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. 8, May

A Bigger Catch
AS LAST YEAR'S REFINANCE MARKET BECOMES A DISTANT MEMORY, A BIG CHUNK OF origination volume has disappeared. What can mortgage lenders do to fill the gap? Maybe the better question is, what old mistakes should they avoid? Some lenders were very...
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A Dogged Pursuit
Two longtime advocates for shoring up the foundation on which Fannie Mae and Freddie Mac were built have had a pretty lonely quest. Now they find their views have become mainstream.IF YOU MET THEM IN SOME NEUTRAL PLACE, like a vacation spot, and you...
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A Dogged Pursuit: Two Longtime Advocates for Shoring Up the Foundation on Which Fannie Mae and Freddie Mac Were Built Have Had a Pretty Lonely Quest. Now They Find Their Views Have Become Mainstream
IF YOU MET THEM IN SOME NEUTRAL PLACE, like a vacation spot, and you rarely read the business pages, you would never think Richard Baker and Armando Falcon had anything in common. Nowadays, though, if they did find themselves on, say, Paradise Island...
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Alarm over Interest-Only ARMs: Much Ado about Nothing
"Done to death by slanderous tongue Was the Hero that here lies" --WILLIAM SHAKESPEARE, Much Ado About Nothing THE "SLANDEROUS TONGUE" IN THIS case is being aimed at interest-only (IO) adjustable-rate mortgages (ARMs). Here is why the concern over...
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DEEDS of TRUST
IF CAPITALISM TRULY ENCOURAGES FREE markets, open competition and the pursuit of profit, then why has the industry found itself tangled in an ever-widening web of government regulation? Did a few industry participants, in the immortal words of Wall Street...
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Deeds of Trust: Treating All Your Customers like Royalty-All of the Time-Could Be a Powerful Business Strategy. A Narrow Focus on Compliance Misses the Point. Building a Business around Putting Borrowers First Makes a Lot More Sense
IF CAPITALISM TRULY ENCOURAGES FREE markets, open competition and the pursuit of profit, then why has the industry found itself tangled in an ever-widening web of government regulation? Did a few industry participants, in the immortal words of Wall...
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Few Surprises in NMHC's Top-50 Apartment Rankings
DESPITE RECORD LEVELS OF PROPERTY SALES, there was little turnover in the ranking of the nation's top-50 apartment owners and managers, according to the National Multi Housing Council (NMHC), Washington, D.C. There were just four new apartment firms...
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First Magnus' Organic Growth
This Tucson-based mortgage lender combines home-grown Web-based technology, global outsourcing and organic growth to help power its impressive expansion. Worstcase scenario this year, executives say, will still bring a 10 percent boost in originations.FOUNDED...
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First Magnus' Organic Growth: This Tucson-Based Mortgage Lender Combines Home-Grown Web-Based Technology, Global Outsourcing and Organic Growth to Help Power Its Impressive Expansion. Worst-Case Scenario This Year, Executives Say, Will Still Bring a 10 Percent Boost in Originations
FOUNDED IN 1996 BY BOARD CHAIRMAN THOMAS Sullivan Sr., Vice Chairman Thomas Sullivan Jr. and President and Chief Executive Officer G.S. Jaggi, First Magnus Financial Corporation has established itself as one of the nation's innovative and fastest-growing...
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Fitch Says Expect Slower Housing Demand in 2005
EXPECT NEITHER A MEANINGFUL DETERIORAtion nor a significant acceleration in housing demand for home builders during the next year, according to U.S. Homebuilding/Construction: The Chalk Line-Quarterly Update: Spring 2005, an analysis by Fitch Ratings,...
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Freddie Mac's Top Forecaster
CHANCES ARE THAT EVEN IF YOU don't know who Frank E. Nothaft is, you know of his work. As chief economist for Freddie Mac, Nothaft directs the mortgage giant's Primary Mortgage Market Survey, a closely watched and widely reported weekly indicator of...
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Greenspan Tells Senate to Limit Size of GSE Balance Sheets
CONGRESS NEEDS TO ACT SOONER RATHER than later to limit the "systemic risk" to the nation's financial markets by strictly curtailing the ability of Fannie Mae and Freddie Mac to build multibillion-dollar portfolios, cautions Federal Reserve Chairman...
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GSE Reform, TRIA Headline Issues at MBA Policy Conference
BY THIS TIME NEXT YEAR, EXPECT A NEW, stronger GSE regulator to be in place, predicted Treasury Secretary John Snow on April 19. Snow was one of a veritable galaxy of stars from both the administration and Congress to address MBA's annual National...
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High-Impact Marketing
Launching effective marketing campaigns doesn't have to be a long-shot. Here are ways to make it more of a safe bet than you might think.WHEN A 6'10'' BASKETBALL PLAYER DEFTLY MANEUVERS DOWN THE COURT and soars into the air, reaching for the basket,...
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High-Impact Marketing: Launching Effective Marketing Campaigns Doesn't Have to Be a Long-Shot. Here Are Ways to Make It More of a Safe Bet Than You Might Think
WHEN A 6'10" BASKETBALL PLAYER DEFTLY MANEUVERS DOWN THE COURT and soars into the air, reaching for the basket, for sports fans it can be attention-getting, exciting, even creative. But it's only effective if the player dunks the ball. The bottom line...
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History Repeating Itself
RECENTLY A MAJOR, FULL-SERVICE mortgage company announced that it was shedding just short of half its employees. This is a company whose production for the past three years was past the magical $10 billion mark. And when its president remarked in...
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House Hears Testimony from Snow, Jackson on GSE Regulator
MEANINGFUL REFORM OF FANNIE MAE AND Freddie Mac must include a strong regulator to serve as an active watchdog over the two GSEs. That was the view expressed by Treasury Secretary John Snow in testimony before members of the House Financial Services...
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HUD Secretary Won't Be Rushed on RESPA
DURING A GENERAL SESSION OF MBA's National Policy Conference, there was an unusual amount of straight talk on budget deficits, GSEs, predatory lending, terrorism insurance renewal and the current state of political incivility. But what there wasn't...
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Michael Roster Joins SF FHLB Board
ON APRIL 5, 2005, THE FEDERAL HOME LOAN BANK (FHLB) OF San Francisco's board of directors picked Michael Roster to serve as an elected director representing the state of California. Roster, executive vice president and general counsel of Golden West...
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On Time AND on Budget-Fact or Fantasy?
Getting control of technology implementation doesn't have to be the stuff of fiction.IT'S A COMMON NIGHTMARE IN THE MORTGAGE INDUSTRY: Implementation of a new loan origination system (LOS) has ground to a halt. The technology group blames the business...
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On Time and on Budget-Fact or Fantasy? Getting Control of Technology Implementation Doesn't Have to Be the Stuff of Fiction
IT'S A COMMON NIGHTMARE IN THE MORTGAGE INDUSTRY: Implementation of a new loan origination system (LOS) has ground to a halt. The technology group blames the business side for filling its initial scope document with buzzwords that, in light of the...
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People
RANDALL L. RAUP HAS BEEN APPOINTED PRESident of HSBC Mortgage Corporation and executive vice president of HSBC Bank USA in Prospect Heights, Illinois. Scott Hown has been named executive vice president, Fidelity National Real Estate Solutions Group manager,...
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PNC's NEW LOOK
Pittsburgh-based PNC Financial Services Group has fused its commercial real estate lending divisions and a tech-savvy servicing operation into a single new entity. The result is a fuller product line and better cross-sell options.LAST YEAR WHEN PNC FINANCIAL...
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PNC's New Look: Pittsburgh-Based PNC Financial Services Group Has Fused Its Commercial Real Estate Lending Divisions and a Tech-Savvy Servicing Operation into a Single New Entity. the Result Is a Fuller Product Line and Better Cross-Sell Options
LAST YEAR WHEN PNC FINANCIAL SERVICES Group Inc., Pittsburgh, decided to realign its real estate finance operation, the big banking and investment company didn't have to look very hard to find a person to lead the strengthened unit. The talent was...
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Real Estate Is a Girl's Best Friend
IT'S NOT NEWS THAT BABY BOOMERS eagerly are buying first and second homes today. Yet some probably can remember how their mothers were denied mortgages if they applied on their own. Single women were considered poor credit risks prior to passage of...
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Record Levels of Capital Flowed to Commercial/multifamily Sector in 2004
ACCORDING TO A MORTGAGE BANKERS ASSOCIAtion (MBA) analysis of Federal Reserve Board Flow of Funds data, record levels of capital flowed to the commercial/multifamily mortgage markets in 2004. At the end of 2004, $2.29 trillion in commercial/multifamily...
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Record Levels of Capital Flowed to Commercial/multifamily Sector in 2004
ACCORDING TO A MORTGAGE BANKERS ASSOCIAtion (MBA) analysis of Federal Reserve Board Flow of Funds data, record levels of capital flowed to the commercial/multifamily mortgage markets in 2004.At the end of 2004, $2.29 trillion in commercial/multifamily...
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Resetting the Origination Pace
AS THE MORTGAGE INDUSTRY RE-establishes itself after a refinance boom, originators should focus on the art of partnering in order to survive and build market share. During this year's 1st Metropolitan Mortgage annual conference, motivational speaker...
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Resilient Apartment Market Forecast for California in 2005
ACCORDING TO THE LOS ANGELES-BASED University of Southern California Lusk Center for Real Estate's Casden Real Estate Economics Forecast, average asking rents and occupancy rates in Southern California's multifamily markets will continue to improve...
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Resilient Apartment Market Forecast for California in 2005
ACCORDING TO THE LOS ANGELES-BASED University of Southern California Lusk Center for Real Estate's Casden Real Estate Economics Forecast, average asking rents and occupancy rates in Southern California's multifamily markets will continue to improve at...
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SEEKING A Safe Haven
If you are thinking about setting up a controlled business arrangement (CBA), you need to examine the rules very carefully first. The Real Estate Settlement Procedures Act (RESPA) is very specific about what it takes to set up a legitimate CBA, and now...
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Seeking a Safe Haven: If You Are Thinking about Setting Up a Controlled Business Arrangement (CBA), You Need to Examine the Rules Very Carefully First. the Real Estate Settlement Procedures Act (RESPA) Is Very Specific about What It Takes to Set Up a Legitimate CBA, and Now the California Insurance Commissioner Is Also Weighing in on the Subject
ARE CONTROLLED BUSINESS ARRANGEMENTS (CBAs) COVERED BY a reliable safe haven under the Real Estate Settlement Procedures Act (RESPA)? Given the recent hearings by the California Insurance Commissioner (CIC), the answer appears to be "maybe not." [??]...
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Selling a Company-Part 2
LAST MONTH'S COLUMN ENDED OUR discussion about the steps involved in selling a company at the point of completing the brochure describing the business. This brochure is the marketing document that your adviser will use to solicit the interest of potential...
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Senate Committee Hears Industry Views on GSE 'Bright Line'
A BRIGHT LINE HAS BEEN DRAWN BETWEEN supporters of efforts to reform secondary market giants Fannie Mae and Freddie Mac, as industry groups testifying before the Senate Banking Committee came out for and against Congress drawing a line between the...
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SEVEN Fatal Practices in Production
Plans to get a bigger piece of the pie ride on the success of your origination staff. Yet some very common misconceptions handicap chances for getting the most out of your producers.TODAY, SALES MANAGERS FALL INTO TWO CAMPS WHEN it comes to managing...
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Seven Fatal Practices in Production: Plans to Get a Bigger Piece of the Pie Ride on the Success of Your Origination Staff. Yet Some Very Common Misconceptions Handicap Chances for Getting the Most out of Your Producers
TODAY, SALES MANAGERS FALL INTO TWO CAMPS WHEN it comes to managing current mortgage market conditions: tweakers or radicals. The tweakers think a refinance market is always just around the corner and incremental change is all that's needed. The radicals...
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Sweetening THE DEAL
WITH SO MANY LENDERS COMPETING FOR ORIGINAtion business, the ability to distinguish your product offering from that of the rest becomes very difficult. Persuading originators to bring their loans to you in today's market takes a unique approach.One can...
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Sweetening the Deal: Incentive Marketing Programs Are Going Upscale, with Big Prizes Offered to Participants. Commercial and Residential Lenders Are Getting into the Act with Prized Autographed Baseballs, Ownership Stakes in Private Yachts and Tickets to Wimbledon
WITH SO MANY LENDERS COMPETING FOR ORIGINAtion business, the ability to distinguish your product offering from that of the rest becomes very difficult. Persuading originators to bring their loans to you in today's market takes a unique approach. ...
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Technology and Other Stuff
FUTURE LOAN ORIGINATION SYSTEMS (LOSes) will have to be "extensible and open-architected," said John Woody, vice president-product management, Mortgage Cadence, Denver. "We will have to look at technology through the business lens," he added. A panelist...
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The Hidden Value and Complexities of Outsourcing
CONTRARY TO SOME PERCEPTIONS, outsourcing is not all about cost savings--neither is it as simple as transferring a process to a vendor and forgetting about it. The mortgage banking industry offers ever more extensive outsourcing opportunities. In...
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User-Friendly Sites
THE LAST FEW YEARS HAVE BEEN very fruitful for most mortgage lenders and brokers in the United States. Low interest rates have inspired historically high demand for mortgages and refinancing. Yet with rates starting to rise, combined with currently high...
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User-Friendly Sites: The Mortgage Business Has a Ways to Go before It Hits Pay Dirt with Online Lending. despite the Versatile Offerings of Some Top Lenders, Many Consumers Are Waiting for a Financial Incentive to Apply Online
THE LAST FEW YEARS HAVE BEEN very fruitful for most mortgage lenders and brokers in the United States. Low interest rates have inspired historically high demand for mortgages and refinancing. Yet with rates starting to rise, combined with currently...
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Wellfound Decade Launches Investorexpress
WELLFOUND DECADE CORPORATION, JACKsonville, Florida, has launched InvestorExpress(TM), a software solution that enables mortgage sellers to electronically deliver mortgage loan data to their investors. Calabasas, California-based Countrywide Home Loans...
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Wellfound Decade Launches InvestorExpress
WELLFOUND DECADE CORPORATION, JACKsonville, Florida, has launched InvestorExpress[TM], a software solution that enables mortgage sellers to electronically deliver mortgage loan data to their investors. Calabasas, California-based Countrywide Home Loans...
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