Four score and seven years ago?buying a house meant coming up with some serious coin. If you had any shot of buying a house, you had to show the bank that you had a minimum of 20percent down before they would even talk with you. Then, just like the economy, things changed. Lenders, with the approval of the powerful GSE’s , Fannie Mae and Freddie Mac, loosened their historically rigid lending guidelines and aimed to boost the national homeownership rate. Was the change good? Absolutely.
December 5th, 2008 | Posted in Articles | Read More »
Washington, D.C. ? The Conference of State Bank Supervisors announced today that the Massachusetts Division of Banks is the first state agency to become accredited under the recently-launched CSBS Mortgage Supervision Accreditation Program.
The grant of accreditation signifies that the Massachusetts Division of Banks has demonstrated conformance with the highest standards of mortgage supervision and regulation.
Massachusetts was also one of the first states in the country to join the Nationwide Mortgage Licensing System (NMLS) in January 2008. Twenty state agencies are now utilizing this comprehensive system to manage their licensed mortgage lenders, brokers and originators. In the near future, all state mortgage regulators will be utilizing the NMLS.
In announcing the certification, Neil Milner, president and CEO of the Conference of State Bank Supervisors, congratulated Massachusetts Commissioner of Bank Steven L. Antonakes and his staff, commenting that the new accreditation acknowledges the fact that the states are the front-line regulators of mortgage lenders.
December 4th, 2008 | Posted in Uncategorized | Read More »
DENVER, December 2, 2008 ? Mortgage Cadence, Inc., a leading provider of Enterprise Lending Solutions (ELS) for the financial services industry, announces the roll-out of Mortgage Cadence Orchestrator? with Standard Pacific Mortgage. Standard Pacific Mortgage is a wholly owned subsidiary of Standard Pacific Corp., one of the nation?s largest homebuilders. The Mortgage Cadence solution delivers lending expertise, data-driven workflow, and scalability to meet the changing needs of the marketplace while also providing a document preparation and delivery solution.
?We choose Mortgage Cadence to be our technology partner due to their robust ELS with automation capabilities and the ability at which Mortgage Cadence Orchestrator could be modified based on our specific needs,? stated Richard Ambrose, President of Standard Pacific Mortgage Inc.
December 3rd, 2008 | Posted in Uncategorized | Read More »
Conference to cover technology strategies to survive current environment and emerge stronger
WALLA WALLA, WASHINGTON – (December 3, 2008), NetMore America, Inc. (?NetMore?), an expanding next generation mortgage banker, announced today that Lisa Schreiber, Chief Strategy Officer will be the keynote speaker at Source Media?s 12th Annual Mortgage Technology Conference being held on January 21-23, 2009 at the Palms Casino in Las Vegas, Nevada.
December 3rd, 2008 | Posted in Uncategorized | Read More »
A Leader In Doc Prep And Consultation Services for Standardized Loan Modification Agreements And Packages Automatically Customized To Meet Bank/Lender/Servicer Specifications Aventura, Fl. ?August 12, 2008? National Modification Consultants announced today the company can now help homeowners modify their adjustable rate mortgages (ARMs) and high Fixed Rate mortgages to make payments more affordable and avoid costly foreclosures though a proprietary web application document processing system.
In addition to displacing a homeowner, a typical foreclosure can result in up to $80,000 in losses for the homeowner, lender, local government and neighbors whose homes fall in value, according to an April 2008 report from Congress Joint Economic Committee. With approximately 1.5 million subprime ARMs expected to reset to higher interest rates in 2009, there is a need for servicers to swiftly implement loan modification programs.
December 3rd, 2008 | Posted in Uncategorized | Read More »
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