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Mortgage Lead Spending to Rise
Lead generation companies and lenders say spending for online leads, which perform better than those generated from traditional advertising according to a recent survey, will increase this year.

Brokers at Disadvantage Under Proposed Bill
The owner of an Ohio mortgage brokerage told lawmakers economic conditions, and not mortgage brokers, are responsible for the Buckeye State's high foreclosure rate.

Calif. Company Calls it Quits
A nonprime wholesale mortgage lender is shutting down.

ARM Yields Climb
Short-term rates rose more than long-term rates this week, while applications held steady.

Subprime Lender Changes Hands
A Dallas-based homebuilder has agreed to sell its nonprime lending unit.

Online Origination Software
A Silicon Valley-based technology company has joined a growing list of service providers that aim to eliminate the need for mortgage loan originators to maintain a personal computer.

Regulation of Nontraditional Loans Proposed
Proposed regulations on less traditional mortgages drew sharp criticism from banking and mortgage groups.

Fraud Broker's Sentence Suspended
A Colorado mortgage broker who pleaded guilty in a state court to leading a $20 million fraud ring will spend no time in state prison for his crimes.

Best Service
There is no shortage of complaints about mortgage companies at the Better Business Bureau. But one Washington-based lender and broker was commended by the agency for its lack of complaints.

Ameriquest Settlement Worries Brokers
WASHINGTON -- The chairman of a mortgage broker trade group warned that the landmark settlement reached earlier this year with Ameriquest Mortgage Co. has big implications for mortgage brokers.

HEL Delinquency Down
Quarterly home equity loan delinquency continued to fall.

Best Performing Mortgage Companies
The top performers in mortgage-related businesses are investment banking firms, according to a ranking of companies by financial performance.

Lender Launches 50-Year Loan
First it was 30. Then it was 40. Now, a California lender is offering 50-year mortgage loans. But just how big is the benefit of going it two decades longer than the typical residential loan?

Shareholders Sue PHH
In a lawsuit filed against PHH Corp., shareholders allege financial misrepresentation. Plaintiffs' attorneys say the filing is a class action.

Fed Comments Push Rates Higher
The 10-year Treasury yield soared Tuesday as the Fed lifted a key rate for the 14th consecutive time and strongly suggested there is another increase on the horizon.

Integrating Leads Into LOS
New mortgage lead management technology enables originators to integrate their leads into their loan production systems.

World of Mortgage Finance
As banks dominate the latest mortgage-sector mergers, acquisitions and other corporate activity, the second richest man in the world is making a deeper foray into real estate finance.

Subprime Employees Laid Off
A California-based subprime lender has announced it will close wholesale operating centers in Florida and New Jersey -- leaving 100 employees without a job.

Nonprime Delinquency Soars in Gulf
A tidal wave of mortgage delinquency has hit nonprime borrowers in areas impacted by Hurricane Katrina. But glimmers of light can be seen through the clouds.

Mortgage Vet Recognized for Writing
An Atlanta mortgage veteran has been recognized by the government for his journalism skills.
photo of Jerry Chautin
IL Sues Mortgage Companies for Fraud
The Illinois Attorney General has filed two lawsuits against three companies she says claim to help homeowners facing foreclosure keep their houses but that actually engage in mortgage rescue fraud.

Net Branch Closes Doors
A Texas-based nationwide mortgage brokerage with as many as 300 branches abruptly shut down Friday, according to two of the company's branch managers.

Upturn at Freddie
Freddie Mac increased business purchases in February.

Delinquency, Purchases Down at Fannie
Fannie Mae business volume decreased for the second consecutive month.

Best Mortgage Outsourcers
Mortgage banking companies looking to outsource some of their operations can look to a brand new ranking for the best global outsourcers.

Quicken Adding 100s of Ohio Jobs
Quicken Loans is opening a new Internet home lending center where it will bring on hundreds of new employees.

Secondary Deal Nearly $1 Billion
Nearly $1 billion in nonconforming loans will change hands.

Rate Forecasts Raised
Applications held steady as mortgage rates are expected to increase at a faster pace than previously anticipated.

Secondary Pricing Technology
A California firm claims its technology can help secondary market players lower the cost of acquiring mortgage loans.

Family, Friends Hold Out Hope for Missing Processor
The last time anyone remembers seeing a Pennsylvania mortgage processor, she and her boyfriend were leaving a nightclub in South Philadelphia more than a year ago.

photo of Danielle Imbo
Firm Fined $600k by Labor Dept.
A New Jersey-based mortgage company received a fine of nearly $600,000 for failing to pay required wages to foreign workers.

Fraud Brokers to be Tracked
Eleven companies, including a credit reporting agency and a net branch company, have banded together to establish a national database of bad brokers.

Lose the Ego in Sales
Achieving high levels of success in selling requires the ability to put aside one's ego while politely ignoring the word "no" and preparing for the worst in a positive way, according to one sales book that offers 15 unique sales strategies.

Service Helps Originators Generate Mortgage Leads
Fidelity National Real Estate Solutions is using its national database of property records to help loan originators develop their own mortgage leads.

Accounting for Servicing Rights
The Financial Accounting Standards Board announced changes to the way mortgage companies can account for mortgage servicing rights.

Help Wanted
The chief financial officer at Freddie Mac has resigned, and the company is looking for a replacement.

Long Term Warehouse Line
A new program from a Florida-based, warehouse-line provider enables mortgage bankers to finance originations on a "long-term" basis.

NV County Clerk Resigns Amid Mortgage Scandal
A county recorder in Nevada has stepped down from her $91,000 a year job amid allegations she sold mortgage-related documents before they were made public.
photo of Frances Deane
Capital One Mortgage Orginations to Soar
Capital One Financial Corp. will become a significant mortgage operator with its upcoming acquisition of a Melville, N.Y.-based bank.

Wealthiest Mortgage Moguls
A New York icon has joined the list of the wealthiest people in mortgage lending.

Digital Wholesale Submissions
Mortgage brokers are increasing originations and reducing time, money and errors by electronically submitting loan packages to wholesale lenders, according to a recent survey.

FTC Takes Position in M.I. Lawsuit
The Federal Trade Commission weighed in on whether charging a borrower a higher mortgage insurance premium constitutes an adverse action.

Small Bank Mergers Abundant
Several recent banking mergers and acquisitions overshadowed a Canadian-based mortgage franchise operation's entry into the United States.

Improved Mortgage Lead Quality
Loan lead generation companies are using feedback from loan prospects as well as specialized Web site landing pages to improve the conversion ratios for their customers.

Lenders Targeted for Avoiding Small HELs
A lender-watchdog group has filed complaints against five national home equity lenders for allegedly discriminating against borrowers with homes worth less than $100,000.

FHA Amends TX Reverse Mortgages
The Federal Housing Administration announced changes to Texas reverse mortgages.

ResCap Cash Flows to be Restated
Accounting errors at Residential Capital Corp. have parent General Motors Corp. late on a Securities and Exchange Commission filing. But any restatement shouldn't include earnings-related changes.

Mortgage Delinquencies Surge
Led by subprime adjustable-rate mortgages and fueled by hurricane-impacted loans, national mortgage delinquency deteriorated.

The nonprime mortgage sector's love affair with real estate investment trusts may be coming to an end.

High Price Relief
Qualifying Californians buying their first homes can get 40-year government mortgages at below-market rates with 107% combined loan-to-values.

Rates Improve
Rates retreated from three-year highs.

Mortgage Lead Company Reports Record Revenue
A Southern California mortgage lead company founded less than three years ago reported $4 million in 2005 sales.

Nearly 300 Mortgage Jobs Coming to Kentucky
An Internet-based mortgage banker will add hundreds of new jobs in Kentucky.

Mich. Net Branch Grows
A Michigan-based net branch operation has recently expanded by four branches and two states.

Broker Poses as DEA Agent
A California mortgage broker faces prison for fraud. But he isn't accused of committing mortgage fraud -- he's accused of impersonating a government Drug Enforcement Administration agent.

Decline Continues at Downey
Production slowed at Downey Financial Corp. in February.

Best Mortgage Education
People new to their mortgage-related positions are likely to receive much better training at a handful of companies recognized as the best workforce trainers and developers.

New Century Reaches Agreement with Investors
New Century Financial Corp. has reached a truce with investors who were battling for more seats on its board of directors.

Serious Gulf-area Delinquencies Increase
Overall delinquencies fell in hurricane-affected areas, but borrowers with seriously delinquent loans worsened.

Less Complaints Against Mortgage Companies
Mortgage companies improved their ranking on the list of the nation's most complained-about businesses and services.

3 Credit Bureaus Agree to Single Score
The big three credit reporting companies have agreed to use the same formula to calculate credit scores.

Mortgage Consolidations & Executive Shuffles
A new wholesale chief at Washington Mutual, delayed financials from Fannie Mae and a major acquisition by Capital One are among the latest corporate and merger activity in real estate finance.

Trump Mortgage Adding Employees
Mortgage loan originators working at Donald Trump's new mortgage business won't necessarily be subject to the proverbial "You're fired," the man running the company told

Broker Kills Broker
When a mortgage broker from Maine failed to show up for two Feb. 16 closings, his brother went to the police.

IO Subprime Hybrids More Likely to Default
Interest-only subprime hybrids just got riskier.

Shareholders Lose Lawsuit Against REIT
A Florida real estate investment trust has won a lawsuit filed by stockholders.

Ohio Mortgage Bill Drawing Fierce Support, Opposition
Whether Ohioans are to gain more protection against fraud when they refinance a mortgage or buy a house depends largely on what the Ohio House does in the next three months.

Ohio Co. Settles OT Charges
An Ohio-based mortgage company has agreed to pay back wages to its loan officers after an investigation by the Department of Labor revealed that the company's policy of paying monthly commissions violated federal law.

Freddie's Financials Forthcoming
Freddie Mac delayed the release of 2005 financial results because of an accounting change.

Mortgage Jobs Fall Below 500,000
The number of mortgage employees decreased for the third consecutive month.

New Broker Growing Fast
A start-up mortgage brokerage in the South is enjoying growth that is exceeding even the founder's expectations. He talked to about how he prepared for success and why producing originators are approaching him about employment.

Most Admired Mortgage Companies
Thousands of U.S. executives were recently surveyed about the top companies in their peer group, and the parent of a nonprime mortgage lender continued to rank highest.

Georgia takes Action Against 2 Mortgage Brokers
Two women have been banned from originating mortgages in Georgia. Alleged mortgage fraud prompted the revocation of one's broker license while action was taken against the other as a result of operating without a license.

Rates Climb to Highest Level in Years
As the yield curve inversion reversed, mortgage rates jumped to the highest levels in years.

Most Vulnerable to ARM Payment Resets
Concern over the effect adjustable-rate mortgage resets will have in upcoming years are downplayed in a recent study, which also notes equity-shy markets are likely to suffer most from adjustments.

Appreciation, Fraud Drive Risk by Market
Mortgage lenders are losing their appetite for risky mortgages. And although Ohio tops the list of the riskiest states, it also showed the biggest improvement.

Flat February for Countrywide
Monthly fundings fell again at Countrywide Financial Corp. But a bigger loan pipeline indicates an increase may be forthcoming.

Wachovia Adding Mortgage Sales Jobs
Wachovia Corp. plans to hire hundreds of mortgage loan originators this year.

Mortgage Lead Company Launching TV Campaign
Watch out Desperate Housewives -- a loan lead company is coming to television to find mortgage lead prospects.

FHA Wants to Fund More Subprime Borrowers
The Bush administration hopes to replace some subprime loans with FHA mortgages.

Production Soars at IndyMac Subsidiary
The nation's largest reverse mortgage originator nearly doubled annual volume and expects it to keep increasing.

Lenders Halt Exodus from County in Maryland
As lenders prepared to exit a Maryland county because of a new predatory lending law that included exorbitant fines, a judge stepped in to suspend it.

Mortgage Employee Attacked at Office
While employees of a Missouri mortgage broker worked, one of their colleagues was robbed and assaulted by a knife-wielding man.

New Century Fundings Hold
Monthly volume was flat and rates were higher at New Century Financial Corp.

CA Lender Buys FL Operation
A major expansion east by a West Coast mortgage banker tops the latest list of mergers, acquisitions and corporate activity in real estate finance.

$1.5 Billion Subprime Portfolio Trades Hands
A New York-based real estate investment trust sees opportunity in the currently depressed mortgage market.

Treasury Yield Highest Since '04
The 10-year treasury yield closed Monday at its highest level in nearly two years.

Lenders Question Benefit of State Regulations
State regulation of predatory lending is better than federal regulation, according to a study conducted by a pro-consumer group. But mortgage lenders have their own studies that indicate otherwise.

Quickly Reach 6 Figures Originating
A mortgage industry veteran has written a training and reference manual for loan originators designed to help them skip the rigors of on-the-job-training and begin making money right away.

HSBC Executive Blasts Subprime IO Loans
Almost four years after the largest-ever mortgage industry settlement, a Household Finance executive recently discussed how the company has renovated its corporate culture and reduced the risks of abusive lending.

Credit Card Fraud Prevention is Good Model for Mortgages
The evolution of credit card fraud prevention at banks offers some valuable insight for mortgage lenders looking to prevent mortgage fraud.

Car Stolen While Couple Signed Docs
A Florida couple went into a mortgage company to get a home loan. But what they got were charges of child neglect.

Mortgage Technology Suit Costs Lender Near $6 Million
A Houston-based mortgage-software provider has been awarded $5.8 million in a patent infringement case it brought against a large Internet-based mortgage company.

Best Mortgage Companies for Shareholders
Analysts and portfolio managers have picked the friendliest mortgage-lending company for shareholders.

MTA Climbs
The Monthly Treasury Average continued to ascend in February.

Adjustable Rates Rise as 30-year Declines
Treasury yields jumped during the past week as the inverted yield curve flattened.

Land Contract Operation a Scam
A formerly high-flying land-contract brokerage has crumbled amidst criminal charges, burned investors and stunned borrowers.

Wells Adding Multilingual Staff
High mortgage demand in the San Francisco Bay Area prompted Wells Fargo Home Mortgage to open yet another office and further expand mortgage staff.

Study Suggests State's Banks Better than Brokers
Predatory lending is set to balloon in Maine, according to a pro-consumer group's report which also suggests the state's borrowers are better off with banks than brokers.

5 Sales Secrets
Succeeding in sales takes a certain amount of resiliency, enthusiasm and conviction. A successful salesperson will learn to accept rejection as a temporary setback rather than develop call reluctance; maintain a constant level of enthusiasm despite outside distraction; and remain determined to meet personal and professional goals.

COFI Continues Uninterrupted Ascent
Key adjustable-rate indexes continued to climb.

Bank Earnings Strong
Even as mortgage activity slowed, bank earnings soared to a fifth consecutive record.

WA Brokers Face New Certification, Licensing
A new law will make Washington mortgage brokers the only state-certified and licensed individuals in the mortgage industry.

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