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10,000 Pages of News Published at MortgageDaily.com

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DALLAS — (Oct. 5, 2009) After more than a decade of publishing stories by dozens of journalists and writers, MortgageDaily.com has exceeded 10,000 pages of mortgage news.

On Thursday, Oct. 1, 2009, page count at MortgageDaily.com reached 10,000.

The trade publication — a dominant online news source for businesses and individuals with interests in mortgage lending — began publishing news in June 1999. More than two dozen journalists and writers have since contributed to content produced by MortgageDaily.com.

Among the publication’s most popular subjects are FHA, mortgage litigation and mortgage employment. Origination news and mortgage fraud news are also widely read subjects.

“We’ve covered the mortgage industry at its best and at its worst,” MortgageDaily.com Publisher Sam Garcia stated. “We first saw a surge in readership as mortgage rates tumbled following the Sept. 11, 2001, attacks on the United States.”

Mr Garcia founded MortgageDaily.com in 1998 after nearly two decades in mortgage lending. While he spent much of his mortgage career in subprime wholesale lending, he also was a founder and partner at a regional wholesale lending firm and an independent mortgage broker.

Mr. Garcia highlighted several mortgage industry milestones covered by MortgageDaily.com.

Date Milestone
2003 U.S. residential originations reach $3.8 trillion — the highest year ever
2007 165 mortgage-related operations collapse or close including Ameriquest Mortgage Co., Mortgage Lenders Network, New Century Financial Corp. and Option One Mortgage Corp.
October 2005 Mortgage employment climbs to a record 535,400
July 2008 Bank of America Corp. acquires Countrywide Financial Corp. — the biggest U.S. residential lender
October 2008 $8 billion settlement by Bank of America Corp. is biggest mortgage-related settlement ever
2008 124 mortgage-related businesses close or collapse including Fannie Mae, Freddie Mac, IndyMac Bank F.S.B. and Washington Mutual Bank
April 2009 Average 30-year fixed rate falls to 4.78% — the lowest on record
August 2009 Taylor, Bean and Whitaker Mortgage Corp. collapses
August 2009 Mortgage employment falls to 261,200
September 2009 Government purchase mortgage applications reach a record high

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