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. 3, December

Acquisitive Secondary Firms Take Fresh Look at Technology
The news this fall that several Wall Street firms were buying up nonprime lenders was yet another indicator of a significant shift away from the previously strong separation between the primary and secondary sides of the mortgage business. Earlier,...
An eDoc Duo: Two Players in the Electronic Document Delivery Space Have Found Each Other, and the Marriage Looks Promising. eLynx Acquired SwiftView to Create a Complementary New Company to Serve Both Large and Small Mortgage Lenders
After 25 years of entrepreneurship, John Corrigan and Randy Prakken had come to a turning point in their lives. The partnership they founded back in 1981 had eventually evolved into SwiftView Inc., the Portland, Oregon-based electronic document view,...
An Upbeat Outlook for 2007
"It's always a great time to buy a home" is a truism that real estate agents rely on to keep their buyers eager. Yet it's been supported by results. Researchers say that throughout America's history, house prices on average have risen 1 percent to...
A Rising Star in Flagstar: This Regional Bank Became a National Powerhouse by Harnessing Technology
Technology has long been a friend to mortgage bankers. In good times, when the market provides long lines of borrowers eager to refinance or buy new homes, technology offers the lender scale. When times are slow, technology helps lenders increase efficiencies...
Big Consolidation Wave in the Industry
Everyone wants to know what the new year will have in store for the American mortgage market, and, it seems, an equal number seem to have an opinion on the matter. However, if any one group has the credentials to give at least a credible prediction,...
CBRE Acquires Trammell Crow
Los Angeles-based CB Richard Ellis Group Inc. (CBRE) has entered into a definitive agreement to acquire Trammell Crow Co., Dallas. The transaction is valued at approximately $2.2 billion, including the assumption of Trammell Crow Co.'s corporate...
CitiMortgage on the Move: CitiMortgage Is Taking Market Share Away from Competitors in the Wake of Its Merger with CitiFinancial
Make the trend your friend. That bit of advice is something one hears more often these days in the mortgage banking business. That's because recently the trend has been almost nobody's friend. Indeed, the news in the industry is being dominated by...
Defining Project Success
Whether you're implementing new technology or new processes, changing the way you do business or altering the company culture, there are expectations among your team members, stakeholders and sponsors. But do they share the same expectations? One...
Economy Poised for 'Soft Landing' as Originations Forecast to Drop
Look for a "soft landing" as economic conditions are expected to continue slowing through the rest of 2006 but should return to near normal growth during 2007 and 2008, according to the Mortgage Bankers Association. MBA's forecast, released at the...
Family Lending Services Taps Mortgage Cadence's ELS
Mortgage Cadence Inc., Greenwood Village, Colorado, has been selected by Family Lending Services, Irvine, California, a wholly owned subsidiary of Standard Pacific Corporation, also based in Irvine, California. Family Lending Services averages 5,000...
First-Half 2006 First, Subprime Originations Down, Nontraditional Volume Up
Origination volume for both first and subprime mortgages declined during the first half of 2006, while nontraditional mortgage volumes rose during the same period, according to two surveys by the Mortgage Bankers Association. MBA's Midyear 2006...
Freddie Mac Deepens IT Talent Pool
Look for Freddie Mac, McLean, Virginia, to continue its efforts to deepen its bench of information technology (IT) talent even as the company casts its recruiting line in talent pools well beyond its Washington, D.C., Beltway headquarters. For the...
Freddie Mac Tweaks Seller/Servicer Guide
Freddie Mac announced it is changing its Seller/Servicer Guide to help lenders accommodate the uncertainties of new construction and renovation work schedules when they finance permanent mortgages on single-family new construction and the renovation...
Ginnie Mae to Securitize Reverse Mortgages
Seeking to offer a new mortgage product while catering to the growing demographic of aging homeowners, the Government National Mortgage Association (Ginnie Mae) announced it will begin securitizing reverse mortgages. Ginnie Mae's Home Equity Conversion...
'Global Gateways' Are Top Markets for Real Estate Investment in 2007
A survey conducted by the Urban Land Institute (ULI), Washington, D.C., and PricewaterhouseCoopers LLP, New York, has concluded that the "global gateway" metropolitan areas of New York; Washington, D.C.; Los Angeles; Seattle; and San Francisco rank...
Hotel Supply-Side Forecast Lowered, but Revenues Should Rise in 2007
Look for the number of new hotel openings in 2007 to be lower than previously expected. The downward revision could translate into a silver lining of profit and record-breaking revenue, according to Portsmouth, New Hampshire--based Lodging Econometrics...
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 OCT-05 2,046 1,759 287 2,131 1,798 333 NOV-05...
ILOG, Tavant Technologies Partner on Mortgage Lending Solutions
ILOG[R], Mountain View, California, and Tavant Technologies, Santa Clara, California, announced their agreement to partner on mortgage lending solutions. Tavant will leverage ILOG JRules[TM], a key offering in ILOG's business-rule management system...
Irwin Kellner, Chief Economist, North Fork Bancorporation and MarketWatch.Com
Given that he holds down three different jobs, Irwin Kellner might fairly be able to claim the title as the hardest-working economist in business. Kellner holds the Augustus B. Weller Distinguished Chair of Economics at Hofstra University, Hempstead,...
Is the World Really Flat, Tom?
This past August, I attended Stamford, Connecticut-based Gartner Inc.'s Gartner Financial Services Technology Summit at the Boston Marriott Copley Place. As is always the case, Gartner put on a jam-packed three-day exploration of the state of information...
Key Economic Indicators and Interest Rates
CONSUMER PRICES, YEAR-OVER-YEAR CHANGE (%) MBA MORTGAGE CHANGE IN ALL ITEMS INTEREST RATES (%) PAYROLL...
Low.com Launches LiveChat, Spanish-Language Consumer Web Site
Los Angeles-based Low.com has launched two new offerings: A fully developed Spanish-language Web site and a real-time, Web-based customer-support chat interface called LiveChat. Both features are targeted at improving the number of potential consumers...
Making Connections in the Windy City
"Influence the Future--Define New Directions," the theme of the Mortgage Bankers Association's (MBA's) 93rd Annual Convention in Chicago, took on new meaning as the mortgage banking industry continues to adjust and consolidate. This convention had...
MISMO and the U.S. Government Join Forces
At the Mortgage Bankers Association's (MBA's) Annual Convention in October, MISMO[R] and Ginnie Mae announced an alliance agreement. We are very pleased about this agreement on multiple levels--it's a win-win-win alliance agreement for Ginnie Mae and...
MORTECH Shows Lenders Ramping Up Tech Investment
Despite expectations of lower earnings next year, mortgage lenders said they intend to spend 8 percent more on technology than they did in the previous year, according to a survey by Guilford, Connecticut-based MORTECH LLC. MORTECH 2006, the company's...
Mortgage Applications Indexes: Mortgage Bankers Association (MBA)
MARKET COMPOSITES (Unadjusted) Market Purchase Refinance Index Index Index FRM Index ARM Index OCT-05 653.1 435.7 1,917.7 482.9 4,215.8 NOV-05 540.7 377.7 1,488.5 381.6...
Mortgage Resets, Disclosure Debate to Make for 'Interesting' 2007
Expect a "fairly tough correction" for the mortgage market in 2007--but it could be an even tougher year for lenders if the industry doesn't reach a consensus on better consumer disclosure for complex loan products, concluded a panel of lending executives...
Moving the Paper Mountain
Information technology (IT) professionals observing the mortgage lending industry for the first time are often amazed at the mountains of paper documents and the lengthy processing time. New mortgage IT firms are often founded following a technologist's...
Navigating the Obstacles: Certified E-Mail
According to the most recent intelligence report from anti-spam service provider and virus researcher MessageLabs Ltd., New York, unwanted e-mail will account for more than 60 percent of all e-mails sent in 2006. Another sobering statistic: Phishing...
Number, Not Behavior, of Boomers Driving Second-Home Market
Look for the baby-boom generation to drive the future growth of second-home mortgage market activity--but only because there are more baby boomers who own these properties compared with their parents' generation and not due to any significantly different...
OCC Finds Looser Commercial Underwriting Standards
Competitive pressures within the mortgage lending industry have led to a continued easing of commercial and retail credit underwriting standards for the third consecutive year, according to a survey by the Office of the Comptroller of the Currency...
Online Trends in the Mortgage Industry, 2006-2007
In thinking about what to write about online lending, it seemed to me that the more interesting focus is to look beyond just online retail origination. I believe we should consider the big picture of how our entire industry uses the Web, to examine...
Patents: Help or Hindrance?
As I sat in the witness stand, I started to realize just how difficult my task had become. I had been hired by the defendant in a patent-infringement lawsuit to be the leading expert witness. It was a case involving a fairly basic online mortgage technology...
Prudential Approved to Offer Freddie Mac Affordable Multifamily Loans
Prudential Mortgage Capital Co., Newark, New Jersey, announced that Freddie Mac has given the company approval to originate targeted affordable multifamily loans nationally on Freddie Mac's behalf. The new authority, granted to the Prudential Affordable...
South Residential Lenders-Top 25
First-Half 2006 / Sort Order: Total Loan Amount PURCHASE Share Number of of $ Rank...
Technobabble
This month we've got some real winners in the category of abused and misused mortgage technology terms. Taking top honors is "end-to-end," which apparently is being tossed about so much and so inaccurately it has some Technobabble readers annoyed....
The Fraud File
Interthinx's Top 10 Hot Spots for possible mortgage fraud are derived from an analysis of all loan application data submitted to the Interthinx fraud-detection and fraud-prevention tools in the third quarter of 2006. Of all the loans submitted to Interthinx...
The Information-Security Challenge: The Mortgage Bankers Association Recently Issued a Comprehensive Study of Mortgage Industry Information-Security Requirements. the Study Also Outlines a Five-Step Model for Information Assurance That's Tailored to Residential and Commercial Lenders' Compliance Needs
Whatever happened to the vision of the easy exchange of information in the 21st century? The Internet was presented as the stage for a new business model where customers, employees and partners would drive business to new heights by communicating via...
The LOS Marketplace: It's Unlike Any Technology Offering-Or Market, for That Matter. LOS Veterans Discuss the First 20 Years
Technology development is a tough business, regardless of the industry you're trying to serve. When your market is pathologically risk-averse and spends about one-tenth as much as most others on automation, the game gets that much tougher. And yet,...
The Next Generation of Lead Generation: As Mortgage Consumers Get Increasingly Comfortable with the Web, Lenders Are Learning How to Make the Most of Online Leads. in the Process, Some Mistaken Notions about Online Lead Generation Are Being Dispelled
It's clear that consumers like the speed, convenience and efficiency of shopping for mortgages online. [??] The number of consumers turning to the Internet to research mortgages surged 17 percent in the past two years, according to a recent report...
The Right Product Mix: How Do Smaller Mortgage Bankers Offer the Right Set of Loan Products for Today's Markets? Here Are Some Tips from Lenders around the Country
Small and midsized mortgage banking companies, competing against giant firms in a market with hundreds of nonconventional mortgage products, are using close community ties to find a widening range of borrowers for an expanding line of mortgages. These...
The Ticker
Price Price Ticker Close Close 52-Week 52-Week Company Symbol 10/31/06 9/30/06 High Low Indymac Bancorp Inc. NDE 45.45 41.16 ...
Top 25 Counties-Purchase Markets
First-Half 2006, Nationwide / Sort Order: Number of Loans Market Avg. Rank County Count Dollar Amount Share Amount 1 LOS ANGELES, CA 99,319 $30,418,461,180...
Top 25 Counties-Refinance Markets
First-Half 2006, Nationwide / Sort Order: Number of Loans Market Avg. Rank County Count Dollar Amount Share Amount 1 LOS ANGELES, CA 245,061 $60,572,819,980...
Twelve Myths about Online Lending: A Leading Player in Online Lending Technology Reports Lingering Myths Obscure the Major Progress Being Made in Online Lending
No one really knows how much of today's retail mortgage business is done online. On occasion a research firm will hazard a guess, but these are rough estimates at best. Although we cannot be sure of the absolute volume of loans originated online, we...
Under Wall Street Ownership: A Growing Number of Wall Street Investment Banks and Other Active Issuers of Mortgage-Backed Securities Are Becoming Direct Owners of Mortgage Originators. Is This a Lasting Trend?
Is Wall Street taking over the mortgage origination business? A glance at this year's mortgage industry headlines could leave one with that impression. [??] A slew of deals involving Wall Street investment-banking firms buying mortgage originators...
Web Trends
Early reports that the Web would entirely replace brick-and-mortar retail lending offices, as well as mortgage brokers, proved wildly inaccurate. We are all well aware of this. But now is a good time to revisit what the Web has accomplished since it...
Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.