http://www.nationalmortgagenews.com/ The current headlines from National Mortgage News en Copyright 2009, SourceMedia, Inc. and National Mortgage News. All rights reserved. Fri, 20 Nov 2009 16:45:04 EST andras.malatinszky@sourcemedia.com http://www.nationalmortgagenews.com/images/nmn_logo.jpg http://www.nationalmortgagenews.com/ 300 100 http://www.nationalmortgagenews.com/#1 Tourmalet Advisors, a Connecticut-based hedge fund, is in the process of raising $500 million to invest in nonperforming mortgages, according to an offering circular provided to <I>National Mortgage News.</I> http://www.nationalmortgagenews.com/premium/archive/?ts=1258736401 2009-11-20 13:31:32 http://www.nationalmortgagenews.com/#2 The sale of $11.5 billion in jumbo servicing rights belonging to the bankrupt Thornburg Mortgage of Santa Fe has cleared another hurdle but it's still unclear when bids will be taken. http://www.nationalmortgagenews.com/premium/archive/?ts=1258736402 2009-11-20 13:31:32 http://www.nationalmortgagenews.com/#3 "Several dozen" of the 1,200 to 1,500 fraud investigations currently underway within the Department of Housing and Urban Development's Inspector General's Office involve home equity conversion mortgages, a group of reverse mortgage specialists meeting in San Diego were told. http://www.nationalmortgagenews.com/premium/archive/?ts=1258736403 2009-11-20 13:31:32 http://www.nationalmortgagenews.com/#4 Credit scores on FHA single-family loans have risen steadily over the past three years with the average score reaching 689 at the end of September, a 10% improvement from a year ago. http://www.nationalmortgagenews.com/premium/archive/?ts=1258736404 2009-11-20 13:31:32 http://www.nationalmortgagenews.com/#5 The House Financial Services Committee has approved an amendment that cuts a 10% risk retention requirement on sales and securitizations of mortgages down to 5%. http://www.nationalmortgagenews.com/premium/archive/?ts=1258736405 2009-11-20 13:31:32 http://www.nationalmortgagenews.com/#6 Bank of America plans to sell $460 million of mortgage securities backed by commercial real estate loans without relying on a Treasury program to aid lending in that market. http://www.nationalmortgagenews.com/premium/archive/?ts=1258736406 2009-11-20 13:31:32 http://www.nationalmortgagenews.com/#7 False and misleading advertising was described at the National Reverse Mortgage Lenders Association's annual conference in San Diego as a "cancer" on the reverse lending business. http://www.nationalmortgagenews.com/premium/archive/?ts=1258736407 2009-11-20 13:31:32 http://www.nationalmortgagenews.com/#8 The National Reverse Mortgage Lenders Association is in the final stages of "publicly naming" an overly aggressive third-party lead generation company which has consistently violated the group's ethics and standards policies. http://www.nationalmortgagenews.com/premium/archive/?ts=1258736408 2009-11-20 13:31:32 http://www.nationalmortgagenews.com/#9 Senate Banking Committee Chairman Chris Dodd abruptly abandoned his plan to press ahead with a partisan vote on his regulatory reform bill next month after running into bipartisan opposition. http://www.nationalmortgagenews.com/premium/archive/?ts=1258736409 2009-11-20 13:31:32 http://www.nationalmortgagenews.com/#10 Barclays Capital has entered into a joint venture with Goff Capital, Inc., to acquire Crescent Real Estate Equities LP from Morgan Stanley Real Estate Funding II. http://www.nationalmortgagenews.com/premium/archive/?ts=1258736410 2009-11-20 13:31:32 http://www.nationalmortgagenews.com/#11 The United Kingdom's year-to-year gross mortgage lending could slow down a bit on a monthly basis in coming months but it might start to look a little better on a year-to-year basis. http://www.nationalmortgagenews.com/premium/archive/?ts=1258736411 2009-11-20 13:31:32