home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Mortgage Leads | Lead Directory
Loan leads for originators, brokers and loan officers. News about lead companies that provide exclusive refinance leads. Stories about mortgage lead generation techniques.


Mortgage Legend Backs Internet Lead Co.

Lew Ranieri invests in Root Markets

January 30, 2006

By PATRICK CROWLEY


The father of mortgage-backed securities has thrown some of his millions at an Internet mortgage lead generating company.

Lew Ranieri, considered the father of mortgage-backed securities, has joined Root Markets, a New York-based online marketing and advertising firm that provides leads on mortgages and other financial services.

Ranieri, who could not be reached to comment, has reportedly invested $5 million of the fortune he made on Wall Street in the Internet startup company.

"As you might know, in the 1980s, as Salomon Brothers' head of mortgage trading, Ranieri created the trillion dollar mortgage-backed securities market," Root Markets said in a statement. "Ranieri has teamed with Internet advertising pioneer Seth Goldstein ... to create Root Markets, which applies the transparency of a traditional financial exchange ... to the emerging market of lead generation."

Root Markets, which was founded last year, recently purchased Lead Filter, a lead exchange Web site and service for the mortgage industry.

"Lead Filter connects many of the leading lenders to several of the top lead generation sources," Root Markets said in a statement. "The platform easily allows lenders to test across multiple lead sources and consolidated accounting, while offering analytical tools for optimization of their lead buying programs."

Root Markets is making its first major foray into the mortgage industry. The company will collect information on consumers that click on to ads, commercial Web site and other places on the Internet.

That will allow the company to bundle leads of people looking to buy or sell a house. Those leads will be sold to mortgage brokers or lenders.

Consumers can also make their information available via Root Markets if they are interested in being contacted by a broker or lender and want to shop around for the best deals.

"By creating a more efficient Internet lead generation marketplace with transparent pricing and explicit consumer permission, Root Markets has an opportunity similar to that which I saw on Wall Street more than 20 years ago in the mortgage market prior to securitization," Ranieri, who is the company's executive chairman, said in the statement.

Ranieri, a Brooklyn native and college dropout, was working in the mail room at Salomon Brothers, a Wall Street investment giant, before eventually working his way on to the bond trading desk in the 1970s.

There he pioneered and even coined the term "securitization," the process of converting home loans into bonds. The bonds pooled thousands of mortgages, spreading the risk while creating a new investment vehicle. Investors made money on the homeowners' payments.

His exploits were chronicled in Liar's Poker, an insightful and at times irreverent book that looked into Salomon's bond trading desk.

"Lewis Ranieri ... is generally considered to be the 'father' of the securitized mortgage market," according to The Milken Institute, where Ranieri delivered a speech last year. "Ranieri helped develop the capital markets as a source of funds for housing and commercial real estate, established Salomon's leadership position in the mortgage-backed securities area and led the effort to obtain federal legislation to support and build the mortgage and capital markets."


Patrick Crowley is a feature journalist and blogger for MortgageDaily.com. He is also a reporter, blogger and columnist for The Cincinnati Enquirer.
e-mail Patrick at: [email protected]

Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders