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Issue Number 102, November 30, 1999

Main Mortgage Stories
Mortgage Technology
Arms From Countrywide, Greenpoint Only Go Down

Note rates at a slight premium; Countrywide to charge 2.5% fee to exercise lower rate

AmericanBanker.com November 30

Federal Home Loan Bank of San Francisco Releases October 1999 Cost of Funds Index

COFI index at 4.666% for October 1999, up from 4.608% in September

BusinessWire.com November 30

2000 Brings Slow Growth to Construction Industry, According To Industry Survey

Forecast Reveals Interesting Trends in Revenues, Labor, and Financing

AOL.com November 30

UK house price inflation hits 10-yr high - Nationwide

GO.com November 30

B.C. regulators find mortgage firm guilty of fraud

British Columbia, Canada

Individual.com November 29

EXISTING HOME SALES DECLINE IN OCTOBER, BUT RECORD YEAR STILL LIKELY

Realtor Association report for October

Realtor.com November 29

Home Sales Up 7.8 Percent, Median Price Rose 11.9 Percent in October, C.A.R. Reports

California Association of Realtors report

Individual.com November 29

GMAC-RFC Increases Warehouse Lending Capacity With Major Players Exiting the Business, GMAC-RFC Continues to Approve New Warehouse Lines

StarTribune.com November 22

GreenPoint Introduces a No-Downpayment Mortgage

LTV up to 103%

PRNewswire.com November 22

Joint CIMBL-CMHC Research Project Reveals Trends in Mortgage-Consumer Behavior

Canadian public perceptions survey of the residential mortgage industry will be revealed November 19 at the annual conference of the Canadian Institute of Mortgage Brokers and Lenders

CBSNews.com November 19

MortgageDaily.com Publishes 100th Issue

Online news service for mortgage professionals started in June

MortgageDaily.com November 16

US Home Values Increase by 7 Percent in the Third Quarter, First American RES Reports

Major metropolitan areas of California as well as Denver, Minneapolis, Boston and Chicago have shown gains
above 10 %

PRNewswire.com November 16

BRIDGE SURVEY: US Oct housing starts seen down on higher rates

Forecasts by major financial institutions

CBSNews.com November 16

Housing Market Index Rises Five Points in November

Report by National Association of Home Builders' indicates best conditions since June

PRNewswire.com November 16

Prez Loan Legit, Bank Probe Finds

Former independent counsel hired by PNC Mortgage Corp determined that Clinton received market terms

NYDailyNews.com November 12

MORTGAGE INDUSTRY STRIVING TO MAKE LOAN APPLICATION MORE EFFICIENT

Mortgage panel discussion at NAR convention

Realtor.com November 12

Housing Market Slowing to More Sustainable Level

Dr. James F. Smith, NAR's chief economist, speaks about interest rates at associations's annual conference in Orlando

PRNewswire.com November 12

Clinton Seeks Delay On Suit Probing Mortgage

Judicial Watch filed suit to rescind mortgage alleging president got better than market terms from lender

NYDailyNews.com November 12

Apex Mortgage Capital Reports Record Earnings

Net income for the quarter ended 9-30-99 up 55% over the same period last year for the California REIT

PRNewswire.com November 11

Fannie Mae Exec Chair Sees Homeownership Rate Above 70%

Former CEO of FNMA says lender efforts, late buying baby boomers and immigrants to drive growth

AOL.com November 11

Technologies, Inc. Acquires pcLOANS.com as New Retail Brand

VLDC to be delisted from OTC bulletin board

BusinessWire.com November 30

iOwn Acquires Genesis2000 to Blaze New Trail in Mortgage/Home Buying Business

Synergies still unclear

PRNewswire.com November 22

Rock Fincl Sees 4Q Loss Exceeding 3Q

Diminishing margins and declining volumes of all products of conventional loan and sub-prime loan originations which began in the third quarter have continued to appear in the fourth quarter

AOL.com November 19

Credit Report Service Started

First American Credco to allow lenders access to merged infiles from the internet

LATimes.com November 19

Countrywide Home Loans Announces Internet Enhancements

Site offers new look, comparable property analysis and online preapproval certificates for printing

PRNewswire.com November 16

LION Inc./Lioninc.com Announces Financial Results for 3rd Quarter 1999

While revenue was up 137% from last year, net losses worsened

PRNewswire.com November 16

Mortgage.com Unveils Strategy to Drive Internet Technology and Cost Savings to Point of Sale for Realtors(R)

Therealdesktop.com will provide mortgage marketing tools for Realtors and qualify them to earn a referral fee

PRNewswire.com November 15

Factual Data Unveils First Internet-Based Suite That Delivers Merged Credit Reports, Flood Certificates, Employment Screens, and Tenant Qualifying

Factualdata.com will allow
delivery of reports 300% faster than previous modem based communication
methods

PRNewswire.com November 12

E-LOAN Wins Junkbusters Privacy in Commerce Award

E-LOAN Recognized for Its Consumer Privacy and Accountability Practices

BusinessWire.com November 11

VLDC Technologies, Inc. Announces Acquisition of Ramsay Mortgage Company

Purchase of Virginia lender will be second for online mortgage company

GO.com November 11

E-loan Named GO Network's Mortgage Provider

Users will be able to utilize range of mortgage site features at Disney portal

Individual.com November 9

GMAC and Homestore.com Announce a $20 Million, Multi-Year Marketing and E-Commerce Alliance

In addition to providing advertising, Homestore.com will provide web-based services for GMAC's real estate network and retail mortgage operations

Individual.com November 8

Mortgage-shopping on the Net becomes easier

About 1.5 percent of home buyers get mortgages over the Internet

PostNet.com November 5

Mortgage Brokers Protest LoansDirect.com Ads

California association says bait-and-switch rates are not common with mortgage brokers

LATimes.com November 5

iProperty.com Adds Top Level Executives to Its Board of Directors

Former NAR economist, Conseco CFO among new directors

CBSNews.com November 4

AppOnline.com Announces Third Quarter and Nine Months 1999 Results

3rd quarter 1999 revenue and net income worse than 1998

Individual.com November 4

LoanCity.com Reshapes Online Mortgage Industry With Latest Version Of Business-to-Business Web-Based Software

Service lets brokers search programs by characteristics

PRNewswire.com November 3

Cyberspace mortgages heat up

Industry observers project that 20% of home loans will be done almost entirely online within five years

OrlandoSentinel.com November 2