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. 73, No. 3, December

50 States by Appreciation Rate
(August 2012 Data, Ranked Worst to Best in Percent Decline from Peak--Includes District of Columbia) Rank State Peak Month % Decline 12-Month Since HPI Change ...
A Matter of Values
As we near the end of 2012--live years or so after the housing meltdown--it seems fair to ask: Are home values starting to recover? Or do they still have farther to fall? Or is it all in the eye of the beholder? Trying to assign accurate property...
A Rebound at United Guaranty
The mortgage insurance subsidiary of AIG has been breaking new ground and grabbing market share with a new approach to pricing its coverage."What doesn't kill you makes you stronger" is an old saying revived by American pop singer Kelly Clarkson, who...
A Rebound United Guaranty: The Mortgage Insurance Subsidiary of AIG Has Been Breaking New Ground and Grabbing Market Share with a New Approach to Pricing Its Coverage
"What doesn't kill you makes you stronger" is an old saying revived by American pop singer Kelly Clarkson, who had a No. I hit by that name last year. It could well be the anthem for United Guaranty Corporation, a Greensboro, North Carolina--based...
CFPB and FHFA Partner to Create a New National Mortgage Database
On Nov. 1, the Consumer Financial Protection Bureau (CFPB) announced it was partnering with the regulator of Fannie Mae and Freddie Mac to create what it called "the first comprehensive repository of detailed mortgage loan information." The CFPB...
CFPB and FHFA Partner to Create a New National Mortgage Database
On Nov. 1, the Consumer Financial Protection Bureau (CFPB) announced it was partnering with the regulator of Fannie Mae and Freddie Mac to create what it called "the first comprehensive repository of detailed mortgage loan information."The CFPB said...
CoreLogic Says Home Prices Rose 5 Percent in September vs. Year Ago
On Nov. 6, CoreLogic, Irvine, California, reported that home prices nationally, including distressed-property sales, rose by 5 percent in September 2012 compared with one year ago. The increase shown in the company's Home Price Index (HPI[R]) report...
CoreLogic Says Home Prices Rose 5 Percent in September vs. Year Ago
On Nov. 6, CoreLogic, Irvine, California, reported that home prices nationally, including distressed-property sales, rose by 5 percent in September 2012 compared with one year ago. The increase shown in the com pany's Home Price Index (H PI®) report...
CRE Investment Falls Slightly in 3Q
Direct investment in U.S. commercial real estate (CRE) fell to $44 billion in the third quarter from $47 billion in the second quarter, according to Jones Lang LaSalle, Chicago. But Josh Gelormini, vice president of Americas research with Jones...
Delinquencies and Foreclosures Decline in Third Quarter
According to the Mortgage Bankers Association's (MBA's) National Delinquency Survey (NDS) for the third quarter, the delinquency rate on single-family loans fell to a seasonally adjusted 7.40 percent, a drop of 18 basis points from the second quarter....
Delinquencies and Foreclosures Decline in Third Quarter
According to the Mortgage Bankers Association's (MBA's) National Delinquency Survey (NDS) for the third quarter, the delinquency rate on singlefamily loans fell to a seasonally adjusted 7.40 percent, a drop of 18 basis points from the second quarter.The...
Fannie Posts Solid Q3 Results with Net Income of $1.8 Billion
In a earnings press release for the third quarter, Fannie Mae said it expects to report annual net income in 2012 for the first time since 2006. The company earned net income of $1.8 billion in the quarter ending Sept. 30. Fannie said it would be...
Fannie Posts Solid Q3 Results with Net Income of $1.8 Billion
In a earnings press release for the third quarter, Fannie Mae said it expects to report annual net income in 2012 for the first time since 2006. The company earned net income of $1.8 billion in the quarter ending Sept. 30.Fannie said it would be able...
FHLBs Are Making Hay
While Fannie Mae and Freddie Mac continue to await their fate, the country's Federal Home Loan Banks (FHLBs) are helping America's community lending institutions play an increasingly larger role in the housing finance system. And they're doing it with...
Fixing Final-Document Chaos
When the housing market was booming, final mortgage documents often were slow in coming and not always accurate. Technology can fix the problem if the industry gets behind it.The bursting of the housing bubble and the subsequent Great Recession exposed...
Fixing Final-Document Chaos: When the Housing Market Was Booming, Final Mortgage Documents Often Were Slow in Coming and Not Always Accurate. Technology Can Fix the Problem If the Industry Gets Behind It
The bursting of the housing bubble and the subsequent Great Recession exposed poor final-document management in mortgages. Looking back, the chaos emanating from poor final-document handling seems wholly disproportionate to the fault. The industry...
Foreclosure-Rescue Scammers
There's a new twist to the old problem of foreclosure-rescue and loan-modification scams: More lawyers face charges for involvement in them. * It's still the usual cat-and-mouse game of false promises to reduce loan payments and prevent foreclosure...
Freddie Reports Net Income of $2.9 Billion for Q3
0n Nov. 6, Freddie Mac, McLean, Virginia, reported it would not need to draw funds from the Treasury to pay its $1.8 billion dividend on senior preferred stock for the third quarter. Instead, it posted net income of $2.9 billion and comprehensive income...
Freddie Reports Net Income of $2.9 Billion for Q3
On Nov. 6, Freddie Mac, McLean, Virginia, reported it would not need to draw funds from the Treasury to pay its $1.8 billion dividend on senior preferred stock for the third quarter. Instead, it posted net income of $2.9 billion and comprehensive income...
Housing Activity
BY TYPE UNIT HOUSING STARTS BUILDING PERMITS TOTAL SINGLE MULTI- TOTAL SINGLE MULTI- NORTHEAST - FAMILY - FAMILY FAMILY FAMILY OCT-11...
Hurricane Sandy: 'Minimal' Effect on CMBS
Though Hurricane Sandy damaged an area that creates 13 percent of U.S. Gross Domestic Product (GDP) with thousands of commercial mortgage-backed securities loans, its CMBS credit effect should be "minimal," according to Moody's Investors Services,...
Hurricane Sandy: 'Minimal' Effect on CMBS
Though Hurricane Sandy damaged an area that creates 13 percent of U.S. Gross Domestic Product (GDP) with thousands of commercial mortgage-backed securities loans, its CMBS credit effect should be "minimal," according to Moody's Investors Services, New...
Increasing the Value of Information
For the past several decades, great effort has been spent to find ways to accurately assess the true value of information. "How can a company with only software for a product be measured in millions of dollars?," the pundits marveled as the concept...
Institutional Returns Approach Long-Term Average
Institutional real estate investment returns fell slightly to 2.34 percent in the third quarter as they continue reverting toward the to-year average of 2.1 percent. "Following the credit crises, capital market demand drove total returns higher...
Institutional Returns Approach Long-Term Average
Institutional real estate investment returns fell slightly to 2.34 percent in the third quarter as they continue reverting toward the 10-year average of 2.1 percent."Following the credit crises, capital market demand drove total returns higher over the...
Intentional Excellence
Our industry faces one of the most historically significant moments in our history. Leading up to the November 2012 elections, powerful consumer emotions, business restructuring and political battles led to new heights of emotional intensity. Now that...
Interthinx and Decision Ready Launch Servicing Quality Control
Agoura Hills, California--based Interthinx and Irvine, California--based Decision Ready have formed an alliance to offer comprehensive quality-control (QC) and quality-assurance programs to the servicing industry. With mortgage servicers facing...
Interthinx and Decision Ready Launch Servicing Quality Control
Agoura Hills, California-based Interthinx and Irvine, California-based Decision Ready have formed an alliance to offer comprehensive quality-control (QC) and quality-assurance programs to the servicing industry.With mortgage servicers facing increasing...
Keeping All Your Options Open
I have been around the mortgage industry for a very long time. And I don't know about you, but this industry has provided a good living for my family over the years. Yes, there certainly have been ups and downs. But overall, this industry has been...
Key Economic Indicators and Interest Rates
CONSUMER PRICES, MBA YEAR-OVER- MORTGAGE YEAR CHANGE (%) INTEREST RATES (%) ...
LaMalfa on Books
The Fateful History of Fannie Mae BY JAMES R. HAGERTY The History Press, 2012 James R. "Bob" Hagerty is a writer and journalist well known to mortgage banking executives. For a decade, he covered most housing- and mortgage finance-related...
LPS Applied Analytics Introduces Two New McDash Modules
Lender Processing Services Inc. (LPS), Jacksonville, Florida, has added two supplemental data modules to enhance McDash, its market-leading loan-level database. The new modules give mortgage professionals access to more data fields than ever to enhance...
LPS Applied Analytics Introduces Two New McDash Modules
Lender Processing Services Inc. (LPS), Jacksonville, Florida, has added two supplemental data modules to enhance McDash, its market-leading loan-level database. The new modules give mortgage professionals access to more data fields than ever to enhance...
Market Trends Overview by State
(August 2012 Data, Ranked Worst to Best by Foreclosure Rate--Includes District of Columbia) Rank State Foreclosure Foreclosure REO REO Rate Rate Rate 12 Rate 12 ...
MBA Forecasts Originations to Drop to $1.34 Trillion in 2013
Powered by a stronger-than-expected refi boom this year, the Mortgage Bankers Association (MBA) forecast released at MBA's annual convention anticipates 2012 full-year origination volume coming in at $1.691 trillion. That beats 2011 residential mortgage...
MBA Forecasts Originations to Drop to $1.34 Trillion in 2013
Powered by a stronger-thanexpected refi boom this year, the Mortgage Bankers Association (MBA) forecast released at MBA's annual convention anticipates 2012 full-year origination volume coming in at $1.691 trillion. That beats 2011 residential mortgage...
'Modest Growth' in Construction Predicted for 2013
U.S. construction starts will likely increase 6 percent next year to $483.7 billion, the 2013 Dodge Construction Outlook reported. New construction starts edged up 2 percent in 2010, followed by another i percent gain in 2011, and 2012'S expected...
'Modest Growth' in Construction Predicted for 2013
U.S. construction starts will likely increase 6 percent next year to $483.7 billion, the 2013 Dodge Construction Outlook reported.New construction starts edged up 2 percent in 2010, followed by another 1 percent gain in 2011, and 2012's expected 5 percent...
Month in Review
A week into November, we can now see the initial reaction from the financial markets in response to the results of the presidential election. The stock market sold off considerably as attention shifted to the impending fiscal logjam and its potential...
Mortgage Builder Acquires LXE Software
Southfield, Michigan--based Mortgage Builder Software, a provider of loan origination software (LOS) and loan servicing software (LSS), has acquired Denver-based LXE Software Inc. LXE Software, a provider of customer relationship management (CRM) and...
Mortgage Builder Acquires LXE Software
Southfield, Michigan-based Mortgage Builder Software, a provider of loan origination software (LOS) and loan servicing software (LSS), has acquired Denverbased LXE Software Inc. LXE Software, a provider of customer relationship management (CRM) and product...
Mortgage Performance Analysis Shows Divergent Recovery
Since January 2010, national mortgage delinquencies have declined almost 30 percent, new problem-loan rates are down more than 50 percent and home prices in many markets are on the upswing. In a nutshell, the situation in the mortgage market has markedly...
New Technology Supports Correspondent Lenders
Over the past two decades, the mortgage industry has gone through a massive shift from paper-intensive loan files to electronic documents and automated underwriting. Applying technology to business processes should bring about productivity gains and...
Office, Industrial Sectors Diverge
The industrial sector appears increasingly robust while office sector net absorption slowed and office rents flat-lined in the third quarter, according to Cassidy Turley, Washington, D.C. "The U.S. office sector shifted into lower gear as businesses...
Office, Industrial Sectors Diverge
The industrial sector appears increasingly robust while office sector net absorption slowed and office rents flatlined in the third quarter, according to Cassidy Turley, Washington, D.C."The U.S. office sector shifted into lower gear as businesses became...
People
Amy Brandt has been named president of correspondent lending and servicing, and Sandra E. Bell has been named chief financial officer for Prospect Mortgage LLC in Sherman Oaks, California. Jacqueline B. Amato has been appointed chairman and chief executive...
Post-Election: What Really Changes in the World of Housing Finance?
For months, pundits, stakeholders, policy analysts, journalists and people of all political stripes have been wondering what impact the presidential election would have on the Dodd-Frank Wall Street Reform and Consumer Protection Act and other financial...
Social Media: A New Fair Lending Frontier
The growing use of social media by mortgage lenders carries its own set of fair lending risks.Social media are a huge and growing part of American life. More than two-thirds of adults who go online use social media websites, such as Facebook'M and Twitter®....
Social Media: A New Fair Lending Frontier: The Growing Use of Social Media by Mortgage Lenders Carries Its Own Set of Fair Lending Risks
Social media are a huge and growing part of American life. More than two-thirds of adults who go online use social media websites, such as Facebook[TM] and Twitter[R]. Not surprisingly, lenders are increasingly making use of social media as a tool...
Stonegate-Ahead of Its Time
This Indianapolis-based mortgage company started preparing for the new mortgage market in 2005-well before the industry knew it would be dealing with a radically different market.The word "visionary" often gets tossed around loosely in the business world....
Stonegate Ahead of Its Time: This Indianapolis-Based Mortgage Company Started Preparing for the New Mortgage Market in 2005-Well before the Industry Knew It Would Be Dealing with a Radically Different Market
The word "visionary" often gets tossed around loosely in the business world. But in the mortgage business, the label really does apply to Jim Cutillo. * While many, if not most, mortgage industry executives are still wrestling with legacy issues from...
The Loan Officer Factory Training and Placement Program Launched
A new loan officer development, training and placement program for the mortgage industry was launched by XINNIX, Alpharetta, Georgia, at the Mortgage Bankers Association's (MBA) Annual Concention & Expo in October. Candidates for the program...
The Loan Officer Factory Training and Placement Program Launched
Anew loan officer development, training and placement program for the mortgage industry was launched by XINNIX, Alpharetta, Georgia, at the Mortgage Bankers Association's (MBA) Annual Concention & Expo in October.Candidates for the program (The Loan...
There's No Compliance without Technology
Compliance has been a top concern for lenders and a resounding theme in 2012, and it will continue to challenge mortgage companies in 2013. Compliance is by far the most widely discussed, advised-upon and accommodated-for issue lenders face today....
The Ticker
Company Ticker Price Price 52-Week 52-Week Close Close Symbol 10/31/12 9/28/12 High Low Annaly NLY 16.14 16.84 17.75 15.27 Mortgage Management Inc. Bank...
Top 25 Core-Based Statistical Areas-Sales Price Market Trends
(August 2012 Data, Ranked by Distressed Sales %) Rank Core-Based Short RE0 Sales Short REO Distressed Statistical Sales (Average Sales Sales Sales (REO Area (CBSA) (Average Price) (% of (% of ...
Valuation 2.0
Appraisers are getting sophisticated new tools to bring valuations to a whole new level of accuracy.Over the past five years, the combination of technological change and an unprecedented focus on collateral value has created a great deal of tumult in...
Valuation 2.0: Appraisers Are Getting Sophisticated New Tools to Bring Valuations to a Whole New Level of Accuracy
Over the past five years, the combination of technological change and an unprecedented focus on collateral value has created a great deal of tumult in the financial services industry. For many, this situation was long overdue. But for residential appraisers,...
Variations on Value
Is a property worth what the market will pay? Not in todays housing market.In the early days of the Internet, there was an email joke that circulated among those of us in the mortgage and housing space. It went something like this: There were three or...
Variations on Value: Is a Property Worth What the Market Will Pay? Not in Today's Housing Market
In the early days of the Internet, there was an email joke that circulated among those of us in the mortgage and housing space. It went something like this: There were three or four different views of the same house. The seller's view looked palatial,...
What's Keeping Mortgage Lenders Awake at Night?
One industry insider's "worry list," and what lenders could be doing to sleep better.The mortgage industry is facing a period of extraordinary change in the wake of the subprime meltdown and subsequent recession. As mortgage lenders try to move on, they...
What's Keeping Mortgage Lenders Awake at Night? One Industry Insider's "Worry List," and What Lenders Could Be Doing to Sleep Better
The mortgage industry is facing a period of extraordinary change in the wake of the subprime meltdown and subsequent recession. As mortgage lenders try to move on, they face mountains of new regulation and legislation, as well as a market that has...