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. 70, No. 8, May

50 States by Appreciation Rate
50 States by Appreciation Rate (January 2010 Data, Ranked Worst to Best in Percent Decline from Peak-- Includes District of Columbia) Rank State Peak Month % Decline 12-Month 12-Month ...
A Battle Plan for Buybacks Lenders Are Dealing with a Growing Backlog of Repurchase Demands and Insurance Rescissions. Here's a Blueprint for Defending against This Onslaught
The mortgage dominos keep toppling. First the liquidity crisis, then the default disaster, and now another wave of repurchase requests and rescissions of historic proportions. Recently, the trade press has had weekly articles about the onslaught of...
A Capacity Problem for Special Servicers?
In February 2009, a portfolio of seven office buildings owned by Younan Properties Inc., Woodlands Hills, California, transferred into special servicing, reported Bethesda, Maryland-based CoStar Group Inc.; in October, seven Stamford, Connecticut,...
Agencies Issue Liquidity Risk Guidance
Federal banking agencies and the National Credit Union Administration (NCUA), Alexandria, Virginia, issued new guidance for financial institutions to strengthen liquidity risk-management practices. The Federal Deposit Insurance Corporation (FDIC)...
A New Season
This time of year always makes me think of the kickoff of another baseball season. Spring training is newly over and reports of the next, young-gun pitcher fill the local sports section. It's the time of year when baseball fans gear up for the next...
Back to the Drawing Board
It would be one thing if you could start from scratch to design a new secondary market. Unfortunately, that's not the way it is. So policymakers today are faced with the thorny problem of making real-time changes to a linchpin component of the current...
CBO Analysis of FY 2011 Budget Shows Soaring Deficits
On March 24, the Congressional Budget Office (CBO) released its official analysis of President Obama's fiscal year (FY) 2011 budget, and it projects the administration's budget proposal would increase deficits by $9.8 trillion over 10 years. The...
ClosingCorp Introduces the SmartGFE Service
La Jolla, California-based ClosingCorp has introduced the SmartGFE Service to help lenders comply with new Real Estate Settlement Procedures Act (RESPA) rules. Using the SmartGFE Service--the largest and most comprehensive source for real estate closing...
CMBS Market in Transition: Regulatory and Accounting Changes Give Issuers and Investors Pause, as the Commercial Mortgage-Backed Securities Market Seeks to Stage a Comeback
Although spring is here, the commercial mortgage-backed securities (CMBS) market is not expected to flower anytime soon. What is more likely, according to experts, is that the CMBS market will begin its comeback in earnest during the second half of...
Compliance: Not Just for Origination
Compliance is often thought of as the domain of originators and closers, with the reasoning that if the loan is compliant at underwriting, the servicing department should have little to worry about. Unfortunately, this is not necessarily the case....
DOJ Settlement Holds Wholesaler Liable for Higher Broker Fees on Minorities
The Department of Justice (DOJ) reached a settlement with American International Group Inc.'s subsidiaries (AIG Federal Savings Bank and Wilmington Finance), in which the lender was found liable for the fact that some of its black borrowers were charged...
Dorado Granted Global Rights to First American's Networked Services and eMortgage Technology
Dorado Corporation, San Mateo, California, announced it has been granted worldwide, perpetual, irrevocable, exclusive rights from The First American Corporation, Santa Ana, California, for First American's Web services and eLending technology. Dorado...
Fannie Mae Survey Finds Renters Delaying Plans to Buy
A new national survey of home-buying sentiment released by Fannie Mae, Washington, D.C., finds that nearly a quarter of current renters say they will buy a home later than once planned. And 60 percent of consumers believe that buying a home today is...
'Hidden Brownfields' Could Lower Property Values
Overlooked environmental issues from the past decade could add another burden to banks holding "underwater" commercial mortgages. Derek Ezovski, president of Outsourced Risk Management Solutions LLC, West Hartford, Connecticut, described some environmental...
Home Valuation Code of Consternation
The $460,000 offer was the best of several on the Southern California property. But when the appraisal came in at $425,000, the deal fell apart. A few weeks later, another offer at the same $460,000 price was made by an entirely different buyer. This...
HUD Adopts Final Rule on FHA-Lender Net Worth
The Federal Housing Administration announced the adoption of new regulations significantly raising the net-worth requirements for FHA-approved lenders and making lenders liable for the oversight of mortgage brokers. The new regulations were first proposed...
HUD Bars Two More Lenders from FHA Program
The Department of Housing and Urban Development announced on April 1 that it was permanently stripping the authority of two lenders to participate in the Federal Housing Administration program. Atlanta-based RSA Financial Inc. and Houston-based 1st...
HUD Secretary Says Housing Markets 'Not out of the Woods'
Speaking at the National Policy Conference put on by the Mortgage Bankers Association (MBA) in Washington, D.C., Secretary of Housing and Urban Development (HUD) Shaun Donovan went through a litany of things that had improved in the 15 months since...
Intelenet Joins with SigniaDocs to Provide 'Mods in Minutes'
Intelenet Global Services, New York, a provider of business process outsourcing (BPO) support services for the mortgage banking industry, has partnered with SigniaDocs Inc., Jacksonville, Florida, a national eMortgage solutions provider, to offer a...
Manhattan Sales Activity Returns to More Normal Levels
Increasing sales, stable prices and a shrinking inventory kept apartment levels more consistent with the 10-year average in the Manhattan market, according to Prudential Douglas Elliman Real Estate, New York. Sales prices were lower overall in the...
MCS Launches Broker360
Mortgage Contracting Services (MCS), Tampa, Florida, a nationwide property preservation and inspection services provider to the financial services industry, has launched Broker360, a Web-based portal that allows real estate--owned (REO) brokers to...
Mortgage Applications Indexes; Mortgage Bankers Association (MBA)
Mortgage Applications Indexes Mortgage Bankers Association (MBA) MARKET COMPOSITES (Unadjusted) Market Index Purchase Refinance Index FRM Index ARM Index Index MAR-09 1,016.5...
Mortgage Performance
Top 25 Prime Seriously Delinquent * Metros Metropolitan Statistical Area (MSA) Seriously National Delinquent (SD) % Index 1 Miami, FL 28.28...
MRG Named RegulatorConnect Certified Partner by ComplianceEase
Dallas-based MRG Document Technologies (MRG), a provider of mortgage document preparation and compliance technology to banks, credit unions and other lenders nationwide, announced it has been named a RegulatorConnect Certified Partner by ComplianceEase[R],...
New HAMP Report Card Shows New Trial Mods Decline in March
Tighter documentation rules on the front end prompted the number of new trial modifications started in March to fall to 57,000--down from 72,000 in February, according to the latest Servicer Performance Report released for the Home Affordable Modification...
Office, Retail Fundamentals Weaken in Slow Recovery
Apartment fundamentals improved slightly in the past year, but the same cannot be said for retail and office properties, according to Reis Inc., New York. Apartment properties delivered 20,424 square feet of positive net absorption in the past year...
Origination Leadership Shifts
Knowing which companies currently are hiring mortgage origination teams helps identify tomorrow's loan production leaders. Firms that hunt for executive talent and help arrange mortgage company mergers and acquisitions thus have a unique view of how...
Q&A with Edward DeMarco
Last August, President Obama designated Edward J. DeMarco acting director of the Federal Housing Finance Agency (FHFA)--the regulator of Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. * Prior to August, DeMarco served as chief operating...
Rep. Kanjorski Says Can't Do Away with Fannie, Freddie
The chairman of the House subcommittee with primary oversight responsibility for Fannie Mae and Freddie Mac told attendees of the Mortgage Bankers Association's National Policy Committee in Washington, D.C., "We have to change Fannie and Freddie, but...
Retreat Capital Deploys AnswerMine Technology
Lake Forest, California-based Retreat Capital Management Group, an end-to-end provider of loss-mitigation and portfolio-management products and other services for lenders, servicers, asset managers and investors, has deployed Evanston, Illinois-based...
Sen. Corker Says Risk Retention Could Shut Market Down
Republican Senator Bob Corker (R-Tennessee) told the National Policy Conference held by the Mortgage Bankers Association that the 5 percent risk-retention provision in the Senate Banking Committee financial reform bill has the potential to disrupt...
Slow Progress: HAMP Was a Starting Point for Foreclosure-Prevention Efforts, but Early Design Flaws Hampered It from Delivering Hoped-For Results. Now, after Much HAMP Program Tinkering, Private-Sector Starting to Eclipse It
The Home Affordable Modification Program (HAMP), more than a year after it was introduced in hopes of preventing 3 million to 4 million foreclosures by the end of 2012, continues to evolve in response to continuing criticisms. Many have expressed doubts...
The Importance of a 360-Degree Customer View
Current trends impacting the mortgage industry-show lenders are being bombarded from all angles with increased risk: stagnant unemployment, mounting delinquency and foreclosure, diminishing profit margins. Getting out from under this looming pressure...
The Long and Winding Road to GSE Reform
With the price of the bailout rising and momentum for reform slowing, Fannie Mae and Freddie Mac remain vital to the functioning of the mortgage and housing markets, A framework for a new system is beginning to take shape, at the same time that analysts...
The Ticker
The Ticker Company Ticker Price Close Price Close 52-Week 52-Week Symbol 3/31/10 2/28/10 High Low Fannie Mae FNM 1.05 0.99 2.13 0.51 Freddie Mac FRE...
Tight Credit, Excessive Inventory Slow CRE Recovery, Survey Says
Still-frozen credit and an oversupply of property continue to stall commercial real estate's (CRE's) recovery, said a new survey by Akerman Real Estate, Miami. More than 60 percent of survey respondents said private equity will mostly finance this...
Top 25 Core-Based Statistical Areas-Combined REO + Short Sales
Top 25 Core-Based Statistical Areas--Combined REO + Short Sales (January 2010 Data, Ranked by REO + Short Sales--Percentage of all Sales) Rank CBSA Total Count New-Home ...
Traditional Due Diligence Is Dead
The industry is abuzz over which industry participants are best suited to shoulder the appropriate level of risk to ensure quality loan products are originated in a responsible manner. There are many new ideas that attempt to restore faith in the private-label...
U.S. Bank Failures Spread Wider, Trepp Says
Weakening commercial real estate and construction loans continue to drive bank failures, according to Trepp LLC, New York. Trepp's April delinquency report said the highest concentration of at-risk banks are in the boom/bust markets of Florida,...
Wainwright Bank Selects MortgageFlex Lending System
Jacksonville, Florida-based MortgageFlex Systems Inc., a provider of lending and servicing solutions, has been selected by Wainwright Bank & Trust Co., Boston, to provide a technology system for the institution's residential and consumer lending...
Wells Fargo Implements First American CoreLogic's Fraud-Detection Solution
First American CoreLogic, Santa Ana, California, announced that Wells Fargo Home Mortgage, Des Moines, Iowa, is implementing First American CoreLogic's LoanSafe[R] Fraud Manager. LoanSafe Fraud Manager is an advanced fraud-prevention technology...
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