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. 7, April

4Q Commercial Leading Indicator Remains High
Following seven consecutive quarters of steady increases, commercial real estate activity held to its highest level on record during the fourth quarter of 2006, according to the National Association of Realtors[R] (NAR), Chicago. NAR's Commercial...
An Exercise in Process Efficiency
Imaging and indexing paper loan documents through an enterprise contentmanagement system helped bring new efficiencies to two commercial mortgage operations. Capstone Realty Advisors and Principal Real Estate Investors share their experiences.The only...
An Exercise in Process Efficiency: Imaging and Indexing Paper Loan Documents through an Enterprise Content-Management System Helped Bring New Efficiencies to Two Commercial Mortgage Operations. Capstone Realty Advisors and Principal Real Estate Investors Share Their Experiences
The only thing more paper-intensive than originating a commercial mortgage may be the servicing of a commercial mortgage. The typical commercial loan file can start with a 10-page application and blossom with the addition of a 200-page appraisal. [??]...
Anglo Irish Bank Provides $93 Million to Fund Chicago Building Acquisition
Anglo Irish Bank, Dublin, Ireland, announced it has provided $92.9 million in acquisition financing to a joint venture between a syndicate of Irish-based private clients of the bank's Wealth Management Division and Chicago-based Golub & Company...
Apartment Market Conditions Soften, but Still Favorable
Conditions in the apartment market declined during the fourth quarter of 2006 but remained favorable overall, according to the National Multi Housing Council (NMHC), Washington, D.C. NMHC's January 2007 Quarterly Survey of Apartment Market Conditions...
Building A Compliance Company
Blending banking and lending expertise with regulatory know-how has helped make a name for PCi in the compliance field. HMDA and fair-lending solutions are just part of their menu of solutions.Mortgage lenders are facing an ever-increasing maze of rules...
Building a Compliance Company: Blending Banking and Lending Expertise with Regulatory Know-How Has Helped Make a Name for PCi in the Compliance Field. HMDA and Fair-Lending Solutions Are Just Part of Their Menu of Solutions
Mortgage lenders are facing an ever-increasing maze of rules and regulations that govern loan origination. Over the last decade, the business of loan compliance has grown much more complex, and regulators are pursuing offenders more aggressively than...
Calendar of Events
April 2007 April 9-10 Illinois Association of Mortgage Brokers and Illinois Mortgage Bankers Association 2007 Midwest Lending Conference, Rosemont, Illinois [www.imba.org] April 11-12 Commercial Mortgage Securities...
California Home Affordability Declined in 2006
Affordability concerns continued to impact the residential real estate market in California as the share of first-time buyers declined to the state's second-lowest level, from 30.5 percent in 2005 to 27.1 percent in 2006, according to a report released...
California Home Affordability Declined in 2006
Affordability concerns continued to impact the residential real estate market in California as the share of first-time buyers declined to the state's second-lowest level, from 30.5 percent in 2005 to 27.1 percent in 2006, according to a report released...
Commercial Banks Top Record High in Customer Satisfaction
Commercial banks helped lead the way to an all-time high level of customer satisfaction during the fourth quarter of 2006, according to a report by the University of Michigan, Ann Arbor, Michigan. The University of Michigan's American Customer Satisfaction...
Commercial Banks Top Record High in Customer Satisfaction
Commercial banks helped lead the way to an all-time high level of customer satisfaction during the fourth quarter of 2006, according to a report by the University of Michigan, Ann Arbor, Michigan.The University of Michigan's American Customer Satisfaction...
Compliance Ease Finds a Niche
Two long-time partners in the mortgage business find new roles as founders of a high-tech mortgage compliance company.Some people are lucky enough to create one successful company in their lifetime. John Vong and Anita Kwan founded two. The first company...
ComplianceEase Finds a Niche: Two Long-Time Partners in the Mortgage Business Find New Roles as Founders of a High-Tech Mortgage Compliance Company
Some people are lucky enough to create one successful company in their lifetime. John Vong and Anita Kwan founded two. The first company attracted the attention of a bigger firm, which acquired it. The second company also attracted the interest of...
Compliance Simplified
Today lenders face compliance challenges that can seem insurmountable. From a wide array of anti-predatory-lending laws to the Home Mortgage Disclosure Act (HMDA), from the Real Estate Settlement Procedures Act (RESPA) to state licensing statutes,...
Delving Deeper: Findings from the Council to Shape Change
In February's Deal Talk column, we discussed the workings of the Council to Shape Change--a group of leaders and doers who are currently running essential business functions within the real estate finance industry. In response to the report issued...
DRI Default-Servicing Software Adds Four New Modules
DRI Management Systems, Newport Beach, California, has announced the addition of four new modules to its flagship software, The Default Solution. In addition to its existing suite of six modules, The Default Solution will now feature additional...
DRI Default-Servicing Software Adds Four New Modules
DRI Management Systems, Newport Beach, California, has announced the addition of four new modules to its flagship software, The Default Solution.In addition to its existing suite of six modules, The Default Solution will now feature additional software...
Dynatek Receives MXCompliance Certification for Flood
Dynatek Inc., Livonia, Michigan, announced that its MORvision[TM] mortgage automation system has been certified by MISMO[R] for Flood Request V2.3.2--Export and Flood Response v2.3.2. Dynatek noted it is among the first in the industry to receive...
Dynatek Receives MXCompliance for Flood
Dynatek Inc., Livonia, Michigan, announced that its MORvision(TM) mortgage automation system has been certified by MISMO® for Flood Request V2-3.2-Export and Flood Response V2-3.2.Dynatek noted it is among the first in the industry to receive this certification,...
Ellie Mae Announces Encompass WebCenter
Dublin, California-based Ellie Mae Inc. has launched Encompass[R] WebCenter, a next-generation Web site that links mortgage originators with borrowers, real estate agents and other partners by enabling two-way Web-based communication for all aspects...
Ellie Mae Announces Encompass WebCenter
Dublin, California-based Ellie Mae Inc. has launched Encompass® WebCenter, a next-generation Web site that links mortgage originators with borrowers, real estate agents and other partners by enabling two-way Web-based communication for all aspects of...
Fannie, Freddie to Offer New Joint Mortgage Forms
Fannie Mae and Freddie Mac announced new jointly developed master-form and short-form uniform security instruments. The downloadable forms for use in 27 states will permit recording of a master-form mortgage or deed of trust and short forms that...
Fannie, Freddie to Offer New Joint Mortgage Forms
Fannie Mae and Freddie Mac announced new jointly developed master-form and short-form uniform security instruments.The downloadable forms for use in 27 states will permit recording of a master-form mortgage or deed of trust and short forms that reference...
Forecasters Raise Near-Term Estimates for Economic Growth
Expect to see faster economic growth over the next several quarters than previously estimated, while measures of core inflation in the U.S. economy will decelerate in 2007 and hold nearly steady through 2009, according to 49 forecasters surveyed by...
Forecasters Raise Near-Term Estimates for Economic Growth
Expect to see faster economic growth over the next several quarters than previously estimated, while measures of core inflation in the U.S. economy will decelerate in 2007 and hold nearly steady through 2009, according to 49 forecasters surveyed by the...
Freddie Mac Rolls out Tougher Subprime Lending Standards
Freddie Mac announced it would cease buying subprime mortgages that have a high likelihood of excessive payment shock and possible foreclosure, while the government-sponsored enterprise (GSE) also works to develop model subprime mortgages. Freddie...
Freddie Mac Rolls out Tougher Subprime Lending Standards
Freddie Mac announced it would cease buying subprime mortgages that have a high likelihood of excessive payment shock and possible foreclosure, while the government-sponsored enterprise (GSE) also works to develop model subprime mortgages.Freddie Mac...
Got Collaboration?
Electronic document networks hold great promise for the mortgage industry. For a few early adopters, they are delivering faster turnaround times and new efficiencies in many segments of the business.To say the mortgage industry is in a state of change...
Got Collaboration? Electronic Document Networks Hold Great Promise for the Mortgage Industry. for a Few Early Adopters, They Are Delivering Faster Turnaround Times and New Efficiencies in Many Segments of the Business
To say the mortgage industry is in a state of change would be an understatement. In stark contrast with the past, when every transaction was paper-based and loan folders lay in piles, today's collaborative systems enable participants to capture, submit,...
Guidance for the Critical Forbearance Agreement
No one need tell servicers why loss mitigation or settlement of foreclosure actions is a favored approach. Clarification of mechanics and details, though, is worth some scrutiny. Begin with the thought that informality can be dangerous. A friendly,...
Gulf Coast Hurricane Housing Bill Clears House Committee
A measure intended to provide comprehensive housing relief for Gulf Coast communities affected by the 2005 hurricanes overwhelmingly cleared the House Financial Services Committee in March. Passage of the bill--the Gulf Coast Hurricane Housing Recovery...
Gulf Coast Hurricane Housing Bill Clears House Committee
A measure intended to provide comprehensive housing relief for Gulf Coast communities affected by the 2005 hurricanes overwhelmingly cleared the House Financial Services Committee in March.Passage of the bill-the Gulf Coast Hurricane Housing Recovery...
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 FEB-06 2,132 1,847 285 2,147 1,711 436 MAR-06...
iComply's Got Compliance Covered
A unique resource in the mortgage industry has made industry laws, regulations and legal rulings accessible by computer. Washington, D.C.-based Lotstein Buckman LLP's iComply database transforms average mortgage professionals into up-to-speed compliance...
iComply's Got Compliance Covered: A Unique Resource in the Mortgage Industry Has Made Industry Laws, Regulations and Legal Rulings Accessible by Computer. Washington, D.C.-Based Lotstein Buckman LLP's iComply Database Transforms Average Mortgage Professionals into Up-to-Speed Compliance People No Matter Where They Operate
Ever wonder whether your mortgage banking attorney is really top-flight instead of just OK? Then ask your attorney what's required to open branch offices in New Jersey and Nevada. [??] That so-so lawyer will tell you both states require lenders to...
Industrial Market Remains Strong during 4Q
Following a strong third quarter, the industrial real estate market was marked by steady demand during the fourth quarter of 2006, although rents and construction did not increase as much as anticipated, according to Boston-based Colliers International...
Industrial Market Remains Strong during 4Q
Following a strong third quarter, the industrial real estate market was marked by steady demand during the fourth quarter of 2006, although rents and construction did not increase as much as anticipated, according to Boston-based Colliers International...
Key Economic Indicators and Interest Rates
CONSUMER PRICES, MBA YEAR-OVER-YEAR MORTGAGE INTEREST CHANGE IN CHANGE (%) RATES (%) PAYROLL UNEMPLOYMENT ALL ITEMS 30-...
Managing Fair-Lending Risk
This former state banking regulator describes what lies ahead on the fair-lending enforcement front.When the New York State Banking Department (NYSBD) announced plans to examine mortgage brokers for potential fair-lending violations on Sept. 13, 2006,...
MBA, FBI Extend Partnership to Combat Mortgage Fraud
The Federal Bureau of Investigation (FBI) and the Mortgage Bankers Association (MBA) have taken another step forward together in their partnership to combat the crime of mortgage fraud against lenders. MBA Chairman John M. Robbins, CMB, and FBI...
MBA, FBI Extend Partnership to Combat Mortgage Fraud
The Federal Bureau of Investigation (FBI) and the Mortgage Bankers Association (MBA) have taken another step forward together in their partnership to combat the crime of mortgage fraud against lenders.MBA Chairman John M. Robbins, CMB, and FBI Financial...
MBA Urges Swift, Permanent Terrorism-Insurance Renewal
Congress should move with all deliberate speed to replace a soon-to-expire stop-gap terrorism insurance measure with permanent, comprehensive reform, a Mortgage Bankers Association (MBA) officer told members at a special House Financial Services Subcommittee...
MBA Urges Swift, Permanent Terrorism-Insurance Renewal
Congress should move with all deliberate speed to replace a soon-to-expire stop-gap terrorism insurance measure with permanent, comprehensive reform, a Mortgage Bankers Association (MBA) officer told members at a special House Financial Services Subcommittee...
Michael Youngblood-FBR Investment Management Inc
As portfolio manager and managing director of research at Arlington, Virginia-based FBR Investment Management Inc., Michael Youngblood directs research on the fundamental and relative value of non-agency residential mortgage-backed securities (RMBS)...
MORE Responsibilities, MORE Pressures
The practice of mortgage-related law has gotten a lot more complex in recent years. Attorneys are stretching to cover all the bases.Nontraditional mortgage products are all over the news today. Small wonder that these products and their disclosures are...
More Responsibilities, More Pressures: The Practice of Mortgage-Related Law Has Gotten a Lot More Complex in Recent Years. Attorneys Are Stretching to Cover All the Bases
Nontraditional mortgage products are all over the news today. Small wonder that these products and their disclosures are tying up a lot of the working hours of both in-house and outside mortgage industry attorneys. [??] Careful examination of the language...
Mortgage Applications Indexes: Mortgage Bankers Association (MBA)
MARKET COMPOSITES (Unadjusted) Market Purchase Refinance FRM ARM Index Index Index Index Index FEB-06 585.2 412.0 1,593.8 434.1 3,753.0 MAR-06 621.6 454.5 1,594.3 466.5...
Mortgage Insurance 101
With rates rising and appreciation slowing, now might be a good time to give mortgage insurance another look. Add to that the tax deductibility of borrower-paid Ml premiums for some borrowers this year, and it becomes even more appealing.Low-down-payment...
Mortgage Insurance 101: With Rates Rising and Appreciation Slowing, Now Might Be a Good Time to Give Mortgage Insurance Another Look. Add to That the Tax Deductibility of Borrower-Paid MI Premiums for Some Borrowers This Year, and It Becomes Even More Appealing
Low-down-payment loans are becoming an increasingly important part of the mortgage finance landscape. According to a recent study published by the National Association of Realtors[R] (NAR), Chicago, from mid-2005 to mid-2006 nearly half of all first-time...
Multifamily Sector Declined in 2006 from Previous Years
The multifamily housing sector did not fare as well in 2006 as it did during the previous four years, according to the Department of Housing and Urban Development (HUD). The 2006 annual total for multifamily permits was 380,000, down 2.4 percent...
Multifamily Sector Declined in 2006 from Previous Years
The multifamily housing sector did not fare as well in 2006 as it did during the previous four years, according to the Department of Housing and Urban Development (HUD).The 2006 annual total for multifamily permits was 380,000, down 2.4 percent from...
National Residential Lenders-Top 25
Fourth-Quarter 2006 / Sort Order: Total Loan Amount PURCHASE Share Number of of...
New Challenges, New Opportunities in Today's Environment
For those of us who have lived through the dramatic sea changes in the mortgage industry over the past 10 or more years, the market environment in 2007 feels like yet another changing era. The industry changes over the past decade have taken us from...
OFHEO Finds Q4 Home Prices Steady
The average price of a home in the United States during the fourth quarter of 2006 remained steady, extending a general trend of slowing price growth begun earlier in the year, according to the Office of Federal Housing Enterprise Oversight (OFHEO)....
OFHEO Finds Q4 Home Prices Steady
The average price of a home in the United States during the fourth quarter of 2006 remained steady, extending a general trend of slowing price growth begun earlier in the year, according to the Office of Federal Housing Enterprise Oversight (OFHEO).Home...
People
Rick E. Smith has been named chief executive officer and Steve Paton has been named senior vice president of New York-based Marathon Asset Management LLC's specialty loan-servicing and loss-mitigation business, Marix. Daniel L. Berta has been appointed...
Putting All the Pieces Together
Online pioneer E-LOAN struggled through the dot-com meltdown and yet survived. Today, with 900 employees and a consumer-friendly focus, it could be positioned to take full advantage of a mini-refinance boom in the year ahead.Mark Lefanowicz, chief executive...
Putting All the Pieces Together: Online Pioneer E-LOAN Struggled through the Dot-Com Meltdown and Yet Survived. Today, with 900 Employees and a Consumer-Friendly Focus, It Could Be Positioned to Take Full Advantage of a Mini-Refinance Boom in the Year Ahead
Mark Lefanowicz, chief executive officer of Pleasanton, California-based E-LOAN Inc., was describing the challenge of delivering mortgages through the Internet when, almost by second thought, he left the conference room and ran back to his office....
Real Estate's Allure
You can't throw a rock in California without hitting a loan officer or real estate agent willing to relate horror stories about the recent housing boom. For example, a young family in Santa Barbara decided to refinance their fixed-rate mortgage (FRM)...
Regulators Issue Guidance on Subprime Mortgage Lending
Residential mortgage lenders should review their risk-management and consumer-protection practices and be prepared to explain why they don't require further government scrutiny when issuing a subprime mortgage product. This advice comes as a group...
Regulators Issue Guidance on Subprime Mortgage Lending
Residential mortgage lenders should review their risk-management and consumer-protection practices and be prepared to explain why they don't require further government scrutiny when issuing a subprime mortgage product. This advice comes as a group of...
Regulatory Overload
A host of issues are simmering at the state, local and federal levels. Regulators and lawmakers are generating new guidance and legislation over mortgage issues at a dizzying pace.These days, it seems lawmakers and regulators at nearly every jurisdictional...
Regulatory Overload: A Host of Issues Are Simmering at the State, Local and Federal Levels. Regulators and Lawmakers Are Generating New Guidance and Legislation over Mortgage Issues at a Dizzying Pace
These days, it seems lawmakers and regulators at nearly every jurisdictional level are working on rules to further govern the mortgage business. [??] Whether it is weighing in on the "suitability" of a loan's terms, title insurance practices, Real...
Reinventing Workflow
Given the current mortgage underwriting process and the way that mortgage loans are being priced and purchased by Wall Street investors, profit margins for mortgage lenders are razor-thin relative to a year or so ago. To remain profitable in this volatile...
The Ticker
Price Price Ticker Close Close 52-Week 52-Week Company Symbol 2/28/07 1/31/07 High Low Indymac Bancorp Inc. NDE 34.33 38.89 ...
Top 25 Counties-Existing-Home Transactions
Fourth-Quarter 2006, Nationwide / Sort Order: Number of Loans Market Avg. Rank County Count Dollar Amount Share Amount 1 LOS ANGELES, CA 37,718 $12,213,957,001...
Top 25 Counties-New-Home Transactions
Fourth-Quarter 2006, Nationwide / Sort Order: Number of Loans Market Rank County Count Dollar Amount Share Avg. Amount 1 MARICOPA, AZ 16,218 $3,248,371,905 ...
Zoot Enterprises Reports Record Year in 2006
Zoot Enterprises, Bozeman, Montana, announced a record performance in 2006, as the company said it processed more than 200 million transactions--a 47 percent increase in volume from 2005. For the fifth year in a row, the company reported, its core-processing...
Zoot Enterprises Reports Record Year in 2006
Zoot Enterprises, Bozeman, Montana, announced a record performance in 2006, as the company said it processed more than 200 million transactions-a 47 percent increase in volume from 2005.For the fifth year in a row, the company reported, its coreprocessing...