Mortgage

WASHINGTON, D.C. - March 30, 2011 - (RealEstateRama) -- Mortgage applications decreased 7.5 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending March 25, 2011.

WASHINGTON, D.C. - March 30, 2011 - (RealEstateRama) -- John A. Courson, President and CEO of the Mortgage Bankers Association (MBA), issued the below statement following today's release of the risk retention proposed rule.

Washington, DC - March 30, 2011 - (RealEstateRama) -- High down payment requirements being proposed by federal regulatory agencies as part of the upcoming rulemaking under the Dodd-Frank Wall Street Reform and Consumer Protection Act will unnecessarily burden homebuyers and significantly impede the economic and housing recovery, according to the National Association of Realtors®

WASHINGTON, D.C. - March 30, 2011 - (RealEstateRama) -- Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev., today issued the following statement on legislative proposals by Congressional leaders to effectively eliminate the role of the GSEs in the U.S. mortgage market:“The National Association of Home Builders strongly supports efforts to modernize the nation’s housing finance system, including reforms to the government sponsored enterprises Fannie Mae and Freddie Mac. We can’t go back to the system that existed before the Great Recession, but it is critical that any reforms be well-conceived, orderly and phased in over time.

WASHINGTON, D.C. - March 29, 2011 - (RealEstateRama) -- Michael D. Berman, CMB, Chairman of the Mortgage Bankers Association, testified today before the Senate Banking Committee at hearing titled, “Public Proposals for the Housing Finance System.”

Washington, DC - March 29, 2011 - (RealEstateRama) -- The Federal Housing Finance Agency today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.79 percent based on loans closed in February. This is an increase of 0.08 percent from the previous month

VIENNA, VA - March 28, 2011 - (RealEstateRama) -- The Financial Crimes Enforcement Network (FinCEN) in its new report, Mortgage Loan Fraud SAR Filings In Fourth Quarter and Calendar Year 2010, today released full year data showing the number of suspicious activity reports involving mortgage loan fraud (MLF SARs) increased 4 percent in 2010 to 70,472 compared with 67,507 MLF SARs filed in 2009. The report also shows that the growth rate of MLF SARs began to slow over the last two to three years. Looking at just the 2010 fourth quarter, filers submitted 18,759 MLF SARs, a 1 percent decrease from the 18,884 filings over the same period in 2009.

DALLAS, TX - March 28, 2011 - (RealEstateRama) -- MRG Document Technologies (MRG), a provider of mortgage document preparation software and compliance technology to banks, credit unions and other lenders nationwide, has successfully completed full lifecycle eNote certification through Xerox Mortgage Services' BlitzDocs® eVault.

March 25, 2011 - (RealEstateRama) -- Mortgage Cadence, LLC, a leading provider of Enterprise Lending Solutions (ELS), Default Servicing Technology and Document Services for the financial services industry, today announced its Cloud-based, Symphony Loan Origination System (LOS), an affordable, on-demand origination solution for lenders of any size. The product fills a current gap within the marketplace by making available enterprise-level power in a pre-configured solution that locks down compliant processes and any lender can implement and put into production in just a few weeks

NEW YORK, N.Y. - March 24, 2011 - (RealEstateRama) -- Mortgage rates marked a slight increase, with the benchmark conforming 30-year fixed mortgage rate rising to 4.96 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.41 discount and origination points.

MIAMI, FL - March 24, 2011 - (RealEstateRama) -- Today Fannie Mae and Neighborhood Housing Services of South Florida (NHSSF) celebrated the one-year anniversary of Fannie Mae's South Florida Mortgage Help Center. Since opening its doors in March 2010, the South Florida Mortgage Help Center has reached out to more than 5,000 South Floridians and worked with more than 1,000 struggling families with loans owned by Fannie Mae. The South Florida Mortgage Help Center was the first of six Help Centers Fannie Mae opened in hard-hit cities across the country. Additional Help Centers are expected to open this year.

Reston, VA - March 23, 2011 - (RealEstateRama) --The U.S. Bankruptcy Court for the District of Wyoming ruled last week in favor of Mortgage Electronic Registration Systems, Inc. (MERS), upholding the company’s ability to take any action required of a lender, including assigning the mortgage

WASHINGTON, D.C. - March 23, 2011 - (RealEstateRama) -- Mortgage applications increased 2.7 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending March 18, 2011.

WASHINGTON, D.C. - March 23, 2011 - (RealEstateRama) WHAT:The Mortgage Bankers Association (MBA) 2011 National Policy ConferenceOn March 30-31, 2011 the real estate finance industry will convene in Washington, D.C. to educate the Administration and the Congress on issues that matter most to our industry. MBA's National Policy Conference 2011 gives attendees the opportunity to speak directly to lawmakers about what they do in their community, as well as the practical effect proposed changes may have on their business and the industry

SAN DIEGO, CA - March 22, 2011 - (RealEstateRama) -- Real Estate Mortgage Network, Inc. (REMN), a national mortgage lender based in River Edge, N.J., is happy to announce today the hiring of Tom Conklin as the company’s western division sales manager. Based in San Diego, Conklin will oversee REMN’s wholesale sales operations as the company continues to grow along the west coast.

WASHINGTON, DC - March 22, 2011 - (RealEstateRama) -- The economy continues to show increasing signs of self-sustaining momentum, however an unexpected jump in oil prices and the potential for further tightening of fiscal policy suggest less economic momentum than previously believed, according to the March 2011 Economic Outlook released today by Fannie Mae's (FNMA/OTC) Economics & Mortgage Market Analysis Group. Projected economic growth for the year was lowered to 3.5 percent — down slightly from 3.7 percent in February 2011, but up from 2.7 percent annual growth in 2010.

WASHINGTON, DC March 21, 2011 - (RealEstateRama) -- Today, the U.S. Department of the Treasury announced that it will begin the orderly wind down of its remaining portfolio of $142 billion in agency-guaranteed mortgage-backed securities (MBS). Starting this month, Treasury plans to sell up to $10 billion in agency-guaranteed MBS per month, subject to market conditions

WASHINGTON, D.C. - March 18, 2011 - (RealEstateRama) -- The operator of a defunct money-making scam has agreed to settle a federal court judgment the Federal Trade Commission obtained against him in 2007 for falsely claiming his “wealth building” program would teach consumers how to make substantial income in a short time by buying and selling privately held mortgages. Under the settlement, John Stefanchik will pay the FTC $900,000 plus the proceeds from the sale of his house and substantially all of his personal property.

Dover, DE - March 17, 2011 - (RealEstateRama) -- Attorney General Beau Biden and bipartisan coalition of legislators unveiled five bills today to respond to the home foreclosure crisis in Delaware and help the economy grow . Recent years have seen a re...

McLean, VA - March 17, 2011 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey®> (PMMS®), which shows the 30-year fixed-rate dropping to 4.76 percent while the 15-year fixed-rate hit its lowest rate at 3.97 percent since December 2010.