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Mortgage Rates Hit New Record Lows
Mortgage rates took a small dip Christmas week, but it was enough of a plunge to take them lower than they've been since 1965, according to Freddie Mac's weekly mortgage market survey.

HMDA Exemption Stays at $32 Million Asset Size
The reporting threshold for the Home Mortgage Disclosure Act will remain unchanged for 2003, the Federal Reserve Board announced Tuesday.

ABN AMRO November Production Falls
ABN AMRO Mortgage Group, Inc. announced November production figures, which pushed the lending company to its biggest year-to-date ever but also included some decreases from October.

Wells Leads Originations in Fairfax County
A batch of sample maps reveal the top mortgage lenders in specific geographical regions, and are being marketed as a new way to keep check on the competition.

Freddie Economist Says Rates May Fall
As borrowers responded to last week's drop in mortgage rates and the one-year adjustable-rate mortgage hit record bottom, a Freddie Mac economist sees lower mortgage rates ahead.

Freddie November Purchases Edge Up
Freddie Mac reported a slight month-to-month increase in business purchases and a flat duration gap for the month of November.

Scores Vary Substantially Among Repositories
A consumer group and credit industry trade group released a study on credit scoring inaccuracies and its affects on borrowers and lenders -- which were found to be both positive and negative.

Loan Accounting, Investor Reporting, & Default Management
Recent residential servicer ratings actions

Record Business Volume at Fannie
Fannie Mae announced its November monthly summary Friday, donning its highest business volume on record.

Fake Gift Funds, Income Cited in Massachusetts Fraud Case
A Virginia man has been accused by the government of duping mortgage lenders in a Massachusetts flip scheme that used fake down payment and income verification.

Apps Slide, Rates Improve
Mortgage loan applications gathered more dust last week, but the first mortgage rate dip in a month may bring them off the shelf again.

Record $5.2 Billion November Production at Flagstar
Flagstar Bancorp, Inc. reported record mortgage loan production during November.

Countrywide November Production Off
Countrywide Financial Corporation reported a drop in November loan production and total purchase fundings from the previous month.

Junk Fees Should be Shifted to Points
Industry commentary from Dave Hershman

Freddie to Donate $225 mil to its Foundation
Reducing its earnings by $146 million after taxes for the fourth quarter, Freddie Mac announced it will contribute $225 million in cash to philanthropic programs.

Mortgage Employment Continues to Strengthen
The mortgage industry established itself again last month as a hot place to work, even while general unemployment shot up.

Fraud Flips National Phenomenon
Report after report of mortgage fraud hits news wires on a regular basis, with stories of lenders and innocent sellers being cheated out of billions. The more industry individuals become familiar with the crime, the better chance they have at helping prevent it.

Loan Prospector Changes to Further Streamline Originations
Freddie Mac announced that its automated underwriting system will give brokers an added boost beginning this weekend, and that Freddie plans on helping brokers electronically close online in the next two years.

Refis May Jump
Mortgage rates have been creeping upward, but the Thanksgiving holiday is just as much to blame for the plunge in loan applications last week, analysts say.

Home Appreciation Slowing
Home value appreciation slowed in the third quarter, according to a federal report, a sign that the housing industry's record run is nearing the finishing line.

Hot Jobs Not Gone
Employment numbers in the mortgage industry continued to swell during the month of October, according to the Bureau of Labor Statistics.

Bankruptcy Filings at All-Time High
Bankruptcy figures broke records -- and backs -- in the federal courts during fiscal year 2002, according to the Administrative Office of the U.S. Courts' quarterly report.

Mortgages Make Up Majority of Commercial Bank Asset Increases
Frenetic mortgage lending during the third quarter helped swell banks' loans and securities portfolios, according to the Federal Deposit Insurance Corporation's Quarterly Banking Profile of commercial banking performance.

COFI Break
The popular 11th District average cost of funds index, or COFI as it is commonly known, fell closer to its lowest level in decades.

Servicer Ratings Actions
Mortgage ratings actions during November

NHEMA Sues OTS
The National Home Equity Mortgage Association sued a government agency Friday over new regulations affecting prepayment and late fee rules on mortgage loans.

HEL Delinquency Falls
Mobile home loan delinquencies decreased, but delinquencies on home equity loans remained about the same, according to a third quarter report released Thursday by the American Bankers Association.

Conseco Bankruptcy Among Largest in U.S. History
After four years of heavy losses and deep debt, Conseco, Inc. filed chapter 11 bankruptcy Tuesday night, and its finance unit has entered an agreement to sell its assets, according to federal court documents.

Robust Environments
Recent subprime and "Alt-A" RMBS servicer ratings actions.

Production Falls at New Century
New Century Financial Corporation reported a decrease in mortgage loan volume during November.

OTS Bumps Deadline
After urging the federal government to delay deregulation of prepayment and late fee rules because the short notice would cause a major disruption in lending, the National Home Equity Mortgage Association got its wish Friday.

Reverse Loans Gaining Momentum
A unique, inconspicuous little loan is keeping lending offices busier than ever, and it has more to offer than lenders may think.

Apartment Lending Rises at ABN AMRO
ABN AMRO Apartment Lending reported an increase in lending for the month of November.

$35.4 Million Production at Cambridge
Cambridge Realty Capital Companies reported its production figures for the first ten months of 2002.

Smaller Towns at Highest CMBS Delinquency Risk
Moody's Investors Service has targeted the area most likely to have delinquencies on commercial building mortgages, according to a study.

Lights, Camera, Action
Recent ratings actions on CMBS servicers

Landmark Transactions
Recent commercial mortgage transactions

Commercial Originations Falling
Mortgage originations for multifamily and commercial properties dropped during the third quarter, according to a survey by the Mortgage Bankers Association of America.

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