Origination

Don't be a stranger. To your professional network, that is. I know a lot of loan officers (and other sales professionals too) tend to skip the networking meetings over the summer. The thought here is that "practically everyone is on vacation and there won't be any productive networking going on." Well, guess what-the summer is just about over and that excuse (and it is just an excuse) is no longer relevant.

All reverse mortgage counselors approved by the Department of Housing and Urban Development must now provide their clients with the National Council on Aging's 28-page consumer booklet. In addition, NCOA said, counselors must complete an extra level of financial assessment to help seniors gain a greater understanding of financial risk and other factors that may impact their loan.

The aggregate value of commercial real estate loans priced by DebtX that back CMBS rose to 77.4% as of June 30 from 76.6% as of May 28, according to figures released by the auction company. Loan values were 76% as of June 30, 2009.

Cantor Fitzgerald and the CIM Group have formed a commercial real estate financing business that will originate loans for securitization.

Southwest Securities FSB, Dallas is cutting back the dollar amount of warehouse credit it lends to nonbanks, according to mortgage officials familiar with the situation.

Fortress Investment Group LLC and American International Group have agreed that some of the former's managed funds and affiliates will acquire 80% of AIG's American General Finance, a mortgage and consumer credit provider.

Interest rates at record low levels is a trend that is likely to continue given the Federal Reserve Board's announcement on Tuesday it will buy government debt. But low rates haven't been resulting in a rush of new mortgage applications recently as this week's Mortgage Bankers Association Market Composite Index found.

Was it possible to predict the bursting of the subprime mortgage bubble before it happened, and thus maybe to prevent it or make its effects less drastic?

JPMorgan Chase & Co. acquired $3.5 billion of multifamily and commercial real estate loans from Citigroup Inc., saying that the "highly desirable" portfolio mirrors the Chase commercial term-lending group's focus on "excellent borrowers in stable markets."

U.S. subprime prices may be hitting a plateau, according to Fitch Solutions' index.