MBA) today released its Commercial Real Estate/Multifamily Finance Quarterly Data Book for the fourth quarter of 2007. The Data Book compiles the most up-to-date information on topics of interest to financial investment industry participants and observers. -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia  03/28/2008



→   MEDIA PODCAST: MBA Comments on Shifting Landscape of Tax Credit and Multifamily Markets
The Mortgage Bankers Association's (MBA) Senior Vice President of Multifamily and Governance, Cheryl Malloy examines the recent removal of GSE portfolio growth caps by OFHEO and provides assessment of the current issues facing tax credit programs. -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia  03/28/2008



→   MISMO® and PRIA Release IPR Disclosure Draft of Business Requirements for eRecording Electronic Recordable Instruments
MISMO, the not-for-profit data standards subsidiary of the Mortgage Bankers Association (MBA), and the Property Records Industry Association (PRIA) today published the IPR (Intellectual Property Rights) Disclosure Draft of a Business Requirements Document which addresses and describes the business requirements for the eRecording of electronic recordable instruments in common electronic document formats such as MISMO SMART Doc®, eSigned PDF and Adobe Intelligent Document Format, and Microsoft® Word with embedded-XML. The document, entitled eRecording Electronic Document Formatted Recordable Instruments, also includes business function descriptions, a process flow diagram and project assumptions, constraints, and dependencies. -- Property Records Industry Association,Stevie Hughes,Washington DC  03/28/2008



→   MBA's Quinn Hails FHFB's Decision to Allow Home Loan Banks to Increase Market Liquidity
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) applauded today's action by the Federal Housing Finance Board (FHFB) that will temporarily permit the Federal Home Loan Banks to purchase up to six times their capital in Fannie Mae and Freddie Mac mortgage backed securities (MBS). The FHFB estimates this could inject approximately $100 billion in liquidity into the MBS market. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia  03/26/2008



→   Outstanding senior home equity remains solid in spite of current home market lull, senior home equity is still in trillions
Consistent with current market conditions, senior home equity declined by $27 billion in Q4 2007 as measured by the National Reverse Mortgage Lenders Association/Hollister Reverse Mortgage Market Index (NRMLA/RMMI) Report. The consecutive quarter decline is attributable to the recent dip in overall home values across the nation. -- National Reverse Mortgage Lenders Association,Darryl Hicks,WASHINGTON dc  03/26/2008



→   Cogent Road Debuts Score Protection with Funding Suite
Automated credit proofreading tools eliminate additional inquiries, preserves existing scores -- Cogent Road, Inc.,Information,San Diego CA  03/26/2008



→   ICBA Statement on Permitting Greater MBS Purchases by Federal Home Loan Banks, Fannie Mae, Freddie Mac
Camden R. Fine, president and CEO of the Independent Community Bankers of America (ICBA), issued the following statement on the Federal Housing Finance Board’s decision to permit the Federal Home Loan Banks to increase the level of mortgage security purchases: -- The Independent Community Bankers of America,Bill Grassano,Washington DC  03/26/2008



→   Wooster Asset Management Doubles Staff Size; Erik Postnieks, CEO, Expands Research, Risk Management and Operations Functions
Erik Postnieks, CEO and CIO of Wooster Asset Management hires 3 new team members to enhance Research, Risk Management and Operations Functions. Wooster Asset Management to relocate to 7 Times Square office suite at the end of March 2008. -- Wooster Asset Management, LLC,Information,New York NY  03/26/2008



→   WisePiggy.com Launches Mortgage Refinancing Quiz with Regard to Federal Reserve Cuts
Recent rate cuts by the Fed have some homeowners in a bind. With mortgage rates at their lowest in more than a month, is it time to look into refinancing? WisePiggy.com's featured quiz, "Is it Time to Refinance Your Mortgage?" helps homeowners make smart personal finance decisions when it comes to refinancing. -- WisePiggy.com,Information,   03/26/2008



→   Reverse-Mortgage-Info.net expands to San Diego, Los Angeles, San Francisco and Sacramento
Leading reverse mortgage lender now has specialists located in the top four major metropolitan areas in California -- Reverse Mortgage Info,Luke Helm,Santa Ana CA  03/26/2008



→   Mortgage Applications Spike In Latest MBA Weekly Survey; Refis Up 82 Percent
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 21, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 965.9, an increase of 48.1 percent on a seasonally adjusted basis from 652.0 one week earlier. On an unadjusted basis, the Index increased 46.1 percent compared with the previous week and was up 41.1 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  03/26/2008



→   LoanSifter Integrates With MortgageDashboard(TM)
LoanSifter, the industry`s leading product search and pricing engine for wholesale and correspondent brokers, announces its product is now tightly integrated with the MortgageDashboard Web-based loan origination system (LOS) offered by Austin, Texas-based VueCentric Inc. As part of its integration strategy, VueCentric will offer LoanSifter to its user base immediately. -- Loansifter.com,Loansifter,LITTLE CHUTE wi  03/24/2008



→   OFHEO, Fannie Mae and Freddie Mac Announce Initiative to Increase Mortgage Market Liquidity
OFHEO, Fannie Mae and Freddie Mac today announced a major initiative to increase liquidity in support of the U.S. mortgage market. The initiative is expected to provide up to $200 billion of immediate liquidity to the mortgage-backed securities market. -- Freddie Mac,Information,MCLEAN va  03/24/2008



→   The Recession List - Top 10 Industries to Fly and Flop in 2008
VoIP Providers And Corn Farmers Can Expect To Have Bumper Years In 2008 And Beyond, According To The Latest Research Released By Business Information Analysts At IBISWorld -- IBISWorld,Harvey Jones,Los Angeles CA  03/24/2008



→   Existing-Home Sales Rise in February
Sales of existing homes increased in February and remain within a fairly stable range, according to the National Association of Realtors(R). -- National Association of Realtors®,Walter Molony,Washington dc  03/24/2008



→   Lender Lead Solutions Continues to Expand Nationwide Wholesale Platform
-Reverse mortgage leader hires team of new employees to support local broker partners- -- Lender Lead Solutions,Michele Baratta,MELVILLE NY  03/24/2008



→   Bankrate: Fixed mortgage rates plunge
Fixed mortgage rates fell sharply in the past week, with the average conforming 30-year fixed mortgage rate now 5.98 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.38 discount and origination points. -- BankRate.com,Information,New York NY  03/24/2008



→   Washington County, Wisconsin Now eRecording Deeds with SimplifileSM
Working together to effectuate the electronic filing and recording of land record documents such as deeds and mortgages in the state of Wisconsin, Simplifile and the Washington County Register of Deeds Office announced today that the inaugural electronic recording (eRecording) of a deed in Washington County, Wisconsin occurred on March 10, 2008. The historic transaction marked the first time a deed has been electronically transmitted to and recorded by the Register of Deeds Office within the County. -- Simplifile, LC,Rob Moore,WASHINGTON COUNTY Wi  03/24/2008



→   HFF Los Angeles hires Michael Bachenheimer as director in debt placement group
HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has hired Michael Bachenheimer in Los Angeles as a director in the debt placement group. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,LOS ANGELES ca  03/24/2008



→   SIX CRITICAL THINGS TO DO WHEN LOOKING FOR MORTGAGE FINANCING
Borrowers must avoid expensive mistakes when seeking bargains in today’s “buyer’s market” -- MortgageAnswersFast.com,Bruce Brown,Kansas City mo  03/24/2008



→   SIX CRITICAL THINGS TO DO WHEN LOOKING FOR MORTGAGE FINANCING
Borrowers must avoid expensive mistakes when seeking bargains in today’s “buyer’s market” -- MortgageAnswersFast.com,Bruce Brown,Kansas City mo  03/24/2008



→   Volume of Maturing Commercial/Multifamily Mortgages to Be Low in Coming Years
The Mortgage Bankers Association (MBA) is today reporting that the commercial and multifamily mortgage market faces limited exposure to refinance risks stemming from the current credit crunch through the release of its Research DataNote. The report notes that relatively few commercial/multifamily mortgages will mature in the next two years. -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia  03/21/2008



→   Wells Fargo Completes SISAC Accreditation Process
Significant Step Increases Mortgage Transaction Security -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia  03/21/2008



→   Mortgage Credit News - March 21, 2008
Some progress this week by the authorities has helped mortgage rates to fall to the 5.75% area for the first time since January. However, the improvement is limited to vanilla “Agency” loans, the Jumbo and even Agency ARM markets still broken. The Crunch is still alive, growing tighter, the financial system unstable. -- Boulder West Financial Services,Lou Barnes,Boulder Colorado  03/21/2008



→   The Federal Reserve Lowers Interest Rates AGAIN... What Does This Mean For YOU?
Discount Rate (currently 2.5%) - the interest rate that banks pay when they borrow money directly from the Fed. The rate has been largely symbolic in the past because banks prefer to get short term financing -- CMPS Institute,Josephine Nicholas,   03/20/2008



→   Fed Drives Mortgage Rates Up?
What every home owner and buyer needs to know about the Fed rate cuts -- CMPS Institute,Josephine Nicholas,Ann Arbor MI  03/20/2008



→   Virgin Money USA Leads Industry in Private Mortgage-Based Loans
Growing Number of Homeowners Seek Intra-Family Mortgage Loans Over Traditional Lending Sources -- Virgin Money USA,Laren Frueh,Waltham MA  03/20/2008



→   CRESCENT MORTGAGE INCREASES EFFICIENCY IN ITS WORKFLOW BY DEPLOYING AVISTA SOLUTIONS’ LOAN ORIGINATION SYSTEM
Avista’s Wholesale Mortgage Platform fulfills entire wholesale workflow process, from origination through closing -- Avista Solutions,Mark Phlieger,Columbia South Carolina  03/20/2008



→   Industry First: Rapid Reporting to Provide Immediate, Real-Time Identity Verification
Social Security Administration releasing new technology, enabling Rapid Reporting to provide the industry with real-time identity verification service to dramatically reduce fraud at origination -- Rapid Reporting Verification Company,Ray Pella,Fort Worth Texas  03/20/2008



→   ELLIE MAE LAUNCHES CENTERWISE WEB AND DOCUMENT SOLUTION
Service offers unlimited electronic document management and an integrated retail web site to encourage e-origination -- Ellie Mae Inc.,David Lewis,Pleasanton California  03/20/2008



→   ChoicePoint's MARI Introduces New Mortgage Loan Fraud Alert Service
The Mortgage Asset Research Institute (MARI(sm)), a ChoicePoint® (NYSE: CPS) company, today announced the release of its new MARI Loan Fraud Alert Service (LFAS). MARI LFAS is a mortgage industry-contributed loan process database that enables lenders and investors to identify potential application risk, patterns of fraud and hidden relationships among transaction parties. -- ChoicePoint Asset Company LLC.,Kimberly Tate,Reston VA  03/20/2008



→   Numbers Don't Lie: LoanBiz.com Analyzes Correlation Between Federal Funds Rates and Home Mortgage Rates
While Federal Reserve watchers disagree about the impact of its cuts on mortgage rates, a look at historical data shows how the Fed's rates impact--and don't impact--various mortgage products. LoanBiz.com takes this data and combines it with expert commentary for a comprehensive look at how Fed rate changes affect the economy and consumers' personal finances. -- Loan Biz,Information 7389,Reno NV  03/20/2008



→   Statement From Michael Calhoun - President, Center for Responsible Lending
The Federal Reserve Board has repeatedly tried since September to contain the foreclosure crisis damage that`s spreading rapidly into the general economy. It has lowered key interest rates a half dozen times and, to quote the Wall Street Journal, `undertaken the broadest expansions of its lending authority since the 1930s.` The most dramatic action, however, came last weekend as the Federal Reserve orchestrated a bailout of Bear Stearns, one of the main financial firms responsible for causing this subprime mortgage mess in the first place. -- Center for Responsible Lending,Kathleen Day,Washington DC  03/20/2008



→   CampusMBA Welcomes Four New ertified Mortgage Technologist (CMT) Designees to Its Ranks
CampusMBA, the award-winning education division of the Mortgage Bankers Association (MBA), today announced that four information technology professionals have earned the prestigious Certified Mortgage Technologist (CMT) designation over the past year. The announcement was made during MBA's annual National Technology in Mortgage Banking Conference in Dallas, TX. -- Mortgage Bankers Association of America,John Mechem,Dallas TX  03/20/2008



→   Fannie Mae Contributes SMART Doc® Validation Patent to MISMO®
Intellectual Property Contribution Makes SMART Doc Validation Method Freely Available to Industry -- Mortgage Bankers Association of America,Carolyn Kemp,Dallas Tx  03/20/2008



→   Mortgage Applications Decrease Slightly In Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 14, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 652.0, a decrease of 2.9 percent on a seasonally adjusted basis from 671.7 one week earlier. On an unadjusted basis, the Index decreased 2.8 percent compared with the previous week and was down 3.7 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Carolyn Kemp,Washington District of Columbia  03/20/2008



→   MBA's Quinn: OFHEO Move to Reduce GSE Capital Requirements is a Crucial Step to Jumpstart the Mortgage Market
Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) hailed today's agreement between the Office of Federal Housing Enterprise Oversight (OFHEO) and Fannie Mae and Freddie Mac (the GSEs) allowing the GSEs to use a significant portion of their capital surplus for purchasing mortgages and mortgage-backed securities (MBS). OFHEO estimates this will result in an immediate injection of $200 billion into the secondary mortgage market. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia  03/20/2008



→   GEORGE MCGOVERN OF LOVE FUNDING’S CLEVELAND OFFICE SECURES FHA LOAN FOR HIGHLAND CREST APARTMENTS
National mortgage-baking firm Love Funding today announced that its Cleveland office closed a $358,000 loan for Highland Crest Apartments, a 20-unit multifamily complex in Toledo, Ohio. George McGovern, who serves as Director of Affordable Housing for Love Funding and as President of Love Funding’s broker/dealer underwriting service, LFC Securities, LLC, originated the transaction. -- Love Funding Corp.,Robyn Cunningham,Cleveland Oh  03/20/2008



→   Innovative Aftermarket Systems (IAS) Selects EquityDriver as Bi-Weekly Payment Program
Principal Payment Network announced that Innovative Aftermarket Systems (IAS), a provider of F&I selling software and aftermarket programs, has selected EquityDriver as their bi-weekly payment provider. IAS will integrate EquityDriver into their SmartMenu application to provide a turnkey solution for their dealers. -- IAS, L.P.,Kris Wiley,Dallas Tx  03/18/2008



→   Top 10 Commercial Lenders, Principal Global Investors and Capstone Realty Advisors Utilize Hyland Software's OnBase for Document Management
- Two of top 10 commercial lenders use OnBase to improve process efficiency, cut costs, support disaster recovery initiatives - -- Hyland Software Inc.,Lindsey Quirk,Cleveland oh  03/18/2008



→   This April, the Home Builders Association of Metropolitan Portland Presents The Second Annual Ultimate Open House(TM)
The Ultimate Open House(TM) home tour is an opportunity for today`s buyers to walk through nearly 100 new condos, townhomes and custom-designed homes crafted by the area`s top builders -- Home Builders Association of Metropolitan Portland,Christy Caplan,Lake Oswego OR  03/18/2008



→   HFF secures refinancing for Doubletree Hotel Pittsburgh Airport
The Pittsburgh office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a refinancing for the Doubletree Hotel Pittsburgh Airport in Pittsburgh, Pennsylvania. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,PITTSBURGH pa  03/18/2008



→   The Mortgage Coach Releases Critical “Stimulus Package” for Loan Officers
Stimulus Package rescues loan originators from slow originations caused by worsening credit crunch, falling real estate values and the unprecedented and frequent changes to underwriting guidelines -- The Mortgage Coach,Mike Baker,Irvine California  03/18/2008



→   Lydian Integrates to NYLX to Help Lenders Increase Loan Quality
Lydian Integrates to NYLX to Help Lenders Increase Loan Quality By combining NYLX`s best execution and pricing with Lydian`s best practices fulfillment services, mortgage originators benefit from a low cost, low risk solution to increase profitability MT. ARLINGTON, NJ and JACKSONVILLE, FL, March 17, 2008 – After months of preparation and technical development, two leaders in mortgage technology have announced a partnership that increases loan quality, decreases costs, and reduces risk for lenders and originators of all types. The partnership connects Lydian Data Services and Lydian Technology Group clients with NYLX`s point of sale technology, equipping clients with a front end solution that offers real-time pricing and product selection, as well as customer-facing web portal capabilities. NYLX clients can now easily connect to Lydian`s award-winning Mortgage Connectivity Hub to seamlessly connect to various lending platforms, effectively package loans for processing or delivery to a wholesale lender, and easily leverage Lydian`s extensive business process outsourcing (BPO) services. -- Lydian Data Services,Philippe Turpault,MT. ARLINGTON NJ  03/17/2008



→   River Funding Selects OpenClose to Automate Lending
Wis.-based wholesale lender River Funding Corp. selected OpenClose as its end-to-end solution -- OpenClose Solutions: Mortgage Software,Frank Bocchino,West Palm Beach FL  03/17/2008



→   Byte Software Releases ByteSync
A value-added module providing a two-way interface between BytePro and LoanToolbox -- Byte Software Inc.,Niki Maxwell,Kirkland Washington  03/17/2008



→   You Too Can Open a Lending Company in 2008
`Hurricane Mortgageā€¯ has wreaked still untold havoc. However, for those mortgage executives who weathered the storm and planned to start a mortgage lending company in 2008, the forecast is surprisingly sunnyā€¦ thanks toā€¦ new technological advances that save overhead costs... -- OpenClose Solutions: Mortgage Software,Frank Bocchino,West Palm Beach FL  03/15/2008