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Most Technologically Innovative Mortgage-Related Companies
A company known more for its credit card lending than its mortgage lending has been ranked as a leader in innovative technology.
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Scandal's Effect on Mortgage Rates
Fannie Mae's accounting problems have touched off concerns about a spike in mortgage rates.
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Soccer Match Between Insurer, Lender Leads to Broken Jaw, Lawsuit
A friendly soccer game between a large insurance company and a mortgage lender turned to into a scuffle between a loan consultant and an insurance worker, with one of them carried off to a hospital.
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Foreigners Play Big Role in U.S. Housing Debt
The growing foreign appetite for U.S. debt has translates to continued economic expansion here while also tying America's future fortunes to events around the globe.
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More to Mortgage Automation Than Technology
Remember the old children's joke that asks: When is a door not a door? When it's ajar. Fun play on words -- okay, corny too -- but more than that it's a challenge for definition; clarity really.
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Report Names Players in Scandal
A 211 page report from Fannie Mae's regulator provides some interesting details about who played a roll in the company's current accounting scandal.
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ABN AMRO Production Breaks Even
ABN AMRO Mortgage Group Inc. halted its declining trend in mortgage production but couldn't come up with a gain. The company is optimistic, however, about fundings in the upcoming months.
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U.S. Bank to Add 700 Mortgage Jobs
With industrywide production substantially below the record levels reached last year, many careers in the mortgage industry have been cut short. But Minnesota-based U.S. Bank sees opportunity in the current pool of people looking for mortgage jobs.
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CA Mortgage Regulator In Hot Seat
A top California regulator of mortgage brokers has drawn the scrutiny of The Terminator.
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Wealthiest People in Mortgage Lending
The latest ranking of wealthy Americans has the mortgage industry sporting a few billionaires.
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Falling Rates Push Refis Higher
More homeowners refinanced their loans as rates slipped. However, an industry giant forecasts the 30-year fixed rate next quarter to increase about 20 BPS, but in the meantime, mortgage shoppers still have time to lock in on the current low rates as one economist does not see them moving much anytime
soon.
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Subprime Coalition Moves to Reign In Predatory Players
Subprime lenders have formulated a legislative plan they say will increase consumer protection in a larger number of subprime mortgages and push a uniform national anti-predatory standard.
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Purchases Off at Freddie
In line with its secondary sister, Freddie Mac reported decreased business purchases for the second month in a row.
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Former Owners of Bankrupt Subprime Lender in Trouble Again
Two of the most notorious figures from the 1980s saving-and-loan scandal -- a husband and wife who are the former operators of a mortgage company -- are once again facing legal problems.
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Servicing Portfolio Sales
While a Texas mortgage banker will sell its third party servicing portfolio as part of a continued effort to reposition origination activities, a franchise conglomerate might sell a portion of its subsidiary's portfolio to start the process of divesting its mortgage business.
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Labor Dept. Fines Mortgage Banker Over Unpaid Immigrant Salaries
The government has accused a New Jersey mortgage banker of failing to pay foreign workers over half a million dollars in required wages. But the company's president said the employees have been compensated as originally agreed.
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ACORN, Citigroup Become Partners
As ACORN goes after institutions it accuses of predatory lending such as Wells Fargo, it has formed an alliance to increase homeownership with a major New York-based bank that was previously involved in one of the largest consumer protection settlements.
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Company Looks to Mortgages for Profitability
For Maryland-based Aether Systems, the wireless business is out and mortgage-
based securities are in.
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Fannie's August Off
Business was off for the second consecutive month at the nation's largest secondary mortgage lender.
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S&P Cuts Coverage of Some High Cost MA Loans
Residential mortgage backed securities that include high cost Massachusetts loans will no longer be reviewed by one of the country's major ratings agencies. However, one group of mortgage originators is excepted from the pronouncement.
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BoA Unit Names New President
One of the nation's biggest banks has a new chief overseeing its mortgage-banking activities.
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Mortgage Monopoly
The pace of mergers and acquisitions in the mortgage industry is unrelenting, with more transactions announced last week.
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Billions in Mortgage Fraud, FBI Says
Organized crime has taken on a new face, and it's not that of mobsters with names like "Sammy the Bull."
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Saxon to Add 234 Virginia Jobs
Hundreds of new jobs will become available next year when a subprime mortgage lender that is in the process of converting to a REIT finishes constructing a new Virginia facility.
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Freddie Forecasts 5.9% 30-Year Next Quarter
While the recent holiday stumped mortgage activity, long-and short-term rates moved in opposite directions in anticipation of the Fed's next move. And one organization has the average 30-year pegged under six percent next quarter.
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Controversial Refis Land Company in Hot Water
The state of Michigan has issued a Cease and Desist Order against a company it accuses, among other things, of falsely submitting purchase transactions as refinances.
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A Closer Look at Subprime Unit's Closure
At a time when subprime mortgage lending is thriving, National City's decision to close PCFS Mortgage seems somewhat baffling. But as the banking giant grows, it is moving away from the subprime business, says an equity analyst who follows the company.
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Predatory Laws Hurt North Carolinians, MBA Says
Although anti-predatory lending laws are designed to protect consumers, the findings from a recent study done by an industry trade group indicate this type of legislation actually hurts minority and low-income borrowers. The study showed subprime lending decreased for one state that enacted legislation while, during the same period, subprime originations in other comparable states without anti-predatory laws increased.
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SEC Takes Action Against PA Mortgage Firm Principals
The government has barred 5 individuals from the securities industry because they sold securities that were not registered then spent the proceeds instead of investing in the growth of their mortgage company. But a court order requiring the individuals to repay more than $600,000 was waived because they couldn't afford it.
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Loan Denial Leads to Ameriquest Lawsuit
Christine Baker is the proverbial David taking on the perennial
giant.
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Bank One Cuts Milwaukee Jobs
Bank One has reduced its mortgage staff in Wisconsin. But unlike many of the industry's layoffs that were driven by falling originations, the recently acquired company said the collection positions were eliminated because of improved defaults.
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Mortgage Co Loses Securities Registration
The SEC revoked the securities registration of a Utah mortgage company for failing to periodically file updates of the securities.
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Upcharging Lawsuit Reinstated Against Wells
Homeowners who sued California-based Wells Fargo & Co. in a dispute over fees are getting a new day in court.
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National City Fundings Off
National City Corp.'s summer production is in a slump -- and suggests third quarter activity will fall from the prior.
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Nonprime Hurricane Shows No Signs of Weakening
There may be uncertainty in some lending quarters, but in the nonprime sector of the American mortgage market all signs point to growth as far as the eye can see. This expansion will add to an already amazing success story that has been taking place in nonprime over the last eight years.
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Rural Predatory Lending
Rural homeowners are much more likely than their urban counterparts to be placed in subprime mortgage loans with abusive prepayment penalties, according to a new study.
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Awesome August at Countrywide
Once again, Countrywide Financial Corp. racked up record originations for its non-refinance fundings while increasing its overall volume from the prior month. And in the process, its servicing portfolio inched closer to $1 trillion.
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Mortgage Merger Mania
Consolidations continue in the real estate finance industry as several more mergers and acquisitions are either in the works or recently closed.
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30-year to Average 5.90% Through End of Year
Mortgage activity picked up, while rates nudged up in response to employment news. Although rates are expected to continue upward, long-term rates may be a lot lower than previously expected as an industry giant revised its outlook for the 30-year average next quarter by nearly half a percentage point.
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Purchase Originations Should Stay Strong Despite Homebuilding Materials Shortage
Economists are mixed on the impact a building materials shortage will have on the mortgage industry.
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Delinquency Rise Due to Worsening 30-Day Accounts
While fewer borrowers fell into foreclosure during the second quarter, residential mortgage delinquencies inched up. But late payments in the subprime sector improved.
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Countrywide May Add 2,500 AZ Jobs
In an effort to find a friendlier business climate and double its staff, Countrywide Financial Corp. announced it may expand its space in the Grand Canyon State and add thousands of mortgage jobs in the process.
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New Century Volume Dips Again
Production slipped for the second consecutive month at the fastest growing mortgage company.
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Mortgage Exec Tops Golf Ranking
Some of the best years in mortgage originations have apparently left their mark on the golfing world, as a mortgage industry executive now tops one of Golf Digest's rankings of best golfers. But Vijay Singh has nothing to worry about.
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Fastest Growing Mortgage Companies
Several mortgage-related entities made Fortune's latest list of the 100 Fastest-Growing Companies -- and a subprime lender led the pack.
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Mortgage Jobs Fall
Defying a five-month growth trend, mortgage industry layoffs appear to have kicked in as the government's latest employment report showed there were less people working in the sector.
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Rates Dip, Apps Poised to Rise
Long term rates fell to the lowest level in five months on fear that consumer spending will slow. While the employment report will shed light on the pace economic growth will take and what rates will do this coming week, mortgage activity may also awake from its dormant pace.
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Mortgage Apps Most Confusing Form Americans Use
Sifting through instructions about how to file income taxes or medical claims can be confusing tasks. But one recent study said it is the mortgage loan application that presents the most difficulty to Americans.
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COFI Continues Climbing
The West coast index for adjustable-rate mortgages increased again.
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ABN AMRO Shows Mercy to Soldier
While U.S. Army reservist Sgt. Yyvette Nicole Curry was taking care of wounded soldiers in Iraq, her life in America was falling apart and she was close to losing her home.
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FTC Goes After Secondary Scam
Invest $8,000 now and earn $10,000 every month by trading mortgages. The pitch sounded too good to be true, and it was.
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ABN AMRO Fundings Slip Again
July mortgage production marked the third consecutive month of descending activity for ABN AMRO Mortgage Group Inc.
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news about mortgage crimes

Georgia Tops Latest MARI Fraud Ranking
The prestigious award for the state with the most fraud goes to Georgia. And while no state would be proud to be near the top of this list from mortgage fraud prevention provider MARI, the silver state gets the silver medal.
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Billions in Mortgage Fraud, FBI Says
Organized crime has taken on a new face, and it's not that of mobsters with names like "Sammy the Bull."
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Cincinnati Fraud Ring Broken Up
Five people, including a retired teacher, have been snagged by federal authorities in a Cincinnati real estate flipping ring that bled investors of more than $7 million.
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Fraud Used to Obtain Mortgage License
While there is no shortage of mortgage loan originators willing to use fraud to get a loan closed, one Arkansas loan officer used fraud on his application for a mortgage license -- and subsequently lost it when the state uncovered his criminal past.
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stories for loan originators

How to Turn More Web Site Visitors Into Closed Loans
With more prospective borrowers applying for a mortgage over the phone or in person than online, a new study provides insight about what industry players need to do in order to turn more online visitors into mortgage customers.
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Mortgage Marketing With Today's Media
Customers are frustrated. In today's multimedia world, they are flooded everyday with hundreds, even thousands, of competing messages. Email inboxes overflow with generic advertising while mail boxes fill with irrelevant direct mail pieces. Many customers -- on both the retail and the wholesale side -- have tuned out. This is especially true for the mortgage industry.
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Effective Newsletters Generate Leads
While sending a newsletter can be an effective marketing tool in generating mortgage leads, the content of your newsletter depends on who you send it to and how you send it.
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