MORTGAGE LOAN NEWS

Two Top Level Departures at MetLife Home Loans

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2010-03-09 17:32:17
Two top officers in charge of the fast growing MetLife Home Loans, Memphis, have departed the bank-owned residential lender/servicer, National Mortgage News has learned.

Commercial Banks Will be Big Buyers of MBS This Year

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2010-03-09 17:32:17
Commercial banks will be big buyers of agency MBS this year and help keep mortgage rates in check after the Federal Reserve withdraws from the market, according to the head of securitization strategy at Barclays Capital.

GMAC/ResCap Loses Another Top Manager

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2010-03-09 17:32:17
Bill Petersohn, director of bulk acquisitions and capital market sales for Residential Capital Corp., Horsham, Pa., has resigned from the mortgage banker to take a job with an analytics firm.

Appraisers Warn About BPOs and Property 'Flopping'

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2010-03-09 17:32:17
Appraisers are raising alarms that the Treasury Department's decision to use broker price opinions (BPOs) for its new short sales program will exacerbate mortgage fraud and property "flopping."

Former GNMA Chief: Cut the Agency Loose From HUD

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2010-03-09 17:32:17
The Government National Mortgage Association should be given its independence from the Department of Housing and Urban Development, its former president said.

Realtors: Tax Credit a Dud This Year

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2010-03-09 17:32:17
The homebuyer tax credit has been a dud so far this year, but the National Association of Realtors is hoping it will kick in this spring and drive home sales higher before it expires at midyear.

Phoenix Capital Working on Large Servicing Deal

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2010-03-09 17:32:17
Phoenix Capital, Denver, is working on bringing an $800 million package of servicing rights to the auction market, according to one advisor familiar with the transaction.

Government Bans Lend America and Ashley

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2010-03-09 17:32:17
Defunct FHA lender Lend America and its "chief business strategist," Michael Ashley -- who controlled the company -- have effectively been barred from the mortgage industry, according to newly released court documents.

NABE Survey: Banks Won't be Hurt by CFPA

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2010-03-09 17:32:17
The creation of an independent Consumer Financial Protection Agency would not impair safety and soundness regulation of banks, according to a majority of business economists.

Fairway Sees Volume Explode in New England

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2010-03-09 17:32:17
Fairway Independent Mortgage Corp., Sun Prairie, Wisc., funded $720 million in residential loans in the New England area last year, a 244% jump from 2009.