Today's Fresh Blogs...

• Understanding Flow-based Correspondent Lending

  Published: August 24, 2007, 3:14 pm

  Tags: Mortgage Musings, Industry Mortgage Tips, Consumer Mortgage Tips, Correspondent Lending, Direct Lenders, Flow Based Lending, Mortgage Bankers

  this does not represent all mortgage banking and correspondent banking scenarios it is accurate for smaller flow-based correspondent scenarios. View the video here. As always we appreciate your feedback. Stay tuned for the next video in this series which uncovers some of the reasons that people start correspondent lending; and identifies

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• New Foreclosures Set Record

  Published: September 6, 2007, 12:21 pm

  Tags: Mortgage Defaults, Mortgage Delinquencies, Mortgage Bankers Association, Foreclosure Market, Adjustable Rate Mortgage, Duncan, Entered, Process, Increases, Divergence, Record, Foreclosure, States

  Rate Mortgage, Foreclosure Market, Mortgage Bankers Association, Mortgage Defaults, Mortgage Delinquencies ---Related Articles at Consumer Mortgage Reports:Mortgage Bubble Will 'Dwarf' That of '90s How Come Bank Loan Officers Are NOT Licensed?What Will Be The Direction of Presidents Bush And HousingU.S. MBA's Mortgage

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• Office of Thrift Supervision Seeks Mortgage Bank Authority

  Published: September 20, 2007, 3:09 pm

  Tags: Mortgage Bankers Association, Mortgage News, Mortgage News, Supervision, Reich, Thrift, Expertise, Exchequer, Pfotenhauer, Imposing

  Club in Washington. Mortgage banks do NOT have to share the same disclosures that mortgage brokers do. Mortgage brokers have to tell the client EXACTLY what all the fees are in a mortgage transaction BUT mortgage bankers do not have to - for some reason. Currently, bankers are able to ‘hide’ their fees from consumers.

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• Bank and Nonbank Playing Field Now Level?

  Published: September 24, 2007, 1:57 pm

  Tags: National Association Of Mortgage Brokers Namb, Mortgage Bankers Association, Nonbank, Dillingham, Playing, Field, Regulatory, Legal, Ruth, Attendees, Namb

  that are stated are that a mortgage broker typically has hunders of lenders to choose from, this allow for the best mortgage interest rates to be found, the best program and terms to choose from. All of which should save a consumer thousands of dollars. Typically, a mortgage bank can only offer to their one set of guidelines. Mortgage Bankers

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• House Passes Bill to Aid Strapped Homeowners

  Published: October 5, 2007, 12:00 am

  Tags: House, Passes, Bill, Aid, Strapped, Homeowners, Brian Gardner, Charles Rangel, George W Bush, The White House, Mortgage Bankers Association, U S House Committee On Ways Means, U S Senate Committee On The Judiciary, New York

  Financial relief for homeowners facing foreclosure or in bankruptcy advanced yesterday as the House approved legislation to help financially strapped homeowners.

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• Bush Officials Launch Mortgage Coalition

  Published: October 11, 2007, 12:00 am

  Tags: Bush, Officials, Launch, Mortgage, Coalition, Henry M Paulson, Arizona, California, Florida, Nevada, Alphonso Jackson, Barney Frank, Charles Schumer, Nadeam Elshami, Nancy Pelosi, Federal Housing Administration, Housing Policy Council, Mortgage Bankers Association, U S Hou

  Responding to the rise in foreclosures, the Bush administration yesterday announced the creation of a mortgage industry coalition to "step up efforts" to prevent people from losing their homes.

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• Mortgage Bankers Lost $50 On Every Loan Produced

  Published: October 11, 2007, 11:36 am

  Tags: Mortgage Bankers Association, Lenders Problems 2007, Mortgage News, Mortgage News, Profits, Production, Produced, 2005, Servicing, Revenues, Lost, Bankers

  Loan Lost $50 in ‘06 Mortgage bankers lost an average of $50 on every loan they produced in 2006, compared with profits of $258 per loan in 2005, according to the Mortgage Bankers Association’s annual cost study. “Production profits began to slip in 2004, and we see a continuation of this trend in 2006,” said Marina

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• Mortgage Originations Will Fall Below $2 Trillion In 2008

  Published: October 17, 2007, 7:14 pm

  Tags: Cerberus Capital, Mortgage Layoffs, Subprime Mortgage Industry, Mortgage Bankers Association, Mortgage News, Mortgage News, Duncan, Trillion, Originations, Predicted, Fall, Briefing, Trigger, Eventual

  with the decrease in mortgage production, there will be a need for fewer originators. While there were some initial job cuts back then, growth in the asset backed business led to an increase in employment. Now we are seeing those cuts being made, enhanced by the new hires, he said. Cerberus Capital, Mortgage Bankers Association, Mortgage

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• Mortgage and Housing Woes May Last Till 2009 or 2010

  Published: October 18, 2007, 10:24 pm

  Tags: Housing Market, Mortgage Bankers Association, Mortgage News, Housing Market, Mortgage News, Bibb, Lowman, 2010, Chase, Anxious, Packed, Ballroom, Droves

  a long way off, a panel of mortgage industry executives agreed at the Mortgage Bankers Association annual convention in Boston. “The overall picture is not a great one,” Patti Cook, chief business officer at Freddie Mac, told a ballroom packed with anxious conference attendees. Paul Bibb of National City Mortgage didn’t do

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• Bill Would Tighten Mortgage Standards

  Published: October 23, 2007, 12:00 am

  Tags: Bill, Would, Tighten, Mortgage, Standards, Barney Frank, George Hanzimanolis, Kurt Pfotenhauer, Mike Calhoun, Center For Responsible Lending, Mortgage Bankers Association, National Association Of Mortgage Brokers, U S House Committee On Financial Services

  Barney Frank, chairman of the House Financial Services Committee, yesterday unveiled legislation aimed at curbing abusive lending practices that, he said, have fueled an alarming rise in foreclosures.

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• Mortgage Bankers Association Favors Government Bailout

  Published: October 31, 2007, 11:30 am

  Tags: Mortgage Bankers Association, Fha, Mortgage News, Mortgage News, Kittle, Absorb, 3609, Cramdown, Cramdowns, Warned, Cram, Underwrite

  amount of residential mortgages, Federal Housing Administration servicers would have to absorb the losses because the government cannot pay a claim on a cramdown, according to the Mortgage Bankers Association. Passage of the bankruptcy bill (H.R. 3609) to permits cramdowns and loan modifications would make it riskier for lenders to

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• Congress Debates Subprime Legislation

  Published: November 16, 2007, 1:34 pm

  Tags: Hr 3915, Mortgage Bankers Association, Mortgage Implosion, Mortgage News, Mortgage Video, National Association Of Mortgage Brokers Namb, Subprime Implosion, Subprime Mortgage Industry, Debates, Legislation, Treated, Proposes, Congress, Barney, Frank, Bankers

  Congress Debates Subprime Legislation. Barney Frank Proposes Mortgage Brokers to be Treated Like Mortgage Bankers No Tags

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• Wall Street Continues Rally After Bush Announces Mortgage Plan

  Published: December 7, 2007, 12:00 am

  Tags: Wall, Street, Continues, Rally, After, Bush, Announces, Mortgage, Plan, George W Bush, Wall Street, Countrywide Financial Corporation, Dow Jones Amp Co Inc, J C Penney Co Inc, Standard Amp Poor S, Mortgage Bankers Association, U S Department Of The Treasury, U S Federal R

  NEW YORK, Dec. 6 -- Wall Street rallied once again Thursday as investors bet that companies hurt by the housing crisis would benefit from a government plan to help financially stretched homeowners and from another interest rate cut.

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• A Subpar Plan to Save Subprime Borrowers

  Published: December 9, 2007, 12:00 am

  Tags: Subpar, Plan, Save, Subprime, Borrowers, George W Bush, Henry M Paulson, Mortgage Bankers Association, The Washington Post Company, Xm Satellite Radio Holdings Inc, Charles Schumer, Michelle Singletary, National Public Radio Inc

  How timely that just as President Bush was announcing a deal to help homeowners struggling with their mortgage payments, new data were released showing that foreclosure starts set a new record.

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• House Panel OKs New Bankruptcy Bill

  Published: December 13, 2007, 11:38 am

  Tags: Foreclosure Market, Mortgage Bankers Association, Mortgage Defaults, Subprime Implosion, Subprime Mortgage Industry, Nontraditional, Bankruptcy, Bill, Restructuring, Panel, Waive, Narrowly, Chabot

  penalties and reduce the mortgage amount to the fair market value and reduce the interest rate to a conventional rate plus a risk premium. This restructuring would be limited to both subprime mortgages and nontraditional mortgages originated from 2000 through the date of enactment of the legislation. The Mortgage Bankers Association and the

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