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Refis to Drag Down 2010 Originations

Author:  //  Category: Mortgage

Projected refinance originations for this year are expected to be around 50 percent lower than last year, iEmergent reported. Around 3 million refinance transaction are forecasted for 2010. Purchase volume is expected to decline around 5 percent from 2009.

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Refis to Drag Down 2010 Originations

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Further Deterioration in Jumbo Performance

Author:  //  Category: Mortgage

Last month, Lender Processing Services Inc. reported that overall residential delinquency of at least 60 days climbed more than 10 basis points in December. Within prime loans, those with current unpaid principal balances between $417,000 and $600,000 have performed the worst,” the LPS report said. Now, Fitch Ratings reports that delinquency of at least 60 days on securitized prime jumbo loans rose 40 basis points during January.

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Further Deterioration in Jumbo Performance

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The Mortgage Leads Ledger

Author:  //  Category: Mortgage

Tree.com said in its 2010 guidance statement that it expects national consumer refinance activity to be lower, which hurt revenue from both LendingTree Loans and the Lending Exchange. Kaleidico announced its lead management software was being integrated with Google’s AdWords Comparison Ads feature. Home-Account Mortgage Engine was utilized by Refinance.com, an announcement indicated. Leads360 recently announced partnerships with PCLender.com and TARGUSinfo.

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The Mortgage Leads Ledger

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Ditech to Continue Advertising

Author:  //  Category: Mortgage

The New York Post reported that Ditech had not advertised for almost two months. But parent GMAC Financial Services has issued a new statement re-affirming its commitment to the Ditech business. GMAC said it plans “a dynamic mix of marketing and advertising” for Ditech including direct marketing, digital advertising and television commercials.

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Ditech to Continue Advertising

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Resale housing forecast extended to 2011

Author:  //  Category: Mortgage

OTTAWA – February 8, 2010 – The Canadian Real Estate Association has revised its forecast for home sales via the MLS® Systems of Canadian real estate boards in 2010, and extended the forecast to 2011.
With Canadian economic growth rebounding from the recession, the unusually severe decline in sales activity in early 2009 is not expected to recur in 2010.  Annual activity …

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Resale housing forecast extended to 2011

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January Housing Starts

Author:  //  Category: Mortgage

OTTAWA, Ontario, February 08, 2010 — The seasonally adjusted annual rate 1 of housing starts reached 186,300 units in January 2010. This is an increase from an annual rate of 176,100 units in December 2009, according to Canada Mortgage and Housing Corporation (CMHC). According to final figures, actual housing starts for 2009 totalled 149,081 units, with activity improving as the year …

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January Housing Starts

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Fed Among Banks Making Exec Appointments

Author:  //  Category: Mortgage

Ben S. Bernanke was formally sworn in for a second four-year term as chairman of the Board of Governors of the Federal Reserve System on Wednesday, the Federal Reserve announced. Bernanke first became chairman in February 2006. Flagstar Bancorp Inc. announced that Todd McGowan was hired as chief risk officer. The new east regional president of GreenBank is Lloyd L. Montgomery, parent Green Bankshares announced.

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Fed Among Banks Making Exec Appointments

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3 DC-Area Organizations Add Executives

Author:  //  Category: Mortgage

Several industry executives were named to posts at the Mortgage Bankers Association’s Reston, Va.-based Mortgage Industry Standards Maintenance. Rebecca Froass was named vice president of client services at Washington, D.C.-based Collingwood Group, a press release said. Also in Washington, D.C., Weiner Brodsky Sidman Kider PC announced that John V. Konyk was hired as executive director, government affairs.

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3 DC-Area Organizations Add Executives

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1 Bank, 1 Mortgage Firm Fail

Author:  //  Category: Mortgage

The Minnesota Department of Commerce closed 1st American State Bank of Minnesota Friday and handed the failed institution over to the Federal Deposit Insurance Corporation as receiver. Community Development Bank, FSB, agreed to assumed all of the failed institution’s deposits. The collapse of a deal for an Illinois bank to acquire AAXA Mortgage will result in the company’s closing, according to an interview with AAXA’s chief executive officer by WWAY NewsChannel 3.;

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1 Bank, 1 Mortgage Firm Fail

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Former NFL Quarterback Joins CA Mortgage Firm

Author:  //  Category: Mortgage

Prospect Mortgage has recruited a Georgia district manager from the National Football League. A statement last month indicated that Lee Williamson was hired for a district manager slot in Georgia. Williamson was a quarterback for the Houston Oilers from 1993 to 1996.

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Former NFL Quarterback Joins CA Mortgage Firm

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