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Mortgage Daily

                                                 January 24, 2009

Two firms are educating individual investors about acquiring mortgages, while a new offering promises to predict performance on potential portfolio purchases. Mortgage bankers are working on a standard agreement for whole loan sales.

The Mortgage Bankers Association last month proposed a draft purchase and sale agreement for whole loans. The trade group hopes that the draft will become an industry standard for whole loan that are acquired with the intent to securitize them.

In Selling Notice Announcement 09-26, Fannie Mae said Refi Plus loans with loan-to-values above 105 percent can continue to be delivered beginning Sept. 1. But Refi Plus loans with the CQ prefix are eligible for mortgage-backed securities delivery on or after Oct. 1.

Correspondent lender Affiliated Mortgage Co. has become a preferred investor for Lenders One Mortgage Cooperative, an Aug. 25 press release indicated. Lenders One members will receive special terms and Affiliated will benefit from promotional marketing.

CreditHorizons is now available from Experian Capital Markets to analyze and value their whole loan portfolios, a news release Wednesday indicated. The offering links individual borrower behavior on performing and nonperforming loans with expected loan performance based on key credit attributes.

“For example, a hedge fund recently used Experian’s CreditHorizons in a portfolio analysis of a performing option adjustable-rate mortgage pool,” the statement said. “Experian’s CreditHorizons identified additional fraud losses, recent bankruptcy filings and two times the number of investor-owned properties than reported by the pool’s seller.”

A recent test found that predictions of loan default by ValueScoutTM were found to be between 96 and 98 percent accurate, Value Creation institution claimed in a news release last month. The findings were based on data from 4,338 loans.

SilverLeaf Seminars recently held an educational event on evaluating, acquiring and servicing mortgage debt. The company gave away a house to one of the attendees.

BigBidder.com recently promoted, Note Investing 101, a Webinar on investing in mortgage notes.

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