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Some Fear New Appraisal Standards Will Drive Up Costs
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2008-05-05 |
Experts believe proposed home appraisal rules will drive up costs for homeowners and limit their choices. Commenting on the implementation and deployment of the Home Valuation Protection Code and efforts by Fannie Mae, Freddie Mac,... |
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| Data-Vision Adds E-Disclosure Functionality
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2008-05-05 |
Data-Vision Inc. has released a new version of its LoanQuoter software that allows lenders to facilitate the mortgage loan application process through its consumer-facing Web portals. The new LoanQuoter Version #.## marks the software's... |
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| PROMOTION SPOTLIGHT: Susan Graham
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2008-05-05 |
Ms. Graham has been promoted from vice president of operations to president of origination vendor Financial Industry Computer Systems, Dallas. Prior to joining FICS, she served as first vice president of residential and commercial loan... |
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| Builders: New Home Market Caught in a 'Diabolical Loop'
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2008-05-05 |
The housing market is trapped in a vicious downward spin, several panelists said at the National Association of Home Builders' Semi-Annual Spring Construction Forecast Conference late last month. And at least one participant, Nariman... |
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| CapitalSource Renews its $1 Billion Syndicated Credit Line
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2008-05-05 |
CapitalSource Inc., a real estate investment trust here, has renewed a secured credit facility of $# billion. The syndicate is comprised of five banks. The lead is Wachovia Capital Markets LLC, which has made a commitment of $### million.... |
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| Builders Told To Scale Down
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2008-05-05 |
The nation's giant homebuilding firms must pull back if they are to survive the current downturn, an analyst with Wachovia Capital Markets in San Francisco warned at the National Association of Home Builders' Spring Construction Forecast... |
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| Mortgage Pros Talk about Looking for Greener Pastures
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2008-05-05 |
AE-Secret-Informant: How do you downplay ## years experience in the mortgage (business) when trying to break into another line of work? Up until now I have made enough to cover all my monthly expenses and not dip into savings. This... |
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| Roundup: Moody's Downgrades 800+ Subprime Classes
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2008-05-05 |
Moody's Investors Service has downgraded the ratings of more than ### tranches in nearly ### subprime residential mortgage-backed securities transactions from six issuers. The affected securities were as follows: ### tranches from ##... |
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| Roundup: Countrywide, New Vista Form Alliance to Sell REO
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2008-05-05 |
Countrywide Financial Corp. and New Vista Asset Management have joined together to find qualified borrowers for Countrywide's real estate-owned properties. The companies said New Vista's network of real estate agents, who have "deep... |
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| Citi Raises $4.5BWith Stock Offer
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2008-05-05 |
Shares of Citigroup sank more than #% last Wednesday after the company priced a $#.# billion common stock offering. Citi had previously announced its intention to issue $# billion of shares but raised the amount in response to investor... |
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| BoA Pledges to Mitigate Foreclosures on Countrywide Loans
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2008-05-05 |
Bank of America is promising regulators it will devote substantial resources to prevent foreclosures after it takes control of Countrywide's $#.## trillion mortgage servicing portfolio. BoA president Liam McGee told Federal Reserve... |
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| AmStar to Finance Reverse Warehouse
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2008-05-05 |
AmStar Financial Services Inc. here is launching what its top executive is describing as the first-ever warehouse lending facility dedicated to reverse mortgages. Right now, Amstar is looking for an investor to fund the facility. It... |
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| Mortgage-Related Writedowns Push Deutsche Bank into Red
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2008-05-05 |
Deutsche Bank took a ### million euro ($### million) loss in the first quarter, a period in which it also took #.# billion euros ($#.# billion) in writedowns, ### million euros ($#.## billion) of which were mortgage related. The bank's... |
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| Street Vets Teaming Up with Black?
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2008-05-05 |
Former Deutsche Bank loan traders Michael Commaroto and Paul Mangione are talking to investor Leon Black about starting a fund to bottom-fish in delinquent mortgages and securities, industry officials told National Mortgage News. Also... |
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| First American, Fidelity Buck Trend with Profitable First Quarter Results
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2008-05-05 |
Of the five national title insurance underwriters, only The First American Corp., Santa Ana, Calif., and Jacksonville, Fla.-based Fidelity National Financial Inc. reported profits for the first quarter. FAF, which is in the process... |
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| FTC Takes Aim at Bear-Æs Servicer
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2008-05-05 |
The Federal Trade CommissionÂ’s multiyear investigation into the servicing practices of EMC Mortgage Corp. has finally placed the Bear Stearns & Co. affiliate in hot water. FTC director of consumer protection Lydia Parnes told a Senate... |
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| Key Goldman Exec Leaving Firm
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2008-05-05 |
Goldman Sachs mortgage head and managing director Daniel Sparks has stepped down and been replaced by two other executives from within the firm who will co-head the unit going forward, a spokesman confirmed. Justin Gmelich, head of... |
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| Provident Posts Loss But Cites Regional Strength as Asset
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2008-05-05 |
Provident Bankshares Corp., the parent company of Provident Bank, reported a net loss of $##.# million for the quarter ending March ##. The company said recent economic data have shown that the Mid-Atlantic region, while sluggish, remains... |
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| People
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2008-05-05 |
FLORIDA |
