Lenders One Mortgage Cooperative, a national alliance of independent mortgage bankers, announced that it has reached another milestone as total membership climbed to 150 lenders in October. After attracting 42 new members in 2008, the cooperative has continued its steady growth adding 41 new members to date this year, 15 of them having joined during third quarter 2009.Read more

Integrated Asset Services LLC (IAS), a leader in default management and residential collateral valuations, has released the latest IAS360 House Price Index (HPI). Based on the timeliest and most granular data available in the industry, the index for national house prices fell 0.6 percent in September. Compared to the 3.1 percent decline for the same period last year, the modest decline for the leading U.S. housing benchmark indicates the typical seasonal downturn has been somewhat delayed.Read more

Mutual of Omaha Bank has launched a mortgage lending operation in Texas and appointed John V. Kelly III as Texas region manager of residential mortgage sales, the company announced. Based in Dallas, Kelly will lead the bank’s mortgage team in offering a comprehensive portfolio of home financing solutions statewide, including conventional, FHA and VA loans, jumbo loans, bridge notes, second liens and construction loans, including a one-time close product.Read more

The Mortgage Bankers Association (MBA) has announced it has convened an executive-level panel of members to make policy recommendations to help ensure that the Federal Housing Administration (FHA) can continue to fulfill its mission in an evolving mortgage marketplace. Because FHA is more important than ever, MBA believes it is essential that FHA must have up-to-date resources, risk management tools, and business practices to meet current and future challenges.Read more

PLATINUMdata, a collateral solutions provider to the financial industry, announced its latest automated appraisal review product, REALview. The technology, which is designed to automate and standardize the appraisal review process while adhering to Uniform Standards of Professional Appraisal Practice (USPAP) and ensuring compliance with government-sponsored enterprise (GSE) and Federal Housing Administration (FHA) guidelines, features a number of key features that benefit financial institutions by:Read more

Each month, National Mortgage Professional Magazine will focus on one of the industry’s top players in our “Mortgage Professional of the Month” feature. This month, we had a chance to chat with Thomas R. Sirico, executive business director of mortgageNOW inc., Red Bank, N.J. Born in Brooklyn, N.Y., Tom established Lindenhurst, N.Y.-based Mortgageline Financial Corporation in 1989, quickly becoming one of the New York area’s top lenders. In 2000, he opened Amerihome Mortgage Corporation.Read more

► HUD posted on Sept. 23: Mortgagee Letter 2009-34 …This Mortgagee Letter announces a new set of principal limit factors (PLFs) for the Federal Housing Administration (FHA) HECM (Home Equity Conversion Mortgage) program, to assist with the viability of the program. The new principal limit factors must be used for all HECMs for which the FHA case number is assigned on or after Oct. 1, 2009. The letter has a link to the principle limit factor table.Read more

History matters. As HECM (Home Equity Conversion Mortgage), and the multi-billion-dollar* reverse mortgage industry it has spun, turn 20 this year, it is fitting that we take a moment to reflect on the industry’s first two decades through the eyes and work of those who were not only present at its creation, but also made significant contribution to its growth.Read more

Clayton Staffing Solutions Group, a subsidiary of Clayton Holdings Inc. and a provider of remote and on-site staffing to the mortgage and securities industries, has announced that it has been selected as the preferred staffing provider by Lenders One Mortgage Cooperative, a national alliance of more than 145 mortgage bankers. Through this agreement, Clayton Staffing Solutions will provide contract Federal Housing Administration (FHA) and conforming underwriting support to Lenders One’s membership to fulfill either temporary or full-time capacity issues.Read more

The National Association of Mortgage Brokers will host a Webinar titled, "Emergency State of the Union: Live Q & A With NAMB President Jim Pair" on Thursday, Oct. 1 from noon-1:00 p.m. (EDT). The mortgage industry is facing huge challenges and NAMB President Jim Pair wants to hear from you, so that you may be heard on Capitol Hill. All are invited to join Jim Pair and Top of Mind's Mark Green on for the "Emergency State of the Union" interview this Thursday, Oct. 1.Read more