Loan Think

The two federal agencies that have a stake in regulating consumer privacy issues, the Department of Commerce and the Federal Trade Commission, are expected to issue recommendations for a privacy regulatory framework.

An American Indian bank, Oklahoma City-based Bank2, wants to partner with New Mexico tribal housing entities to drum up more Indian mortgages in the state.

I've never been in the camp of those predicting that commercial real estate would experience the same type of ugly bubble seen in the residential sector. Don't get me wrong, CRE has been nicked pretty good, especially "commercial" loans that funded tract development and home building. (Also, the New York 'Stuy-town' disaster will be studied in B-Schools for years.)

LEHMAN BROS., which failed in 2008 while holding bad real estate loans, on Nov. 15, filed suit against NATIONFIRST LENDING INC., an Irvine mortgage company for allegedly misrepresenting the strength of loans it sold to the Wall Street firm. The lawsuit, filed in federal court in Los Angeles, alleges that Nationsfirst Lending Inc. misrepresented the identities of borrowers, the value and condition of property securing the loans and the validity of loan documents. NATIONSFIRST is listed as a suspended corporation on the California Secretary of State website.

First we would like to wish you and your families a Happy Thanksgiving. We hope you get to spend some time with family and friends over the holiday weekend. OK, let’s say it—this year has been a struggle for some and a decent one for others. The reasons for that we’ll discuss in future articles as they are many and varied.

The goals of any marketing campaign include keeping the company's name out in front of the public as well as giving the public a reason to come into the company's offices. A British bank and mortgage lender may have found an offbeat way to achieve both of those.

The National Association of Realtors wants to make it very clear: if it weren't for stingy mortgage bankers and certain appraisers, home sales would be better.

There's been occasional chatter among bottom feeders that Fannie Mae is contemplating selling nonperforming loans in the secondary market. Why sell an NPL instead of real estate? Mortgage professionals can answer that question themselves. Meanwhile, Fannie supposedly has a bulk REO package out for bid. An investor who viewed the offering circular (online, that is) said one segment on properties in the Indiana market has been labeled "Basketball"…

ILLINOIS BONDING REQUIREMENTS increase effective Dec. 31. The rate is $25,000 to $150,000 depending on the total loan officer volume. (I hope you have a lot of volume)Surety Bond Volume Requirements:

THIS JUST IN: Not only does IBM plan on making a huge splash in the mortgage servicing business by amassing MSRs and subservicing contracts, but the technology giant recently hired a business manager to help it find deals. On Thursday, National Mortgage News broke a story on its website about IBM taking over MSRs for JPMorgan Chase. We're working on a large feature about the MSR issue which will appear in the paper version of NMN. Don't subscribe? Call: (800)221-1809…