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. 71, No. 8, May

50 States by Appreciation Rate: (January 2011 Data, Ranked Worst to Best in Percent Decline from Peak-Includes District of Columbia)
Rank State Peak Month % Decline 12-Month Since Peak HPI Change (January 2011) 1 NEVADA MARCH 2006 -54.53% -5.76% 2 ARIZONA ...
A Multi-Dimensional View of MULTIFAMILY
The multifamily market is coming back strong, with new demand fueled partly by former homeowners. Will the trend hold?The last few years have been a period of dramatic change for the U.S. economy and its real estate markets. With most of the focus on...
A Multi-Dimensional View of Multifamily: The Multifamily Market Is Coming Back Strong, with New Demand Fueled Partly by Former Homeowners. Will the Trend Hold?
The last few years have been a period of dramatic change for the U.S. economy and its real estate markets. With most of the focus on single-family owned housing, the degree to which change has come to multifamily apartment markets may not be getting...
A New Fair Lending Crackdown
Enforcement cases have spiked sharply in recent times. Mortgage lenders need to be aware of new risks that can trigger enforcement trouble.Mortgage lenders navigating today's rough terrain can make the mistake of not scanning the horizon. Busy with the...
A New Fair Lending Crackdown: Enforcement Cases Have Spiked Sharply in Recent Times. Mortgage Lenders Need to Be Aware of New Risks That Can Trigger Enforcement Trouble
Mortgage lenders navigating today's rough terrain can make the mistake of not scanning the horizon. Busy with the challenges of market weakness, political and media criticism, a host of new rules and few signposts for secondary market reform, many...
Automation Allows Servicers to Respond to Mortgage Reform
Mortgage Cadence LLC, Denver, a provider of enterprise lending solutions (ELS), default servicing technology and document services for the financial services industry, says its Reprise Consumer Direct Portal delivers powerful servicing automation to...
Automation Allows Servicers to Respond to Mortgage Reform
Iortgage Cadence LLC, Denver, a provider of enter prise lending solutions (ELS), default servicing technology and document services for the financial services industry, says its Reprise Consumer Direct Portal delivers powerful servicing automation to...
Beige Book: CRE Activity Generally Slow to Stable
Commercial real estate market activity remained slow in the Philadelphia Federal Reserve district and at low levels in the Boston, Atlanta and San Francisco districts, with slight upticks in most of the other districts, according to April's Federal...
Brace Yourself
The floodgates have officially opened for the regulatory backlash from the mortgage market crisis. Last summer, we watched as the wide-ranging, shock-and-awe Dodd-Frank Wall Street Reform and Consumer Protection Act was adopted in response to the global...
Canada's Davis + Henderson Acquiring Mortgagebot
Davis + Henderson Corporation (D+H), Toronto, Ontario, in mid-April was scheduled to close a deal to acquire Mortgagebot LLC, Mequon, Wisconsin, for $231.8 million (U.S. dollars), payable in cash. Mortgagebot is a provider of Web-based mortgage...
Canada's Davis + Henderson Acquiring Mortgagebot
Davis + Henderson Corporation (D+H), Toronto, Ontario, in mid-April was scheduled to close a deal to acquire Mortgagebot LLC, Mequon, Wisconsin, for $231.8 million (U.S. dollars), payable in cash.Mortgagebot is a provider of Web-based mortgage point-of-sale...
Clear Capital Reports Home-Price Double-Dip in West Region
Plagued by heavy inventories of distressed properties, the Westregion of the country saw home prices dive through recent lows, reaching levels not seen since 2001. Evidence of the region's double-dip was the latest news in a March report from home...
Clear Capital Reports Home-Price Double-Dip in West Region
Plagued by heavy inventories of distressed properties, the West region of the country saw home prices dive through recent lows, reaching levels not seen since 2001. Evidence of the region's double-dip was the latest news in a March report from homeprice...
CoreLogic Acquires Dorado Network Systems
CoreLogic, Santa Ana, California, a provider of information, analytics and business services, has completed its acquisition of Dorado Network Systems Corporation in a $32 million all-cash transaction. Dorado is a provider of collaborative cloud-computing...
CoreLogic Acquires Dorado Network Systems
CoreLogic, Santa Ana, California, a provider of information, analytics and business services, has completed its acquisition of Dorado Network Systems Corporation in a $32 million all-cash transaction. Dorado is a provider of collaborative cloud-computing...
CoreLogic Integrates Fannie Mae LQI Compliance Suite with Ellie Mae Encompass
Santa Ana, California--based CoreLogic has announced that CoreLogic Credco, a provider of merged credit reports, has integrated FinalCheck into Pleasanton, California--based Ellie Mae's Encompass360[R] mortgage management solution. FinalCheck, an automated...
CoreLogic IntelliMods Automates Loan Modification
CoreLogic, Santa Ana, California, has introduced IntelliMods[TM] a flexible Web-based application that accelerates loan modifications by automating decisioning and fulfillment for both government and private investor programs. IntelliMods simplifies...
CoreLogic IntelliMods Automates Loan Modification
CoreLogic, Santa Ana, California, has introduced IntelliMods(TM) a flexible Web-based application that accelerates loan modifications by automating decisioning and fulfillment for both government and private investor programs.IntelliMods simplifies the...
Covering the Bases
Today's compliance departments have their hands full juggling a rash of new laws and regulations. A review of lenders' top compliance concerns shows how tough it is to keep a winning record.Every year, hope springs eternal for baseball fans across the...
Covering the Bases: Today's Compliance Departments Have Their Hands Full Juggling a Rash of New Laws and Regulations. A Review of Lenders' Top Compliance Concerns Shows How Tough It Is to Keep a Winning Record
Every year, hope springs eternal for baseball fans across the country. No matter how well or poorly the previous season finished, die-hard fans think this is the year their home team will finally pull through and win the World Series. [ILLUSTRATION...
CRE Maturities Still Challenge Industry as Liquidity Increases
With credit markets on the mend, challenges remain for the commercial real estate (CRE) industry to stave off loan maturities by 2013 and beyond. "The credit markets have begun to recover. There is an increased supply of private liquidity coming...
DANGER Ahead
Increased federal involvement in the mortgage market means more potential False Claims Act liability, and the courts are only making matters worse.The recent subprime mortgage crisis and housing market decline have led to unprecedented federal government...
Danger Ahead: Increased Federal Involvement in the Mortgage Market Means More Potential False Claims Act Liability, and the Courts Are Only Making Matters Worse
The recent subprime mortgage crisis and housing market decline have led to unprecedented federal government involvement in the mortgage industry. According to the Department of Housing and Urban Development's (HUD's) report to Congress regarding the...
Fed/OCC/OTS/FDIC Announce Enforcement Actions against Large Servicers
Formal enforcement actions against 14 of the nation's top servicers were announced on April 13 by federal banking regulators, but the consent decrees did not satisfy those in Congress hoping regulators would hold off and endorse a stricter settlement...
Fed/OCC/OTS/FDIC Announce Enforcement Actions against Large Servicers
Formal enforcement actions against 14 of the nation's top servicers were announced on April 13 by federal banking regulators, but the consent decrees did not satisfy those in Congress hoping regulators would hold off and endorse a stricter settlement...
Few Failed Banks 'Watch' Nonperforming CRE Loans Roar into March
March had the fewest bank failures since December 2008, but commercial mortgages still represented nearly 35 percent of nonperforming loans at the failed financial institutions, according to Trepp LLC, New York. In its monthly U.S. Bank Failure...
FinCEN Finds Reports of Commercial Real Estate Fraud Up Dramatically
Reported incidences of suspicious activity in commercial real estate financing (CREF) almost tripled between 2007 and 2010, according to an analysis of suspicious activity reports (SARs) filed by depository institutions The new analysis of SARs released...
FinCEN Finds Reports of Commercial Real Estate Fraud Up Dramatically
Reported incidences of suspicious activity in commercial real estate financing (CREF) almost tripled between 2007 and 2010, according to an analysis of suspicious activity reports (SARs) filed by depository institutions. The new analysis of SARs released...
Fraud, Forbearance and Focus in the Industry Turnaround
Sounding more like a physician than a financial analyst, Antulio Bomfim, managing director, Macroeconomic Advisers LLC, Washington, D.C., told an annual meeting of the New York-based American Securitization Forum Inc. (ASF) in Orlando, Florida, this...
GCC Introduces New Version of G/SERV Loan Servicing Platform
GCC Servicing Systems, Southfield, Michigan, a provider of mortgage servicing technology and solutions, has introduced a new browser-based version of its G/SERV loan servicing platform, which automates all steps of the servicing process, from loan...
GCC Introduces New Version of G/SERV Loan Servicing Platform
GCC Servicing Systems, Southfield, Michigan, a provider of mortgage servicing technology and solutions, has introduced a new browser-based version of its G/SERV loan servicing platform, which automates all steps of the servicing process, from loan setup...
GEMSA's Beggins TALK SHOP
Joseph Beggins, chief executive officer of GEMSA Loan Services LP, Houston, discusses current commercial mortgage servicing challenges, including increased investor scrutiny, potential new regulations and increasing costs to implement any new regulations.Joseph...
GEMSA's Beggins Talks Shop: Joseph Beggins, Chief Executive Officer of GEMSA Loan Services LP, Houston, Discusses Current Commercial Mortgage Servicing Challenges, Including Increased Investor Scrutiny, Potential New Regulations and Increasing Costs to Implement Any New Regulations
Joseph Beggins, chief executive officer of GEMSA Loan Services LP, Houston, has been active in the commercial mortgage and commercial real estate business since 1992. While his background includes commercial real estate brokerage and management with...
Housing Activity
Residential Structures (Thousands of Units, SAAR). BY TYPE OF UNIT HOUSING STARTS Total Single- Family Multi-Family MAR-10 634 543 91 APR-10 679 ...
InHouse Offers Appraiser Credentials Management
InHouse Inc., Orange, California, an appraisal management company (AMC) and provider of appraisal management technology for banks, lenders, servicers, credit unions and other mortgage originators, announced that its Connexions appraisal management...
InHouse Offers Appraiser Credentials Management
InHouse Inc., Orange, California, an appraisal manage ment company (AMC) and provider of appraisal management technology for banks, lenders, servicers, credit unions and other mortgage originators, announced that its Connexions appraisal management system...
Key Economic Indicators and Interest Rates
CONSUMER PRICES YEAR-OVER-YEAR CHANGE(%) CHANGE UNEMPLOYMENT ALL ITEMS ALL ITEMS IN PAYROLL RATE (%) LESS FOOD AND ENERGY ...
Market Trends Overview by State: (January 2011 Data, Ranked Worst to Best by Foreclosure Rate Includes District of Columbia)
Rank State Foreclosure Rate Foreclosure Rate REO Rate 12 Months Ago 1 FLORIDA 12.40% 10.84% 1.22% 2 NEVADA 8.31% ...
Metlife Named Exclusive Reverse-Mortgage Provider for Prime Alliance
MetLife Bank NA, the country's third-largest provider of federally insured reverse mortgages, was named the exclusive provider of reverse-mortgage programs by a major player in the credit union space--Prime Alliance Solutions Inc., Tukwila, Washington....
MetLife Named Exclusive Reverse-Mortgage Provider for Prime Alliance
MetLife Bank NA, the country's third-largest provider of federally insured reverse mortgages, was named lthe exclusive provider of reverse-mortgage programs by a major player in the credit union space - Prime Alliance Solutions Inc.Tukwila, Washington....
Mods Making a Difference?
There's no question the dominant theme in the industry has been--and will continue to be--the bloated pipeline of loans either seriously delinquent or in foreclosure. When one considers how long this crisis will take to unwind, the statistics can be...
Mortgage Applications Indexes: Mortgage Bankers Association (MBA)
MARKET COMPOSITE (Unadjusted) Market Index Purchase Index Refinance Index FRM Index MAR-10 6 37.1 256.1 2, 853.9 635.1 APR-10 563.9 284.5 2, 189.6 554.8 MAY-10...
New Lease Accounting Standards Present Challenges, Opportunity
Financial Accounting Standards Board (FASB)/International Accounting Standards Board (IASB) changes to lease accounting standards could present inflated balance sheets but opportunities as well, said E.J. Huntley, principal at Deloitte Financial Advisory...
New LoanSifter Enhancements Help Lenders Maintain Reg Z Compliance
LoanSifter Inc., Appleton, Wisconsin, a complete product and pricing platform, has enhanced its solutions to help lenders maintain compliance with federal Truth-in-Lending Act (TILA) changes that were scheduled to take effect on April 1, 2011, while...
New LoanSifter Enhancements Help Lenders Maintain Reg Z Compliance
LoanSifter Inc., Appleton, Wisconsin, a complete product and pricing platform, has enhanced its solutions to help lenders maintain compliance with federal Truth-in-Lending Act (TILA) changes that were scheduled to take effect on April i, 201 1, while...
New Rules! but Visibility Is Still Murky
When we look back at this mortgage market cycle years from now, it may very well be deemed the "Era of New Rules" that logically followed the big meltdown. Even Hasbro Inc., the toy maker, has decided recently to issue a new edition of the classic...
Opportunistic Multifamily Acquisitions Reward REITs
Real estate investment trust (REIT) chief information officers (CI0s) believe they took advantage of most multifamily investment opportunities during the past two years, particularly in core markets, leaving only distressed leftovers clouded by uncertainty...
People
David McCann has been named president and chief executive officer of Varolii Corporation in Seattle. Craig Wildrick has been named chief operating officer for Allonhill in Denver. Frank Elmore has been named chief information officer for Mortgage Contracting...
PriceMyLoan and ComplianceEase Integrate
PriceMyLoan, Irvine, California, announced an integration that enables lenders to use the PriceMyLoan platform to make automated underwriting and loan pricing decisions while simultaneously relying on ComplianceEase[R], Burlingame, California, to ensure...
PriceMyLoan and ComplianceEase Integrate
PriceMyLoan, Irvine, California, announced an inte gration that enables lenders to use the PriceMyLoan platform to make automated underwriting and loan pricing decisions while simultaneously relying on ComplianceEase®, Burlingame, California, to ensure...
Pullback in Retail Construction Follows Consumer Response
A "severe" pullback in new construction kept retail vacancies at 10.9 percent during the first quarter this year while regional mall vacancies increased 40 basis points to 9.1 percent, according to Reis Inc., New York. "This latest increase appears...
QRM Heightens Need for Verification Tools
As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, seven federal agencies are jointly defining a Qualified Residential Mortgage (QRM). Such mortgage loans will be exempt from the law's risk-retention requirements because they...
Reconsidering MISMO for COMMERCIAL
Data standards in the commercial real estate finance world have been extremely slow to take hold. This study of market participants reveals the factors behind the holdup, and some arguments for why it may be time for a change.For the past 10 years, we've...
Reconsidering MISMO of Commercial: Data Standards in the Commercial Real Estate Finance World Have Been Extremely Slow to Take Hold. This Study of Market Participants Reveals the Factors Behind the Holdup, and Some Arguments for Why It May Be Time for a Change
For the past 10 years, we've been studying business data and process standardization in the residential mortgage industry as well as in the automotive and retailing industries. In projects sponsored by the National Science Foundation (NSF), Arlington,...
Red Mortgage Capital Provides $177 Million for Multifamily Communities
Red Mortgage Capital LLC, Columbus, Ohio, provided nearly $177 million for multifamily properties in Colorado, Washington, Arizona, Maryland and Texas. Red Mortgage Capital provided $78.1 million financing for multifamily apartment communities in...
Regulators Hit with Barrage of Concerns over QRM Proposal
On March 31, six federal agencies issued a proposed rule seeking to define what will be considered a Qualified Residential Mortgage (QRM) for purposes of enforcing the risk-retention rules in the Dodd-Frank Wall Street Reform and Consumer Protection...
Regulators Hit with Barrage of Concerns over QRM Proposals
On March 31, six federal agencies issued a proposed rule seeking to define what will be considered a Qualified Residential Mortgage (QRM) for purposes of enforcing the risk-retention rules in the Dodd-Frank Wall Street Reform and Consumer Protection...
Setting the Record Straight on Mers
The foreclosure crisis ignited a media firestorm around the legitimacy of an electronic registry built by the industry to track ownership of mortgages and servicing. It's taking a while to get to the truth.It has been decried as a shell corporation....
Setting the Record Straight on MERS: The Foreclosure Crisis Ignited a Media Firestorm around the Legitimacy of an Electronic Registry Built by the Industry to Track Ownership of Mortgages and Servicing. It's Taking a While to Get to the Truth
It has been decried as a shell corporation. Deemed a destroyer of the Colonial era land-records system. Its most outspoken critics have argued its very existence marks the demise of the institution of property rights. ' [ILLUSTRATION OMITTED] ...
The Ticker
Company Ticker Price Close Price Close Symbol 3/31/2011 2/28/2011 BB&T Corp. BBT 27.45 27.60 PulteGroup Inc. PHM 7.4 ...
Those Troublesome Option ARMs
The mortgage industry's most difficult challenge in loan performance and loan modification comes from loans that do not amortize or may even negatively amortize. As progress is made in reducing overall exposure to these loans, the performance of surviving...
Top 25 Core-Based Statistical Areas-Sales Price Market Trends: (January 2011 Data, Ranked by Distressed Sales %)
Rank CBSA Short REO Short Sales Sales Sales (Average Price) (Average Price) (% of ...
Training Happens
This is an essay in three parts. The first part is a definition of training that I love for its simplicity and precision: Training is giving people the skills they need to do their jobs. Given this, unless you hire only people who know your systems,...
Treasury Revs Up HAMP Defense against Bills to Kill Program
The Treasury Department and House Democrats have launched something of a public relations offensive seeking to defend the administration's signature loan-modifi cation program--the Home Affordable Modification Program (HAMP) against legislative assault....
Treasury Revs Up HAMP Defense against Bills to Kill Program
The Treasury Department and House Democrats have launched something of a public relations offensive seeking to defend the administration's signature loan-modification program - the Home Affordable Modification Program (HAMP) - against legislative assault....
Walking the WALK
It takes something special to be a long-term winner in the mortgage origination business. WinstonSalem, North Carolina-based BB&T seems to have the right formula and has turned it into a science.Sales success can be fleeting in the rough and tumble...
Walking the Walk: It Takes Something Special to Be a Long-Term Winner in the Mortgage Origination Business. Winston-Salem, North Carolina-Based BB&T Seems to Have the Right Formula and Has Turned It into a Science
Sales success can be fleeting in the rough and tumble world of mortgage banking. The industry landscape is littered with for mer top companies that once dominated, yet did not survive the recent financial crisis. Mortgage lending can be a fickle business...
What about Private MI?
Despite mortgage brokers' concerns over the growth of loan regulations, there are indications Washington wants to lessen its involvement with the mortgage business. In particular, recent Federal Housing Administration (FHA) changes could be a sign...
Will Technology Shape the Future of Commercial Servicing?
The commercial and multifamily mortgage servicing industry is emerging from a historically tumultuous period. In recent years, mortgage servicers faced a host of challenges as the national economy slipped into a recession, and credit issues resulted...
Wingspan Upgrades Investor Portal
Carrollton, Texas-based Winspan Portfolio Advisors, a component and special servicer, has rolled out its upgraded technology to provide clients with extensive visibility into Wingspan's resolution process. The improved Web-based Investor Portal provides...
Wingspan Upgrades Investor Portal
Carrollton, Texas-based Winspan Portfolio Advisors, a component and special servicer, has rolled out its upgraded technology to provide clients with extensive visibility into Wingspan's resolution process. The improved Web-based Investor Portal provides...
Wolters Kluwer Unveils CRA and Fair Lending Reporting Tool
Minneapolis-based Wolters Kluwer Financial Services has launched its new Wiz[R] Compliance Dashboards solution. The dynamic reporting tool can provide financial institutions with a complete and consolidated view of their Community Reinvestment Act...
Wolters Kluwer Unveils CRA and Fair Lending Reporting Tool
Minneapolis-based Wolters Kluwer Financial Servicies has launched its new Wiz® Compliance Dashboards solution. The dynamic reporting tool can provide financial institutions with a complete and consolidated view of their Community Reinvestment Act (CRA)...