Home » March 28th, 2009
Entries posted on “March, 2009”
Lighthouse Capital Funding, Inc. a Los Angeles based hard money lender announces the hiring of Ron Cypers as its President. Cypers brings 25 years experience in finance, development and asset management to head up the growth of this lending firm which specializes in short term commercial lending on a nation wide platform.
Cypers was a founding member of the specialty finance firm GRP Financial Services Corp. of New York City and White Plains, NY and a developer of housing and land development projects with Ornstein Leyton Company of Garden City, NY. He will spend time in the company headquarters in California as well as in the New York metro area on business development.
For more information:
ron@lighthousecapitalfunding.net, www.lighthousecapitalfunding.net
(310) 230 8335
March 28th, 2009 | Posted in Uncategorized | Read More »
Engine enables production sites to improve speed, agility and scalability
PLANO, Texas, March 23, 2009 ? Optimal Blue, developer of a comprehensive, Web-based platform that couples decisioning technology with content management for the mortgage industry, announced the company has launched a new engine and production sites to provide greater speed and flexibility to its customers. The engine is hosted in a state-of-the-art, green, SAS-70 co-location facility. The implementation includes state-of-the-art storage area networks (SANs) for greater reliability and flexibility.
Optimal Blue?s executives wanted the release of its new engine to offer increased system flexibility, speed and scalability. The co-location facility enables Optimal Blue to grow its capacity as volume dictates, as well as increase throughput, by incrementally adding more blade servers. Search times have been reduced to 2 to 3 seconds. Capabilities of the interface have been increased to handle pricing traces for historical pricing and enable users to customize the way the search results are presented. What used to be a unified single screen search result has been augmented with views across multiple tabs depending on how a specific user wants to see the information, which is something no other provider in this space has the capability to do. Using the new look, production sites have become more visually intuitive, have much greater navigation capabilities and improve efficiencies of information retrieval. With this functionality, users require fewer clicks to search for and lock loans, and they get their results faster.
March 23rd, 2009 | Posted in Uncategorized | Read More »
BytePro users will be able to store, view, print and securely e-mail documents directly from
within BytePro at no additional cost.
KIRKLAND, WA ? Byte Software, an innovative leader in secure, affordable loan origination
software for banks, credit unions and mortgage brokers announced today the addition of
Electronic Document Management to its BytePro software at the Mortgage Bankers
Association?s National Technology in Mortgage Banking Conference in Las Vegas, Nevada.
Electronic Document Management will be available in both BytePro Enterprise and BytePro
Standard as part of a major software release coming this spring and will be included in the core
software without additional fees for current Byte Software customers.
March 20th, 2009 | Posted in Uncategorized | Read More »
DENVER, March 16, 2009 ? Mortgage Cadence, Inc., a leading provider of Enterprise Lending Solutions (ELS) for the financial services industry, has adapted and enhanced its powerful technology platform to assist lenders in dealing with rapidly changing market conditions. Mortgage Cadence Orchestrator?s robust platform, complete with a native rules engine and automated workflow, provides lenders with key technology solutions to handle increased FHA business, Loan Modifications and Reverse Live Pricing.
?At Mortgage Cadence we are committed to meeting the needs of our clients and the mortgage industry. This is especially important during these challenging economic times,? stated Michael Detwiler, Chief Executive Officer of Mortgage Cadence. ?Our dynamic technology platform enables lenders to quickly and easily adapt to constantly changing market conditions and inherent opportunities, providing lenders significant ROI for their technology investment.?
March 20th, 2009 | Posted in Uncategorized | Read More »
Washington, D.C. (March 19, 2009) ? Joseph A. Smith Jr., North Carolina Commissioner of Banks and Chairman-elect of the Conference of State Bank Supervisors (CSBS), today urged policymakers to remember that the health and effectiveness of our nation?s financial system depends on a diverse and competitive marketplace that includes community and regional institutions.
Testifying before the Senate Banking Committee at the first in a series of hearings on modernizing bank supervision and regulation, Smith pointed out that states charter and supervise more than 70 percent of all U.S. banks, in coordination with the FDIC and Federal Reserve. However, industry consolidation over the past decade has created a system in which a handful of large national banks control the vast majority of assets in the system.
?We have often heard the consolidation of financial regulation at the federal level is the ?modern? answer to the challenges of our financial system,? Smith said, ?We need to challenge this assumption,? he stated.
March 20th, 2009 | Posted in Uncategorized | Read More »
- 18-year industry veteran to fuel national sales strategy, secure and manage key accounts; establish long-term strategic partnerships -
DENVER, Colorado, March 16, 2009 ? Mortgage Spirit, a Denver-based provider of revenue management and loan search and pricing technologies for the mortgage industry, named Keith Kemph as vice president of sales and marketing.
Kemph?s responsibilities focus on identifying and marketing to business owners in the mortgage banking business to advance the ongoing growth of Mortgage Spirit?s sales division. His role also includes building on the existing client database, marketing and selling to the prospect database, attending industry-focused tradeshows and assisting with the client transition and client setup of Mortgage Spirit?s product and pricing engine.
Prior to joining Mortgage Spirit, Kemph served as national sales manager for Calyx Software where he built and managed sales, marketing and business development strategies for the Calyx Network. Prior to this position, he was the vice president of national sales for First Franklin Financial, a subsidiary of Merrill Lynch, for seven years where he was responsible for the development and deployment of all strategies that drove sales and utilization of all customer-facing software through a sales staff of 650 sales representatives, 60 mid-level managers and 20,000 end users.
March 13th, 2009 | Posted in Uncategorized | Read More »
–Enhancements include wider range of business requirements for bankers as well as brokers–
LAS VEGAS, March 16, 2009 ? Calyx
March 13th, 2009 | Posted in Uncategorized | Read More »
FOR IMMEDIATE RELEASE
LOS ANGELES, Calif., October 8, 2008 – Applied Business Software Inc. (?ABS?), developer of The Mortgage Office?, the leading loan servicing software solution for the lending industry, and Armanino McKenna LLP Certified Public Accountants & Consultants, the largest California-based CPA firm and one of the top 50 in the United States, announced today that they have formed a strategic partnership to provide a wide range of accounting and consulting services to users of The Mortgage Office?.
Armanino McKenna LLP Certified Public Accountants & Consultants has been serving clients throughout California for over 50 years. As the largest California-based CPA firm and one of the top 50 in the United States, Armanino McKenna along with Josh Nevarez, the partner in charge of the firm’s thriving mortgage pool practice, continue to provide a wide range of accounting and consulting services to more California mortgage pool clients than any other firm in the state and are rapidly becoming recognized as the national leader in this industry.
March 10th, 2009 | Posted in Uncategorized | Read More »
Misrepresentation and other allegations abound about the misconduct of investment bankers like Bernard Madoff, the corporate misguidance and misbehavior from the likes of Lehman Brothers, Bear Stearns and other notable mortgage lending giants. Unimaginable uncontrolled excesses and predatory practices of mortgage bankers like Daniel Sadek?s Quick Loans et al, abound as well.
As almost every government agency steps up their investigations into the fraud, we are now presented with the one case that may prove to be the ultimate poster-boy of mortgage broker fraud. His name is Christopher Jared Warren.
?Fun While it Lasted!?
Lenders have been pulling away from TPO (third-party originations) as a general rule lately. Good brokers be damned, we have this one broker who illustrates, to the detriment of all others, the risks and costs associated with wholesale. Just a day before he fled (it is believed) to Mexico on a private jet he chartered for $156,000, Christopher Warren wrote a statement emailed to a Sacramento Bee reporter and subsequently posted on the web site of Triduanum Financial, a company he controlled. Warren admited to a career of committing fraud and teaching those in his supervision the techniques for doing the same. . As it circulated among the mortgage community and appeared in news reports and on blogs everywhere in ensuing days, responses ranged from ?nauseating? to ?outrageous.? It didn?t take long to reach national attention.
March 7th, 2009 | Posted in Articles | Read More »
Over the past couple of years I have been telling my clients, the mortgage broker industry is changing. The industry as we knew it is gone and in order for the mortgage broker to survive we need to be flexible and adapt to the changes. Recently a broker said to me ?Compliance is a waste of time?. This is the type of mentality that needs to change for us and the industry to survive. It came as no surprise when I later found out that this broker was being investigated by a couple of the states he was licensed in and forced to close his doors.
As we know, 2008 was a very turbulent year for the financial markets; 2009 will likely be as rough. Look around, our industry, and more specifically the mortgage brokers, are the primary targets of legislators at both the state and federal levels. The housing and mortgage industries were severely impacted and a number of new laws and regulations
March 7th, 2009 | Posted in Articles | Read More »
A lot of people don’t...
