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Issue Number 107, December 17, 1999

Main Mortgage Stories
Mortgage Technology
Mortgage rates creep up

Weekly survey released Thursday by Freddie Mac

StarTribune.com December 18

UK's Byers to outlaw mortgage tie-in deals

Britain's Trade and Industry Secretary Stephen Byers said he planned new laws to stop mortgage lenders forcing borrowers to buy insurance as part of a mortgage deal

GO.com December 17

Housing starts fall in November

Condos and Town homes still strong according to Commerce Department report

StarTribune.com December 17

Continued Rise for Southland Home Sales

Median price paid for a Southern California home was $196,000 last month

CBSNews.com December 17

Many being priced out of area housing market

The average cost of a home in the Denver metro area has hit $215,000

DenverPost.com December 17

Poll: Banks Favor Whites for Loans

Data released in July by several federal bank regulatory agencies showed minorities continued to be denied conventional mortgage loans at similar rates as in recent years

StarTribune.com December 16

Norwest Mortgage plans 2,500 workers at Honeywell site by 2002

Twin Cities property probably fetched $40 million to $45 million

StarTribune.com December 16

Prism Moves Ahead After Death of Founder

Company Thanks Community for Support

GO.com December 16

Abbey National up on bid smoke

Rumors that Lloyds TSB Group Plc may bid for the mortgage group met with skepticism

GO.com December 16

GMAC-RFC Expands Investment Options With New Shelf

Residential Asset Mortgage Products (RAMP) Will Give Clients, Investors More Choices, Flexibility

PRNewswire.com December 15


Mortgage loan applications for the week ending December 10 down 48% from last year

MBAA.org December 15

Housing market to slow a little in 2000-Fannie Mae

Fannie Mae chief economist David Berson says U.S. home sales will likely fall around 7.5 percent in 2000

Individual.com December 15

Fast-Growing Ivanhoe Financial Uses Concentrex(TM) Mortgage Products To Streamline Secondary Marketing

Start-up Florida wholesale lender has funded loans in excess of $100 million from June through December

PRNewswire.com December 15

Washington Mutual is No. 1 Wholesale Mortgage Lender

Mortgage Finance Today report for 3rd quarter

AOL.com December 13

Rising interest rates don't stop homeowners from refinancing

Freddie Mac report indicates borrowers are still pulling cash from their home equity

OrlandoSentinel.com December 13

First American Says Real Estate Slowdown Is Forcing Layoffs

Parent of First American Title to cut work force by 2,400

LATimes.com December 11

Loan Covers Borrowers In Event of Job Loss

Cost of mortgage unemployment insurance .125% - .25% added to note rate

WashingtonPost.com December 11

9 Indicted in Mortgage Fraud Scheme

A mortgage lender, loan officer, lawyer, accountant, appraiser and straw buyers were among those indicted Thursday in Ft Lauderdale

StarTribune.com December 10

Bond market braces for worst

Todd Finkelstein, Advest Group in Boston, expects 30-year yields to rise as high as 6.70% next year

USAToday.com December 10

Countrywide Releases Thirteen Month Statistical Data

11/99 production @$3.9 billion, down $8.3 same month last year

PRNewswire.com December 10

Mortgage eCommerce Council Signals Future of the Industry

Lou Dobbs, the former President and CEO of CNNfn and current principal of Space.com, & other industry executives in attendance in Florida

Individual.com December 15

Lender DiTech Turns Off Road, Into 'E-Marketing'

Company, recently purchased by GMAC, focusing email solicitations

LATimes.com December 15

LION Inc. Announces Organizational Changes

CEO to be named president, and 2 co-presidents will serve in subsidiary office of the president

PRNewswire.com December 14

New Version of Calyx POINT(R) Combines Sophisticated New Features With Proven Ease-of-Use

Traditional Plan Upgrade costs $245

PRNewswire.com December 13

Countrywide Ranked Top Electronic Mortgage Lender in National Survey

Survey published by National Mortgage News

AOL.com December 14

Digital Courier Signs Internet Mortgage Lender OnLoan.com

Agreement will provide secure real time transaction processing

Individual.com December 10

Intuit Completes Buy Of Rock Fincl For 8.6M Shares

Pro rata combined production was $3.5 billion over the past 12 months

AOL.com December 9

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

VLDC to be delisted from OTC bulletin board

BusinessWire.com November 30

MBA Announces It Will Conduct Information Technology Cost Study

Study will analyze technology spending and effectiveness in several key areas including: origination; servicing; the internet and Y2K

MBAA.org November 29

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

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