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The National Association of Mortgage Brokers reached a turning point at its recent NAMB/West conference in Las Vegas.Just prior to the conference, Bill Howe, who had been serving as the group’s president, resigned due to ongoing health issues. Stepping up from president-elect is Michael D’Alonzo.
February 7 -
Bank of America late Friday said it would create a unit to handle 1.3 million distressed residential loans, many of which it inherited when it bought Countrywide Financial Corp. in August 2008.
February 4 -
Fannie Mae late Friday afternoon released information on the pricing of three separate DUS Mega securities totaling $450 million, reflecting for the first time a new sales execution option it had introduced earlier in the week.
February 4 -
The White House plan to revamp Fannie Mae and Freddie Mac will mandate that the two charge higher guarantee fees over the next few years, and also will allow the GSE loan cap to fall back to $625,500 by the fall, according to Washington sources.
February 4 -
The 10-year Treasury yield, a benchmark that can be a rough indicator of long-term mortgage rates, continued its upward trend Friday with a steep climb that had left it near 3.65% by late afternoon.
February 4 -
The key metric to the outlook for housing in 2011 is the modest improvement in the economy expected for this year as well as next, said an analyst with Fitch Ratings.Rob Curran said that there are still potential headwinds that can derail the positive housing outlook, including the possibility of the economy stalling or falling into a double dip recession.
February 4 -
Commercial property values have fallen 42% from their peak in 2007 and there are roughly $1 trillion in underwater CRE loans maturing the next few years that could be difficult to refinance, according to a new report from Trepp, LLC.
February 4 -
What is most important to banks and other mortgage lending institutions—fast appraisals or high-quality appraisals?Any self-respecting appraiser or appraisal management company would like to hear that the answer to that question is “quality above all else”—hands down.
February 4 -
Loan officers working for nonbank lenders and brokerage firms are an unhappy lot these days. Not only do LOs face depleted earnings prospects thanks to a pending Federal Reserve rule on compensation, but they're looking at higher licensing costs, and fewer choices in the secondary market as wholesalers ponder their future in the sector.
February 4 -
Mortgage origination services and technology at Lender Processing Services generated annual and quarterly revenue gains in the fourth quarter of 2010, including a 31.8% spike in settlement services revenue. But LPS said its Loan Facilitation Services segment operates in a sector likely to see marketwide potential revenue dive nearly 30% in 2011.
February 4
