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. 63, No. 9, June

A RESPA Reform Road Map. (Legal)
THE WORD STRIKES FEAR INTO LENDERS. It is confusing. It's ambiguous Expert attorneys don't even agree on what it says. The Department of Housing and Urban Development (HUD), which has responsibility for the Real Estate Settlement Procedure Act (RESPA),...
Back to School: A Wide Range of Graduate and Undergraduate Programs in Real Estate Finance Are Being Offered at Universities around the Country. Here's a Rundown of Some of Them. (Education)
EDUCATION HAS ALWAYS BEEN IMPORTANT TO THE REAL ESTATE FINANCE INDUSTRY. Recent years have seen growth in university real estate courses at both the undergraduate and graduate levels. The development of complex funding instruments has provided still...
Calendar or Events
Calendar or Events JUNE 2003 June 9-10: MERS 2003 Annual User Conference, Reston, Virgina [www.mersinc.org] June 11: MBA Presidents Conference, Austin, Texas (members only) June 11: Association...
Cascading Training. (Training)
THE CONCEPT IS SIMPLE AND SEDUCtive. The manager says, "Why should I send 10 people to training? I'll just send Sammy, and when she comes back she can train everybody else." I call this "cascading training." The question is, does it work? And...
CMBS Deals Show Less Diversity, Higher Leverage. (Commercial)
ACCORDING TO NEW YORK-BASED MOODY'S Investors Services' quarterly review of the U.S. commercial mortgage-backed securities (CMBS) market, CMBS 1Q03: Twin Trends of Rising Conduit LTV and Falling Deal Diversity Pose Credit Challenges, CMBS deals in...
CRIIMI MAE Reports $4.3 Million in 1Q Net Income. (Commercial)
CRIIMI MAE INC., ROCKVILLE, MARYLAND, reported net income to common shareholders in the first quarter of 2003 of $4.3 million or $0.28 per diluted share, compared with a net loss of $6.8 million or $0.52 per diluted share for the same period in 2002....
Fairbanks' Primary and Special Servicer Ratings Downgraded. (Business Alert)
MOODY's INVESTORS SERVICE, NEW YORK, has downgraded Salt Lake City--based Fairbanks Capital Corporation's ratings for primary servicer of residential subprime mortgage loans and for special servicer from SQ1 (strong) to SQ4 (below average). The downgrades...
Fishing for Servicing Value: Even Though Rampant Prepayments Have Recently Undermined Valuations for Servicing Rights, There Remain Pockets of Value. Finding Them Takes a Little Fishing around. (Servicing)
CHINESE PHILOSOPHY REGARDS EVERYTHING IN NATURE AND ALL EVENTS IN LIFE AS HAVING RELATIONSHIPS THAT INVOLVE OPPOSING FACTORS. Yang represents everything about the world that is illuminated. Yin represents everything that is dark. Recent focus on interest...
Five MSAS Show Signs of Housing Market Improvement. (Business Alert)
UNITED GUARANTY CORPORATION, GREENSboro, North Carolina, has released second-quarter 2003 mortgage risk factor ratings for the top 200 U.s. metropolitan statistical areas (MSAs). Ratings are from United Guaranty's ACUFactors[SM] mortgage risk index....
Gomez's Top Online Lenders. (Cover Report: Market Leaders/Business Strategies)
Gomez's Scorecard for second-quarter 2003 shows IndyMac Bank regained the overall top score for top online lenders. But Countrywide Financial Corporation beat out IndyMac in some individual categories and came in a close second. THE PRECIPITOUS...
Growth Companies. (Cover Report: Market Leaders/Business Strategies)
We found six companies whose stunning growth sets them apart even against the backdrop of a booming mortgage market. The six are: Home Comings Financial Network, GreenPoint Mortgage, New Century Financial, RBC Mortgage, CitiMortgage and Fifth Third...
Lenders, GSEs Ease Mortgage Forbearance for Military. (Business Alert)
GOVERNMENT-SPONSORED ENTERPRISES (GSEs) Fannie Mae and Freddie Mac, as well as their lender partners, have gone beyond the Soldiers' and Sailors' Civil Relief Act (SSCRA) mandates to further ease the burden on military personnel when they seek special...
Life after HUD. (Spotlight)
AFTER GRANT MITCHELL LEFT THE DEPARTMENT OF HOUSING and Urban Development's (HUD's) general counsel's office in April 1999, a trade newspaper's headline declared of his departure: "Mr. RESPA leaves HUD." Mitchell says he's been living with the moniker,...
Making and Selling Good Loans. (on the Road)
AT THE MORTGAGE BANKERS Association of America's (MB A's) National Secondary Market Conference & Expo in New York in April, attorney Paul Schieber, chairman of the Consumer Services Group at Blank Rome LLP, Philadelphia, drew a connection between...
Marketrac[R]
Marketrac[R] South Residential Lenders--Top 30 Fourth-Quarter 2002 / Sort Order: Total Loan Amount PURCHASE Rank Lender Total Number ...
Mexico's Ambitious Plans. (International)
Mexico's president has big plans for developing the housing and mortgage markets in his country. His plan envisions doubling current levels of housing construction. Here's a primer on the players and the structure of the market. MEXICAN PRESIDENT...
Mortgage Brokers Resist Temptation. (Broker Business)
THIS BUSINESS IS VERY SEDUCTIVE," says Mike Jacinto, president of Fremont, California--based Jacinto Mortgage Group Inc. When low rates are driving business through the door, it's easy to assume that adding staff and doubling the marketing budget will...
Not Exactly Prime: The Secondary Market for Loans Not in Prime Condition Is Growing. Big-Name Wall Street Investment Banking Houses Have Joined Fannie and Freddie as Buyers of Subprime Mortgages. (Subprime)
IN WHAT WAS ONCE THE WILD, WILD WEST, today sit the sovereign cities of Chicago and Denver. In what was once the wild, wild subprime loan market, now toil the staid Wall Street firms of CS First Boston (CSFB) and Morgan Stanley. * The presence of sidewalks...
Risk Management Comes Center Stage-How Safe Is Your ASP? (Executive Essay)
IN THE POST-9/11 WORLD, RISK management has taken on new meaning and new importance--in society, in international relations and in business, too. A sometimes-nebulous term, risk management has been pushed to center-stage, as companies deal not only...
Salaries for Vital Occupations Fall Short of Income Needed for Housing. (Business Alert)
ACCORDING TO NEW NATIONAL DATA FROM THE National Housing Conference (NHC), Washington, D.C., entitled Paycheck to Paycheck: Wages and the Cost of Housing in America, none of America's elementary school teachers, police officers, licensed practical...
Strategic Alliances: Win/Win Opportunities in a Changing Marketplace. (Executive Suite)
TWO YEARS AGO, I SUGGESTED THAT AT the then-current rate of consolidation, the top five mortgage industry players would dominate the market, representing 50 percent to 60 percent of market share. In addition, I stated Countrywide Financial Corporation's...
Stunning Growth. (Portfolio)
WHEN ANGELO MOZILO TALKS, PEOPLE LISTEN. COUNTRYWIDE FINANCIAL Corporation's chairman, chief executive officer and president knows perhaps better than anyone how to grow a company. That's why, when he offers a new prediction about the market share...
Technology Makes Scale Hard to Perceive. (eMortgage)
ONE ARGUMENT COMMONLY advanced about the inevitability of consolidation in mortgage lending is that as information technology usage and reliance grows, the small and midsized lender can't afford to compete. We questioned this industry consolidation...
The Heightened Need to Value Servicing Accurately. (Servicing)
WHAT IS SERVICING WORTH? THIS is a question that has been bandied about for the better part of two decades. This question, however, has taken on new relevance and importance over the last year. The following are three reasons. Servicing trading...
The Ticker
The Ticker Ticker Price Close Price Close Company Symbol 4/30/03 3/31/03 IndyMac Bancorp Inc. NDE 22.28 19.45 Countrywide Financial Corp. CFC ...
Vital Statistics
Vital Statistics MORTGAGE APPLICATIONS INDEXES MORTGAGE BANKERS ASSOCIATION OF AMERICA MARKET COMPOSITES (Unadjusted) Market Purchase Refinance FRM ARM Index Index Index ...
Who's Who in Wholesale 2002. (Cover Report: Market Leaders/Business Strategies)
Last year was a huge one for wholesale and correspondent lending. According to this annual survey of purchased production, Washington Mutual, Seattle, took the top spot with $195 billion in correspondent and broker/wholesale business. But for all 25...
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