purchase subscription

mortgage advertising

news by subject

mortgage newsletter

mortgage feed


mortgage news headlines

news archives

press releases

mortgage graveyard

industry directory

mortgage lawsuits

origination news

mortgage fraud

FHA news

mortgage employment

mortgage statistics

corporate

modification news

mortgage politics

j u m b o news

GSE news

appraisal news

mortgage compliance

net branch

secondary marketing

mortgage servicing

F o r e c l o s u r e N e w s

subprime news

reverse mortgage news

mortgage conferences

conference news

mortgage brokers

mortgage rates

wholesale lenders

M.I. news

regulatory news

mbs news

credit news

public relations

commercial mortgage news

mortgage licenses

mortgage technology

mortgage leads

news by state

mortgage Webinars

predatory lending

mortgage sales

originator tools

mortgage books

mortgage education

mortgage associations

mortgage market index

advertising news

podcasts

archives


SUBSCRIBERS ONLY:

mortgage regulations

net branch directory


ARM index table

FHA resources

f o r e c l o s u r e resources

REIT directory

licensing by state

production by company

servicing portfolios by company


edit subscription

login

edit account

subscription help
or call Carmen at
214.521.1300
contact us

sales blog

mortgage fraud blog

free mortgage news

mortgage news for PDAs, Blackberrys & wireless phones

real estate services

mortgage



CloseNow.com
CloserBlog.com
FraudBlogger.com
mortgage industry news for your handheld computer
free mortgage industry news
Mortgage Industry News | password | free news content | subscription help
www.mortech-inc.com/
HOT Topics: originations | lawsuits | servicing | employment | wholesale | executives | appraisals

Latest U.S. Mortgage News

Last Updated Tuesday, February 09, 2010 08:44 AM Central
Most Read
past 7 days
Mortgage Video News



2009's Biggest Reverse Mortgage Lenders

Reverse mortgage production exceeded 100,000 loans last year, and the biggest lender closed nearly one-fifth of the total. For the third month in a row, the title of biggest lender has changed hands, while the biggest reverse wholesaler relinquished its title. (Feb. 9)

Refis to Drag Down 2010 Originations

A mild decline in purchase financing this year will be overshadowed by a big drop in refinance transactions. (Feb. 8)

Further Deterioration in Jumbo Performance

For the second time in six weeks, a report has been released indicating a deterioration in the performance of jumbo borrowers with prime credit. The latest report predicts that the level of jumbo delinquency will soon cross a milestone. (Feb. 8)

The Mortgage Leads Ledger

Tree.com is attacking an anticipated decline in refinance volume with an increase in originator capacity. Two more firms announced their participation in Google's mortgage lead service, and lead companies are fine-tuning their Internet technology for maximum traffic and conversion rates -- while others are offering free resources to generate prospects. (Feb. 8)

Ditech to Continue Advertising

Ditech has robust advertising plans despite news that it has stopped advertising. But the online lender has changed its operating model. (Feb. 8 updated 11:01 a.m.)

1 Bank, 1 Mortgage Firm Fail

Compared to a week earlier, bank-failure costs were down more than $2 billion. A failed deal between an Illinois bank and a North Carolina mortgage company will impact 100 employees and has the mortgage firm's chief fuming. (Feb. 8)

Recent Mortgage Graveyard activity


3 DC-Area Organizations Add Executives

A mortgage technology group that operates near the nation's capitol named several executives to various posts, while new executives were hired at a public relations firm and a law firm both based in Washington, D.C. Three former agency executives landed in senior posts at service providers, and a company that fixes loan problems has a new technology chief. (Feb. 8)

Recent executive activity at mortgage service providers



Fed Among Banks Making Exec Appointments

Within recent executive activity at U.S. banks was the appointment of the chairman of the country's central bank and two other regulatory appointments. (Feb. 8)

Former NFL Quarterback Joins CA Mortgage Firm

A big mortgage servicing executive was named at Bank of America Corp.'s mortgage unit, while President Barack Obama disclosed his nomination for the chairman of the Federal Agricultural Mortgage Corp. But the most timely appointment -- given Sunday's championship game between the New Orleans Saints and the Indianapolis Colts -- was that of a former professional football player to a California mortgage firm. (Feb. 5)

LendingTree Production Earnings Overtake Leads

Quarterly originations at LendingTree Loans edged higher and were up 30 percent from a year ago. Earnings from loan production now exceed earnings from its lead generation unit even though the average loan amount at the lead unit is up more than a third. (Feb. 5)

Mortgage Job Losses

Mortgage firms trimmed 2,000 positions during December. (Feb. 5)

Federal Ban on Up-Front Mod Fees Proposed

The Obama administration is proposing a ban on fees charged to a borrower before a modification firm obtains a loan modification. (Feb. 4)

Mortgage Activity Falls as 10-Year Yield Down

Mortgage experts predict rates will rise, but a big decline in the stock market today is placing downward pressure on mortgage rates. Meanwhile, loan activity fell this week. (Feb. 4)

Compliance Solutions Address New Rules

As service providers team up to help originators with a complex array of revised mortgage regulations, a new report indicates that investors of residential mortgage-backed securities will see the value of their investments decline as a result of the revisions. One mortgage broker is calling for originators to go a step further than required in disclosing yield spread premiums. (Feb. 4)

MetLife Production Eases

Forward- and reverse-mortgage originations eased during the latest quarter at MetLife Home Loans, while mortgage headcount dropped by nearly 100. (Feb. 4)

GMAC Originations, Losses Rise

GMAC Financial Services was one of only three major mortgage lenders to report an increase in quarterly mortgage production. But just as originations rose, so did losses. (Feb. 4)

Jumbo Leads Overall Lates Higher

Declining performance on jumbo prime mortgages led overall mortgage delinquency higher. (Feb. 3)

GMAC Cuts CA, NC Mortgage Jobs

GMAC Financial Services will move back-office and sales positions out of California and North Carolina, leaving more than 300 displaced workers. (Feb. 3)

Analysis of Latest RESPA Rule FAQs

The U.S. Department of Housing and Urban Development on Jan. 29 issued another version of its frequently asked questions regarding the new Real Estate Settlement Procedures Act rule. The latest version is dated Jan. 28. (Feb. 3)

70 Banks Face Regulatory Orders

Around 70 financial institutions recently faced orders by U.S. bank regulators -- including one against Flagstar Bancorp. (Feb. 3)

Commercial Mortgage Originations Stronger

Quarterly production of loans secured by commercial real estate increased on a quarterly and annual basis. Among lenders, commercial banks led the rise, while the biggest increases were seen among loans secured by health-care properties. (Feb. 3)

Banks Buying Mortgage Firms

Out of three recent mortgage company acquisitions tracked by MortgageDaily.com, two were made by banks. The third acquisition was made by a company that claims to the biggest independent lender in Washington. (Feb. 2)

Bank M&A Ledger

During the past month, the Federal Reserve received two dozen applications to acquire financial institutions. Meanwhile, three other banks are in deals to acquire bank branches, assets and deposits. (Feb. 2)

Service Providers Scooped Up

Several recent acquisitions of mortgage industry service providers include an agency delivery service, a commercial mortgage analysis firm and a mortgage industry public relations firm. Also being acquired is a company that claims to be one of the biggest default service providers. (Feb. 2)

Citi Bringing Back Some Brokers

Citigroup Inc.'s mortgage unit is re-establishing relationships with some of the same brokers it previously stopped doing business with. It's the second time the company has stepped back from an origination channel only to wade in the water again. (Feb. 2)

Bankruptcies Ease

This year started off with decline in consumer bankruptcies. But the head of a bankruptcy trade group warns that this year's activity will exceed the swift pace set last year. (Feb. 2)

Banks Buying Mortgage Firms

Out of three recent mortgage company acquisitions tracked by MortgageDaily.com, two were made by banks. The third acquisition was made by a company that claims to the biggest independent lender in Washington.

Family Choice Mortgage Corp. was acquired by Rockville Bank Mortgage Inc., a news release last month indicated.

Family Choice, which originates residential first mortgages for sale in the secondary market, is reportedly licensed in Connecticut, Massachusetts and Rhode Island. Rockville noted that the acquisition will provide cross-sell opportunities. (Feb. 2)

read full story



HUD Rampage Continues

Following a bloodbath last week when the U.S. Department of Housing and Urban Development announced actions against more than 200 mortgagees, the agency reported five more firms that faced further actions.

The Federal Housing Administration's Mortgagee Review Board withdrew the FHA approval of Strategic Mortgage Corp., according to letter No. 10-019 from HUD today. In addition, a $71,000 civil penalty was issued.

The loss of the company's approval was permanent. (Jan. 25)

read full story



Cities With Highest Foreclosure Rates

A California city saw a decent decline in foreclosures last year, but that wasn't the case in Las Vegas. (Jan. 28)


Huge Losses From Friday's Failures

Six banks that failed Friday are expected to cost the nation's insurance fund for bank deposits more than $2.3 billion. In other Mortgage Graveyard activity, the head of a branch operation is calling it quits for his company and warns that the same fate faces similar firms, while two government lenders that recently faced government actions have halted new business. (Feb. 1)


Best Mortgage Employers

Three mortgage-related firms made the list of the 100 best U.S. employers. (Jan. 25)


Morgan Stanley Chief Recounts Week Music Nearly Died


John Mack, Chairman and Chief Executive officer of Morgan Stanley, talks at Wharton University of Pennsylvania about the week he told his secretary to tell then Federal Reserve Bank of New York president Timothy F. Geithner to "get _ _ _ _ _ _." Morgan Stanley is parent to Saxon Mortgage Services Inc.

The statement was made as he was in intense negotiations over the New York investment banker's survival and in response to pressure by Henry Paulson, who was Treasury secretary at the time, Federal Reserve Board Chairman Ben Bernanke and Geithner -- who now is U.S. Treasury Secretary -- to merge with another firm in an effort to save the global financial system.

But Mack did note that Geithner did "superb job," and the trio did what they had to do given the circumstances.

watch full video







Appraisals

ARM Index Table

Commercial Mortgages

Company Profiles

Compliance

Credit

Employment news

Foreclosure News

FHA

Government Sponsored Enterprises




complete archive of mortgage business news for mortgage bankers

FHA Compliance
Appraisal Management
Nationwide Coverage
Performance Guaranteed
Manage Any Lead
- Get live rate-quotes
- View UW guidelines
- Learn how today
LO Recruiting
New Recruiting eBook
Headhunter 's Secrets
Mortgage Compliance
Free newsletter about mortgage compliance
from AllRegs.
Mortgage Index
Mortgage Market Index
from Mortech Inc. and
MortgageDaily.com.
Patton Boggs
Mortgage banking
newsletter free from
Patton Boggs LLP.
Mortgage Lawsuits
Mortgage lawsuits &
litigation. Settlements
and class actions.
Twitter.com
Follow
MortgageDaily.com
at Twitter.com
Payday Advance
Applying for payday
advance is quick/easy. Imperfect credit ok.
Trading Classes
Premier stock market education firm promotes financial awareness.
Free Credit Report
Mortgage Statistics
Residential & subprime origination, servicing and foreclosure data.
Mortgage Graveyard
Journal of failed, ailing and acquired lenders.
Fraud Blog
Journal of mortgage
fraud cases
Mortgage News Feed
Free mortgage news
feed for RSS readers.
Mortgage Broker News
Free mortgage news for mortgage brokers.
Originator Jobs
Find loan officer
positions at
MortgageBoard.net
www.MortgageDaily.com
Reach Mortgage Executives and Mortgage Brokers


subscribe | mortgage ads | newsletter | mortgage news feed | contact us | about us | privacy | archives | site map

www.MortgageDaily.com
Copyright © 1999 - 2009