The Mortgage Bankers Association is hosting its National Secondary Market Conference & Expo until tomorrow in Boston. Rep. Barney Frank (D-Mass.), Chariman of the U.S. House Committee on Financial Services, is among the speakers at the event.

Issues covered include how to succeed in a changing market, the outlook on reverse mortgages and the impact of recent and expected regulations and legislation. One session focuses on the current view from Wall Street, while another discusses restoration of confidence in the private-label market. Other sessions look at operating profitably and minimizing risk in today's changing market, while warehousing paperless mortgages was also a subject on the agenda.
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Lenders Call for Changes to New Appraisal Code
Mortgage bankers are concerned about the recent code that was established for appraisals on conforming loans and are calling for either elimination of the code or more industry input, further clarifications and other changes before it is implemented. Of concern is the additional cost to implement provisions of the code and the liability of lenders for activities outside their control.

Brokers May Fight New Appraisal Requirements
Mortgage brokers are threatening to file legal action in response to new appraisal guidelines on conforming mortgages.

Sector Shakeup Continues
As financial services firms continued to see their earnings pounded by mortgage related charges, National City Mortgage Co. named a new chief executive officer. Meanwhile, the merger of American Bankers Association and America's Community Bankers became effective Saturday.

Reverse Lending Outlook
SAN DIEGO -- The National Reverse Mortgage Lenders Association held its annual conference last week in sunny Southern California.

World of Warehousing
DALLAS -- Warehouse lending is not going away, though it has tightened up, according to panelists at a Texas mortgage banking conference this week. The sector, which operates on the basis of short term financing, has become saddled with mortgages from failed customers.

Originators Certifiable
Loan originators can enhance their image with a seal of approval from various mortgage organizations.

Digital Disclosures
Mortgage technology providers are busy this week touting their wares at the annual Mortgage Bankers Association conference in Boston. Dominant among the latest offerings were advancements in loan disclosures as well as secondary marketing technology.

High Finance
A merger between two banking associations moved one step closer to closing while another deal is falling apart. Other recent corporate activity included the de-reitization of a subprime lender, a bank's $32 million settlement with regulators and a $700 million plunge in mortgage related revenues at an investment banking firm.

Mortgage Industry Lobbying
The mortgage industry has spent hundreds of millions of dollars during the past decade lobbying members of Congress. The Mortgage Bankers Association of America's Kurt Pfotenhauer is brutally honest when asked why the mortgage industry trade group spent more than $2.7 million last year lobbying members of Congress.