Mortgage Banking

Founded in 1939, Mortgage Banking Magazine is a professional trade magazine published by Mortgage Bankers Association of America. Its headquarters are located in Washington, D.C. The magazine is published monthly and serves the banking, real estate and financial markets. Janet Hewitt is the editor-in-chief.

Articles from Vol. 65, No. 2, November

2005 Housing and Mortgage Markets: A Personal Perspective
As 2004 DRAWS TO A CLOSE, THERE is every indication that once again robust housing and mortgage markets made very significant contributions to the nation's economic well-being. And, as a group, residential real estate, home building and mortgage professionals...
A Very Competitive Market
While mortgage volume is expected to drop this year for many lenders, some wholesale operations are rapidly growing. We profile four companies that are ramping up their sales staff, product lineup and customer service to help grab market share. The...
Ca Median Home Price Increases, Sales Decline in August
ACCORDING TO THE CALIFORNIA ASSOCIATION of Realtors (C.A.R.), the median price of an existing home in California in August increased 16.8 percent and sales declined 8.5 percent, compared with the same period a year ago.Closed escrow sales of existing,...
CA Median Home Price Increases, Sales Decline in August
ACCORDING TO THE CALIFORNIA ASSOCIATION of Realtors (C.A.R.), the median price of an existing home in California in August increased 16.8 percent and sales declined 8.5 percent, compared with the same period a year ago. Closed escrow sales of existing,...
Commercial/multifamily Mortgage Debt Outstanding Hits Record Levels in Q2
THE MORTGAGE BANKERS ASSOCIATION (MBA) has released its analysis of Federal Reserve Board data, showing continued increases in commercial and multifamily mortgage debt outstanding. Commercial and multifamily mortgage debt increased by $60.8 billion,...
Commercial/multifamily Mortgage Debt Outstanding Hits Record Levels in Q2
THE MORTGAGE BANKERS ASSOCIATION (MBA) has released its analysis of Federal Reserve Board data, showing continued increases in commercial and multifamily mortgage debt outstanding. Commercial and multifamily mortgage debt increased by s6o.8 billion,...
Countrywide Nation's No. 1 Lender in Emerging Markets
COUNTRYWIDE HOME LOANS INC., CALabasas, California, announced it has become the nation's leading mortgage lender to emerging-markets communities, which include African-American, Hispanic, Asian/Pacific Islander and American Indian/Alaskan Native homeowners....
Double-Digit Increases in Ca Median House Price Continue
ACCORDING TO THE Los ANGELES-BASED California Association of Realtors'® (C.A.R.'s) Housing Market Forecast, the median price of a single-family home in California will again increase by double-digits in 2005, reaching $522,930, while sales will decrease...
Double-Digit Increases in CA Median House Price Continue
ACCORDING TO THE LOS ANGELES-BASED California Association of Realtors'[R] (C.A.R.'s) Housing Market Forecast, the median price of a single-family home in California will again increase by double-digits in 2005, reaching $522,930, while sales will decrease...
E*TRADE's New Ventures
This young mortgage company has found success with correspondent lending, and now will try its hand at wholesale and warehouse lending.SUPER BOWLS ARE KNOWN FOR their creative advertisements, and one of the more memorable spots in recent years came from...
E*TRADE's New Ventures: This Young Mortgage Company Has Found Success with Correspondent Lending, and Now Will Try Its Hand at Wholesale and Warehouse Lending
SUPER BOWLS ARE KNOWN FOR their creative advertisements, and one of the more memorable spots in recent years came from E*TRADE FINANCIAL Corporation, the New York-based financial services firm. The so-called "monkey flop" ad starts out with a chimpanzee...
Fannie Mae Directors Agree to Correct Accounting Treatments, Raise Capital Surplus
OFFICE OF FEDERAL HOUSING ENTERPRISE Oversight (OFHEO) Director Armando Falcon Jr. announced an agreement with the Fannie Mae board of directors requiring immediate action to address the improper accounting and inadequate controls detailed in OFHEO's...
Fannie Mae Directors Agree to Correct Accounting Treatments, Raise Capital Surplus
OFFICE OF FEDERAL HOUSING ENTERPRISE Oversight (OFHEO) Director Armando Falcon Jr. announced an agreement with the Fannie Mae board of directors requiring immediate action to address the improper accounting and inadequate controls detailed in OFHEO's...
Four Faces of Fraud
Mortgage fraud is on the rise, but so are the tools to fight it. Here are some perspectives on what lenders need to do to prevent the problem.MORTGAGE FRAUD IS A PROBLEM THAT HAS YET TO BE adequately defined or measured. The true financial impact is...
Four Faces of Fraud: Mortgage Fraud Is on the Rise, but So Are the Tools to Fight It. Here Are Some Perspectives on What Lenders Need to Do to Prevent the Problem
MORTGAGE FRAUD IS A PROBLEM THAT HAS YET TO BE adequately defined or measured. The true financial impact is unknown because most lenders do not track fraud losses separately from their credit losses. While the Federal Bureau of Investigation (FBI)...
Fraud-And the Victim Is You
MORTGAGE FRAUD HAS MOVED INTO the headlines, with a recent article in USA Today stating in bold type that the FBI considers the problem an "epidemic." An Associated Press headline also recently announced: "Mortgage Fraud is Rampant in U.S." Just through...
Giving Wholesale a Try
WHILE NO ONE IS GETTING FAMOUS FOR ACCURATELY predicting where interest rates will go, there can be no doubt that the mortgage lending market has cycled past the super-high volumes of the refinance boom. Even without dramatically rising rates, mortgage...
Giving Wholesale a Try: Traditional Retail Lenders Are Learning That It Might Not Be as Difficult as They Thought to Expand into Wholesale Lending
WHILE NO ONE IS GETTING FAMOUS FOR ACCURATELY predicting where interest rates will go, there can be no doubt that the mortgage lending market has cycled past the super-high volumes of the refinance boom. Even without dramatically rising rates, mortgage...
Grunge Marketing
MOST LENDERS READILY ASSERT THAT they offer borrowers excellent value. Yet value ultimately is defined by consumers rather than by companies. And unless a firm's services change as its customers do, its value proposition won't mean as much tomorrow...
HOLLIDAY FENOGLIO FOWLER's SUCCESS
HOLLIDAY FENOGLIO FOWLER LP (HFF), A LEADING PLAYER IN THE WORLD OF COMMERCIAL REAL ESTATE FINANCE, IS HAVING A GOOD YEAR. The company is charting further gains in 2004 following a record-setting year for transaction volume and expansion of its capital...
Holliday Fenoglio Fowler's Success: A Decentralized Management Structure and the Ability to Structure Just about Any Type of Deal Produced Record Results for Holliday Fenoglio Fowler in 2003. This Year It Is Building on That Successful Track Record in the Competitive Arena of Commercial Real Estate Finance
HOLLIDAY FENOGLIO FOWLER LP (HFF), A LEADING PLAYER IN THE WORLD OF COMMERCIAL REAL ESTATE FINANCE, IS HAVING A GOOD YEAR. The company is charting further gains in 2004 following a record-setting year for transaction volume and expansion of its capital...
Is Your Company Big Enough to Go Public?
EVEN THOUGH 2004 HAS BEEN A volatile year for companies involved in the mortgage business, many have enjoyed a period of exceptional growth and profitability in the past several years. This is an appropriate time for business owners to examine ways...
LoanPerformance Gets a Fed Economist
SAN FRANCISCO-BASED LOANPERFORMANCE INC., A DATA, research and analytics company, has landed an influential senior economist from the Fed. Paul S. Calem, who received his Ph.D. in economics from Brown University, left the Federal Reserve Board in September,...
Meeting the Increasing Expectations of Borrowers
OVER THE PAST FEW YEARS, WE have seen customer expectations for service excellence increase dramatically across most industries. The mortgage industry is certainly no exception. On the origination side, mortgage lenders now offer a broader array of...
Moody's Downgrades Three Classes of Meristar
NHW YORK-BASED MOODY'S INVESTORS SERvice downgraded the ratings of three classes and confirmed the ratings of three classes of MeriStar Commercial Mortgage Trust, commercial mortgage pass-through certificates, series 1999-61 as follows: class A-I, $38,022,393,...
Moody's Downgrades Three Classes of MeriStar
NEW YORK-BASED MOODY'S INVESTORS SERvice downgraded the ratings of three classes and confirmed the ratings of three classes of MeriStar Commercial Mortgage Trust, commercial mortgage pass-through certificates, series 1999-C1 as follows; class A-1,...
Mortgage Focus 2004
In the latest annual edition of Mortgage Focus, a benchmarking study, Fannie Mae found that wholesalers saw their average cost to originate per closed loan rise by 30 percent in 2003. Retail lenders, by contrast, saw their average cost per closed loan...
Mortgage Focus 2004: In the Latest Annual Edition of Mortgage Focus, a Benchmarking Study, Fannie Mae Found That Wholesalers Saw Their Average Cost to Originate per Closed Loan Rise by 30 Percent in 2003. Retail Lenders, by Contrast, Saw Their Average Cost per Closed Loan Drop by 13 Percent
IN 2003, MORTGAGE LENDERS DEALT WITH THE DUAL CHALlenges of staying ahead of record mortgage origination volumes while preparing for change in the market. The boom in originations continued unabated, but as the prospect of lower volumes became apparent,...
Occ Advises National Banks on Electronic Delivery of Consumer Disclosures
THE OFFICE OF THE COMPTROLLER OF THE Currency (OCC) published an advisory letter on Oct. i, 2004, emphasizing issues that national banks should consider when providing electronic consumer disclosures. OCC Advisory Letter 2004-11, "Electronic Consumer...
OCC Advises National Banks on Electronic Delivery of Consumer Disclosures
THE OFFICE OF THE COMPTROLLER OF THE Currency (OCC) published an advisory letter on Oct. 1, 2004, emphasizing issues that national banks should consider when providing electronic consumer disclosures. OCC Advisory Letter 2004-11, "Electronic Consumer...
Online Lending and the Changing Consumer
SINCE THE ADVENT OF THE NETSCAPE graphical browser in 1995, the Internet and online lending have made the mortgage loan origination process more transparent to the consumer. This newfound visibility gives consumers more transaction power by enabling...
Overtime Tune-Up
THE FEDERAL REGULATIONS DEFINING WHEN A WHITE-collar employee does not need to receive overtime pay have remained mostly unchanged for more than 50 years. Recognizing that many of the provisions of those regulations have become outmoded in the setting...
Overtime Tune-Up: The New Rules on Who Is Eligible for Overtime Kicked in on Aug. 23. Lenders Have a Keen Interest Because Some Class-Action Lawsuits Have Raised the Stakes on Making Sure Employers Are Complying Correctly with the Law
THE FEDERAL REGULATIONS DEFINING WHEN A WHITE-collar employee does not need to receive overtime pay have remained mostly unchanged for more than 50 years. Recognizing that many of the provisions of those regulations have become outmoded in the setting...
People
Julie L.Williams has been appointed acting comptroller of the Office of the Comptroller of the Currency (OCC) in Washington, D.C. David Buchanan has been named executive vice president for Fidelity Bank in Atlanta. Daniel B. Deaton has been promoted...
Secured Funding Integrates Vmp Fraud Solution
SECURED FUNDING CORPORATION, COSTA Mesa, California, has integrated fraud-management solutions from VMP Mortgage Solutions Inc., Fraser, Michigan, a division of Bankers Systems Inc., into secured Funding's loan origination process.VMP Mortgage Solutions'...
Secured Funding Integrates VMP Fraud Solution
SECURED FUNDING CORPORATION, COSTA Mesa, California, has integrated fraud-management solutions from VMP Mortgage Solutions Inc., Fraser, Michigan, a division of Bankers Systems Inc., into Secured Funding's loan origination process. VMP Mortgage...
S&p Article Addresses Indiana Antipredatory Lending Law
STANDARD & POOR'S RATINGS SERVICES (S&P), New York, announced it will not permit "high-cost home loans" governed by the Indiana Home Loan Practices Act into its rated structured finance transactions. This determination is based on S&P's conclusion...
S & P Article Addresses Indiana Antipredatory Lending Law
STANDARD & POOR'S RATINGS SERVICES (S & P), New York, announced it will not permit "high-cost home loans" governed by the Indiana Home Loan Practices Act into its rated structured finance transactions. This determination is based on S &...
SPOTLIGHT: LoanPerformance Gets a Fed Economist
SAN FRANCISCO-BASED LOANPERFORMANCE INC.,A DATA, research and analytics company, has landed an influential senior economist from the Fed. Paul S. Calem, who received his Ph.D. in economics from Brown University, left the Federal Reserve Board in September,...
STRATEGIES for a Rising Rate Market
Sales automation solutions for brokers are a key element in a successful wholesale lending strategy, especially in a hostile rate environment. Here's what some savvy wholesalers are already doing.THE PREVAILING WISDOM IS THAT POST-ELECTION rates will...
Strategies for a Rising Rate Market: Sales Automation Solutions for Brokers Are a Key Element in a Successful Wholesale Lending Strategy, Especially in a Hostile Rate Environment. Here's What Some Savvy Wholesalers Are Already Doing
THE PREVAILING WISDOM IS THAT POST-ELECTION rates will trend higher. Mortgage bankers are looking at the impact this will have on their margins and market share. Executing proactive strategies that mitigate against major declines in margin or share...
Survey Courses
I RECENTLY OBSERVED A MANAGEMENT training course. The company had invested considerable money in obtaining the course, and considerable effort in marketing it internally. The course covered three topics: management styles (including the creation...
Survey Courses
IRECENTLY OBSERVED A MANAGEMENT training course. The company had invested considerable money in obtaining the course, and considerable effort in marketing it internally.The course covered three topics: management styles (including the creation of individual...
The New RBC Mortgage
After ditching a net branch model, RBC Mortgage is now ready to grow its wholesale channel and continue expanding affiliated business arrangements. The company sees its new origination system as a plus in its growth plans.IN AN ERA OF CENTRALIZATION...
The New RBC Mortgage: After Ditching a Net Branch Model, RBC Mortgage Is Now Ready to Grow Its Wholesale Channel and Continue Expanding Affiliated Business Arrangements. the Company Sees Its New Origination System as a Plus in Its Growth Plans
IN AN ERA OF CENTRALIZATION AND VOLUME-DRIVEN BUSINESSES, EXECUTIVES at RBC Mortgage Co., Chicago, see decentralization and a focus on margin as the keys to their company's growth plans. * The company recently dropped its net branching strategy, a...
The Sky's the Limit
THE WHOLESALE AND CORRESPONDENT CHANNELS ARE ALIVE WITH NEW AND OLD companies that are seizing the opportunity, right now, to grow their businesses. Even though production volume is down for many companies, a select few see this as the perfect time...
Transunion's Settlement Solutions
The bundled services concept for mortgage settlements is an idea TransUnion's Settlement Solutions Inc. has been working on for some time. And it's a concept that works.WHAT'S A CREDIT REPORTING COMPANY doing in the mortgage settlement business? Talk...
TransUnion's Settlement Solutions: The Bundled Services Concept for Mortgage Settlements Is an Idea TransUnion's Settlement Solutions Inc. Has Been Working on for Some Time. and It's a Concept That Works
WHAT'S A CREDIT REPORTING COMPANY doing in the mortgage settlement business? Talk to the folks at TransUnion LLC, Chicago, and they'll tell you about the natural synergies between the credit reporting and the loan settlement businesses. About 10...
What I Want for Christmas
MOST OF MY FRIENDS ARE DREAMING about getting a new car or a dream vacation for Christmas--but not me. Instead, I dream about the presents that the government-sponsored enterprises (GSEs) could bring to mortgage technologists like me. My peers and...