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. 64, No. 6, March

2004 Mortgage It All-Stars
These 11 technology leaders have helped the mortgage industry adopt and integrate technology. They stand out from the pack as this year's class of mortgage IT all-stars.ALLL OF THIS YLAR7S MORTGAGL INFORMATION TLCHNOLOGY (IT) ALL-STARS HAVL ONE THING...
2004 Mortgage It All-Stars: These II Technology Leaders Have Helped the Mortgage Industry Adopt and Integrate Technology. They Stand out from the Pack as This Year's Class of Mortgage IT All-Stars
ALL OF THIS YEAR'S MORTGAGE INFORMATION TECHNOLOGY (IT) ALL-STARS HAVE ONE THING IN COMMON: They stay in the mortgage industry because of the challenge of trying to make the mortgage process better and the excitement that comes from technological change....
A Budding Recovery for Multifamily
Apartments will start to rebound in 2004, but 20?5 is likely to be the year they come into full bloom. We profile three markets to get a better reading on market conditions.THE NATION'S MULTIFAMILY MARKET IS POISED FOR RECOVERY following several quarters...
A Budding Recovery for Multifamily: Apartments Will Start to Rebound in 2004, but 2005 Is Likely to Be the Year They Come into Full Bloom. We Profile Three Markets to Get a Better Reading on Market Conditions
THE NATION'S MULTIFAMILY MARKET IS POISED FOR RECOVERY following several quarters of rising vacancy rates and negative rent growth, according to industry sources. And while no one is predicting an abrupt turnaround, economic indicators in place point...
A Free Guide to the Future
THE INTERNET PHENOMENON IS A TESTIMONY TO IMPATIENCE AND HIGH LABOR COSTS. * Impatience, because as consumers we want to model different travel routes and airfares and carriers without suffering the ire of a testy travel agent. We want to look at mortgage...
A Free Guide to the Future: Here's a Look at How the Web, Call Centers, Good Service and Integrated Rich Content Will Help Lenders Beat Their Customer Attrition Woes
THE INTERNET PHENOMENON IS A TESTIMONY TO IMPATIENCE AND HIGH LABOR COSTS. * Impatience, because as consumers we want to model different travel routes and airfares and carriers without suffering the ire of a testy travel agent. We want to look at mortgage...
An Address Book
THERE ARE WEB SITES TODAY FOR EVERY CONCEIVABLE TYPE OF COMPANY. ORIGINATORS have their own, servicers collect payments over them and associations do all kinds of things on theirs. So we thought having one sourcebook with everyone's URL inside would...
Card Games
CONSUMER DEBT LEVELS "ARE QUITE incredible," says Neill Fendly, a former president of the National Association of Mortgage Brokers (NAMB), who now is president of Mort gage Defense Inc., a consulting firm in Scottsdale, Arizona. Fendly finds that households...
Commercial/multifamily Originations Set Record in 2003
ACCORDING TO THE MORTGAGE BANKERS Association's (MBA's) quarterly survey, commercial and multifamily loan originations set a record during 2003. The $116 billion in loan originations reported for 2003 was up by more than one-third from the $86.4 billion...
Commercial/multifamily Originations Set Record in 2003
ACCORDING TO THE MORTGAGE BANKERS Association's (MBA's) quarterly survey, commercial and multifamily loan originations set a record during 2003. The $116 billion in loan originations reported for 2003 was up by more than one-third from the $86.4 billion...
Data Management's Day Is Here
Here are some different perspectives on how data management can produce significant benefits in the mortgage business.DAVID WILLIAMSON, VICE PRESIDENT, THE PERFORMANCE Group, believes the time has come for the mortgage industry to capitalize on the powerful...
Data Management's Day Is Here: Here Are Some Different Perspectives on How Data Management Can Produce Significant Benefits in the Mortgage Business
DAVID WILLIAMSON, VICE PRESIDENT, THE PERFORMANCE Group, believes the time has come for the mortgage industry to capitalize on the powerful data it collects on its customers. He is not alone. Technology vendors, lenders and industry consultants alike...
Evaluating a Training Session
A TRAINING SESSION MAY BE A STAND-alone event, or it may be bundled with a group meeting or a conference. It may be conducted by a professional trainer, a manager or a subject-matter expect. It may be as short as an hour or as a long as a month. It...
Fannie Mae and Lender Partners Deliver MH Financing
FANNIE MAE HAS JOINED WITH NINE lenders to work toward transforming the manufactured-housing market, including providing purchasers of manufactured homes nationwide access to affordable 30-year mortgage financing with down payments as low as 5 percent....
Fannie Mae Unveils Initiative to Raise Minority Homeownership Rate
FANNIE MAE HAS ANNOUNCED A PLEDGE to help 6 million families--including 1.8 million minority families--become first-time homeowners over the next decade. The pledge boosts the company's commitment to President Bush's Minority Homeownership Initiative...
First-Class Technology
THE TALK IN MORTGAGE TECHNOLOGY HAS MOVED WELL BEYOND DISCUSSIONS OF narrow, disjointed applications. Today's executives are seriously discussing things like an industry-supported technology utility that could service the free flow of transactions...
Florida's Real Estate Market Performs Well
ACCORDING TO RESEARCH BY THE REAL-point Division of GMAC Institutional Advisors LLC, Horsham, Pennsylvania, overall Florida has held up well during the country's recent economic recession, and now, its impending recovery. Some of Florida's major...
Florida's Real Estate Market Performs Well
ACCORDING TO RESEARCH BY THE REAL-point Division of GMAC Institutional Advisors LLC, Horsham, Pennsylvania, overall Florida has held up well during the country's recent economic recession, and now, its impending recovery.Some of Florida's major metropolitan...
Freddie Mac Issues 2004 Economic Outlook
ACCORDING TO FREDDIE MAC, BETWEEN consumer confidence, strong business indicators and low inflation, economic growth in 2004 will be strong. Fred die Mac also foresees the return of jobs, but is less optimistic about the timing of their return. ...
FROM Fragmented Technology TO Enterprise Integration
The mortgage industry, for a long time, has been struggling with a patchwork of different systems that can't communicate. Now the time has come for a different solution.IN THE FINANCIAL SERVICES INDUSTRY, LEGACY SYSTEMS BUILT 20 or 30 years ago (or before)...
From Fragmented Technology to Enterprise Integration: The Mortgage Industry, for a Long Time, Has Been Struggling with a Patchwork of Different Systems That Can't Communicate. Now the Time Has Come for a Different Solution
IN THE FINANCIAL SERVICES INDUSTRY, LEGACY SYSTEMS BUILT 20 or 30 years ago (or before) have continued to perform an integral role in the technology infrastructure of many institutions. Large mainframe-based banking systems that were developed in languages...
Getting Technology Right
RICHARD JONES, SENIOR MANAGING DIRECTOR and chief information officer for Countrywide Financial Corporation, Calabasas, California, told an audience at Thomson Media Inc.'s 5th Annual Mortgage EC (electronic commerce) Conference in Las Vegas that today's...
How Lenders See It
TODAY'S MORTGAGE LENDERS HAVE THEIR own thoughts on how data management can improve their operations. Three lenders offered their views on the trend.Chip Register, chief information officer, RBMG Inc., Columbia, South Carolina, had this to say about...
List of Exhibitors
As of Feb. 5, 2004 3t Systems Inc. www.3tsystems.com Booths: 315, 317 a la mode inc. www.alamode.com Booths: 224, 226 ACEX www.acex.info Booth: 625 ADVECTIS Inc. www.advectis.com Booth: 116 AIIRegs www.allregs.com...
MBA Releases Annual Multifamily and Commercial Servicer Rankings
THE MORTGAGE BANKERS ASSOCIATION released its annual rankings of multifamily and commercial loan servicers as of the end of 2003. Out of 103 firms, GMAC Commercial Holding Corporation topped the list with $213.7 billion in master and primary servicing....
MBA Releases Annual Multifamily and Commercial Servicer Rankings
THE MORTGAGE BANKERS ASSOCIATION released its annual rankings of multifamiIy and commercial loan servicers as of the end of 2003.Out of 103 firms, GMAC Commercial Holding Corporation topped the list with $213.7 billion in master and primary servicing....
MBA Releases Long-Term Forecast for Economy and Housing Finance Market
THE MORTGAGE BANKERS ASSOCIATION (MBA) released its long-term economic forecast for 2004, 2005 and 2006, which projects strong economic growth through 2006 with gross domestic product (GDP) growth rates exceeding 4 percent each year. "The year 2004...
MBA's Technology Goals
Reporting to the Mortgage Bankers Association's (MBA's) board of directors is a high-level committee dealing with important technology issues. Regina M. Lowrie, the current committee chair and president and CEO of Gateway Funding Diversified Mortgage...
MBA's TECHNOLOGY GOALS
Reporting to the Mortgage Bankers Association's (MBA's) board of directors is a high-level committee dealing with important technology issues.Regina M. Lowrie, the current committee chair and president and CEO of Gateway Funding Diversified Mortgage...
MISMO Matters
The industry's technology standards-setting organization - MISMO (Mortgage Industry Standards Maintenance Organization)-made strong progress on several fronts in 2003.SINCE THE CREATION OF THE MORTGAGE INDUSTRY STANDARDS MAINTENANCE ORGANIZATION (MISMO)...
MISMO Matters: The Industry's Technology Standards-Setting Organization-MISMO (Mortgage Industry Standards Maintenance Organization)-Made Strong Progress on Several Fronts in 2003
SINCE THE CREATION OF THE MORTGAGE INDUSTRY STANDARDS MAINTENANCE ORGANIZATION (MISMO) in 1999, MISMO has steadily worked to establish its presence in the mortgage technology industry. Significant achievements were logged in 2003, and MISMO is looking...
Movin' to Minneapolis?
DEXMA INC., EDINA, MINNESOTA, A RAPIDLY GROWING MORTGAGE technology company, recently beefed up its bench of executive talent with the addition of industry veteran Tim Anderson, A 25-year mortgage banking industry player, Anderson joined Dexma in January...
Nmhc Analysis on Competition from Housing Sector
THE NATIONAL MULTI HOUSING COUNCIL (NMHC) issued a statement refuting analyst claims that new federal and private-sector homeownership initiatives will automatically translate into meaningful losses for the apartment sector.Mark Obrinsky, NMHC's chief...
NMHC Analysis on Competition from Housing Sector
THE NATIONAL MULTI HOUSING COUNCIL (NMHC) issued a statement refuting analyst claims that new federal and private-sector homeownership initiatives will automatically translate into meaningful losses for the apartment sector. Mark Obrinsky, NMHC's...
Palisades Financial Completes $220 Million in Transactions in 2003
PALISADES FINANCIAL LLC, ENGLEWOOD Cliffs, New Jersey, closed $220 million in debt, subordinate debt, nonperforming loan purchases and equity transactions through its Palisades Regional Investment Fund LLC (PRIF) during 2003. Palisades and its partners...
Palisades Financial Completes $220 Million in Transactions in 2003
PALISADES FINANCIAL LLC, ENGLEWOOD Cliffs, New Jersey, closed $220 million in debt, subordinate debt, nonperforming loan purchases and equity transactions through its Palisades Regional Investment Fund LLC (PRIF) during 2003.Palisades and its partners...
Pennsylvania's New Mortgage Satisfaction Law
SINCE 1715, PENNSYLVANIA HAS required that any lender who receives full payment of all sums due on the mortgage must mark the judgment satisfied upon the borrower's request. Prior to Feb. 8, 2003, the law simply provided that, once a borrower who paid...
Political Considerations
There are eight top-priority items on the legislative agenda for the Mortgage Bankers Association in 2004. But an election-year calendar leaves lawmakers only about 72 days in session to tackle them."[THE HOUSING SITUATION] IS JUST about our No. 1 domestic...
Political Considerations: There Are Eight Top-Priority Items on the Legislative Agenda for the Mortgage Bankers Association in 2004. but an Election-Year Calendar Leaves Lawmakers Only about 72 Days in Session to Tackle Them
"[THE HOUSING SITUATION] IS JUST about our No. 1 domestic problem, and has all the explosive possibilities any home-front question could have."--Mortgage Banker* magazine, January 1946. * "Since the President used the housing problem as one of his...
Q10 Capital Launches
Q10 CAPITAL LLC, SALT LAKE CITY, A national mortgage banking firm owned and operated by independent member companies, was launched in February. The firm is owned by a roster of member companies including Bonneville Mortgage Co.; Daisley Ruff Financial...
Q10 Capital Launches
Q10 CAPITAL LLC, SALT LAKE CITY, A national mortgage banking firm owned and operated by independent member companies, was launched in February.The firm is owned by a roster of member companies including Bonneville Mortgage Co.; Daisley Ruff Financial...
Schedule of Events
MBA NATIONAL TECHNOLOGY IN MORTGAGE BANKING CONFERENCE & EXPO March 14-17, 2004 Hyatt Regency Phoenix Phoenix, Arizona SUNDAY, MARCH 14 9:00 a.m.-7:00 p.m. Convention Registration Open Lobby Two 4:30 p.m.-5:30 p.m. Technology...
Stating the Obvious about Reduced-Doc Risk
TEN YEARS AGO, WHEN THE 1992-1993 refinancing boom came crashing to an end, many lenders, in an attempt to stay alive, focused on higher-risk loans to borrowers with marginal credit and large debt loads to fill the void. Today, as we leave behind a...
Successful ONLINE Companies
THE juRY IS IN ON WHAT MAKES A WEB SITE SUCCESSFUL, AND IT MAY NOT BE WHAT YOU THINK. We interviewed five successful mortgage companies (both brokers and bankers) that have demonstrated great success online over the last five years. The basic selection...
Successful Online Companies: Hear What Five Successful Online Lenders Say about What's Key to Doing Business on the Web
THE JURY IS IN ON WHAT MAKES A WEB SITE SUCCESSFUL, AND IT MAY NOT BE WHAT YOU THINK. We interviewed five successful mortgage companies (both brokers and bankers) that have demonstrated great success online over the last five years. The basic selection...
Survey Shows Continued Improvement in Apartment Sector
ACCORDING TO THE WASHINGTON, D.C.--BASED National Multi Housing Council's (NMHC's) January 2004 quarterly Survey of Apartment Market Conditions, conditions in the apartment market are improving after several quarters of increasing vacancy rates. ...
Survey Shows Continued Improvement in Apartment Sector
ACCORDING TO THE WASHINGTON, D.C.-BASED National Multi Housing Council's (NMHC's) January 2004 quarterly Survey of Apartment Market Conditions, conditions in the apartment market are improving after several quarters of increasing vacancy rates.For the...
Taming the PAPER TIGER
The technology is here to banish paper from the archaic mortgage approval process. The future lies in a paperless collaborative platform model of doing business.IF MORTGAGE LENDERS ARE TO SUBSTANTIALLY REDUCE THEIR UNIT COST OF production, they will...
Taming the Paper Tiger: The Technology Is Here to Banish Paper from the Archaic Mortgage Approval Process. the Future Lies in a Paperless Collaborative Platform Model of Doing Business
PAPER. IF MORTGAGE LENDERS ARE TO SUBSTANTIALLY REDUCE THEIR UNIT COST OF production, they will have to cut back on the amount of it in the lending process. * The industry generates more than 6 billion new pages of paper each year. The creation, copying...
Technology Hyperbole
ITRY MY BEST TO TRACK ALL OF THE technology developments in our industry, and part of this is reading white papers and press releases put out by many of the technology firms. Some of the material I read just amazes me with its hyperbole. I should mention...
The Nightmare of Compliance
How did mortgage industry compliance become such a nightmare? How can it be tamed? Active political involvement is one answer.YOUR MISSION, SHOULD YOU CHOOSE to accept it, is to identify all federal, state and local laws and rules pertaining to mortgage...
The Nightmare of Compliance: How Did Mortgage Industry Compliance Become Such a Nightmare? How Can It Be Tamed? Active Political Involvement Is One Answer
YOUR MISSION, SHOULD YOU CHOOSE to accept it, is to identify all federal, state and local laws and rules pertaining to mortgage lending and achieve 100 percent compliance in each and every jurisdiction for every loan type, lender type and license....
Trading on Its Name
E*TRADE FINANCIAL is positioned nicely to grow its revenue from both a pickup in the stock market and steps to more deeply penetrate the home-purchase lending market. Smart moves and good timing are key traits for this dot-com survivor. BY STEVE BERGSMANE*TRADE...
Trading on Its Name: E*TRADE FINANCIAL Is Positioned Nicely to Grow Its Revenue from Both a Pickup in the Stock Market and Steps to More Deeply Penetrate the Home-Purchase Lending Market. Smart Moves and Good Timing Are Key Traits for This Dot-Com Survivor
E*TRADE FINANCIAL CORPORATION, NEW YORK, COULD ALWAYS BOAST ONE INTANGIBLE that other Web-based companies never had: good timing. It is one reason why it's still around and growing while other Internet firms long ago collapsed after the technology...
U.S. Cmbs Rating Activity Hits Record in 4q 2003
ACCORDING TO NEW YORK-BASED STANDARD & Poor's (S&P's) Ratings Services' Structured Finance Global Ratings Roundup Quarterly report, a record number of upgrades, downgrades and total rating actions for U.S. commercial mortgage-backed securities...
U.S. CMBS Rating Activity Hits Record in 4Q 2003
ACCORDING TO NEW YORK--BASED STANDARD & Poor's (S & P's) Ratings Services' Structured Finance Global Ratings Roundup Quarterly report, a record number of upgrades, downgrades and total rating actions for U.S. commercial mortgage-backed securities...
Using Electronic Communications to the Fullest
DID YOU KNOW THAT EVERY YEAR, mortgage servicers throw away hundreds of millions of dollars? How can that be possible, when servicers have CPAs analyzing every penny the company spends? It's because the industry has not effectively taken complete advantage...
What Was Learned from eLENDING FAILURES?
Early on, many feared startup online lenders would own the mortgage business in short order. That didn't happen. Here's why.IN 1999 I WAS DOING A LOT OF SPEAKING ABOUT ?-LENDING AT INDUSTRY TRADE SHOWS. At each conference, I would ask the audience an...
What Was Learned from eLending Failures? Early on, Many Feared Startup Online Lenders Would Own the Mortgage Business in Short Order. That Didn't Happen. Here's Why
IN 1999 I WAS DOING A LOT OF SPEAKING ABOUT E-LENDING AT INDUSTRY TRADE SHOWS. At each conference, I would ask the audience an interesting question: What percentage of all originations will national eLenders like E-LOAN Inc., Pleasanton, California,...