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. 74, No. 2, November

'A Civil Rights Issue'
That call to action was uttered by activist BENJAMIN CHAVIS at the Congressional Black Caucus Foundation's 43rd Annual Legislative Conference in late September in Washington, D.C. Chavis is a former executive director of the NAACP and once served as...
APPRAISAL QC: The New GSE Requirements
APPRAISAL QUALITY CONTROL (QC) has always been a hot industry topic and, until now, everyone had a different opinion on the right approach. In light of two recent Fannie Mae announcements, the days of individual interpretations are over. Now we...
Big Banks Nearing Consumer-Relief Targets under AG Settlement
* The top-five largest mortgage servicers are nearing completion of their obligations to provide the consumer relief agreed to as part of the multibillion-dollar National Mortgage Settlement. That was the assertion in a new interim report filed with...
Big Data's Big Potential: Irvine, California-Based CoreLogic Has Come a Long Way since Being Spun off as a Public Company in 2010
It's July 29 at the St. Regis Monarch Beach Hotel, perched high above the California coastline at Dana Point. A woman in a long dress is pushing a large golden harp covered in a red velvet drape on a dolly along the garden pathways of the hotel. A...
California Dominates Forecast for Best-Appreciating Markets
* Santa Ana, California-based Veros Real Estate Solutions released its latest VeroFORECAST for the 12-month period ending Sept. 1, 2014, and four out of the five strongest markets for price appreciation are in California. The company said the report...
CFPB Audits-A Hot Topic
JAN. 10, 2014, IS A DATE THAT LOOMS LARGE for mortgage lenders--because that's when the Consumer Financial Protection Bureau's (CFPB's) Qualified Mortgage/ability-to-repay (QM/ATR) rule goes into effect. The details of that rule, its multiple tweaks,...
Consensus Forecast: Continued Improvement
* The economy--and real estate capital markets--should improve in the coming years, a panel of real estate economists reported in October. The Urban Land Institute (ULI)/Ernst & Young Real Estate Consensus Forecast predicted that gross domestic...
Each Customer Is Unique
LESTER DOMINICK'S PLAN IN 1980 was to establish a consulting firm to assist mortgage lenders with information technology (IT). Prior to that, Dominick was using his certified public accountant (CPA) skills auditing mortgage companies and savings-and-loans...
Fraud from the Fringe: The Sovereign-Citizen Movement and the Rise of Mortgage-Elimination Schemes
You might have seen the Internet or advertising claim: Eliminate your Mortgage--Legally, Ethically and Morally--in as Little as 90 Days. Only $1,499 [paragraph] Every disaster brings fraudsters out of the woodwork. The amount of fraud perpetrated after...
Getting Ready for January
What mortgage industry technology vendors and lenders are saying about upcoming Dodd-Frank Act compliance deadlines. Some are thinking about major compliance deadlines coming in January and wondering how bad will it be. Some fear a possible "train...
Home-Price Spotlight
States Ranked By Percent Decline From Peak Home Prices (July 2013 Data-Includes District of Columbia) Peak % Decline Since Peak 12-Month Month HPI Change ...
Home Prices Up in August amid Signs Momentum Is Fading
* Oxford, Mississippi-based FNC Inc. released its latest FNC Residential Price Index (RPI) on Oct. 15, and the report showed that August was the 18th consecutive month of rising home prices. The index moved 0.6 percent higher in August from the prior...
Loan Rate Monitor
Month in Review Since the the beginning of September, rates for the 30-year fixed have dropped 0.375%, which is already lower than those that were available in July and August. The drop is generally credited to the Federal Reserve's decision to...
Long Time Coming: How a Doc-Prep Company Started by a Tech-Savvy Teenager Blossomed into a Reliable Competitor in Today's Complex Mortgage Compliance Environment
The year was 1986. The New York Mets beat the Boston Red Sox, thanks in large part to Boston first baseman Bill Buckner's blunder in Game 6, to win the World Series (the Mets' last championship to date). [paragraph] Also in the news: the Chernobyl...
Marketrac[R]
Markets with Highest Share of Distressed Sales (July 2013 Data, Ranked Distressed Sales %) Core-Based Statistical Area (CBSA) Short RE0 Sales Short Sales (Average Sales (% ...
Office Sector Improvement Continues
* U.S. businesses continued to fill up vacant office space--slowly--in the third quarter, reported Cassidy Turley, Washington, D.C. "Demand for office space is still subpar but, nevertheless, it has been consistently positive for multiple consecutive...
Playing by the Rules
This past spring, the world's greatest golfers came together at the beautiful Augusta National Golf Club in Augusta, Georgia, for the 2013 Masters Tournament. It was an exciting week-end--but then, I'm a fan. [paragraph] When it was over, Adam Scott...
Population of Refinance-Eligible Borrowers Declines Sharply
* Jacksonville, Florida-based Lender Processing Services Inc. (LPS) announced in its August Mortgage Monitor report that the population of potentially refinance-eligible borrowers declined from roughly 10 million in December to just 5.7 million as...
Property Prices Increase Thanks to Core Commercial
* Property prices increased 1.2 percent in August as core commercial prices rose 1.7 percent and apartment community prices increased 10 basis points, according to Moody's Investors Service and Real Capital Analytics Inc. (RCA), both based in New York....
Purchase Market-Perfect: With New Tools and a New Technology Development Strategy, One Company Is Helping Lenders Prepare for a Resurging Home Purchase Market
There was a time when mortgage technology meant using a fax machine to send out rate sheets. Then there was a time when it meant using a personal computer. Then it meant using the Internet. Next came automated underwriting and online mortgage applications....
REO Dispositions Drive CMBS Delinquencies Lower
* Commercial mortgage-backed securities (CMBS) delinquencies continued their steady improvement in September, driven by large real estate--owned (REO) dispositions, reported Fitch Ratings, New York. CMBS late-pays fell to 6.57 percent in September...
SF Bay Area Home Sales Drop in September
* The number of home sales dropped by 17.1 percent in September compared with August in the nine-county San Francisco Bay Area market, according to DataQuick, La Jolla, California. Even so, sales were up by 3.6 percent from last September. The company...
Taking Notes: The Eminent-Domain Controversy Just Keeps Migrating to City after City. the Latest Stop on the Tour: Richmond, California
Earlier this year, the city of Richmond, California, held the dubious distinction of being particularly hard hit by the housing crisis. The city now has grabbed headlines for another reason: It has gone further than any other governmental body so far...
Telltale Signs Your QC Program Has Problems
With today's increased scrutiny on the internal operations of lender and servicers, it's only natural that the requirements for quality-control (QC) programs have followed suit. [paragraph] Fannie Mae, Freddie Mac and the Department of Housing and...
The Brave New World of Mortgage Servicing
OVER THE PAST SEVERAL YEARS, since the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the various settlements regarding foreclosure practices, the loan servicing industry has been the subject of intense focus, including...
The Fraud File
by Interthinx Interthinx's Fraud Risk Indexes are calculated based on the frequency with which indicators of fraudulent activity are detected in mortgage applications processed by the Interthinx FraudGUARD[R] system, a loan-level fraud-detection...
The Switch
All eyes are on the purchase market to see if it can hold up residential origination volumes in the second half of 2013. The big question is whether purchase lending can buttress the market so the steep drop-off in refinancings doesn't leave lenders...
The Time Is Now
No matter what the market is doing, there will always be circumstances--whether in your professional or personal life--that can affect your business. The key is to remember defining times can create unbelievable opportunity, incredible focus and a...
The Unintended Victim of Regulatory Reform
COMPLIANCE. LENDERS CAN'T GO A DAY without hearing about a new regulation, updated guidance on existing rules or more conflicting information on the interpretation of newly announced rules. Thousands of words have been written about helping lenders...
Two East Coast Metros Stage Big Housing Market Turnarounds
* Waltham, Massachusetts-based Pro Teck Services' Home Value Forecast report released in October highlights two large East Coast metros whose housing markets have staged noteworthy rebounds during the last year. The markets are Newark-Union, NJ-PA...
Vital Statistics
Key Economic Indicators and Interest Rates CONSUMER MBA MORTGAGE PRICES, INTEREST YEAR-OVER- RATES (%) ...
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