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. 67, No. 2, November

A Down-Under Mortgage Company
A mortgage branch of a big Aussie bank is exporting an intriguing new mortgage product to these shores. Starting out with wholesale and correspondent business, this lender is targeting quality borrowers in high-end markets. BY STEVE BERGSMANMary Lou...
A Down-Under Mortgage Company: A Mortgage Branch of a Big Aussie Bank Is Exporting an Intriguing New Mortgage Product to These Shores. Starting out with Wholesale and Correspondent Business, This Lender Is Targeting Quality Borrowers in High-End Markets
Mary Lou Wait, a loan specialist with Allied Mortgage Services Inc. in Saratoga Springs, New York, was attending an industry trade show in September 2005 when she began chatting with a group of people from Jacksonville, Florida-based Macquarie Mortgages...
Anglo Irish Acquires Class-A Boston Office Property
Anglo Irish Bank, Dublin, Ireland, announced its purchase of a premier office building located in the center of Boston's financial district at 265 Franklin Street from Boston-based Boston Properties and the Albany, New York-based New York Common Retirement...
Anglo Irish Acquires Class-A Boston Office Property
Anglo Irish Bank, Dublin, Ireland, announced its purchase of a premier office building located in the center of Boston's financial district at 265 Franklin Street from Boston-based Boston Properties and the Albany, New York-based New York Common Retirement...
Another Banner Year
Lenders from around the country are seeing strong commercial mortgage lending volume this year. Market conditions in the Northeast, Southeast and Southern California echo this upbeat trend.The nation's commercial lenders in 2006 are on track to beat...
Another Banner Year: Lenders from around the Country Are Seeing Strong Commercial Morfgage Lending Volume This Year. Market Conditions in the Northeast, Southeast and Southern California Echo This Upbeat Trend
The nation's commercial lenders in 2006 are on track to beat what was a banner year for loan volume in 2005. Signs also point to a continuation of healthy lending activity into 2007, buoyed by a massive infusion of new capital, strong real estate fundamentals,...
Can Strategic Planning Help Mortgage Bankers?
Let's face it: Many mortgage banking executives have a hard time finding a strategic planning process that satisfies their need for a comprehensive and dynamic plan that can help every level of the organization succeed. * It's just not that commonplace...
Can Strategic Planning Help Mortgage Bankers? Strategic Planning Has Not Been a Staple in the Mortgage Business. Maybe Now's the Time to Change That
Let's face it: Many mortgage banking executives have a hard time finding a strategic planning process that satisfies their need for a comprehensive and dynamic plan that can help every level of the organization succeed. [??] It's just not that commonplace...
Charlotte Metro Credit Union Upgrades to FICS Solutions
Financial Industry Computer Systems Inc. (FICS), Dallas, announced that Charlotte, North Carolina-based Charlotte Metro Credit Union has upgraded its mortgage loan origination and servicing infrastructure with the successful implementation of several...
Charlotte Metro Credit Union Upgrades to FICS Solutions
Financial Industry Computer Systems Inc. (FICS), Dallas, announced that Charlotte, North Carolina-based Charlotte Metro Credit Union has upgraded its mortgage loan origination and servicing infrastructure with the successful implementation of several...
Cohen Financial Secures $152 Million in Financing for 42 Properties
Chicago-based Cohen Financial announced it has secured $152 million in debt refinancing for 42 free-standing Walgreens drug store properties--part of the Deerfield, Illinois-based Walgreen Co. drugstore chain--located in major metropolitan areas across...
Cohen Financial Secures $152 Million in Financing for 42 Properties
Chicago-based Cohen Financial announced it has secured $152 million in debt refinancing for 42 free-standing Walgreens drug store properties-part of the Deerfield, Illinois-based Walgreen Co. drugstore chain-located in major metropolitan areas across...
ComplianceEase to Release TPO Manager
ComplianceEase[R], Burlingame, California, has announced the upcoming release of TPO Manager, the company's third-party originator (TPO) management solution. TPO Manager is designed to allow lenders to automate the approval, verification and monitoring...
ComplianceEase to Release TPO Manager
ComplianceEase®, Burlingame, California, has announced the upcoming release of TPO Manager, the company's third-party originator (TPO) management solution.TPO Manager is designed to allow lenders to automate the approval, verification and monitoring...
Countrywide Taps RealEC for Settlement Services
Santa Ana, California-based RealEC Technologies[R] Inc. has entered into an agreement with Calabasas, California-based Countrywide Home Loans Inc.--a division of Countrywide Financial Corporation (CFC)--to provide its settlement-services management...
Countrywide Taps RealEC for Settlement Services
Santa Ana, California-based RealEC Technologies® Inc. has entered into an agreement with Calabasas, California-based Countrywide Home Loans Inc.-a division of Countrywide Financial Corporation (CFC)-to provide its settlement-services management solution.Under...
Diversity Conference Highlights Critical Business Opportunities
The future of the mortgage industry will rely to a significant degree on the ability of mortgage lenders to serve those customers who have traditionally counted as underserved, according to a consensus of mortgage industry leaders. Speaking at the...
Diversity Conference Highlights Critical Business Opportunities
The future of the mortgage industry will rely to a significant degree on the ability of mortgage lenders to serve those customers who have traditionally counted as underserved, according to a consensus of mortgage industry leaders.Speaking at the Second...
Ellie Mae, Flagstar Integrate Encompass Doc-Transfer Platform
Dublin, California-based Ellie Mae[R] and Troy, Michigan-based Flagstar Bank have partnered to integrate Flagstar's Digital Document Transfer[TM] platform to Ellie Mae's Encompass[R] loan origination system. The integration allows brokers and correspondents...
Ellie Mae, Flagstar Integrate Encompass Doc-Transfer Platform
Dublin, California-based Ellie Mae® and Troy, Michigan-based Flagstar Bank have partnered to integrate Flagstar's Digital Document Transfer(TM) platform to Ellie Mae's Encompass® loan origination system.The integration allows brokers and correspondents...
Eye for Opportunity
It has been nearly six years since I collaborated with Dan Helle at Chicago-based CIVC Partners, a private-equity firm, on an article that addressed the role of private-equity investors in the mortgage banking industry (see "Smart Capital," Mortgage...
Fannie and Freddie Partner to Offer Mortgage Documents En Espanol
Fannie Mae and Freddie Mac announced the joint availability of 83 non-executable Spanish translations of the Fannie Mae/Freddie Mac uniform instruments to help lenders and others in the residential mortgage industry better serve Spanish-language-dominant...
Fannie and Freddie Partner to Offer Mortgage Documents En Español
Fannie Mae and Freddie Mac announced the joint availability of 83 non-executable Spanish translations of the Fannie Mae/Freddie Mac uniform instruments to help lenders and others in the residential mortgage industry better serve Spanish-language-dominant...
FHA Reform Needed Sooner Rather Than Later
Would-be Hispanic and low- to moderate-income homebuyers stand to lose if Congress fails this year to take up badly needed reforms to the Federal Housing Administration (FHA), according to the head of the National Association of Hispanic Real Estate...
FHA Reform Needed Sooner Rather Than Later
Would-be Hispanic and low- to moderate-income homebuyers stand to lose if Congress fails this year to take up badly needed reforms to the Federal Housing Administration (FHA), according to the head of the National Association of Hispanic Real Estate...
Freddie Mac Expands Home Possible to Military Personnel
Freddie Mac announced it is expanding its Home Possible[sm] affordable mortgage suite to boost the home-buying power of nearly 1.5 million U.S. military personnel. The Home Possible changes are expected to increase by as much as 30 percent the home-buying...
Freddie Mac Expands Home Possible to Military Personnel
Freddie Mac announced it is expanding its Home Possible^sup sm^ affordable mortgage suite to boost the home-buying power of nearly 1.5 million U.S. military personnel.The Home Possible changes are expected to increase by as much as 30 percent the home-buying...
Freddie Mac, Housing Market Face Period of Transition
Housing-market watchers should expect the recent choppiness in regional house-price trends to continue, with areas of the country divided into areas of soft and not-so-soft landings while other regions experience continued price appreciation, according...
Freddie Mac, Housing Market Face Period of Transition
Housing-market watchers should expect the recent choppiness in regional house-price trends to continue, with areas of the country divided into areas of soft and not-so-soft landings while other regions experience continued price appreciation, according...
GSEs Meet HUD's Housing Goals; Fannie Misses Subgoal
Fannie Mae and Freddie Mac both met their mandated housing goals in 2005, but performance results for the two government-sponsored enterprises' (GSEs') home-purchase subgoals were more of a mixed bag, according to the Department of Housing and Urban...
GSEs Meet HUD's Housing Goals; Fannie Misses Subgoal
Fannie Mae and Freddie Mac both met their mandated housing goals in 2005, but performance results for the two government-sponsored enterprises' (GSEs') home-purchase subgoals were more of a mixed bag, according to the Department of Housing and Urban...
Henry Cisneros, Former HUD Secretary
Even in an age where the term "expert" can be tossed around far too freely, Henry Cisneros could still reliably be called a "housing expert." He's got the resume to back it up. As secretary of the Department of Housing and Urban Development (HUD)...
Home Builders Say Housing Market to Slow, Not Stall
Although the landing won't be as soft as previously expected, the housing market's current downsizing will not drag the economy into recession, concluded experts during a late-September teleconference held by the National Association of Home Builders...
Home Builders Say Housing Market to Slow, Not Stall
Although the landing won't be as soft as previously expected, the housing market's current downsizing will not drag the economy into recession, concluded experts during a late-September teleconference held by the National Association of Home Builders...
Homecomings Financial Selects BlitzDocs Solution
Homecomings Financial, Minneapolis, has selected BlitzDocs[R], Alpharetta, Georgia, as its Web-based imaging solution, which is now supporting more than 60 percent of the wholesaler's loan applications. Homecomings Financial's imaging solution offers...
Homecomings Financial Selects BlitzDocs Solution
Homecomings Financial, Minneapolis, has selected BlitzDocs®, Alpharetta, Georgia, as its Web-based imaging solution, which is now supporting more than 60 percent of the wholesaler's loan applications.Homecomings Financial's imaging solution offers a...
Housing Activity: Residential Structures (Thousands of Units, SAAR)
BY TYPE OF UNIT HOUSING STARTS BUILDING PERMITS Single- Multi- Single- Multi- Total Family Family Total Family Family SEP-05 2,158 1,848 310 2,240 1,865 375 OCT-05...
Keeping Business Flowing
Mortgage bankers today are looking increasingly to wholesale and correspondent lending to boost origination volume in the softening market. Strong salespeople, in particular, are being recruited and hired by lenders to keep new business coming in the...
Key Economic Indicators and Interest Rates
CONSUMER PRICES YEAR-OVER-YEAR MBA CHANGE (%) MORTGAGE INTEREST CHANGE IN ALL ITEMS RATE (%) PAYROLL...
Lenders Bracing for Possible Economic Downturn in 2007
Lenders across the nation are beginning to brace for a possible economic downturn, as expectations for the economy's performance fell in the third quarter following two quarters of relative optimism, according to a survey of lenders by Phoenix Management...
Lenders Bracing for Possible Economic Downturn in 2007
Lenders across the nation are beginning to brace for a possible economic downturn, as expectations for the economy's performance fell in the third quarter following two quarters of relative optimism, according to a survey of lenders by Phoenix Management...
Looking for Mr. GoodPartner
"Friendly, available mortgage company seeks mutually satisfying relationship with willing and attractive partner." While there is good reason for mortgage companies to pursue long-term referral source relationships through affiliated business arrangements...
Maximizing Margins in a Slowing Market
Leading production executives from around the country share some best practices for increasing branch profitability, loan officer recruiting and retention.As mortgage revenues and profitability have dropped over the past year industry-wide, how are lenders...
Maximizing Margins in a Slowing Market: Leading Production Executives from around the Country Share Some Best Practices for Increasing Branch Profitability, Loan Officer Recruiting and Retention
As mortgage revenues and profitability have dropped over the past year industry-wide, how are lenders maximizing their margins to maintain financial strength and take care of shareholders? [??] Across the industry, the retail executives and managers...
MBA: Catastrophic Insurance Coverage Forever Changed by Katrina
Catastrophic insurance pricing for commercial real estate may never return to pre-Hurricane Katrina levels due to the increased loss expectations from hurricanes and rating agency scrutiny over an insurance company's overall exposure to catastrophic...
MBA: Catastrophic Insurance Coverage Forever Changed by Katrina
Catastrophic insurance pricing for commercial real estate may never return to pre-Hurricane Katrina levels due to the increased loss expectations from hurricanes and rating agency scrutiny over an insurance company's overall exposure to catastrophic...
Mortgage Applications Indexes: Mortgage Bankers Association (MBA)
MARKET COMPOSITES (Unadjusted) Market Purchase Refinance FRM ARM Index Index Index Index Index SEP-05 721.0 470.1 2,180.7 539.6 4,518.5 OCT-05 653.1 435.7 1,917.7 482.9...
Mortgage Focus 2006
Participants in Fannie Mae's latest annual benchmarking study saw the average cost to originate fall for all channels-except retail. The Internet/call-center channel posted the biggest drop in per-closed-loan origination costs.Mortgage banking is cyclical...
Mortgage Focus 2006: Participants in Fannie Mae's Latest Annual Benchmarking Study Saw the Average Cost to Originate Fall for All Channels-Except Retail. the Internet/call-Center Channel Posted the Biggest Drop in Per-Closed-Loan Origination Costs
Mortgage banking is cyclical and constantly buffeted by market, demographic and technological winds. Last year was no exception. Lenders that participated in Fannie Mae's seventh annual Mortgage Focus benchmarking study bid farewell to the days of...
New Mortgage Products Require Nimble Servicing Technology
I was explaining the benefits of an agile mortgage servicing system at a recent Mortgage Bankers Association (MBA) conference, and my listener asked me to tell him as succinctly as possible what makes our product stand out from the competition. Now,...
Northeast Residential Lenders-Top 25
First-Half 2006 / Sort Order: Total Loan Amount PURCHASE Total Number Share of Share Rank Lender $ Volume of Loans $ Volume of Loans 1 COUNTRYWIDE...
OFHEO: Congress Must Act to Pass GSE Reform
Congress must act to strengthen the structural integrity of Fannie Mae and Freddie Mac, as well as that of their regulator, in order to curb systemic risk and reduce system-wide uncertainty, declared James Lockhart, director of the Office of Federal...
OFHEO: Congress Must Act to Pass GSE Reform
Congress must act to strengthen the structural integrity of Fannie Mae and Freddie Mac, as well as that of their regulator, in order to curb systemic risk and reduce system-wide uncertainty, declared James Lockhart, director of the Office of Federal...
People
Teresa Bryce has been appointed executive vice president, general counsel and secretary for Radian Group Inc. in Philadelphia. Richard D. Powers has been named senior vice president and general manager for ditech.com in Costa Mesa, California. Edward...
Portellus Makes Correspondent Solution Commercially Available
Portellus Inc., Irvine, California, announced that its correspondent origination and investor transaction-management solution is now commercially available for market evaluation and licensing. The solution enables correspondents or conduits to offer...
Portellus Makes Correspondent Solution Commercially Available
Portellus Inc., Irvine, California, announced that its correspondent origination and investor transaction-management solution is now commercially available for market evaluation and licensing.The solution enables correspondents or conduits to offer a...
Protecting against 'Hacktivists'
Citing a growing threat to corporate security from a wide range of attackers, Ian Lim, director of enterprise security for New Century Mortgage, Irvine, California, spelled out the type and severity of these intrusions at a late-September conference...
Regulators Issue Final Guidance on Nontraditional Products
Residential mortgage lenders should ramp up their existing risk-management and consumer-protection practices to adequately address borrower risk when offering nontraditional mortgage products--that's the latest marching orders under final guidance...
Regulators Issue Final Guidance on Nontraditional Products
Residential mortgage lenders should ramp up their existing risk-management and consumer-protection practices to adequately address borrower risk when offering nontraditional mortgage products-that's the latest marching orders under final guidance issued...
Seven Habits of Highly Defective Mortgage Bankers
As consultants to the mortgage banking industry, we work with and get to know a wide variety of companies-some successful, some not. What have we seen that differentiates the long-term winners from the also-rans or those headed for eventual failure?...
Seven Habits of Highly Defective Mortgage Bankers: Two Veteran Industry Consultants Share What They've Learned about Traits Common to Underperforming Companies
As consultants to the mortgage banking industry, we work with and get to know a wide variety of companies--some successful, some not. What have we seen that differentiates the long-term winners from the also-rans or those headed for eventual failure?...
Suburban Office Markets to Strengthen
Look for U.S. suburban real estate markets to gain momentum over the next year as available space continues to decline in cities across the country, while rent growth is forecast across the nation, according to New York-based Cushman & Wakefield....
Suburban Office Markets to Strengthen
Look for U.S. suburban real estate markets to gain momentum over the next year as available space continues to decline in cities across the country, while rent growth is forecast across the nation, according to New York-based Cushman & Wakefield.Cushman...
Terrorism Insurance Availability, Affordability Improved since 9/11
The availability and affordability of terrorism-risk insurance has improved following the Sept. 11, 2001, terrorist attacks as insurers have allocated additional capacity to risk insurance, prices have declined and purchase rates have increased, according...
Terrorism Insurance Availability, Affordability Improved since 9/11
The availability and affordability of terrorism-risk insurance has improved following the Sept. 11, 2001, terrorist attacks as insurers have allocated additional capacity to risk insurance, prices have declined and purchase rates have increased, according...
The Best Is Yet to Come
The soothsayers are back, predicting the "sad" fate of the national housing market. Supposed industry experts have come out of the woodwork to report doom and gloom for the entire industry. According to recent reports, the foundation of our economy...
THE Broker Portal Space
There's lively competition in the broker portal space. The big question is will independent portals survive, or will brokers seek this functionality from inside their origination systems?In six short years, mortgage business-to-business (626) exchanges...
The Broker Portal Space: There's Lively Competition in the Broker Portal Space. the Big Question Is Will Independent Portals Survive, or Will Brokers Seek This Functionality from Inside Their Origination Systems?
In six short years, mortgage business-to-business (B2B) exchanges virtually disappeared as the mortgage broker portal business evolved, and a technology sector where 20 companies once played is now down to a small handful of companies. [??] The sector...
The Return of ABN AMRO
After missing the boom in nonconforming lending, ABN AMRO Mortgage Group is on its way back.When Thomas Goldstein became chairman and chief executive officer of Chicago-based ABN AMRO Mortgage Group Inc. (AAMG) in February 2005, the company was seriously...
The Return of ABN AMRO: After Missing the Boom in Nonconforming Lending, ABN AMRO Mortgage Group Is on Its Way Back
When Thomas Goldstein became chairman and chief executive officer of Chicago-based ABN AMRO Mortgage Group Inc. (AAMG) in February 2005, the company was seriously limping. [??] The former high-flying mortgage banking firm stumbled badly in 2003, and...
The Ticker
Price Price Ticker Close Close 52-Week 52-Week Company Symbol 9/30/06 8/31/06 High Low Indymac Bancorp Inc. NDE 41.16 39.10 ...
Think Small
Sales trainers and business coaches have been urging originators for years to "think outside the box." Most people trying this technique focus their efforts on finding ways to increase their sales. After all, top salespeople win company awards and...
Top 25 Counties-Existing-Home Transactions
First-Half 2006, Nationwide / Sort Order: Number of Loans Market Avg. Rank County Count Dollar Amount Share Amount 1 LOS ANGELES, CA 89,495 $27,559,685,384 ...
Top 25 Counties-New-Home Transactions
First-Half 2006, Nationwide / Sort Order: Number of Loans Market Avg. Rank County Count Dollar Amount Share Amount 1 MARICOPA, AZ 27,848 $5,441,028,257 ...
U.S. Hotel Buyers Outnumber Sellers
The strong appetite for hotel ownership persists, as aspiring buyers outnumber potential sellers by a margin of 5 to 2, according to a report by New York-based Jones Lang LaSalle Hotels. The Jones Lang LaSalle Hotels' Hotel Investor Sentiment Survey,...
U.S. Hotel Buyers Outnumber Sellers
The strong appetite for hotel ownership persists, as aspiring buyers outnumber potential sellers by a margin of 5 to 2, according to a report by New York-based Jones Lang LaSaIIe hotels.The Jones Lang LaSaIIe hotels' hotel Investor Sentiment Survey,...