MMag Mortgage Lending November 15, 2008

Mortgage Lending November 15, 2008

→ Leading National Senior Housing/healthcare Lender Offers Tips For Success In A Tight Credit Market
Cambridge Realty Capital Companies put together a series of suggestions and tips to owners and operators of senior housing properties beginning in 2002 to address financing in a challenging capital and financial market in senior housing. The company feels these continue to be very timely and is re-releasing this article due to its timeliness in the current financial environment. -- Cambridge Realty Capital Ltd,Debbie Glienke,Chicago Illinois 11/13/2008

→ Love Funding`s Knoxville Office Secures More Than $2.4 Million In Finanacing For Two Multifamily Housing Complexes In Tennessee
National mortgage banking firm Love Funding today announced that Tammy Tate, Vice President of the company𠏋 Knoxville office, secured more than $2.4 million in financing to fund repairs and upgrades for two multifamily complexes in Columbia, Tenn. Tate closed a $1,309,000 refinance loan for the 52-unit Forrest Acres and a $1,096,500 refinance loan for the 44-unit Colonial Village. Both deals were secured through HUD𠏋 207/223(f) loan program and included a 35-year amortization. -- Love Funding Corp.,Robyn Cunningham,Knoxville Tenn 11/13/2008

→ Love Funding Secures Nearly $5 Million For Ohio Assisted Living Facility
Love Funding, a national mortgage-banking firm, today announced that its Cleveland office closed a $4,963,200 refinance loan for Governor𠏋 Village, an assisted living facility located in Mayfield Village, Ohio. Robert L. Smallwood, Vice President with Love Funding𠏋 Cleveland office, originated the transaction. -- Love Funding Corp.,Robyn Cunningham,Cleveland Ohio 11/13/2008

→ Rma Announces Key Findings From The Survey On Stress Testing And Scenario Analysis Practices
Stress test results are most widely incorporated into the individual and portfolio lending decisions, concentrations and limits setting, and the allowance for loan and lease losses. The results are not being utilized fully in strategic planning or capital planning. -- The Risk Management Association,Meg McBride,Philadelphia Pa 11/13/2008

→ Ellie Mae Awarded Patent For Innovative ePASS Technology
Industry`s premier platform enabling secure online transmission of loan data is now protected by U.S. Patent -- Ellie Mae Inc.,David Lewis,Pleasanton California 11/13/2008

→ First American Credco Launches New Online Ordering Platform
𣶷implified Product Ordering; Faster Product Development� -- First American Credco,David Woodruff,Poway California 11/13/2008

→ Cogent Road Launches Recovery Strategy - Enables Loan Officers To Retain And Close More Applicants -
Cogent Road, a provider of Internet-based applications for the mortgage industry, announced the launch of Recovery Strategy, a system enabling loan officers to recover and qualify initially declined applicants to help maximize their borrowing power. -- Cogent Road, Inc.,Information,SAN DIEGO ca 11/13/2008

→ MBA Originations Survey Shows Shift To Fixed Rate And Government Loan Products In First Half Of 2008
Borrowers who took out mortgages in the first half of 2008 showed a strong preference for fixed rate mortgage products due to a decrease in fixed mortgage rates and the continued tightening of lending standards, according to the Mortgage Bankers Association's (MBA's) Mortgage Originations Survey released today. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 11/13/2008

→ HFF Secures $4.7 Million Financing For Retail Lifestyle Center In Washington Township, New Jersey
The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured a $4.7 million permanent loan for Long Valley Village, a 29,600-square-foot lifestyle retail center in Washington Township, New Jersey. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Florham Park Nj 11/13/2008

→ HFF Arranges Refinancing For Dairy Ashford Plaza In Houston
The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged refinancing for Dairy Ashford Plaza, two office buildings in the Westchase submarket of Houston, Texas. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Houston Tx 11/13/2008

→ HFF Arranges $9.74 Million In Financing For Two Office Towers In Oklahoma City
The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured $9.74 million in financing for Atrium Towers, twin six-story office buildings totaling 156,106 square feet in Oklahoma City, Oklahoma. -- HFF (Holliday Fenoglio Fowler, L.P.),Laurie Fish McDowell,Houston Tx 11/13/2008

→ County Level Ias360 House Price Index Data Showing Promise Amid Worsening Housing Market In September
Integrated Asset Services, LLC (IAS, www.iasreo.com), a leader in default management and residential collateral valuation, today released its IAS360� House Price Index for September 2008. The monthly report, which includes the most current and granular data available in the industry, showed a 2.1% decline in house prices on a national level in September, with an annual decline of 13.3%. However, the data also shows bright spots at the individual county level with 75 of the 360 counties showing month to month improvement in September (contact dmahoney@csg-pr.com to see 75 the counties). -- ,Robyn,Denver co 11/13/2008

→ Basepoint� Announces Availability Of Free Identity Theft Risk Assessment
World renowned fraud experts team with LifeLock� to shield consumers from identity theft -- BasePoint Analytics,Info,CARLSBAD ca 11/13/2008

→ Creative Selling Solutions In A Changing Hospitality Market
There are a variety of ways to make deals for properties -- ,Earle Wason, 11/13/2008

→ MBA Honors Michael W. Young Of Cenlar Fsb With The 2008 Andrew D. Woodward Distinguished Service Award
The Mortgage Bankers Association (MBA) today awarded Michael W. Young, Chairman of the Board of Cenlar FSB, with the Andrew D. Woodward Distinguished Service Award at the Association's 95th Annual Convention and Expo held in San Francisco, CA. The award was given to Young in recognition of his dedication and prominent service to MBA and the mortgage lending industry. -- Mortgage Bankers Association of America,Aleis Stokes,Washington District of Columbia 11/13/2008

→ Campusmba Graduates 34 Certified Mortgage Bankers During MBA Annual Convention
Graduates Join the Ranks of Over 1,000 CMBs Committed to Excellence within the Mortgage Banking Industry -- Mortgage Bankers Association of America,Aleis Stokes,Washington District of Columbia 11/13/2008

→ Rawson, Blum & Leon and West Valley Properties Form New Company RBL Real Estate, Inc. to Acquire & Develop Retail and Commercial Projects in Western U.S.
West Valley Properties, Inc. of Los Altos, Calif., and Rawson, Blum & Leon of San Francisco, Calif. have formed RBL Real Estate, Inc. to acquire, develop and manage retail and commercial properties in the western U.S. The new company will also assist financial institutions and investors in managing, stabilizing, repositioning and/or disposing of their real estate holdings. In addition, RBL Real Estate has the ability to recapitalize existing projects in order to complete development or redevelopment objectives. With more than 4 million square feet of combined property under ownership and management, both companies have the appropriate staffing and resources, as well as previous experience in economic down cycles, to effectively navigate development and leasing issues in order to maximize value. -- Monaghan Communications,Anne Monaghan,newport beach California 11/10/2008

→ New `Red Flag` Requirements for Financial Institutions and Creditors Will Help Fight Identity Theft
Identity thieves use people’s personally identifying information to open new accounts and misuse existing accounts, creating havoc for consumers and businesses. Financial institutions and creditors soon will be required to implement a program to detect, prevent, and mitigate instances of identity theft. -- ,Janice Gaynor, 11/03/2008

→ Mortgage Lender Residential Finance Corp. Expands Into Former Indymac Offices To Accommodate Growing Staff
Outgrowing Tampa offices, mortgage lender increases staff twenty-five percent, moves to Class A facility, plans for more loan officers, managers -- Residential Finance Corporation,Info,Tampa fl 11/03/2008

→ Coreland Companies Negotiates Two Leases in Orange County Valued at $3.1 Million
Coreland Companies` leasing / sales division negotiated two leases in Orange County, CA: a 5-year $2 million lease with Orbital Sciences Corporation to occupy a 12,430-square-foot majority portion of the top floor of the six-story building at 7711 Center Avenue, The Towers at Bella Terra (formerly known as One Pacific Plaza) in Huntington Beach; and a 7.5-year $1.1 million lease with The Glidden Company, dba ICI Paints, to occupy a 4,250-square-foot freestanding building at 3010 Bristol Avenue in Costa Mesa. -- Monaghan Communications,Anne Monaghan,newport beach California 10/24/2008

→ Florida`s Existing Home, Condo Sales Increase in September 2008, According to Florida Association of Realtors(R)
For the first time in almost three years, Florida`s existing home sales rose in September, noting a 24 percent increase in activity in the year-to-year comparison; last month`s sales of existing condos statewide increased 11 percent in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors(R) (FAR). -- Florida Association of Realtors(R) ,Marla Martin,Orlando Fl 10/24/2008

→ New Book is First Modern History of the Mutual Fund Industry
Matthew P. Fink, Former President of the ICI, Offers Firsthand Narrative and Analysis of Key Developments That Contributed to Industry Success -- Oxford University Press, ,,New York Ny 10/24/2008

→ West Monroe Partners Establishes Troubled Asset Relief Program (TARP) Team
Consultants Experienced in Document Management and Financial Services Operations Help Institutions Comply with Documentation, Data, and Collateral Requirements. -- West Monroe Partners ,Michelle Ryckman,Chicago Il 10/24/2008

→ First Group of Savers that Qualified for Mortgages with Savings Subsidy are Ready: Urbi
-- Urbi continues to strengthen its product mix by consolidating its participation in economic housing. -- Urbi Desarrollos Urbanos S.A.B. de C.V. ,Antonio Jorge,Mexicali Mexico 10/24/2008